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Free CRCM Exam Braindumps (page: 169)

Page 168 of 344
PDF with 463 Questions

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



First National Bank is attempting to determine which of the following customers would qualify as exempt persons:
· Nationwide Foods, Inc , is a national company with stock listed on the New York Stock Exchange
· National Paper Products, is a wholly owned subsidiary of Nationwide Foods, Inc · Products Incorporated, a depositor for three months, is a regional company whose stock is designated a NASDAQ Capital Markets Company and that sells and leases large boats
· Century Enterprises, a local company owning several local restaurants, is a long- time bank customer and frequently makes deposits in excess of $10,000. All of Century's stock is owned by a local family. Which of these customers would qualify as an exempt person?

  1. All except for Nationwide Foods, Inc
  2. All except for National Paper Products
  3. All except for Century Enterprises
  4. All except for Products Incorporated

Answer(s): D



First National Bank is attempting to determine which of the following customers would qualify as exempt persons:
· Nationwide Foods, Inc , is a national company with stock listed on the New York Stock Exchange
· National Paper Products, is a wholly owned subsidiary of Nationwide Foods, Inc · Products Incorporated, a depositor for three months, is a regional company whose stock is designated a NASDAQ Capital Markets Company and that sells and leases large boats
· Century Enterprises, a local company owning several local restaurants, is a long- time bank customer and frequently makes deposits in excess of $10,000. All of Century's stock is owned by a local family. Which of these customers would qualify as an exempt person?

  1. All except for Nationwide Foods, Inc
  2. All except for National Paper Products
  3. All except for Century Enterprises
  4. All except for Products Incorporated

Answer(s): D






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