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American Bankers Association CRCM Exam - Topic 6 Question 49 Discussion

When is it possible for a bank to be exempted from compliance with some of the Government Securities Act custodial regulations?
B) When the bank has procedures in place to make sure it complies with the custodial regulations of its federal regulatory agency
A) When the bank maintains its securities in the ordinary course of business
C) When the bank does not hold itself out as a government securities broker or dealer
D) When the bank uses more than the normal standard of care when maintaining possession and control of securities

American Bankers Association CRCM Exam - Topic 6 Question 49 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 49
Topic #: 6
[All CRCM Questions]

When is it possible for a bank to be exempted from compliance with some of the Government Securities Act custodial regulations?

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Suggested Answer: B

by Britt at May 08, 2022, 07:19 AM

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Sherell
8 months ago
They can maintain securities in the ordinary course of business too!
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Gail
9 months ago
Wait, are banks really exempt just for having procedures? Seems odd.
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Youlanda
9 months ago
Actually, I think option B is also a valid point.
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Demetra
9 months ago
I agree, option C makes the most sense!
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Remona
9 months ago
A bank can be exempt if it doesn't act as a government securities broker.
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Helaine
9 months ago
I've got this! The answer is A - ORDER BY 1, LNAME DESC. The 1 in the ORDER BY clause refers to the first column in the SELECT statement, which is city. And LNAME DESC will sort the last names in descending order. Easy peasy!
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Dorthy
9 months ago
Okay, let's see. I know that SIL involves testing the software without the actual hardware, so I'll need to focus on the key aspects of that approach.
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Jeannine
10 months ago
Hmm, I'm a bit unsure about this one. The goals seem pretty clear, but I want to make sure I understand the differences between the options before selecting an answer.
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Sabra
10 months ago
This looks like a straightforward question about synchronizing content between on-premise and cloud instances of ACS. I'll need to think carefully about the key features required for this.
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