American Bankers Association CRCM Exam - Topic 7 Question 30 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 30
Topic #: 7

[All CRCM Questions]

A bank is considering canceling its agreement with a broker to which it currently leases space in its lobby. The new plan would include an agreement with a different broker, but bank employees would complete product sales. What should the compliance manager do FIRST?

AEstablish a licensing program for bank employees

BEstablish a training plan for employees who will be selling the nondeposit investment products

CObtain copies of SEC and NASD rules regarding nondeposit investment products

DDetermine the additional compliance risk for the bank as a result of this change

Show Suggested Answer

Suggested Answer: D

by Jolanda at May 03, 2022, 11:13 PM

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Daren

4 months ago

They need to know the SEC rules before anything else.

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Nickolas

4 months ago

Surprised they’re letting employees sell products directly!

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Edna

4 months ago

Wait, shouldn't they assess the compliance risks first?

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Cyril

4 months ago

Agree, training is key for compliance!

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Denise

5 months ago

I think they should definitely establish a training plan first.

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Jolanda

5 months ago

Based on the details provided, I think the Enhanced Email Experience Composer is the way to go. It sounds like the best fit for randomly sending out the different email variations and testing their effectiveness.

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Luke

5 months ago

Ah, I see what they're getting at. If an admin is resetting MFA factors, then the end user's devices would need to be enrolled remotely. Gotta be option A.

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Stevie

5 months ago

I'm not entirely sure about this one. Is it comparing the organization to its peers, or is that a different purpose? I'll have to review my notes on maturity models before answering.

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Deeanna

5 months ago

This question seems pretty straightforward. I think the key is to focus on whether the bank's actions constituted participation in the boycott.

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Shay

5 months ago

I feel pretty confident about this. From the details provided, the "Multi-Resource Scheduling" feature seems like it would be the most appropriate way to schedule the group of resources for the required time period.

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