Discuss American Bankers Association CRCM Exam Topic 5 Question 38

Generally, a financial institution is required to ascertain if securities certificates they have taken by pledge, transfer, or otherwise have been reported as missing, lost, counterfeit, or stolen. When is it NOT required to take such actions?

AWhen the securities certificate is received directly from the issuer or issuing agent at issuance.

BWhen the bank officer personally knows the individual pledging the certificate.

CWhen the securities certificate received as part of a transaction has a face value of $20,000 or less.

DWhen the securities certificate is received directly from an insured delivery service.

Suggested Answer: A

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11 comments · newest first

Avery 11 months ago

Just to clarify, A is the standard practice for issuers.

Elvera 12 months ago

D? Really? That sounds too easy, I’m not sure about that.

Aracelis 12 months ago

C seems a bit off. Why would the value matter?

Flo 12 months ago

I disagree with B. Knowing someone doesn’t guarantee the certificate's validity.

Letha 1 year ago

A is correct! No need to check if it’s from the issuer.

Lemuel 1 year ago

I'm a little unsure about this one. I know the investment account needs to be adjusted, but I'm not sure if it's increased or decreased. I'll have to review the concepts around accounting for investments with little influence before making my final choice.

Giuseppe 1 year ago

Ugh, Scrum artifacts, I always get those mixed up. Let me think... Product Backlog, Sprint Backlog, and... hmm, what's the other one? I feel like I'm missing something obvious here. Okay, I'll just take a guess and move on.

Reita 1 year ago

I feel like I saw a question about rotating images in another practice set, but I can't recall if it was specifically about the 9:16 aspect ratio.

Nickie 1 year ago

I'm feeling pretty confident about this one. The full-interruption test is the one that shuts down the primary site and shifts operations to the recovery site, so that's got to be the answer. I'll go with B.

Jamal 1 year ago

Hmm, the diagram shows some kind of layered architecture, but I'm not sure which one it represents. I'll need to refresh my memory on the details of each mobile OS to make the right call.

Dexter 1 year ago

This one seems pretty straightforward. I think the answer is A - Certification and accreditation (C&A). That's the process where key stakeholders agree that the system has adequate security controls.

American Bankers Association CRCM Exam - Topic 5 Question 38 Discussion