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American Bankers Association Exam CRCM Topic 4 Question 101 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 101
Topic #: 4
[All CRCM Questions]

First National Bank has several exempt customers.

* Alpha is an exempt person because its stock is listed on a major stock exchange.

* Beta is an exempt person because it meets the nonlisted customer requirements.

* Zeta is exempt because it is a payroll customer. For which customer(s) must the bank conduct an annual review to determine its continuing eligibility to be exempt from CTR filings?

Show Suggested Answer Hide Answer
Suggested Answer: D

by Tricia at Sep 14, 2024, 04:49 AM

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Fannie
10 months ago
I'm going with B) and C) on this one. Beta and Zeta both need the annual review to maintain their exempt status. Can't be cutting corners when it comes to those CTR filings, am I right?
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Tula
9 months ago
It's important to stay compliant with regulations.
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Cecil
9 months ago
Definitely, can't risk any issues with CTR filings.
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Kenda
10 months ago
I agree, Beta and Zeta both need that annual review.
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Juliann
10 months ago
Okay, let's think this through. Alpha is exempt because they're listed on a major exchange, so no need to review them. Beta meets the nonlisted customer requirements, so they'll need the annual review. And Zeta's exempt because they're a payroll customer, so they'll need it too. Gotta love these banking regulations, am I right?
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Tamera
10 months ago
I'm not sure about that. I think only Zeta needs to be reviewed annually.
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Haydee
10 months ago
Haha, looks like Zeta's got it easy! Just being a payroll customer gets them an automatic pass. I wonder if they'll throw a pizza party for the bank employees every year instead of a review.
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Fallon
9 months ago
Beta and Zeta must conduct an annual review.
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Alishia
9 months ago
Zeta must conduct an annual review.
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Freeman
10 months ago
Beta must conduct an annual review.
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Lashawnda
10 months ago
Alpha must conduct an annual review.
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Jimmie
10 months ago
I agree with Chanel. Beta and Zeta need to be reviewed annually to maintain their exempt status.
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Chanel
10 months ago
I think the bank must conduct an annual review for Beta and Zeta.
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