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ABA CRCM Practice Test - Questions Answers, Page 36

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Question 351

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A bank received a signed letter criticizing its performance in meeting the credit needs of the community, but not adversely reflecting upon any individual bank employee's reputation. What must the bank do with this letter?

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Question 352

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What is the definition of a ''small'' business under CRA rules?

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Question 353

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Which of the following must a ''large'' bank maintain as part of its CRA program?

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Question 354

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A bank has been criticized by an examiner for less than satisfactory CRA performance. The bank must show improvement in its commitment to CR A. For the examiner, what would be LEAST effective in demonstrating the change?

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Question 355

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Which of the following is the best method for a large bank to use in monitoring its CRA performance?

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Question 356

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In evaluating a bank's CRA performance, to what do bank examiners give the greatest consideration?

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Question 357

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What obligation does a bank have to disclose a covered CRA agreement 40 months after it terminates?

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Question 358

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Which of the following institutions is NOT subject to the coverage of HMDA?

* Bank A, with assets of $55 million and located in a large urban city, makes home improvement loans and some home purchase loans to existing customers, but no mortgage loans.

* Bank B, with assets of $9 million and located in a rural area, has several branches, also in rural areas, including one that makes home improvement and home purchase loans.

* Mortgage Company C, with assets of $75 million and a home office in a large East Coast city, makes exclusively home purchase loans.

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Question 359

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Several types of loan-related data appear in the following list. Which type of data is NOT required to be reported under HMDA?

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Question 360

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Of the following types of data, which one is NOT required to be reported for each application for an originated loan subject to Regulation C?

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