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Exam CRCM topic 1 question 54 discussion

Actual exam question from ABA's CRCM
Question #: 54
Topic #: 1
[All CRCM Questions]

OCC advisory on credit card practice-AL-2004-10 in credit card practices covers:

  • A. Finance and credit management practices that may be unfair or deceptive and expose a bank to compliance and reputation risk
  • B. Marketing and account management practices that may be unfair or deceptive and expose a bank to compliance and reputation risk
  • C. Marketing and account management practices
  • D. Marketing and account management practices that may be fair and can't expose a bank to compliance and reputation risk
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Suggested Answer: B 🗳️

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Cam22
4 months ago
Selected Answer: B
The OCC advisory on credit card practices (AL-2004-10) specifically covers marketing and account management practices that may be considered unfair or deceptive. These practices have the potential to expose a bank to compliance and reputation risks, as outlined by the Office of the Comptroller of the Currency (OCC).
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