American Bankers Association Exam CRCM Topic 1 Question 103 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 103
Topic #: 1

First National Bank advises Country A, a boycotting country, on various U.S. investments. Country A instructs First National Bank not to recommend for investment any shares of certain blacklisted companies. First National Bank follows this instruction. Has First National Bank participated or cooperated in an international boycott under the IRS regulations by this action?

AYes. The companies are the subject of a boycott.

BNo. The bank may agree not to recommend certain companies.

CYes, if the companies are part of a boycott.

DNo, but the bank must report this action to the IRS.

Show Suggested Answer

Suggested Answer: B

by Dierdre at Nov 13, 2024, 09:24 AM

Limited Time Offer

25%

Off

Get Premium CRCM Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Currently there are no comments in this discussion, be the first to comment!