American Bankers Association Exam CRCM Topic 5 Question 38 Discussion

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

Question #: 38
Topic #: 5

[All Certified Regulatory Compliance Manager Questions]

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.

Show Suggested Answer

Suggested Answer: A

by Jolanda at May 05, 2022, 02:15 AM

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