American Bankers Association Exam CRCM Topic 8 Question 93 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 93
Topic #: 8

[All CRCM Questions]

During a EFT, if the institution determines that no error has occurred or that an error occurred in a manner or amount different than the alleged error, it:

AMust notify the consumer in writing of the date and amount of the debit to account and the fact that the institution will continue to honor checks and preauthorized transfers payable to third parties for seven business days

BMust promptly provide on request copies of documentation on which institution relied on to determined that no error occurred

CMust pay only items that the institution would have paid if the provisionally credited funds had not been debited

DAny of these

Show Suggested Answer

Suggested Answer: B

by Mose at Jul 14, 2024, 10:59 PM

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Anjelica

21 hours ago

I think the correct answer is B. The institution must provide the documentation on request. That's the most straightforward compliance requirement.

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Kate

12 days ago

Yes, I also believe the correct answer is D) Any of these, as the institution must pay only items they would have paid if the provisionally credited funds had not been debited.

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Reena

16 days ago

I agree with Ashley, because the institution should notify the consumer in writing and provide documentation upon request.

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Ashley

25 days ago

I think the answer is D) Any of these.

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