Welcome to ExamTopics
ExamTopics Logo
- Expert Verified, Online, Free.

Unlimited Access

Get Unlimited Contributor Access to the all ExamTopics Exams!
Take advantage of PDF Files for 1000+ Exams along with community discussions and pass IT Certification Exams Easily.

Exam CRCM topic 1 question 194 discussion

Actual exam question from ABA's CRCM
Question #: 194
Topic #: 1
[All CRCM Questions]

Initial disclosure under Electronic funds transfer act includes:

  • A. A summary of the consumer's liability for unauthorized transfers
  • B. Telephone number and address of person or office to be notified in case of any authorized transfer
  • C. The type of EFT the consumer may make and any limitations on EFTs
  • D. A summary of institution's liability to consumer for failure to make or stop transactions
Show Suggested Answer Hide Answer
Suggested Answer: ACD 🗳️

Comments

Chosen Answer:
This is a voting comment (?) , you can switch to a simple comment.
Switch to a voting comment New
Dex24
1 month, 2 weeks ago
A, C, D page 630
upvoted 1 times
...
Cam22
3 months, 3 weeks ago
Selected Answer: C
The correct answer is C. The type of EFT the consumer may make and any limitations on EFTs. Initial disclosures under the Electronic Fund Transfer Act (EFTA) indeed include information about the types of electronic fund transfers a consumer is allowed to make and any limitations on such transfers, among other key details. However, the question seems to be seeking a specific aspect of the initial disclosures, and option C directly addresses an essential component of these disclosures. Nonetheless, it's important to note that the initial disclosure requirements under EFTA, implemented by Regulation E, actually encompass all the elements listed in the options, including summaries of consumer liability for unauthorized transfers, contact information for reporting unauthorized transfers, and details about the institution's liability. Therefore, a more comprehensive answer would recognize that initial disclosures cover a broad range of information to protect and inform the consumer, not just the types and limitations of EFTs.
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
Loading ...
ex Want to SAVE BIG on Certification Exam Prep?
close
ex Unlock All Exams with ExamTopics Pro 75% Off
  • arrow Choose From 1000+ Exams
  • arrow Access to 10 Exams per Month
  • arrow PDF Format Available
  • arrow Inline Discussions
  • arrow No Captcha/Robot Checks
Limited Time Offer
Ends in