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American Bankers Association Exam CRCM Topic 4 Question 96 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 96
Topic #: 4
[All CRCM Questions]

A compliance professional is a member of the task force studying how the bank can reduce customer complaints about holding deposits. One proposed solution involves purchasing an expensive system that will reduce the number of holds placed by evaluating the customer's history and relationship with the bank. Which of the following roles is MOST important for the compliance professional on the task force?

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Suggested Answer: D

by Jacklyn at Sep 13, 2024, 04:54 AM

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Colton
29 days ago
Regulatory restrictions? Psh, what are those? Let's just build a system that does whatever it wants and see what happens. What could go wrong?
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Tammara
8 days ago
B: Yeah, we can't just ignore that.
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Dell
16 days ago
A: We need to make sure the system complies with regulations.
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Gearldine
1 months ago
Setting parameters for the system? That's where the real magic happens! Gotta get that customer relationship formula just right.
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Joseph
23 days ago
User 2: Absolutely, getting the customer relationship formula right is key to reducing complaints.
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Willis
27 days ago
User 1: Setting parameters for the system is crucial. It's all about finding that sweet spot.
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Janessa
1 months ago
I bet the tellers are going to love learning how to use the new system. Gotta make sure they're trained up properly, you know?
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Fausto
7 days ago
B) Setting parameters for what the system should review to determine the strength of the customer relationship
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Ernestine
16 days ago
A) Developing training for tellers who will use the new system
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Shawnda
1 months ago
Woah, hold on there! The compliance pro needs to do a cost-benefit analysis first. Can't just throw money at an expensive system without seeing if it's worth it.
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Odette
2 months ago
But wouldn't conducting a cost-benefit analysis also be important to determine if the system is worth the investment?
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Yolande
2 months ago
The compliance professional should definitely focus on validating the system to ensure it complies with regulatory restrictions. That's the most important role to protect the bank and its customers.
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Cristina
15 days ago
B: I agree, that role is essential for protecting the bank and its customers.
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Gracia
23 days ago
A: I think validating the system to ensure it complies with regulatory restrictions is crucial.
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Reena
2 months ago
I agree with Jina. Compliance with regulations is crucial in the banking industry.
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Jina
2 months ago
I think the compliance professional should focus on validating the system to ensure it complies with regulatory restrictions.
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