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American Bankers Association CRCM Exam - Topic 5 Question 50 Discussion

When is it permissible for a bank that is a government securities broker or dealer to refrain from filing a Form G-FIN-5 or a Form MSD-5 when an employee terminates the associated person status?
D) When the employee remains employed by the bank and the bank notifies its regulatory agency
A) When the employee files the form
B) When the bank does not have all the necessary information and notifies its regulatory agency
C) When the employee's status is reinstated within six months

American Bankers Association CRCM Exam - Topic 5 Question 50 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 50
Topic #: 5
[All CRCM Questions]

When is it permissible for a bank that is a government securities broker or dealer to refrain from filing a Form G-FIN-5 or a Form MSD-5 when an employee terminates the associated person status?

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Suggested Answer: D

by Annelle at May 08, 2022, 03:03 PM

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Temeka
8 months ago
A is incorrect; the employee filing doesn't exempt the bank.
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Shelba
9 months ago
Definitely B. Compliance is key!
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Casie
9 months ago
Wait, can they really skip filing if the employee is still there? Sounds odd.
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Vicente
9 months ago
I think it's actually C. Reinstatement matters!
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Eun
9 months ago
It's B, right? They need to notify the agency.
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Marlon
9 months ago
Hmm, this seems like a straightforward question about evidence handling. I think the key is to focus on the chain of custody - making sure the evidence is properly documented and accounted for every step of the way.
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Cammy
9 months ago
Wait, is capital budgeting really just about scheduling office personnel? That doesn't sound right. I better re-read the question and options carefully before answering.
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Dalene
10 months ago
Hmm, I'm a bit unsure about this one. The question mentions integrating multiple business units, but I'm not sure how that relates to the API choice. I'll need to think through the different API options and how they might be used in this scenario.
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