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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Diane

1 months ago

Options A and C sound a bit too limited. I'm going to play it safe and choose D - a 30-day written history seems like the best compromise.

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Tequila

1 months ago

Ha, I bet the exam writers had a field day coming up with these options. Personally, I'm going with B - can't go wrong with 60 days of electronic history!

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Freeman

4 days ago

Yeah, it's always good to have a longer period of account history available.

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Brandee

1 months ago

I think so too, having a 60-day electronic history is definitely helpful.

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Jean

1 months ago

I agree, option B seems like the most reliable choice.

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Rochell

2 months ago

Hmm, I'm not sure. This is a tricky one. I guess I'll go with C, since a 15-day written history is better than nothing.

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Val

2 months ago

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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Kristeen

17 days ago

User 3: Yeah, I also think D is the way to go for better accountability.

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Becky

18 days ago

User 2: I agree, having a tangible record of transactions is important.

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Alida

1 months ago

User 1: I think D is the better option because having a written history is more reliable.

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Eleni

2 months 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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Clay

20 hours ago

It's important to have access to that information when needed.

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Afton

16 days ago

Having a detailed electronic history for at least 60 days is really helpful.

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Kris

2 months ago

I agree, option B does seem like the best choice.

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Elmer

2 months 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

2 months 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

3 months ago

I think the answer is B.

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