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Free CRCM Exam Braindumps (page: 185)

Page 185 of 344
PDF with 463 Questions

A compliance officer is constructing a review of a transaction in which M, a deposit account customer, used cash to purchase travelers' checks in an amount of $4,000. The compliance officer must determine compliance with financial recordkeeping and currency reporting regulations. Which of the following pieces of information must be part of the bank's records for this transaction?

  1. M's date of birth
  2. M's deposit account number
  3. The serial numbers of the travelers' checks purchased
  4. The name of the branch where the transaction occurred

Answer(s): C



A compliance officer is constructing a review of a transaction in which M, a deposit account customer, used cash to purchase travelers' checks in an amount of $4,000. The compliance officer must determine compliance with financial recordkeeping and currency reporting regulations. Which of the following pieces of information must be part of the bank's records for this transaction?

  1. M's date of birth
  2. M's deposit account number
  3. The serial numbers of the travelers' checks purchased
  4. The name of the branch where the transaction occurred

Answer(s): C



A compliance officer is constructing a review of a transaction in which M, a deposit account customer, used cash to purchase travelers' checks in an amount of $4,000. The compliance officer must determine compliance with financial recordkeeping and currency reporting regulations. Which of the following pieces of information must be part of the bank's records for this transaction?

  1. M's date of birth
  2. M's deposit account number
  3. The serial numbers of the travelers' checks purchased
  4. The name of the branch where the transaction occurred

Answer(s): C



When all the required information is NOT provided by a person purchasing a cashier's check with $8,000 in currency, what should the bank do?

  1. Refuse the transaction
  2. Complete the transaction and record available information
  3. Complete the transaction and file a SAR
  4. Complete the transaction and insist that the customer return with the required information

Answer(s): A



Page 185 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
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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
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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