American Bankers Association CRCM Exam - Topic 9 Question 22 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 22
Topic #: 9

[All CRCM Questions]

First National Bank advises Country A, a boycotting country, on various U.S. investments. Country A instructs First National Bank not to recommend for investment any shares of certain blacklisted companies. First National Bank follows this instruction. Has First National Bank participated or cooperated in an international boycott under the IRS regulations by this action?

AYes. The companies are the subject of a boycott.

BNo. The bank may agree not to recommend certain companies.

CYes, if the companies are part of a boycott.

DNo, but the bank must report this action to the IRS.

Show Suggested Answer

Suggested Answer: B

by Celeste at May 07, 2022, 07:35 PM

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Elza

4 months ago

Sounds like a gray area to me.

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Annice

5 months ago

No way, they’re just respecting client wishes.

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Douglass

5 months ago

Wait, so they can get in trouble for this?

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Dean

5 months ago

I disagree, it's just a recommendation.

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Abel

5 months ago

Yes, they're following a boycott.

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Chara

5 months ago

Hmm, not sure I fully understand the indexation part and how that impacts the calculations. Might need to review that concept again before attempting this.

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Kris

5 months ago

I think the attribute to alter is the local preference, but I'm not entirely sure how that interacts with iBGP.

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Leonie

6 months ago

Hmm, this looks like a tricky one. I'll need to carefully review the options and think through which three objects can be checked out using the Web Object Management Workbench.

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