American Bankers Association Exam CRCM Topic 1 Question 107 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 107
Topic #: 1

[All CRCM Questions]

As an alternative to providing a periodic statement, a financial institution holding payroll card accounts may make available:

AThe account balance, accessed through a readily available telephone line

BAn electronic history of the account that covers a period of at least 60 days preceding the time the consumer electronically accesses the account

CA written history of account transactions, available on request that covers a period of at least 15 days preceding the date of the consumer request

DA written history of account transactions, available on request that covers a period of at least 30 days preceding the date of the consumer request

Show Suggested Answer

Suggested Answer: B

by Izetta at Feb 07, 2025, 02:06 PM

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Val

I'm torn between B and D, but I think D might be the better option since a written history is more tangible than just electronic access.

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Eleni

5 days ago

Option B seems like the most comprehensive answer, providing a detailed electronic history of the account for at least 60 days.

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Elmer

17 days ago

I'm not sure, but I think option C could also be a good choice. Having a written history of account transactions available on request for at least 15 days seems reasonable.

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Aron

20 days ago

I agree with Catina, because providing an electronic history of the account for at least 60 days is more convenient for consumers.

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Catina

23 days ago

I think the answer is B.

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