American Bankers Association CRCM Exam - Topic 3 Question 13 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 13
Topic #: 3

Which of the following is an accurate statement according to the requirements of the customer identification program regulations?

AA bank must always require documentary verification of a customer's identification

BA bank may waive any part of the CIP requirements if senior management approves the waiver and there is a good cause

CA physical address or a post office box is acceptable for any new customer

DThe bank's CIP program must enable it to form a reasonable belief about the identity of the person

Show Suggested Answer

Suggested Answer: D

by Sabra at May 06, 2022, 07:00 AM

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8 months ago

A bank can waive CIP requirements with management approval.

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I'm a little confused on this one. Is the SSL extension involved in the digital signature process, or is that a separate security mechanism? I'll need to review my notes on public key cryptography before answering.

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Levi

8 months ago

Ah, I see. The Scrum of Scrums is the mechanism that allows Scrum to be scaled up for larger projects. That makes sense now.

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Jarvis

8 months ago

I feel like we discussed needing a minimum number of secure MAC addresses, which might relate to option D, but I can't recall all the details.

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Katie

8 months ago

Hmm, I'm a bit unsure about the difference between the "Remote GSLB service" and the "Local GSLB service" mentioned in the options. I'll need to review that concept before deciding.

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American Bankers Association CRCM Exam - Topic 3 Question 13 Discussion

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