Free American Bankers Association CRCM Exam Questions

Become American Bankers Association Certified with updated CRCM exam questions and correct answers

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Total 465 Questions | Updated On: Dec 18, 2025

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Question 1

It means a direction by the consumer that the financial institution not discloses nonpublic personal information about the consumer to a non-affiliated third party, except as permitted by the regulation. What is it?

A : Opt-out

B : Re-disclosure

C : Non-affiliated

D : Both B and C

Answer: A

Question 2

Which of the following is an accurate statement according to the requirements of the customer identification program regulations?

A : A bank must always require documentary verification of a customer’s identification

B : A bank may waive any part of the CIP requirements if senior management approves the waiver and there is a good cause

C : A physical address or a post office box is acceptable for any new customer

D : The bank’s CIP program must enable it to form a reasonable belief about the identity of the person

Answer: D

Question 3

On foreclosure, which of the following loans is subject to the reporting requirements for foreclosed and abandoned property?

A : A loan made to purchase a family car, secured by the car

B : An unsecured loan made to purchase a computer used in the borrower’s business

C : A loan made to purchase a residence, secured by the residence

D : A loan made to purchase a home computer, secured by the computer

Answer: C

Question 4

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 5

Your institution has identified a transaction by an existing depositor that should be blocked underOFAC requirements. The branch manager contacts you for specific instructions. Before reporting thetransaction 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

Page: 1 / 93

Total 465 Questions | Updated On: Dec 18, 2025

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