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American Bankers Association CRCM Exam - Topic 10 Question 27 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 27
Topic #: 10

[All CRCM Questions]

Which of the following is NOT a requirement when a bank pays an employee a fee for referring a high-net-worth or institutional customer to a broker?

AThe bank must have a written agreement with the broker

BThe bank must give a disclosure to the customer

CThe bank must reasonably believe that the customer is a high net worth or institutional customer

DThe employee must be registered with the bank's regulatory agency

Show Suggested Answer

Suggested Answer: D

by Marge at May 08, 2022, 09:43 PM

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Grover

8 months ago

The customer has to be high net worth, that's a given.

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Kimbery

9 months ago

Disclosure to the customer is also required, right?

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Fletcher

9 months ago

Wait, do employees really need to be registered? Seems odd.

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Clorinda

9 months ago

Totally agree, that’s a must!

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Hermila

9 months ago

The bank needs a written agreement with the broker.

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Elmer

9 months ago

Ah, I see. The key is to make sure the Versa Operating System version is set to 20.2.2. I think option D, selecting it in the Device Group, is the way to go.

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Jannette

9 months ago

Hmm, I'm not too familiar with Oracle Purchasing, so I'm not sure I fully understand the context of this question. I'll try to reason through the options and pick the 3 that seem to best fit the description of API functions.

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Shelia

9 months ago

Ah, I remember learning about this in class. I'm pretty confident I know the right approach, but I'll double-check my notes just to be sure.

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Melina

10 months ago

This question seems to be asking about different security architecture models. I think I remember learning about service-oriented architecture, which is designed to integrate disparate applications, so that might be the right answer.

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