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ABA CRCM Practice Test - Questions Answers, Page 39

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Question 381

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It is the policy of First Safe Bank to offer credit life insurance and accident and disability insurance to all consumer loan customers. What procedures fulfill the disclosure requirements for the bank?

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Question 382

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Which of the following is (are) NOT covered by the regulation?

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Question 383

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A bank representative is selling insurance products in, or on behalf of, the bank. What may the representative NOT require the customer to do?

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Question 384

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A recent compliance review revealed that several branch officers are using obsolete loan application forms, which do not include disclosures related to credit insurance sales. Which of the following steps should be taken FIRST?

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Question 385

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Which of the following entities is exempt from the requirements of the Government Securities Act?

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Question 386

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If a bank is a government securities broker or dealer, what are its responsibilities when it obtains a Form G-FIN-4 or an MSD-4 from an employee?

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Question 387

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In which of the following activities may a bank engage and NOT be considered a municipal securities dealer?

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Question 388

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A bank municipal securities dealer has 30 employees in its municipal securities operation. How many municipal securities principals must it have?

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Question 389

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First National Bank is a municipal securities dealer. Its municipal securities department is supervised by Mary Watkins, a municipal securities principal. The department has five other employees, including two municipal securities representatives. Martin Wells, a commercial loan customer of the bank, tells Ms. Watkins he wants to invest in municipal securities and asks for her help. Mr. Wells has never dealt with the municipal securities department of the bank and has never purchased municipal securities. He wants to purchase the securities today. What should Ms. Watkins do?

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Question 390

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Which of the following actions is NOT required of a municipal securities principal?

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