QUESTION: 13

In the mid-1980s a movement began among the federal supervisory agencies to produce a uniform ARM regulation. In 1988, the Federal Reserve Board added the uniform ARM disclosure requirements to a regulation. Therefore, most of the original OCC ARM consumer protection requirements are now found in this new regulation. Adjustable rate mortgage loans made by national banks may be subject to the OCC's ARM regulation or the requirements of this new regulation, or both. This new regulation is:

Regulation Z
Truth in Lending
CFR 34.21, 34.22 and 34.23
FIRREA penalty

Answer(s): A,B

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QUESTION: 13

In the mid-1980s a movement began among the federal supervisory agencies to produce a uniform ARM regulation. In 1988, the Federal Reserve Board added the uniform ARM disclosure requirements to a regulation. Therefore, most of the original OCC ARM consumer protection requirements are now found in this new regulation. Adjustable rate mortgage loans made by national banks may be subject to the OCC's ARM regulation or the requirements of this new regulation, or both. This new regulation is:

Regulation Z
Truth in Lending
CFR 34.21, 34.22 and 34.23
FIRREA penalty

Answer(s): A,B

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QUESTION: 14

Which one of the following is out of the FIRREA penalties included in the enforcement section of Adjusted Mortgage Regulation (12 CFR 34)?

Penalties up to $7,500 per day for violations of laws and regulations
Penalties up to $47,500 per day if violations or unsafe or unsound practices are engaged in recklessly or are part of a pattern of misconduct that causes more than a minimal loss to the bank or any pecuniary gain to the parties involved
Penalties up to $1,375,000 per day against persons who knowingly commit a violation and knowingly or recklessly cause a substantial loss to the bank or a substantial benefit to the party
Penalties up to $6,500 per day for violations of laws and regulations

Answer(s): A,C

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QUESTION: 14

Which one of the following is out of the FIRREA penalties included in the enforcement section of Adjusted Mortgage Regulation (12 CFR 34)?

Penalties up to $7,500 per day for violations of laws and regulations
Penalties up to $47,500 per day if violations or unsafe or unsound practices are engaged in recklessly or are part of a pattern of misconduct that causes more than a minimal loss to the bank or any pecuniary gain to the parties involved
Penalties up to $1,375,000 per day against persons who knowingly commit a violation and knowingly or recklessly cause a substantial loss to the bank or a substantial benefit to the party
Penalties up to $6,500 per day for violations of laws and regulations

Answer(s): A,C

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Free CRCM Exam Braindumps (page: 11)

QUESTION: 13

QUESTION: 13

QUESTION: 14

QUESTION: 14

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