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American Bankers Association CRCM Exam - Topic 7 Question 70 Discussion

Records that must be retained for deposit accounts include which of the following?
D) Customer's TIN
A) Average daily balance
B) Overdraft history
C) All amounts of currency deposited or withdrawn

American Bankers Association CRCM Exam - Topic 7 Question 70 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 70
Topic #: 7
[All CRCM Questions]

Records that must be retained for deposit accounts include which of the following?

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Suggested Answer: D

by Bette at May 29, 2023, 11:27 PM

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Flo
8 months ago
Yup, all of these are essential for compliance!
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Elenor
8 months ago
I thought the TIN wasn't that important for deposits.
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King
9 months ago
Wait, do we really need to keep all currency transaction records?
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Mertie
9 months ago
Overdraft history is a must too!
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Salena
9 months ago
Definitely need to keep track of the average daily balance.
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Josephine
9 months ago
The customer's TIN seems important for tax purposes, but I wonder if it's required to keep that on file for deposit accounts.
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Lelia
9 months ago
I feel like all amounts of currency deposited or withdrawn should definitely be retained, but I can't recall if it was specifically listed in our materials.
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Avery
9 months ago
I remember a practice question that mentioned overdraft history as a key record to retain. It seems crucial for tracking customer behavior.
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Leigha
9 months ago
I think we discussed the importance of keeping an average daily balance for compliance, but I'm not entirely sure if it's mandatory.
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Dierdre
9 months ago
Hmm, I'm not totally sure about this one. I think it might be A, Ingress network, but I'm not 100% certain.
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Annamae
9 months ago
Hmm, I'm a bit unsure here. Should I just notify the staff members of the threat, or is there more I should be doing? I want to make sure I'm covering all my bases.
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Rueben
9 months ago
I'm not sure about that. I thought the Anticipation function was about forecasting demand?
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Remedios
10 months ago
I'm a bit confused on this one. I know the control schedule process has inputs, but I can't recall what they all are off the top of my head. I'll have to review my notes and the PMBOK to make sure I get this right.
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