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Free CRCM Exam Braindumps (page: 125)

Page 125 of 344
PDF with 463 Questions

Any of the following foreign correspondents for which the Federal Reserve maintains an account EXCEPT:

  1. A foreign bank
  2. A foreign banker's Lessee
  3. A foreign state
  4. A foreign correspondent or agency

Answer(s): B



By sending an item to a Reserve Bank, a sender:

  1. Never authorizes the Reserve Bank to handle the item based on this regulation and the Reserve Bank's circulars
  2. Warranties for electronic items that are substitute checks
  3. Warrants to each Reserve Bank handling the item that it has good title, that it is entitled to enforce the item, that the item has not been materially altered, and that the item bears all endorsements applied by parties that previously handled the item in paper or electronic form
  4. The sender makes all of the warranties set forth in the Uniform Commercial Code (UCC) as if the item were subject to the UCC and makes all of the Regulation CC warranties as if the electronic item were a paper item subject to that regulation

Answer(s): C,D



By sending an item to a Reserve Bank, a sender:

  1. Never authorizes the Reserve Bank to handle the item based on this regulation and the Reserve Bank's circulars
  2. Warranties for electronic items that are substitute checks
  3. Warrants to each Reserve Bank handling the item that it has good title, that it is entitled to enforce the item, that the item has not been materially altered, and that the item bears all endorsements applied by parties that previously handled the item in paper or electronic form
  4. The sender makes all of the warranties set forth in the Uniform Commercial Code (UCC) as if the item were subject to the UCC and makes all of the Regulation CC warranties as if the electronic item were a paper item subject to that regulation

Answer(s): C,D



By sending an item to a Reserve Bank, a sender:

  1. Never authorizes the Reserve Bank to handle the item based on this regulation and the Reserve Bank's circulars
  2. Warranties for electronic items that are substitute checks
  3. Warrants to each Reserve Bank handling the item that it has good title, that it is entitled to enforce the item, that the item has not been materially altered, and that the item bears all endorsements applied by parties that previously handled the item in paper or electronic form
  4. The sender makes all of the warranties set forth in the Uniform Commercial Code (UCC) as if the item were subject to the UCC and makes all of the Regulation CC warranties as if the electronic item were a paper item subject to that regulation

Answer(s): C,D



Page 125 of 344



Post your Comments and Discuss Banking CRCM exam with other Community members:

LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
upvote

LeAnne Hair commented on August 24, 2023
I think question 204 has an incorrect solution. It should be D-Regulation E
UNITED STATES
upvote

Igor commented on April 10, 2020
Guys, leave no stones unturned. Try to study every questions and anything other supplementary material you have. The exam is not easy. I just wrote mine and if it wss not for these questions I would have not have passed it.
BULGARIA
upvote

Lori commented on July 20, 2017
I had a good result. Worth the money.
UNITED STATES
upvote

Chipps commented on July 20, 2017
Studying from this dump helped me understand the concept and what comes in the exam. But I only get about 80 to 85% of the questions not 100% as it is claimed. Well... still good enough to pass.
UNITED STATES
upvote