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Banking CRCM Exam
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 32 )

Updated On: 11-Jan-2026
Page 32 of 276
PDF with 463 Questions

Government credit

  1. It is credit extended to governments or government agencies, instrumentalities, or subdivisions
  2. It has no finance charge
  3. It has Records retention requirements
  4. Only the general rule against discrimination applies to government credit

Answer(s): A,D



Securities credit covers credit subject to Section 7 of the Securities Exchange Act of 1934 or credit by a broker or dealer subject to regulation under the act. The following requirements of Regulation B do not apply EXCEPT:

  1. Restrictions regarding information about a spouse or former spouse, marital status, or sex of the applicant
  2. It is not payable by agreement in more than four installments
  3. Provisions relating to furnishing credit information
  4. Records retention requirements

Answer(s): B



The Equal Credit Opportunity Act (ECOA) was enacted in 1974 to prevent discrimination in credit transactions. In 1975 the act was amended. Which of the following prohibited base/s are now included in it?

  1. National origin
  2. Exercise of rights under the Consumer Credit Protection Act
  3. Receipt of public assistance income
  4. All of these

Answer(s): D



Banks must establish and maintain effective risk management and control processes over its DCCs and DSAs, including:

  1. Appropriate recognition and financial reporting of income, expenses, assets, and liabilities
  2. Appropriate treatment of losses associated with these products
  3. Assessment of the adequacy of its internal controls and risk mitigation activities
  4. Before entering into a contract, the bank must obtain the customer's written affirmative election to enter into the contract and written acknowledgement of the receipt of the disclosures

Answer(s): A,B,C



Under content of disclosures long term disclosures may include the following, as applicable EXCLUDING:

  1. Notification that the product is optional
  2. Explanation of debt-suspension agreement
  3. Lump-sum payment of fee with no refund
  4. Refund of fee paid in lump sum

Answer(s): D



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