Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

American Bankers Association Exam CRCM Topic 7 Question 79 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 79
Topic #: 7
[All CRCM Questions]

For which of the following business activities must a bank holding company obtain prior approval of the Federal Reserve Board?

Show Suggested Answer Hide Answer
Suggested Answer: B

by Gracia at Dec 27, 2023, 12:58 PM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel
Fletcher
2 months ago
I bet the Fed is just waiting for a bank to try and start selling used cars. 'Sorry, not on my watch!'
upvoted 0 times
Bettina
21 days ago
C) Operating as a management consulting firm for financial institutions
upvoted 0 times
...
King
29 days ago
B) Serving as a safe deposit company
upvoted 0 times
...
Mable
1 months ago
A) Operating an auto club service
upvoted 0 times
...
...
Gussie
2 months ago
Wait, they can't just open up a car wash on the side? Talk about diversifying your portfolio!
upvoted 0 times
...
Cassie
2 months ago
C) Operating as a management consulting firm for financial institutions - now that's a curve ball! Definitely not something a bank would do without getting the Fed's okay.
upvoted 0 times
Lavonna
12 days ago
C) Operating as a management consulting firm for financial institutions
upvoted 0 times
...
Agustin
14 days ago
B) Serving as a safe deposit company
upvoted 0 times
...
Valentin
18 days ago
D) Selling installment loan data processing
upvoted 0 times
...
Jade
20 days ago
C) Operating as a management consulting firm for financial institutions
upvoted 0 times
...
Tori
22 days ago
B) Serving as a safe deposit company
upvoted 0 times
...
Chauncey
27 days ago
A) Operating an auto club service
upvoted 0 times
...
Thomasena
1 months ago
A) Operating an auto club service
upvoted 0 times
...
...
Goldie
2 months ago
D) Selling installment loan data processing is an interesting one. I could see that needing approval, but I'm not totally sure.
upvoted 0 times
...
Shawn
2 months ago
A) Operating an auto club service? That's a bit of a stretch for a bank holding company, don't you think?
upvoted 0 times
Dorathy
9 days ago
Selling installment loan data processing might require approval from the Federal Reserve Board.
upvoted 0 times
...
Refugia
25 days ago
Operating as a management consulting firm for financial institutions could be beneficial for a bank holding company.
upvoted 0 times
...
Latrice
1 months ago
C) Operating as a management consulting firm for financial institutions
upvoted 0 times
...
Arlean
1 months ago
I think serving as a safe deposit company would make more sense for a bank holding company.
upvoted 0 times
...
Lashaunda
2 months ago
B) Serving as a safe deposit company
upvoted 0 times
...
Geraldo
2 months ago
C) Operating as a management consulting firm for financial institutions
upvoted 0 times
...
Stacey
2 months ago
B) Serving as a safe deposit company
upvoted 0 times
...
Kris
2 months ago
I agree, operating an auto club service seems unrelated to banking.
upvoted 0 times
...
...
Evan
3 months ago
I'm not sure, but I think C) Operating as a management consulting firm for financial institutions might also require approval due to potential conflicts of interest.
upvoted 0 times
...
Krissy
3 months ago
I agree with Joye, because holding deposits is a core banking activity that requires regulatory approval.
upvoted 0 times
...
Joye
3 months ago
I think the answer is B) Serving as a safe deposit company.
upvoted 0 times
...
Justine
3 months ago
B) Serving as a safe deposit company seems like the most likely answer. Banks typically need approval for activities outside their core banking services.
upvoted 0 times
Hyman
1 months ago
Definitely, it's important for banks to get approval for activities outside of traditional banking.
upvoted 0 times
...
Tegan
2 months ago
I agree, it makes sense that the Federal Reserve Board would want to oversee that.
upvoted 0 times
...
Shay
2 months ago
Yeah, banks usually need approval for services like that.
upvoted 0 times
...
Jillian
2 months ago
I think B) Serving as a safe deposit company is correct.
upvoted 0 times
...
...
Tanesha
3 months ago
I'm not sure, but I think it's D) Selling installment loan data processing because it involves sensitive financial information.
upvoted 0 times
...
Deja
3 months ago
I agree with Lanie, because it involves holding customer assets.
upvoted 0 times
...
Lanie
3 months ago
I think it's B) Serving as a safe deposit company.
upvoted 0 times
...

Save Cancel