American Bankers Association CRCM Exam - Topic 1 Question 8 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 8
Topic #: 1

[All CRCM Questions]

What should a bank's Bank Secrecy Act compliance program include?

AAll lobby notice requirements

BThe one-year record retention requirements

CDesignation of individuals responsible for day-to-day compliance

DA list of types of loans covered by the Act

Show Suggested Answer

Suggested Answer: C

by Valentine at May 06, 2022, 12:08 PM

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Evelynn

7 months ago

Absolutely, day-to-day compliance is a must!

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Caitlin

7 months ago

Wait, do banks really have to keep records for a whole year?

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Kristeen

7 months ago

Not sure about the loan types being necessary for compliance.

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Rikki

7 months ago

I think all lobby notice requirements are crucial too!

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Danica

8 months ago

It should definitely include the designation of compliance individuals.

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Melissa

8 months ago

Ah, a classic API limits question. I've seen these before, so I think I've got a good handle on this. I'll review the options carefully and go with the one that seems most reasonable.

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Portia

8 months ago

Hmm, I'm not sure I understand what "Crop to Shape Snip Same Side Corner Rectangle" means. I'll have to read that part carefully.

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Walton

8 months ago

I feel uncertain about what happens if an officer steps out of their legal boundaries. Does it really affect the case they're involved in?

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Nikita

8 months ago

Always go back to the fundamentals - you can't develop a good training program without knowing what your people need. Survey first, then build targeted programs. Definitely leaning towards C.

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