Records that must be retained for deposit accounts include which of the following?
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A. B. C. D.D
The term "CRCM" typically refers to the Certified Regulatory Compliance Manager certification, which is offered by the Institute of Certified Bankers. However, the context of the question suggests that "CRCM" may be an acronym for something else specific to the exam.
Assuming that the question is referring to record retention requirements for deposit accounts, the answer is likely to be (C) "All amounts of currency deposited or withdrawn."
Under the Bank Secrecy Act (BSA), financial institutions are required to maintain certain records related to their customers' transactions. Specifically, they must retain records of currency transactions involving more than $10,000 in a single day, as well as any transactions that the institution suspects may be related to money laundering or other criminal activity.
In addition to these BSA requirements, there may be other record retention requirements that apply to deposit accounts. For example, the institution may be required to retain records of the customer's average daily balance or overdraft history for a certain period of time.
However, based on the options provided in the question, the most comprehensive answer would be (C) "All amounts of currency deposited or withdrawn." This would cover the BSA requirements as well as any other record retention requirements that may apply to deposit accounts.
It's worth noting that there may be additional record retention requirements beyond those listed in the question. Financial institutions should consult with their legal and compliance teams to ensure that they are complying with all applicable laws and regulations.