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Banking CRCM Exam
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 35 )

Updated On: 11-Jan-2026
Page 35 of 276
PDF with 463 Questions

Unless excluded by a board resolution or the bylaws, the following officers will be considered to be executive officers EXCEPT:

  1. Chairman of the board
  2. President
  3. Each vice-president and above (for example, senior vice-president, executive vice- president, and so on)
  4. Brokerage house's vice president

Answer(s): D



Regulation O both restricts lending to insiders and requires that certain loans to insiders be disclosed. Each banking agency has adopted the provisions of Regulation O for administrative enforcement purposes. These were not found to be useful in preventing insider lending abuse. Regulation O governs which of the following areas major areas:

  1. Lending to insiders
  2. Disclosures of loans made to insiders
  3. Both of these
  4. None of these

Answer(s): C



Practice/s addressed in the guidance of OCC advisory on credit card practices-AL-2004- 10 is/are:

  1. "Up-to" marketing
  2. Promotional rate marketing
  3. Repricing of accounts and other changes in credit terms
  4. Lending to insiders

Answer(s): A,B,C



Record keeping requirements-12 CFR 215.8 elaborates that:

  1. Each bank must establish a recordkeeping system to keep records necessary for compliance with Regulation O
  2. Banks may use any alternative recordkeeping method for insiders of affiliates if the bank's regulatory agency determines the bank's method is at least as effective as that required by Regulation O
  3. All recordkeeping systems must
    Include either an annual survey of insiders to identify related interests, or a requirement as part of each extension of credit that the borrower indicates whether he or she is an insider.
    Provide for the maintenance of records of all credit to insiders, including the amounts and terms
  4. All of these

Answer(s): D



Which of the following is NOT a requirement of the Interagency Statement on Retail Sales of Nondeposit Investments?

  1. That employees selling nondeposit investments receive special training on the products they sell
  2. That all bank employees receive special training on the nondeposit investment products sold by the bank
  3. That employees selling nondeposit investments ensure that the product is suitable to the customer purchasing it
  4. That the history of employees selling nondeposit investments be checked before their employment

Answer(s): B



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