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Free CRCM Exam Braindumps
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) Questions 234–235 (page: 140)

Updated On: 9-Feb-2026
Page 140 of 276
PDF with 463 Questions

Mammoth Enterprises is a new customer to the bank. It is a wholly owned subsidiary of Mammoth Corporation. Which of the following statements, if true, would make Mammoth Enterprises an exempt customer at the bank?

  1. Mammoth Corporation is a London corporation, trading on the London Stock Exchange.
  2. Mammoth Corporation is a U.S. corporation with unlisted stock.
  3. Mammoth Corporation is a U.S. corporation trading on the American Stock Exchange.
  4. Mammoth Enterprises is a U.S. corporation primarily in the investment banking business.

Answer(s): C



Mammoth Enterprises is a new customer to the bank. It is a wholly owned subsidiary of Mammoth Corporation. Which of the following statements, if true, would make Mammoth Enterprises an exempt customer at the bank?

  1. Mammoth Corporation is a London corporation, trading on the London Stock Exchange.
  2. Mammoth Corporation is a U.S. corporation with unlisted stock.
  3. Mammoth Corporation is a U.S. corporation trading on the American Stock Exchange.
  4. Mammoth Enterprises is a U.S. corporation primarily in the investment banking business.

Answer(s): C



In April Lillian Redmond, the teller supervisor for First National Bank, discovers five counterfeit $20 bills in several teller drawers. In May and in June she discovers two additional counterfeit $20 bills. She has no knowledge of criminal activity on the part of any of the bank's employees or customers. She does not suspect any particular person in this transaction. Which of the following statements is true?

  1. Ms. Redmond must report the counterfeit funds on a SAR and must name the most likely individual(s) on the report.
  2. Ms. Redmond must report the counterfeit funds on a SAR but is not required to name any individual(s) on the report.
  3. Ms. Redmond need not file a SAR on this incident because the total amount is less than $25,000.
  4. Ms. Redmond need not report this incident on a SAR because each incident is less than $5,000.

Answer(s): C



In April Lillian Redmond, the teller supervisor for First National Bank, discovers five counterfeit $20 bills in several teller drawers. In May and in June she discovers two additional counterfeit $20 bills. She has no knowledge of criminal activity on the part of any of the bank's employees or customers. She does not suspect any particular person in this transaction. Which of the following statements is true?

  1. Ms. Redmond must report the counterfeit funds on a SAR and must name the most likely individual(s) on the report.
  2. Ms. Redmond must report the counterfeit funds on a SAR but is not required to name any individual(s) on the report.
  3. Ms. Redmond need not file a SAR on this incident because the total amount is less than $25,000.
  4. Ms. Redmond need not report this incident on a SAR because each incident is less than $5,000.

Answer(s): C



In April Lillian Redmond, the teller supervisor for First National Bank, discovers five counterfeit $20 bills in several teller drawers. In May and in June she discovers two additional counterfeit $20 bills. She has no knowledge of criminal activity on the part of any of the bank's employees or customers. She does not suspect any particular person in this transaction. Which of the following statements is true?

  1. Ms. Redmond must report the counterfeit funds on a SAR and must name the most likely individual(s) on the report.
  2. Ms. Redmond must report the counterfeit funds on a SAR but is not required to name any individual(s) on the report.
  3. Ms. Redmond need not file a SAR on this incident because the total amount is less than $25,000.
  4. Ms. Redmond need not report this incident on a SAR because each incident is less than $5,000.

Answer(s): C



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