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Exam CRCM topic 1 question 67 discussion

Actual exam question from ABA's CRCM
Question #: 67
Topic #: 1
[All CRCM Questions]

This is a loan term or an arrangement that modifies a loan term under which a bank agrees to suspend all or part of a customer's loan obligation on the occurrence of a specified event. It May be a part of the loan itself or a separate agreement. Does not include a loan payment deferral arrangement where the borrower or the bank can unilaterally defer a payment. What is it?

  • A. Debt suspension agreement (DSA)
  • B. Anti-dying
  • C. Debt cancellation contract (DCC)
  • D. ALLL
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Suggested Answer: A 🗳️
by Cam22 at March 15, 2024, 2:09 a.m.

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Cam22
7 months, 1 week ago
Selected Answer: A
A debt suspension agreement (DSA) is a loan term or arrangement where a bank agrees to suspend all or part of a customer's loan obligation on the occurrence of a specified event. It may be included as part of the loan itself or as a separate agreement. It differs from a debt cancellation contract (DCC), which cancels all or part of the customer's loan obligation in certain circumstances.
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