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Exam CRCM topic 1 question 174 discussion

Actual exam question from ABA's CRCM
Question #: 174
Topic #: 1
[All CRCM Questions]

By presentation or transmission of an item a Reserve Bank warrants to a subsequent collecting bank and paying bank that:

  • A. The Reserve Bank has good title to the item
  • B. The item has not been altered
  • C. The item bears all endorsements applied by parties that have previously handled the item in paper or electronic form
  • D. All of these
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Suggested Answer: D 🗳️

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Cam22
4 months ago
Selected Answer: D
The correct answer is D. All of these. When a Reserve Bank presents or transmits an item, it warrants to any subsequent collecting bank and paying bank that it has good title to the item, the item has not been altered, and the item bears all endorsements applied by parties that have previously handled the item, whether in paper or electronic form. These warranties are essential to ensure the integrity, trust, and efficiency of the banking and payment system, allowing banks to rely on the validity, authenticity, and proper endorsement of items as they are processed and collected.
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