Discuss American Bankers Association CRCM Exam Topic 7 Question 127

An exempted borrower is a member of a national securities exchange or a registered broker or dealer who:

AMaintains at least 1,000 active accounts annually for persons other than brokers, dealers, and persons associated with brokers and dealers

BEarns at least $10 million in gross revenues on an annual basis from transactions with persons other than brokers, dealers, and persons associated with brokers and dealers, or

CEarns at least 10 percent of its gross revenues on an annual basis from transactions with persons other than brokers, dealers, and persons associated with brokers and dealers

DNone of these

Suggested Answer: A, B, C

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19 comments · newest first

Asuncion 12 days ago

I just want to be sure we’re not missing anything.

Zita 18 days ago

Exactly! B shows real revenue generation.

Shannon 23 days ago

Right! B or A, but B feels more reliable.

Alica 28 days ago

D is not an option. We need to pick one of the others.

Alona 1 month ago

C seems too low. B is definitely the stronger option.

Sabine 1 month ago

I lean towards C. Earning 10% is still substantial.

Nancey 1 month ago

True, A is good, but B feels more concrete to me.

Asuncion 2 months ago

But what about A? 1,000 active accounts is impressive too.

Zita 2 months ago

I agree, B makes sense. It shows significant business activity.

Shannon 2 months ago

I think option B is the best choice. $10 million is a solid benchmark.

Tiffiny 2 months ago

Totally agree with A) - active accounts are key!

Georgeanna 2 months ago

Wait, are you telling me 10% of revenue can qualify? That seems off.

Nina 2 months ago

B) makes sense, but C) seems a bit low for exemption.

Elenora 3 months ago

I thought it was just about revenue, not account numbers!

Johna 3 months ago

A) is definitely a requirement for exempted borrowers.

Freeman 3 months ago

I vaguely recall that it could be either B or C, but I can't remember which one is the correct definition for an exempted borrower.

Skye 3 months ago

I'm a bit confused about the specifics. Is it 1,000 accounts or the revenue that matters more for being exempted?

Jules 3 months ago

I feel like I've seen a similar question before, and I think it might be related to option B about the $10 million in gross revenues.

Barrett 4 months ago

I think I remember something about exempted borrowers, but I'm not sure if it's about the number of accounts or the revenue thresholds.

American Bankers Association CRCM Exam - Topic 7 Question 127 Discussion