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CRCM: Certified Regulatory Compliance Manager

Vendor:

ABA

Exam Questions:
463
 Learners
  2.370
Last Updated
April - 2025
Language
English
12 Quizzes
PDF | VPLUS
This study guide should help you understand what to expect on the exam and includes a summary of the topics the exam might cover and links to additional resources. The information and materials in this document should help you focus your studies as you prepare for the exam.

Related questions

Which of the following actions is acceptable under the financial reporting regulations?

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Under the ADA, what can an employer do?

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Examples of unfair practices mentioned in guidelines against Predatory and Abusive Lending includes loan flipping and loan equity stripping. It is said that:

Loan flipping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden
Loan flipping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden
Equity stripping is the practice of making loans secured by the consumer's home but with high, up-front fees that are financed and secured by the home
Equity stripping is the practice of making loans secured by the consumer's home but with high, up-front fees that are financed and secured by the home
Loan flipping is the practice of making loans secured by the consumer's home but with high, up-front fees that are financed and secured by the home
Loan flipping is the practice of making loans secured by the consumer's home but with high, up-front fees that are financed and secured by the home
Equity stripping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden
Equity stripping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden
Suggested answer: A, B
asked 16/09/2024
M S
38 questions

Federal regulations define special-purpose credit-12 CFR 202.8 to include:

Any credit assistance program authorized by federal or state law for the benefit of an economically disadvantaged class of persons
Any credit assistance program authorized by federal or state law for the benefit of an economically disadvantaged class of persons
Any credit assistance program offered by a not-for-profit organization for the benefit of its members or for the benefit of an economically disadvantaged class of person
Any credit assistance program offered by a not-for-profit organization for the benefit of its members or for the benefit of an economically disadvantaged class of person
A special-purpose credit program must not discriminate on a prohibited basis; however, it can require its participants to share a particular characteristic (such as race or sex) provided the requirement was not established to evade the requirements of the ECOA. If the participants must share a common characteristic, the bank may collect information on that characteristic to determine eligibility
A special-purpose credit program must not discriminate on a prohibited basis; however, it can require its participants to share a particular characteristic (such as race or sex) provided the requirement was not established to evade the requirements of the ECOA. If the participants must share a common characteristic, the bank may collect information on that characteristic to determine eligibility
If the program includes financial need as a criterion, the creditor can never request and consider information regarding the applicant
If the program includes financial need as a criterion, the creditor can never request and consider information regarding the applicant
Suggested answer: A, B, C
asked 16/09/2024
Martin Ojeda Knapp
30 questions

Under Consumer Leasing Act Enforcement-15 USC 1667d section FIRREA penalties include:

Penalties up to $8,500 per day for violations of laws and regulations
Penalties up to $8,500 per day for violations of laws and regulations
Penalties up to $37,500 per day if violations or unsafe or unsound practices are engaged in recklessly or are part of a pattern of misconduct that causes more than a minimal loss to the bank or any pecuniary gain to the parties involved
Penalties up to $37,500 per day if violations or unsafe or unsound practices are engaged in recklessly or are part of a pattern of misconduct that causes more than a minimal loss to the bank or any pecuniary gain to the parties involved
Penalties up to $1,375,000 per day against persons who knowingly commit a violation and knowingly or recklessly cause a substantial loss to the bank or a substantial benefit to the party
Penalties up to $1,375,000 per day against persons who knowingly commit a violation and knowingly or recklessly cause a substantial loss to the bank or a substantial benefit to the party
Penalties up to $9,500 per day for violations of laws and regulations
Penalties up to $9,500 per day for violations of laws and regulations
Suggested answer: A, B
asked 16/09/2024
Rajeev Parameswaran
44 questions

Credit scoring systems:

Evaluate an applicant's creditworthiness mechanically, based on key attributes of the applicant and aspects of the transaction, and determine, alone or in conjunction with an evaluation of additional information about the applicant, whether an applicant is deemed creditworthy
Evaluate an applicant's creditworthiness mechanically, based on key attributes of the applicant and aspects of the transaction, and determine, alone or in conjunction with an evaluation of additional information about the applicant, whether an applicant is deemed creditworthy
Are evaluated by regulatory agencies to determine whether they are empirically derived and statistically sound and to examine: The bank's policies on the use of the credit scoring system Training of bank employees on the use of the system The number of high-side and low-side overrides of the system
Are evaluated by regulatory agencies to determine whether they are empirically derived and statistically sound and to examine: The bank's policies on the use of the credit scoring system Training of bank employees on the use of the system The number of high-side and low-side overrides of the system
Both of these
Both of these
None of these
None of these
Suggested answer: C
asked 16/09/2024
Asif Khan
50 questions

This is a loan term or an arrangement that modifies a loan term under which a bank agrees to cancel all or part of a customer's loan obligation on the occurrence of a specified event. It may be included as a part of the loan documents, or it may be a separate agreement. What is it?

Debt suspension agreement (DSA)
Debt suspension agreement (DSA)
Anti-dying
Anti-dying
Debt cancellation contract (DCC)
Debt cancellation contract (DCC)
ALLL
ALLL
Suggested answer: C
asked 16/09/2024
Ruud God
43 questions

Country A (a foreign country that is boycotting Country B, another foreign country) has ordered goods from ABC, a U.S. corporation. Country A has opened a letter of credit with Overseas, Inc. , a foreign bank. The letter of credit specifies that ABC must certify that it does not do business with Country B. Overseas, InC. , sends a telegram to First National Bank, a U.S. bank, stating the major terms and conditions of the letter of credit and asking First National Bank to confirm the letter of credit. The telegram does not state the boycott provisions. Overseas mails the letter of credit to First National Bank and asks First National Bank to confirm it. What may First National Bank do?

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_____________requires that a statement of purpose be obtained from borrowers whose loans are to be greater than $100,000 and that will be secured by margin stock. Loans made for the purpose of purchasing margin stock are subject to additional limitations

Regulation U
Regulation U
Regulation V
Regulation V
Regulation Z
Regulation Z
Regulation X
Regulation X
Suggested answer: A
asked 16/09/2024
JEAN-MARIE HERMANT
60 questions

Martha Whitmire, the BSA Compliance Officer for First National Bank, is responsible for monitoring the bank's daily currency activity and wire transfers, for compliance with information retention and reporting requirements. Ms. Whitmire notices during her review on March 10 that, during the previous two weeks, a transaction occurred on the same account several times during the week. The activity appeared at one branch office as cash deposits in dollar amounts under the reporting thresholds. Ms. Whitmire discusses this activity with the branch manager and determines that this same deposit activity occurred several times during the previous six weeks. She then conducts a more extensive examination of the account's activity for several months and discovers that cash deposits were made at one branch office and purchases of bank cashiers checks were made by withdrawals from the same account at a different branch office. All withdrawals and purchases of cashier's checks were for the identical amount as the cash deposits.Which statement best describes Ms. Whitmire's responsibility?

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