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?

ADeveloping training for tellers who will use the new system

BSetting parameters for what the system should review to determine the strength of the customer relationship

CValidating the system to ensure it complies with regulatory restrictions

DConducting a cost-benefit analysis to determine if the system is the best solution

Show Suggested Answer

Suggested Answer: D

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

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Colton

2 months 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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Bea

1 months ago

C: Let's not take any risks with regulatory restrictions.

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Tammara

2 months ago

B: Yeah, we can't just ignore that.

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Dell

2 months ago

A: We need to make sure the system complies with regulations.

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Gearldine

3 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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Angelica

1 months ago

User 3: I agree, the compliance professional needs to ensure the system is reviewing the right things to strengthen customer relationships.

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Joseph

2 months ago

User 2: Absolutely, getting the customer relationship formula right is key to reducing complaints.

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Willis

2 months ago

User 1: Setting parameters for the system is crucial. It's all about finding that sweet spot.

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Janessa

3 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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Cathrine

1 months ago

D) Conducting a cost-benefit analysis to determine if the system is the best solution

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Georgiana

1 months ago

C) Validating the system to ensure it complies with regulatory restrictions

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Fausto

2 months ago

B) Setting parameters for what the system should review to determine the strength of the customer relationship

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Ernestine

2 months ago

A) Developing training for tellers who will use the new system

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Shawnda

3 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

3 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

3 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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