Free Practice American Bankers Association CRCM Exam Questions 2025

Stay ahead with 100% Free Certified Regulatory Compliance Manager CRCM Dumps Practice Questions

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Total 465 Questions | Updated On: Jun 04, 2025

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Question 1

James Walker DBA Walker Enterprises has been a customer of the bank for one month. The company told the bank that it would regularly make deposits in excess of $10,000 because it operates several laundromats in the city. The bank performed a background check on the company before opening the account. For its first 30 days, the company made 12 large cash deposits. Can the bank exempt this company now? Why or why not?

A : No. It is a not a corporation, but a sole proprietorship.

B : No. It has not maintained an account at the bank for 12 months.

C : No. It operates an ineligible business.

D : Yes. The bank conducted due diligence on the customer to determine that it had legitimate largecash transactions.

Answer: D

Question 2

Your institution has identified a transaction by an existing depositor that should be blocked under

OFAC requirements. The branch manager contacts you for specific instructions. Before reporting the

transaction to OFAC, what should the bank do?

A : Reject the transaction

B : Process the transaction

C : Close the customer’s account

D : Place the funds in an interest-bearing account

Answer: D

Question 3

Electronic funds transfers’ requirements say that transfers that vary in amount must be communicated to the designated payee within _______________before the scheduled transfer or may give the consumer the option of receiving notice only when a transfer falls outside a specified range of amounts.

A : 10 days

B : 20 days

C : 30 days

D : 15 days

Answer: A

Question 4

By presentation or transmission of an item a Reserve Bank warrants to a subsequent collecting bank

and paying bank that:

A : The Reserve Bank has good title to the item

B : The item has not been altered

C : The item bears all endorsements applied by parties that have previously handled the item in paperor electronic form

D : All of these

Answer: D

Question 5

______________ should include basic elements designed to understand and mitigate risk. It usually includes: Written program Compliance-related policies and procedures

A : Tactical Compliance procedure

B : Rank solution

C : Compliance program

D : None of these

Answer: C

Page: 1 / 93

Total 465 Questions | Updated On: Jun 04, 2025

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