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Banking CRCM Exam
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 13 )

Updated On: 12-Jan-2026
Page 13 of 276
PDF with 463 Questions

A bank is considering canceling its agreement with a broker to which it currently leases space in its lobby. The new plan would include an agreement with a different broker, but bank employees would complete product sales. What should the compliance manager do FIRST?

  1. Establish a licensing program for bank employees
  2. Establish a training plan for employees who will be selling the nondeposit investment products
  3. Obtain copies of SEC and NASD rules regarding nondeposit investment products
  4. Determine the additional compliance risk for the bank as a result of this change

Answer(s): D



Under the Interagency Statement on Retail Sales of Nondeposit Investment Products, what may a bank teller do?

  1. Discuss the past performance of a bank-related mutual fund
  2. Transfer mutual fund shares from an investment savings account to an IRA account
  3. Take the business card of a customer who has asked to purchase a bank-related mutual fund and give it to a licensed representative
  4. Assist a customer in determining eligibility to purchase a bank-related mutual fund

Answer(s): C



Under the Interagency Statement on Retail Sales of Nondeposit Investment Products what disclosure must the bank's investment sales representative make to the customer?

  1. The bank's regulatory agency
  2. The sales commission resulting from the investment purchase
  3. That the investment product is not guaranteed by the bank
  4. The arbitration procedure for resolving disputes over investment advice

Answer(s): C



Which of the following bank products is NOT subject to the disclosure provisions of the Interagency Statement on Retail Sales of Nondeposit Investment Products?

  1. Fixed-rate annuities
  2. Variable-rate annuities
  3. Variable-rate savings accounts
  4. Mutual funds

Answer(s): C



State National Bank has a Web site on which it advertises all of its products. One page of the Web site is devoted to the products of its affiliate, State National Investment Products, InC. The affiliate sells uninsured mutual funds and various other investments not insured by the FDIC. What are State National's responsibilities for this advertising?

  1. None. The affiliate is responsible.
  2. None. Because it is a Web site, the advertising rules do not apply.
  3. The bank must make sure the FDIC logo is properly placed.
  4. The bank must make sure that the noninsured disclosures are on this page and that the FDIC logo does not appear.

Answer(s): D



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