American Bankers Association Exam CRCM Topic 4 Question 36 Discussion

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

Question #: 36
Topic #: 4

[All Certified Regulatory Compliance Manager Questions]

A compliance officer receives a call from a loan officer who asks for adv ice on what she should do with a stock certificate (1,437 shares of IBM) from a new loan customer who wants to pledge it in support of a loan that has been approved at your bank. What should the compliance officer tell her FIRST?

ARetain a copy of the certificate in the loan file

BRetain the original certificate in the branch vault for the term of the loan

CRecord the certificate information and give the original back to the customer

DContact the SIC to determine if the certificate was reported as lost, counterfeit, or stolen

Show Suggested Answer

Suggested Answer: D

by Audra at May 07, 2022, 04:05 PM

Limited Time Offer

25%

Off

Get Premium CRCM Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Currently there are no comments in this discussion, be the first to comment!