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Banking CRCM Exam
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 16 )

Updated On: 12-Jan-2026
Page 16 of 276
PDF with 463 Questions

On which of the following loans must a bank maintain records under the Bank Secrecy Act?

  1. All loans exceeding $5,000 and secured by real property
  2. All loans exceeding $5,000, but not secured by real property
  3. All loans exceeding $10,000 and secured by real property
  4. All loans exceeding $10,000, but not secured by real property

Answer(s): D



Which of the following transactions requires completion of FinCEN Form 104, a CTR?

  1. Deposit of checks totaling $12,000 to a checking account
  2. Cash purchase of a cashier's check for $7,800
  3. Cash withdrawal of $3,000 from a checking account
  4. Cashing of a $14,000 check for a customer

Answer(s): D



Compliance issues related to payday lending are all of the following EXCEPT:

  1. Payday lending may adversely affect a bank's CRA rating. Any illegal or questionable practices will negatively affect a bank's CRA performance. A payday lending program may be inconsistent with helping to meet the community's credit needs
  2. The bank (or its third-party partner) must properly disclose all finance charges and fees to payday lending customers. Advertisements of the program are also subject to Truth-in-Lending requirements
  3. Adverse action disclosures must be provided to applicants of payday loans that are denied if a consumer report (including check tracking services) was used in the credit decision
  4. The bank may be subject to the FOC's unfair or deceptive practices rules.

Answer(s): D



A bank is conducting due diligence for a foreign correspondent bank account. Which of the following is NOT required information?

  1. The identities of the correspondent bank's true ownership
  2. Information on the government licenses of the correspondent bank
  3. Copies of the tax return of the correspondent bank
  4. Information on the products and services the correspondent bank offers

Answer(s): C



Which of the following is an accurate statement according to the requirements of the customer identification program regulations?

  1. A bank must always require documentary verification of a customer's identification
  2. A bank may waive any part of the CIP requirements if senior management approves the waiver and there is a good cause
  3. A physical address or a post office box is acceptable for any new customer
  4. The bank's CIP program must enable it to form a reasonable belief about the identity of the person

Answer(s): D



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