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American Bankers Association Exam CRCM Topic 6 Question 88 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 88
Topic #: 6
[All CRCM Questions]

In which of the following situations does a bank need to post a branch closing notice?

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Suggested Answer: B

by Alease at May 17, 2024, 11:37 AM

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Stephaine
14 days ago
I think the key is whether the branch is actually being shut down permanently or just relocated. Moving 850 feet seems like more of a relocation than a closure, so D doesn't seem to fit the bill.
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Willodean
18 days ago
Option A is an interesting one - a temporary closure due to hurricane damage. I wonder if that's considered a 'closing' that requires a notice, or if it's more of an emergency situation where the rules are different.
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Carrol
3 days ago
A) A bank closes a branch temporarily because of heavy hurricane damage.
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Heike
25 days ago
Hah, imagine if the bank just moved the branch 850 feet down the street! Does that really count as 'closing' a branch? Shouldn't they just put up a sign saying 'We've moved to the building next door'?
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Precious
8 days ago
A) A bank closes a branch temporarily because of heavy hurricane damage.
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Gilbert
1 months ago
I'd go with C - when a bank takes over a failed institution, the FDIC usually requires them to keep the branches open for a certain period. Closing one of those would definitely need a notice.
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Gilberto
19 days ago
A: I think C makes sense, the FDIC would definitely require notice if they're taking over a failed institution.
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Ezekiel
2 months ago
But what about situation D? Moving a branch down the street doesn't seem like a big deal.
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Jacinta
2 months ago
I agree with Delsie. The heavy hurricane damage is a valid reason for posting a notice.
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Emilio
2 months ago
Option B seems the most straightforward - the bank is closing a branch due to lack of business, so they would need to post a notice. The other options don't seem to clearly require a notice.
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Tish
26 days ago
D) A bank closes a branch and moves it 850 feet down the street.
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Virgie
1 months ago
C) A bank decides not to exercise its option to purchase a branch it has been temporarily running for the FDIC as a part of a purchase of a failed institution.
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Shay
1 months ago
B) A bank closes a branch in a suburban neighborhood because business has not adequately developed there.
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Lisha
1 months ago
A) A bank closes a branch temporarily because of heavy hurricane damage.
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Delsie
2 months ago
I think the bank needs to post a branch closing notice in situation A.
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