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Banking CRCM Exam
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 27 )

Updated On: 11-Jan-2026
Page 27 of 276
PDF with 463 Questions

A bank does not know all of the specific information to be disclosed on the lease at the time of the consummation. What may the bank do after attempting to obtain the information?

  1. Omit the unknown disclosures
  2. Estimate the amounts and note that the information is estimated
  3. Delay consummation of the transaction until the information is ascertained
  4. Estimate the information based on averages of all other leasing transactions the bank has made within the last six months

Answer(s): B



Which of the following bank policies does NOT comply with the Interagency Policy Statement on the Retail Sales of Nondeposit Investments?

  1. Supervisors and sales personnel will receive compensation based on the volume of sales each department achieves as well as the effectiveness of the department's ability to find suitable investments for customers.
  2. All bank employees engaged in the sale of nondeposit investments will provide the bank's required disclosures to all customers before the purchase of a nondeposit investment product.
  3. No teller will discuss nondeposit investment products with a bank customer.
  4. Tellers and new accounts personnel will receive a $25 fee for all customers referred to the nondeposit investment department on the customer's purchase of an investment product.

Answer(s): D



Requirements--12 CFR 202.2, 202.4, 202.5, 202.6, and 202.13 say that a creditor may not request information about an application's race, color, religion, national origin, or gender except as specifically permitted by _or another statute such as the Home Mortgage Disclosure Act.

  1. Regulation B
  2. Regulation U
  3. Regulation Z
  4. Regulation A

Answer(s): A



An oral or written request for credit made in accordance with the creditor's procedures for the type of credit requested. Information entered into and retained by a computer system qualifies as a written application. It is called:

  1. Credit Application
  2. Credit completed application
  3. Initial credit approach
  4. None of these

Answer(s): A



Purpose credit is credit for all of the following EXCEPT:

  1. Immediate purpose of purchasing or carrying margin stock
  2. Incidental purpose of purchasing or carrying margin stock
  3. Ultimate purpose of purchasing or carrying margin stock
  4. Accidental purpose of purchasing or carrying margin stock

Answer(s): D



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