CAMS · Question #837
CAMS Question #837: Real Exam Question with Answer & Explanation
The correct answer is B. Implementing a standardized procedure for customer termination that includes risk assessments C. Performing a final review of a customer's transaction history and records to address any D. Keeping records of the termination process, including the justification for the decision and any. Financial institutions should have a standardized process for terminating customer relationships, including conducting risk assessments and documenting the reasons for termination. A final review of the customer's transaction history helps address any outstanding concerns or unre
Question
Options
- AUtilizing a flexible communication style that adapts to different customer situations during the
- BImplementing a standardized procedure for customer termination that includes risk assessments
- CPerforming a final review of a customer's transaction history and records to address any
- DKeeping records of the termination process, including the justification for the decision and any
- ENotifying the customer of the termination decision only after completing the termination process to
Explanation
Financial institutions should have a standardized process for terminating customer relationships, including conducting risk assessments and documenting the reasons for termination. A final review of the customer's transaction history helps address any outstanding concerns or unresolved issues. Keeping thorough records of the termination process ensures compliance and provides documentation in case of any future inquiries or disputes.
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