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ABA CRCM Practice Test - Questions Answers, Page 38

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Question 371

(0)

For HMDA purposes, the term ''dwelling'' does NOT include which of the following?

Question 372

(0)

Which of the following representations on the HMDA loan application register is a violation of Regulation C?

Question 373

(0)

An individual borrowed $1,000 to remodel her mobile home. She lives in the mobile home that is not anchored to the ground. The loan will be secured by the mobile home, but the borrower does not own

Question 374

(0)

Under HMDA, what is the threshold for reporting the interest rate spread for first lien mortgage loans?

Question 375

(0)

In a review of a bank's home mortgage loan application register, which of the following must be included in Regulation C reporting?

Question 376

(0)

Williams National Bank has its home office in New York State; however, it has branches in Nebrask A . The federal banking agencies most recent host state loanto- deposit publication lists the loan-t

Question 377

(0)

Which of the following banks CANNOT select Montana as its home state for deposit production purposes?

Question 378

(0)

A banking agency is conducting a credit needs determination. Which of the following is NOT a criterion used in such a determination?

Question 379

(0)

ACME Bank would like its tellers to help sell insurance products to new and existing customers. The tellers would refer customers to personal bankers who have insurance licenses from the state. The

Question 380

(0)

ACME Bank has a separate page on its Web site where it describes insurance products, such as life insurance and health and disability insurance. The page invites consumers to call the bank officer i

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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 371

For HMDA purposes, the term ''dwelling'' does NOT include which of the following?

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Question 372

Which of the following representations on the HMDA loan application register is a violation of Regulation C?

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Question 373

An individual borrowed $1,000 to remodel her mobile home. She lives in the mobile home that is not anchored to the ground. The loan will be secured by the mobile home, but the borrower does not own the lot on which it is parked. For HMDA purposes, this loan is considered to be which of the following types of loans?

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Question 374

Under HMDA, what is the threshold for reporting the interest rate spread for first lien mortgage loans?

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Question 375

In a review of a bank's home mortgage loan application register, which of the following must be included in Regulation C reporting?

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Question 376

Williams National Bank has its home office in New York State; however, it has branches in Nebrask A . The federal banking agencies most recent host state loanto- deposit publication lists the loan-to-deposit ratio for Nebraska as 78 percent. For Williams Bank to pass the loan-to-deposit screen of the Reigle-Neal Act, what must its loan-to-deposit ratio be for Nebraska?

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Question 377

Which of the following banks CANNOT select Montana as its home state for deposit production purposes?

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Question 378

A banking agency is conducting a credit needs determination. Which of the following is NOT a criterion used in such a determination?

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Question 379

ACME Bank would like its tellers to help sell insurance products to new and existing customers. The tellers would refer customers to personal bankers who have insurance licenses from the state. The bank would like to reward tellers by giving them a small percentage of the commission for each policy sold where the sale resulted from a referral. Which of the following statements presents ACME's biggest concern in complying with the Consumer Protection in Sales of Insurance regulation?

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Question 380

ACME Bank has a separate page on its Web site where it describes insurance products, such as life insurance and health and disability insurance. The page invites consumers to call the bank officer in charge of selling these products.The Web site's lending page also describes consumer loans and uses the following phrase: ''Have peace of mind---credit life and disability insurance are available on all consumer loans to qualified borrowers.'' Neither the insurance page nor the lending page mentions insured deposits. What does ACME need to do to make sure its Web site is in compliance?

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Total 463 questions