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American Bankers Association CRCM Exam - Topic 7 Question 119 Discussion

Which of the following statements regarding applications is correct?
B) Creditors may accept oral applications.
A) Applications must be signed to be valid.
C) Creditors may not develop their own definition for a completed application.
D) A creditor is not required to attempt to complete incomplete applications.

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?

Show Suggested Answer Hide Answer
Suggested Answer: B

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

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Kenneth
3 months ago
But B allows flexibility. Some creditors prefer that route.
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Caren
3 months ago
I feel A is the safest choice. Signed means legit.
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Sommer
3 months ago
D makes sense. Why chase incomplete applications?
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Vince
3 months ago
C seems off. Creditors should define applications as they see fit.
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Noelia
4 months ago
I disagree, Whitley. A is more valid. Signed applications are essential.
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Whitley
4 months ago
I think B is correct. Oral applications are common.
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Brianne
4 months ago
Not sure about D, seems like they should at least try to complete them.
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Trina
5 months ago
Totally agree with A, it’s all about the signatures!
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Inocencia
5 months ago
Wait, can creditors really not define a completed app? That seems odd.
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Jerry
5 months ago
A is definitely correct, signed apps are usually a must.
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Kina
5 months ago
I think B is true, creditors can take oral applications.
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Nidia
5 months ago
Option C is just silly. Of course creditors can define what a completed application is.
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Delpha
5 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
6 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
6 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
6 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
6 months ago
Alright, I've got this. The key is understanding the requirements for valid applications.
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Alecia
6 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
6 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
7 months ago
D is the way to go. Creditors don't have to try to complete incomplete applications.
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Bettyann
7 months ago
I think option A is correct. Applications need to be signed to be legally binding.
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Irma
7 months ago
B is the right answer. Creditors can accept oral applications in some cases.
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Kenneth
7 months ago
Haha, creditors developing their own definitions? That's a good one!
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Dewitt
8 months ago
Okay, this looks like a tricky question. I'll need to read through the options closely.
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Asha
8 months ago
Hmm, I think I know the answer to this one. Let me think it through carefully.
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Soledad
2 months ago
I'm leaning towards A as well.
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Lanie
2 months ago
D sounds reasonable too.
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Stephaine
3 months ago
C makes more sense to me.
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Sanjuana
3 months ago
No way, I think B is the right choice.
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Marion
7 months ago
I believe A is correct.
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