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Free CRCM Exam Braindumps (page: 103)

Page 103 of 344
PDF with 463 Questions

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?

  1. Yes, the bank has fulfilled all of its requirements.
  2. No, oral affirmative elections are not acceptable.
  3. No, the bank also must give the customer 30 days to cancel the contract.
  4. No, telephone solicitations are not allowed for debt cancellation contracts.

Answer(s): C



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?

  1. Yes, the bank has fulfilled all of its requirements.
  2. No, oral affirmative elections are not acceptable.
  3. No, the bank also must give the customer 30 days to cancel the contract.
  4. No, telephone solicitations are not allowed for debt cancellation contracts.

Answer(s): C



Which of the following actions is NOT an adverse action?

  1. Refusal to grant credit on substantially the same terms and conditions as requested by the applicant
  2. Termination of an account
  3. Refusal to grant credit on the grounds that the lender does not offer the type of credit requested
  4. Refusal to increase the amount of credit on an existing account after a request

Answer(s): C



Which of the following actions is NOT an adverse action?

  1. Refusal to grant credit on substantially the same terms and conditions as requested by the applicant
  2. Termination of an account
  3. Refusal to grant credit on the grounds that the lender does not offer the type of credit requested
  4. Refusal to increase the amount of credit on an existing account after a request

Answer(s): C



Page 103 of 344



Post your Comments and Discuss Banking CRCM exam with other Community members:

LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
I think question 204 has an incorrect solution. It should be D-Regulation E
UNITED STATES
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Igor commented on April 10, 2020
Guys, leave no stones unturned. Try to study every questions and anything other supplementary material you have. The exam is not easy. I just wrote mine and if it wss not for these questions I would have not have passed it.
BULGARIA
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Lori commented on July 20, 2017
I had a good result. Worth the money.
UNITED STATES
upvote

Chipps commented on July 20, 2017
Studying from this dump helped me understand the concept and what comes in the exam. But I only get about 80 to 85% of the questions not 100% as it is claimed. Well... still good enough to pass.
UNITED STATES
upvote