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Banking CRCM Exam
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 33 )

Updated On: 11-Jan-2026
Page 33 of 276
PDF with 463 Questions

This is a loan term or an arrangement that modifies a loan term under which a bank agrees to suspend all or part of a customer's loan obligation on the occurrence of a specified event. It May be a part of the loan itself or a separate agreement.Does not include a loan payment deferral arrangement where the borrower or the bank can unilaterally defer a payment.What is it?

  1. Debt suspension agreement (DSA)
  2. Anti-dying
  3. Debt cancellation contract (DCC)
  4. ALLL

Answer(s): A



Short-form disclosures are required in advertisements and promotional materials unless the advertisements and promotional materials are of:

  1. A general nature describing or listing the products or services offered by the bank
  2. A specific nature describing or listing the products or services offered by the bank
  3. A general nature describing or special services offered by the bank
  4. A general nature describing competitive advantage of the bank

Answer(s): A



This is a loan term or an arrangement that modifies a loan term under which a bank agrees to cancel all or part of a customer's loan obligation on the occurrence of a specified event. It may be included as a part of the loan documents, or it may be a separate agreement. What is it?

  1. Debt suspension agreement (DSA)
  2. Anti-dying
  3. Debt cancellation contract (DCC)
  4. ALLL

Answer(s): C



Definition of completed application--12 CFR 202.2(f) is:

  1. An application for which the bank has received all the information it regularly considers in evaluation, including credit reports, verifications, and so forth
  2. The creditor must be reasonably diligent in collecting information to complete the application (for example, ordering credit bureau reports)
  3. An inquiry becomes an application when the creditor evaluates information and decides to grant or decline the credit
  4. Requests for written preapprovals to be issued by the lender are considered applications

Answer(s): A,B



Debt Cancellation Contracts and Debt Suspension Agreements coverage includes:

  1. National banks that issue debt cancellation contracts and debt suspension agreements with borrowers in connection with loans for personal, family, or household purposes
  2. A national bank may not engage in any practice, including advertising, which would cause a reasonable person to be misled with respect to DSAs and DCCs
  3. A bank must provide the long-form disclosures in writing before the customer completes the purchase of a contract. If the solicitation occurs in person, the long-form disclosures must be provided at that time
  4. A bank must make the short-form disclosures orally at the time the bank first solicits the contract

Answer(s): A



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