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Free CRCM Exam Braindumps (page: 125)

Page 124 of 344
PDF with 463 Questions

One of the check collection requirements is sending items to Reserve Banks. In this requirement:

  1. A sender other than a Reserve Bank may send any item to the Reserve Bank with which it maintains an account
  2. The following parties are deemed to have handled items, in this order:
    · The initial sender
    · The initial sender's administrative Reserve Bank · The Reserve Bank that receives the item from the initial sender · Any other Reserve Bank that receives the item from a Reserve Bank
  3. Reserve Banks must receive cash items and other items (checks) at par
  4. A foreign bank that maintains reserves under the International Banking Act of 1978

Answer(s): A,B,C



One of the check collection requirements is sending items to Reserve Banks. In this requirement:

  1. A sender other than a Reserve Bank may send any item to the Reserve Bank with which it maintains an account
  2. The following parties are deemed to have handled items, in this order:
    · The initial sender
    · The initial sender's administrative Reserve Bank · The Reserve Bank that receives the item from the initial sender · Any other Reserve Bank that receives the item from a Reserve Bank
  3. Reserve Banks must receive cash items and other items (checks) at par
  4. A foreign bank that maintains reserves under the International Banking Act of 1978

Answer(s): A,B,C



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



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






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