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Exam CRCM topic 1 question 302 discussion

Actual exam question from ABA's CRCM
Question #: 302
Topic #: 1
[All CRCM Questions]

Which of the following is NOT a requirement of Regulation F?

  • A. Writing and maintaining policies and procedures for managing exposure to correspondent banks
  • B. Monitoring the exposure to correspondent banks on a regular basis
  • C. Establishing internal limits on exposure to correspondents
  • D. Providing quarterly reports to the board of directors of compliance audit results
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Suggested Answer: D 🗳️

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Cam22
2 months ago
Selected Answer: D
Regulation F, also known as 12 CFR Part 250, outlines the requirements for relationships between member banks and their correspondent banks. However, providing quarterly reports to the board of directors of compliance audit results is not specifically mentioned as a requirement under Regulation F. While internal audits and reporting mechanisms are important for regulatory compliance and risk management, they are not explicitly outlined in Regulation F. Therefore, option D is the correct choice.
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