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American Bankers Association Exam CRCM Topic 2 Question 73 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 73
Topic #: 2
[All CRCM Questions]

Which account is NOT subject to backup withholding?

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Suggested Answer: B

by Twana at Aug 11, 2023, 01:00 AM

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Terrilyn
16 days ago
Backup withholding? I thought it was just 'backup dancing' at a party.
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Catarina
17 days ago
Backup withholding? More like 'backup plan' if you ask me!
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Tandra
3 days ago
A) A money market savings account owned by Brenda Wilson
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Rosio
20 days ago
A savings account? Ah, the classic choice. Nice and simple, Karen.
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Lea
3 days ago
I think the answer is C) An IRA owned by Max Jones.
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Micaela
27 days ago
An IRA? That's tax-deferred, not backup withholding. Way to go, Max!
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Artie
1 months ago
A time deposit account? That's gotta be taxable. Nice try, Bob and Nancy.
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Cora
4 days ago
B) A time deposit account owned by Bob and Nancy Dawson
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Vivan
1 months ago
A money market savings account? That's definitely subject to backup withholding. The IRS is watching, Brenda!
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Chaya
10 days ago
Max Jones: Don't worry Brenda, my IRA is not subject to backup withholding.
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Lasandra
14 days ago
Brenda Wilson: I didn't know my money market savings account was subject to backup withholding!
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Lynna
23 days ago
Bob Dawson: Our time deposit account is subject to backup withholding too.
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Janey
28 days ago
Brenda Wilson: I didn't know my money market savings account was subject to backup withholding!
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Ardella
2 months ago
I'm not sure, but I think D) A savings account owned by Karen Hitchings might also be correct.
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Lindsey
2 months ago
I agree with Judy, because IRAs are generally not subject to backup withholding.
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Judy
2 months ago
I think the answer is C) An IRA owned by Max Jones.
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