American Bankers Association Exam CRCM Topic 6 Question 49 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 49
Topic #: 6

When is it possible for a bank to be exempted from compliance with some of the Government Securities Act custodial regulations?

AWhen the bank maintains its securities in the ordinary course of business

BWhen the bank has procedures in place to make sure it complies with the custodial regulations of its federal regulatory agency

CWhen the bank does not hold itself out as a government securities broker or dealer

DWhen the bank uses more than the normal standard of care when maintaining possession and control of securities

Show Suggested Answer

Suggested Answer: B

by Britt at May 08, 2022, 07:19 AM

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