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CRCM Regulation CC Study Guide Verified Questions And Answers $9.99   Add to cart

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CRCM Regulation CC Study Guide Verified Questions And Answers

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CRCM Regulation CC Study Guide Verified Questions And Answers What is the purpose of Reg. CC? ANS Provide customers with information for when their funds will be available at their bank. What are the two types of holds under Reg. CC? ANS 1 - Case-by-Case hold 2- Exception hold What are th...

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  • October 3, 2024
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  • 2024/2025
  • Exam (elaborations)
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CRCM Regulation CC Study Guide Verified
Questions And Answers
What is the purpose of Reg. CC? ANS Provide customers with information for when their funds will be
available at their bank.



What are the two types of holds under Reg. CC? ANS 1 - Case-by-Case hold

2- Exception hold



What are the two types of items under Reg. CC? ANS 1 - "Next Day" items

2 - "Local" items


True or False?



Reg. CC applies to personal checking accounts only. ANS False - Reg. CC applies to both business and
personal account



What accounts are covered under Reg. CC? ANS DDA & NOW



What is a business day under Reg. CC? ANS All calendar days except Saturdays, Sundays, and the 10
designated federal holidays.



When does a business day start under Reg. CC? ANS The later of 9:00 a.m. or when the bank is available
or withdrawals (including ATMs)



Names the items that must be available next day if deposited in person to an employee of the bank.? ANS -
Cash
-Electronic
-U.S. Postal Service money orders

-State and local government checks
-Cashier's, certified, and teller's checks
-Lesser of $200 or aggregate of all check not subject to next day availability

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