American Bankers Association Exam CRCM Topic 5 Question 97 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 97
Topic #: 5

[All CRCM Questions]

Records that must be retained for deposit accounts include which of the following?

AAverage daily balance

BOverdraft history

CAll amounts of currency deposited or withdrawn

DCustomer's TIN

Show Suggested Answer

Suggested Answer: D

by Melita at Sep 18, 2024, 02:38 PM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel

Rossana

1 months ago

Hmm, I'm not sure. Maybe A? I could see the average daily balance being a key metric to track.

upvoted 0 times

Berry

16 hours ago

I think you're right, that seems like an important record to retain.

upvoted 0 times

...

Leota

2 days ago

A) Average daily balance

upvoted 0 times

...

Corrinne

1 months ago

I'm going to go with B. Overdraft history is crucial for understanding a customer's banking habits.

upvoted 0 times

...

Shawnda

1 months ago

D seems like the right choice to me. The customer's TIN is important for tax reporting purposes.

upvoted 0 times

Tiffiny

8 days ago

Absolutely, the customer's TIN is essential information to have on file.

upvoted 0 times

...

Royal

9 days ago

Yes, D is the correct choice for records that must be retained for deposit accounts.

upvoted 0 times

...

Margart

10 days ago

I agree, the customer's TIN is crucial for tax reporting.

upvoted 0 times

...

Elouise

11 days ago

D) Customer's TIN

upvoted 0 times

...

Zana

18 days ago

C) All amounts of currency deposited or withdrawn

upvoted 0 times

...

Samira

24 days ago

B) Overdraft history

upvoted 0 times

...

Izetta

27 days ago

A) Average daily balance

upvoted 0 times

...

Marnie

1 months ago

I think the correct answer is C. It makes sense to keep records of all deposit and withdrawal amounts.

upvoted 0 times

Lynna

3 days ago

Overdraft history can provide valuable insights into a customer's financial behavior.

upvoted 0 times

...

Hermila

5 days ago

Average daily balance is also crucial to track for deposit accounts.

upvoted 0 times

...

Jani

7 days ago

I think it's also important to retain the customer's TIN for tax purposes.

upvoted 0 times

...

Leandro

11 days ago

I agree, keeping records of all deposit and withdrawal amounts is important.

upvoted 0 times

...

Christiane

2 months ago

I'm not sure, but I think D) Customer's TIN should also be retained for deposit accounts to verify the customer's identity.

upvoted 0 times

...

Julio

2 months ago

I agree with Agustin, because it's important to keep track of all deposits and withdrawals for record-keeping purposes.

upvoted 0 times

...

Agustin

2 months ago

I think the answer is C) All amounts of currency deposited or withdrawn.

upvoted 0 times

...