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Free CRCM Exam Braindumps (page: 102)

Page 101 of 344
PDF with 463 Questions

In a review of a bank's compliance with the Regulation O overdraft provisions, what should the compliance officer do?

  1. Identify the related interests of all directors, executive officers, and principal shareholders
  2. Examine the bank's overdraft reports for a selected time period
  3. Examine the annual FFIEC-004 reports on indebtedness to correspondent banks
  4. Examine the bank's latest report of condition and income

Answer(s): B



Safe National Bank has a variety of consumer lending products. Among them are debt cancellation contracts that allow for the cancellation of a consumer's debt if certain events happen. The bank solicits sales for these contracts when the consumer makes an in-person loan application. What does Safe National have to do at the time of the application and solicitation?

  1. Nothing. Disclosures are required only when the contract is made.
  2. Give the customer the short-form disclosures orally.
  3. Give the customer the short-form disclosures in writing.
  4. Give the customer the long-form disclosures.

Answer(s): B



Safe National Bank has a variety of consumer lending products. Among them are debt cancellation contracts that allow for the cancellation of a consumer's debt if certain events happen. The bank solicits sales for these contracts when the consumer makes an in-person loan application. What does Safe National have to do at the time of the application and solicitation?

  1. Nothing. Disclosures are required only when the contract is made.
  2. Give the customer the short-form disclosures orally.
  3. Give the customer the short-form disclosures in writing.
  4. Give the customer the long-form disclosures.

Answer(s): B



Safe National Bank has a variety of consumer lending products. Among them are debt cancellation contracts that allow for the cancellation of a consumer's debt if certain events happen. The bank solicits sales for these contracts when the consumer makes an in-person loan application. What does Safe National have to do at the time of the application and solicitation?

  1. Nothing. Disclosures are required only when the contract is made.
  2. Give the customer the short-form disclosures orally.
  3. Give the customer the short-form disclosures in writing.
  4. Give the customer the long-form disclosures.

Answer(s): B






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