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American Bankers Association CRCM Exam - Topic 4 Question 36 Discussion

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?
D) Contact the SIC to determine if the certificate was reported as lost, counterfeit, or stolen
A) Retain a copy of the certificate in the loan file
B) Retain the original certificate in the branch vault for the term of the loan
C) Record the certificate information and give the original back to the customer

American Bankers Association CRCM Exam - Topic 4 Question 36 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 36
Topic #: 4
[All CRCM 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?

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Suggested Answer: D

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

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Ruthann
8 months ago
D is crucial too, gotta check if it's legit first!
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Antonio
9 months ago
Wait, why would we just trust the customer? Sounds risky!
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Paulina
9 months ago
A is a good start, but B is the safest option.
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Marsha
9 months ago
I think C makes more sense, just record it and give it back.
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Louann
9 months ago
Definitely B, keep that original safe!
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Kaitlyn
9 months ago
This is a tricky one. The image doesn't provide a lot of detail, and the answer choices are pretty similar. I'll need to double-check my understanding before selecting an answer.
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Glenn
9 months ago
This seems like a straightforward question. I'll carefully review the options and choose the one that best matches the description of a forensic lockdown.
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Theodora
9 months ago
This seems like a straightforward configuration question. I'll carefully read through the options and think about the typical steps for changing an IP address on an IOS XR router.
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Dierdre
10 months ago
Saving the style in this document only - that's an important detail I'll need to remember.
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Annamaria
10 months ago
I was kind of confused about administrative rules. I thought they had to have some legal force, so option B seems off, but I can't recall the details.
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