American Bankers Association CRCM Exam - Topic 7 Question 15 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 15
Topic #: 7

[All CRCM Questions]

For how long must a bank keep records of transactions involving currency in amounts greater than $10,000?

ATwo years

BThree years

CFive years

DSeven years

Show Suggested Answer

Suggested Answer: C

by Gladys at May 09, 2022, 04:14 PM

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Selma

8 months ago

Are you sure about that? Seems a bit excessive.

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Marya

9 months ago

Really? I had no idea it was that long!

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Ludivina

9 months ago

Wait, I thought it was seven years?

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Cyril

9 months ago

Totally agree, five years is the standard.

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Weldon

9 months ago

It's five years for those records!

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Margo

9 months ago

I'm a bit confused on the difference between index time and search time field extraction. I'll need to review my notes to be sure I understand this concept.

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Krissy

9 months ago

Hmm, this seems like a tricky one. I'll need to think carefully about the scope of the checkDuplicates property and how it applies to the agent class.

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Micheline

10 months ago

Okay, I've got this. Compressing the pictures is definitely the way to go. That should help keep the document size manageable.

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Mitsue

10 months ago

Key phrase is 'inappropriate payments to employees' - I'm leaning towards cash advances since those are most prone to misuse.

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