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ABA CRCM Practice Test - Questions Answers, Page 37

Question list

List of questions

Question 361

(0)

The following statements make assertions about the collection and reporting of data on race, ethnicity, sex, and income. Which statement is false?

Question 362

(0)

On which of these loans does First National have to report the interest rate spread on its HMDA LAR?

Question 363

(0)

By what date must financial institutions submit their loan application registers to their federal supervisory agency?

Question 364

(0)

Which of the following loans would First National report on its loan application register?

Question 365

(0)

When must a bank make its mortgage loan disclosure statement available?

Question 366

(0)

What information must be on the loan application registers for home loans on property located within the bank's metropolitan area?

Question 367

(0)

How must most banks submit loan application registers to their federal supervisory agencies?

Question 368

(0)

Which of the following is required to be reported on ABC Bank's HMDA LAR?

Question 369

(0)

John and Elise Fernandez apply to ABC Bank for a loan to purchase a manufactured home. ABC Bank is a community bank with approximately $100 million in assets, and the home would be located outside o

Question 370

(0)

Which of the following loans or applications is EXCLUDED from HMDA reporting?

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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?

Question 361

The following statements make assertions about the collection and reporting of data on race, ethnicity, sex, and income. Which statement is false?

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Question 362

On which of these loans does First National have to report the interest rate spread on its HMDA LAR?

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Question 363

By what date must financial institutions submit their loan application registers to their federal supervisory agency?

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Question 364

Which of the following loans would First National report on its loan application register?

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Question 365

When must a bank make its mortgage loan disclosure statement available?

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Question 366

What information must be on the loan application registers for home loans on property located within the bank's metropolitan area?

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Question 367

How must most banks submit loan application registers to their federal supervisory agencies?

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Question 368

Which of the following is required to be reported on ABC Bank's HMDA LAR?

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Question 369

John and Elise Fernandez apply to ABC Bank for a loan to purchase a manufactured home. ABC Bank is a community bank with approximately $100 million in assets, and the home would be located outside of the bank's metropolitan are a. Mr. and Mrs. Fernandez complete an in-person application for a mobile home that is denied by the bank due to insufficient income. Which piece of information on the Fernandez application is ABC Bank NOT required to report on its HMDA LAR?

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