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Free CRCM Exam Braindumps
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) Questions 225–226 (page: 135)

Updated On: 9-Feb-2026
Page 135 of 276
PDF with 463 Questions

Which of the following businesses would be eligible to be an exempt person under the requirements of the Bank Secrecy Act?

  1. Jackson's Used Cars
  2. Evanston Recreational Boats
  3. Al Williams Seafood Restaurant
  4. Goldsmith Aircraft Distributors

Answer(s): C



Which of the following businesses would be eligible to be an exempt person under the requirements of the Bank Secrecy Act?

  1. Jackson's Used Cars
  2. Evanston Recreational Boats
  3. Al Williams Seafood Restaurant
  4. Goldsmith Aircraft Distributors

Answer(s): C



Fastfood, InC. , a nationwide restaurant chain, opened an account at First National Bank last year. Fastfood is making daily deposits in amounts of $15,000 to $20,000. First National needs to determine if this company is an exempt person. What should the bank do first?

  1. Because the restaurant is an established depositor, the bank should provide an unlimited exemption for cash deposits and withdrawals.
  2. The bank should look in the newspaper or on the Internet to determine if Fastfood, Inc's, stock appears on one of the listed exchanges.
  3. The bank should ask the company if it qualifies as a listed business.
  4. The bank should perform a corporate records check to determine if the company is chartered in the United States.

Answer(s): B



Fastfood, InC. , a nationwide restaurant chain, opened an account at First National Bank last year. Fastfood is making daily deposits in amounts of $15,000 to $20,000. First National needs to determine if this company is an exempt person. What should the bank do first?

  1. Because the restaurant is an established depositor, the bank should provide an unlimited exemption for cash deposits and withdrawals.
  2. The bank should look in the newspaper or on the Internet to determine if Fastfood, Inc's, stock appears on one of the listed exchanges.
  3. The bank should ask the company if it qualifies as a listed business.
  4. The bank should perform a corporate records check to determine if the company is chartered in the United States.

Answer(s): B



Fastfood, InC. , a nationwide restaurant chain, opened an account at First National Bank last year. Fastfood is making daily deposits in amounts of $15,000 to $20,000. First National needs to determine if this company is an exempt person. What should the bank do first?

  1. Because the restaurant is an established depositor, the bank should provide an unlimited exemption for cash deposits and withdrawals.
  2. The bank should look in the newspaper or on the Internet to determine if Fastfood, Inc's, stock appears on one of the listed exchanges.
  3. The bank should ask the company if it qualifies as a listed business.
  4. The bank should perform a corporate records check to determine if the company is chartered in the United States.

Answer(s): B



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