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American Bankers Association CRCM Exam - Topic 7 Question 123 Discussion

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?
D) Determine the additional compliance risk for the bank as a result of this change
A) Establish a licensing program for bank employees
B) Establish a training plan for employees who will be selling the nondeposit investment products
C) Obtain copies of SEC and NASD rules regarding nondeposit investment products

American Bankers Association CRCM Exam - Topic 7 Question 123 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 123
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?

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Suggested Answer: D

by Tanja at Apr 01, 2026, 08:20 PM

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Ernie
27 days ago
Definitely need to train the employees first!
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Elenore
1 month ago
I think the compliance risk is the biggest concern here.
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Helaine
2 months ago
I’m torn between establishing a training plan and determining compliance risks. I guess it depends on how much risk the bank is willing to take on initially.
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Vesta
2 months ago
I feel like understanding the regulations is crucial, which makes option C sound appealing. But I wonder if we should prioritize training first?
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Bronwyn
2 months ago
I remember a practice question that emphasized the importance of training employees before they start selling products. So, option B might be the best choice here.
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Armando
2 months ago
I think the first step should be to assess the compliance risks, so maybe option D? But I'm not entirely sure if that's the right starting point.
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