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Exam CRCM topic 1 question 53 discussion

Actual exam question from ABA's CRCM
Question #: 53
Topic #: 1
[All CRCM Questions]

Which one of the following types of credit may be extended in Requirements case-12 CFR 221.3, 221.7:

  • A. Temporary advances in payment against delivery transactions
  • B. Capital contribution leases
  • C. Credit to clearing banking authorities
  • D. Underwriter loans
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Suggested Answer: AD 🗳️
by Cam22 at March 15, 2024, 1:34 a.m.

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Dex24
7 months ago
Page 76 clearly lists both, A &D. However, we need to pick one. Not sure what to do in cases like this. I have a list of questions already where I have this same scenario.
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Cam22
8 months, 3 weeks ago
Selected Answer: A
Temporary advances in payment against delivery transactions are a type of credit that may be extended under the requirements outlined in 12 CFR 221.3 and 221.7. These transactions involve providing short-term financing to facilitate the delivery of securities in securities transactions.
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A (35%)
C (25%)
B (20%)
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