American Bankers Association Exam CRCM Topic 4 Question 112 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 112
Topic #: 4

[All CRCM Questions]

The Reserve Bank may recover by charging any account on its books maintained by the sender if:

AThe Reserve Bank makes written demand to sender to assume defense of the proceeding

BAny action by the Reserve Bank within is the scope of its authority in handling the item

CThe sender has not made any other payment arrangement acceptable to the Reserve Bank

DThere is any warranty made by the Reserve Bank

Show Suggested Answer

Suggested Answer: A, C

by Erasmo at Jun 15, 2025, 06:05 PM

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Agustin

19 hours ago

I'd go with C. The Reserve Bank likes to keep things tidy, so if the sender hasn't made an acceptable payment arrangement, they're gonna come knocking on that account.

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Alfreda

2 days ago

Definitely B. The Reserve Bank can recover as long as it's acting within the scope of its authority. They're the experts, after all.

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Lajuana

3 days ago

I think the answer is C.

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Tawny

4 days ago

Hmm, I'm not sure. But I know the Reserve Bank has some serious power when it comes to recovering funds. They're like the financial superheroes, swooping in to save the day!

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Mitsue

5 days ago

I think the answer is C. The Reserve Bank can recover by charging the sender's account if the sender hasn't made any other payment arrangement acceptable to the Reserve Bank.

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Ardella

19 hours ago

I think the answer is C.

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