American Bankers Association Exam CRCM Topic 4 Question 96 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 96
Topic #: 4

[All CRCM Questions]

A compliance professional is a member of the task force studying how the bank can reduce customer complaints about holding deposits. One proposed solution involves purchasing an expensive system that will reduce the number of holds placed by evaluating the customer's history and relationship with the bank. Which of the following roles is MOST important for the compliance professional on the task force?

ADeveloping training for tellers who will use the new system

BSetting parameters for what the system should review to determine the strength of the customer relationship

CValidating the system to ensure it complies with regulatory restrictions

DConducting a cost-benefit analysis to determine if the system is the best solution

Show Suggested Answer

Suggested Answer: D

by Jacklyn at Sep 13, 2024, 04:54 AM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel

Janessa

21 hours ago

I bet the tellers are going to love learning how to use the new system. Gotta make sure they're trained up properly, you know?

upvoted 0 times

...

Shawnda

5 days ago

Woah, hold on there! The compliance pro needs to do a cost-benefit analysis first. Can't just throw money at an expensive system without seeing if it's worth it.

upvoted 0 times

...

Odette

8 days ago

But wouldn't conducting a cost-benefit analysis also be important to determine if the system is worth the investment?

upvoted 0 times

...

Yolande

9 days ago

The compliance professional should definitely focus on validating the system to ensure it complies with regulatory restrictions. That's the most important role to protect the bank and its customers.

upvoted 0 times

...

Reena

11 days ago

I agree with Jina. Compliance with regulations is crucial in the banking industry.

upvoted 0 times

...

Jina

14 days ago

I think the compliance professional should focus on validating the system to ensure it complies with regulatory restrictions.

upvoted 0 times

...