American Bankers Association Exam CRCM Topic 2 Question 54 Discussion

Actual exam question for American Bankers Association's Certified Regulatory Compliance Manager exam

Question #: 54
Topic #: 2

[All Certified Regulatory Compliance Manager Questions]

State National Bank is a $250 million community bank. It makes a variety of consumer and commercial loans, regularly transmits funds via wire transfers for its customers, and issues commercial and stand-by letters of credit. Which of the following transactions can State National make without checking the OFAC SDN list and without incurring liability?

ASend a wire transfer via its correspondent bank in New York for a commercial customer.

BSell a cashier's check payable to a third party.

CCash an on-us check over-the-counter for a noncustomer.

DNone. The bank can be liable for all.

Show Suggested Answer

Suggested Answer: D

by Charlene at Jun 27, 2022, 12:27 PM

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