ExamGecko
Login
Home / ABA / CRCM / List of questions
Ask Question

ABA CRCM Practice Test - Questions Answers, Page 14

Add to Whishlist

List of questions

Question 131

Report Export Collapse

First National Bank would like to adopt a recordkeeping system that complies with the requirements of Regulation O. Which of the following best describes the recordkeeping system required by Regulation O?

Become a Premium Member for full access
  Unlock Premium Member

Question 132

Report Export Collapse

Which of the following does an extension of credit NOT include?

Become a Premium Member for full access
  Unlock Premium Member

Question 133

Report Export Collapse

Which of the following transactions is subject to the provisions of Regulation O?

Become a Premium Member for full access
  Unlock Premium Member

Question 134

Report Export Collapse

In a review of a bank's compliance with the Regulation O overdraft provisions, what should the compliance officer do?

Become a Premium Member for full access
  Unlock Premium Member

Question 135

Report Export Collapse

Safe National Bank has a variety of consumer lending products. Among them are debt cancellation contracts that allow for the cancellation of a consumer's debt if certain events happen. The bank solicits sales for these contracts when the consumer makes an in-person loan application. What does Safe National have to do at the time of the application and solicitation?

Become a Premium Member for full access
  Unlock Premium Member

Question 136

Report Export Collapse

ACME National Bank has a Web site that lists the bank's products and services. On its consumer loan page it lists debt cancellation contracts as an available product. What other disclosure must the bank place on this Web page?

Become a Premium Member for full access
  Unlock Premium Member

Question 137

Report Export Collapse

ACME National bank uses telephone solicitations to sell its debt cancellation contracts. The banker explains to the borrower the nature of the contract, gives an oral short form disclosure, receives the customer's affirmative election orally, and sends the written long form disclosures and written affirmative election within three business days. Is the bank in compliance with the telephone solicitation rules as they apply to affirmative elections?

Become a Premium Member for full access
  Unlock Premium Member

Question 138

Report Export Collapse

Which of the following actions is NOT an adverse action?

Become a Premium Member for full access
  Unlock Premium Member

Question 139

Report Export Collapse

Which of the following statements regarding applications is correct?

Become a Premium Member for full access
  Unlock Premium Member

Question 140

Report Export Collapse

Which of the following is/are included in the persons covered under Fedwire transfer coverage?

Become a Premium Member for full access
  Unlock Premium Member
Total 463 questions
Go to page: of 47
Open VPLUS File
Convert VPLUS to PDF

Related questions

Which of the following actions is acceptable under the financial reporting regulations?
Under the ADA, what can an employer do?
Examples of unfair practices mentioned in guidelines against Predatory and Abusive Lending includes loan flipping and loan equity stripping. It is said that:
Federal regulations define special-purpose credit-12 CFR 202.8 to include:
Under Consumer Leasing Act Enforcement-15 USC 1667d section FIRREA penalties include:
Credit scoring systems:
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?
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?
_____________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
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?