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Exam CRCM topic 1 question 316 discussion

Actual exam question from ABA's CRCM
Question #: 316
Topic #: 1
[All CRCM Questions]

Which of the following pieces of information is the bank NOT required to report on Form 1099 for foreclosed and abandoned property?

  • A. The name, address, and TIN of the borrowers
  • B. A description of the property
  • C. The original loan amount
  • D. Whether the borrower is personally liable for the debt
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Suggested Answer: C 🗳️
by Cam22 at March 18, 2024, 2:15 a.m.

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Cam22
1 month, 2 weeks ago
Selected Answer: C
Which of the following pieces of information is the bank NOT required to report on Form 1099 for foreclosed and abandoned property? A. The name, address, and TIN of the borrowers B. A description of the property C. The original loan amount D. Whether the borrower is personally liable for the debt
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A (35%)
C (25%)
B (20%)
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