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American Bankers Association CRCM Exam - Topic 5 Question 61 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 61
Topic #: 5
[All CRCM Questions]

It is the policy of First Safe Bank to offer credit life insurance and accident and disability insurance to all consumer loan customers. What procedures fulfill the disclosure requirements for the bank?

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Suggested Answer: B

by Josphine at Nov 18, 2022, 07:30 PM

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Oretha
4 months ago
I thought they had to disclose everything upfront, not just at closing.
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Shawana
5 months ago
Wait, are they really only giving disclosures at closing? Sounds sketchy!
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Lashawn
5 months ago
A sign on desks isn't enough, gotta go with B.
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Kindra
5 months ago
I agree, B covers all bases for customer awareness.
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Edwin
5 months ago
Option B seems right, they need to disclose both orally and in writing.
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Shantay
5 months ago
I’m not clear on whether just a written disclosure at closing is sufficient. I thought there were more requirements.
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Truman
5 months ago
I feel like we practiced a question similar to this, and I think the key is that customers need to be informed before they make a decision.
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Tamie
5 months ago
I think option B sounds right, but I’m not entirely sure if just giving it orally at application is enough.
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Louvenia
6 months ago
I remember we discussed the importance of providing disclosures both orally and in writing, especially at loan closing.
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Lettie
6 months ago
Easy peasy! I'll just follow the steps in the explanation - click, insert footnote, type the text, and I'm good to go.
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Cora
6 months ago
I'm a little confused about the different merge code options. I'll need to carefully review the structure of the Integration Procedure and the documentation on how to pass data between actions. This seems like an important concept to understand for the exam.
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Francine
6 months ago
Monitoring KRIs could be useful, but I'm not sure that would fully identify unnecessary controls. Hmm, tough call.
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