Regulation CC - CRCM Study Guide UPDATED ACTUAL Exam Questions and CORRECT Answers

Regulation CC - CRCM Study Guide
UPDATED ACTUAL Exam Questions and
CORRECT Answers
What is the purpose of Reg. CC? - CORRECT ANSWER - Provide customers with
information for when their funds will be available at their bank.


What are the two types of holds under Reg. CC? - CORRECT ANSWER - 1 - Case-by-
Case hold
2- Exception hold


What are the two types of items under Reg. CC? - CORRECT ANSWER - 1 - "Next Day"
items
2 - "Local" items


True or False?


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


What accounts are covered under Reg. CC? - CORRECT ANSWER - DDA & NOW



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


When does a business day start under Reg. CC? - CORRECT ANSWER - 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.? - CORRECT ANSWER - -Cash