American Bankers Association CRCM Exam - Topic 7 Question 119 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 119
Topic #: 7

[All CRCM Questions]

Which of the following statements regarding applications is correct?

AApplications must be signed to be valid.

BCreditors may accept oral applications.

CCreditors may not develop their own definition for a completed application.

DA creditor is not required to attempt to complete incomplete applications.

Show Suggested Answer

Suggested Answer: B

by Fredric at Nov 22, 2025, 12:48 PM

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Kenneth

1 month ago

But B allows flexibility. Some creditors prefer that route.

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Caren

2 months ago

I feel A is the safest choice. Signed means legit.

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Sommer

2 months ago

D makes sense. Why chase incomplete applications?

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Vince

2 months ago

C seems off. Creditors should define applications as they see fit.

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Noelia

2 months ago

I disagree, Whitley. A is more valid. Signed applications are essential.

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Whitley

2 months ago

I think B is correct. Oral applications are common.

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Brianne

2 months ago

Not sure about D, seems like they should at least try to complete them.

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Trina

3 months ago

Totally agree with A, it’s all about the signatures!

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Inocencia

3 months ago

Wait, can creditors really not define a completed app? That seems odd.

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Jerry

3 months ago

A is definitely correct, signed apps are usually a must.

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Kina

4 months ago

I think B is true, creditors can take oral applications.

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Nidia

4 months ago

Option C is just silly. Of course creditors can define what a completed application is.

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Delpha

4 months ago

I think we went over incomplete applications, and if I recall correctly, creditors aren't obligated to complete them.

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Herman

4 months ago

I vaguely remember something about creditors having their own definitions for completed applications, but I’m not confident about that.

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Bok

4 months ago

I feel like we discussed oral applications in class, and I think creditors can accept them, but I can't recall the specifics.

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Elbert

4 months ago

I think I remember that applications need to be signed, but I'm not entirely sure if that's always the case.

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Christene

5 months ago

Alright, I've got this. The key is understanding the requirements for valid applications.

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Alecia

5 months ago

I've got a strategy - I'll eliminate the options that I know are wrong first, then choose the best remaining answer.

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Kris

5 months ago

I'm not totally sure about this one. I'll have to review the material on applications again.

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Dean

5 months ago

D is the way to go. Creditors don't have to try to complete incomplete applications.

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Bettyann

5 months ago

I think option A is correct. Applications need to be signed to be legally binding.

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Irma

6 months ago

B is the right answer. Creditors can accept oral applications in some cases.

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Kenneth

6 months ago

Haha, creditors developing their own definitions? That's a good one!

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Dewitt

6 months ago

Okay, this looks like a tricky question. I'll need to read through the options closely.

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Asha

6 months ago

Hmm, I think I know the answer to this one. Let me think it through carefully.

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Soledad

20 days ago

I'm leaning towards A as well.

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Lanie

26 days ago

D sounds reasonable too.

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Stephaine

1 month ago

C makes more sense to me.

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Sanjuana

1 month ago

No way, I think B is the right choice.

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Marion

5 months ago

I believe A is correct.

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