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Banking CRCM Exam
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 19 )

Updated On: 12-Jan-2026
Page 19 of 276
PDF with 463 Questions

If the institution offers both full and reduced documentation loans and there is a pricing premium attached to the reduced documentation loan, the consumer should:

  1. Be alerted to this fact
  2. Not be alerted to this fact
  3. Provide consumers with a clear statement of the options available
  4. Not lead consumers with payment option ARMs to choose a non-amortizing or negatively amortizing payment

Answer(s): A



When developing a training plan for commercial lenders, which of the following regulations is least important to include?

  1. Equal Credit Opportunity, FRS Regulation B
  2. Home Mortgage Disclosure, FRS Regulation C
  3. Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks, FRS Regulation O
  4. Truth in Lending Act, FRS Regulation Z

Answer(s): D



During a recent compliance examination, regulators cited the bank for violations of various marketing regulations. How should the compliance professional FIRST respond?

  1. Contact the bank's marketing manager to discuss the finding
  2. Develop a policy requiring that all marketing materials be reviewed and approved by compliance before being published
  3. Set up a training class for the marketing department
  4. Review the marketing materials and applicable regulations to verify the finding.

Answer(s): D



During a recent compliance examination, regulatory examiners found that the bank was not conducting flood hazard area determinations before closing on construction loans. The compliance professional has reviewed the files and agreed with the examiners' finding. What should be done FIRST?

  1. Review the bank's flood policies and procedures to determine where the compliance failure occurred
  2. Conduct a risk assessment of the flood determination requirement on construction loans
  3. Prepare an analysis for bank management explaining the requirement
  4. Review all construction loan files to determine the extent of the problem

Answer(s): A



The federal banking agencies have proposed an amendment to Regulation Z that would require a new early disclosure statement for loans secured by the borrower's principal dwelling. After reading the proposed change, what should the compliance professional do FIRST?

  1. Establish a task force to study the proposed rule.
  2. Contact the bank's platform software vendor to determine whether it will be ready for the change NOTES
  3. Prepare a summary document that outlines the effects the proposed rule would have on the bank's operations
  4. Train bank staff on the new rule

Answer(s): C



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