Free Practice American Bankers Association CRCM Exam Questions 2025

Stay ahead with 100% Free Certified Regulatory Compliance Manager CRCM Dumps Practice Questions

Page: 1 / 93

Total 465 Questions | Updated On: Apr 08, 2025

Add To Cart

Question 1

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

A : Loan flipping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden

B : Equity stripping is the practice of making loans secured by the consumer’s home but with high, upfront fees that are financed and secured by the home

C : Loan flipping is the practice of making loans secured by the consumer’s home but with high, upfront fees that are financed and secured by the home

D : Equity stripping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden

Answer: A,B

Question 2

How long after discovery does a bank have to report any lost or missing securities when criminal activity is suspected?

A : 90 calendar days

B : 1 business day

C : Never. Law enforcement must report

D : 10 business days

Answer: B

Question 3

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?

A : A system in which the bank annually surveys all executive officers of First National and its affiliatesto determine the insiders’ related interests

B : A system in which the bank asks all borrowers as loans are made whether the borrower is arelated interest of an insider

C : A system that surveys insiders of First National annually and requires each insider to disclose his orher related interests

D : A system that requires an annual survey of affiliate insiders

Answer: C

Question 4

Bob Richardson has had three loan applicants this morning:

• Heather Smith, age 17, who needs a car loan for $9,500 for 3 years

• John Bako, age 42, who would like a stock loan for $15,000 for 1 year

• Maynard Williams, age 70, recently retired, who needs a $50,000 home improvement loan for 12

years Bob’s bank uses a judgmental credit evaluation system. For which of these applications is Bob

able to consider the age of the applicant as a factor in the decision making process?

A : All of them

B : None of them

C : Only Mr. Williams

D : Mr. Williams and Ms. Smith

Answer: D

Question 5

By presentation or transmission of an item a Reserve Bank warrants to a subsequent collecting bank

and paying bank that:

A : The Reserve Bank has good title to the item

B : The item has not been altered

C : The item bears all endorsements applied by parties that have previously handled the item in paperor electronic form

D : All of these

Answer: D

Page: 1 / 93

Total 465 Questions | Updated On: Apr 08, 2025

Add To Cart