ExamTopics Logo
Mail Us[email protected]
Menu
Aba Discussions
exam questions

Exam CRCM All Questions

View all questions & answers for the CRCM exam
Go to Exam

Exam CRCM topic 1 question 247 discussion

Actual exam question from ABA's CRCM
Question #: 247
Topic #: 1
[All CRCM Questions]

When completing and filing a SAR, what is the bank NOT required to do?

  • A. Submit a copy of the supporting documentation with the SAR
  • B. Submit the SAR within 30 days of the initial detection of facts
  • C. Report the SAR information to the bank's board of directors
  • D. Maintain a copy of the SAR and supporting documentation for 5 years
Show Suggested Answer Hide Answer
Suggested Answer: A 🗳️
by Cam22 at March 17, 2024, 1:53 a.m.

Comments

Chosen Answer:
This is a voting comment (?). It is better to Upvote an existing comment if you don't have anything to add.
Switch to a voting comment New
Submit Cancel
Cam22
4 months ago
Selected Answer: A
When completing and filing a Suspicious Activity Report (SAR), the bank is not required to submit a copy of the supporting documentation with the SAR itself. Instead, the bank should retain the supporting documentation internally for its records. The SAR should contain sufficient information to support the suspicion of illicit activity, but detailed supporting documentation is not submitted with the SAR itself.
upvoted 1 times
...
Community vote distribution
A (35%)
C (25%)
B (20%)
Other
Most Voted
A voting comment increases the vote count for the chosen answer by one.

Upvoting a comment with a selected answer will also increase the vote count towards that answer by one. So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.

SaveCancel
exam
Someone Bought Contributor Access for:
SY0-701
London, 1 minute ago