American Bankers Association Exam CRCM Topic 4 Question 112 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 112
Topic #: 4

[All CRCM Questions]

The Reserve Bank may recover by charging any account on its books maintained by the sender if:

AThe Reserve Bank makes written demand to sender to assume defense of the proceeding

BAny action by the Reserve Bank within is the scope of its authority in handling the item

CThe sender has not made any other payment arrangement acceptable to the Reserve Bank

DThere is any warranty made by the Reserve Bank

Show Suggested Answer

Suggested Answer: A, C

by Erasmo at Jun 15, 2025, 06:05 PM

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Vince

13 days ago

I'm not sure, but I think it could also be D. If there is a warranty made by the Reserve Bank, they might be able to recover by charging the account.

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Becky

21 days ago

I agree with Lajuana, because if the sender hasn't made any other payment arrangement, the Reserve Bank can recover by charging the account.

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James

26 days ago

This question is making my head spin! But I'm pretty sure the answer is C. The Reserve Bank doesn't mess around when it comes to getting their money back.

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Marylin

2 days ago

I agree, the Reserve Bank means business when it comes to recovering their money.

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Hubert

13 days ago

I think you're right, C sounds like the correct answer.

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Agustin

1 months ago

I'd go with C. The Reserve Bank likes to keep things tidy, so if the sender hasn't made an acceptable payment arrangement, they're gonna come knocking on that account.

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Alfreda

1 months ago

Definitely B. The Reserve Bank can recover as long as it's acting within the scope of its authority. They're the experts, after all.

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Lajuana

1 months ago

I think the answer is C.

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Tawny

1 months ago

Hmm, I'm not sure. But I know the Reserve Bank has some serious power when it comes to recovering funds. They're like the financial superheroes, swooping in to save the day!

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Mitsue

1 months ago

I think the answer is C. The Reserve Bank can recover by charging the sender's account if the sender hasn't made any other payment arrangement acceptable to the Reserve Bank.

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