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Banking CRCM Exam
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 36 )

Updated On: 11-Jan-2026
Page 36 of 276
PDF with 463 Questions

Of the following practices, which one is NOT accepted in insurance and annuity sales?

  1. Reviewing insurance company ratings
  2. Monitoring customer complaints against insurance companies
  3. Verifying that personnel are properly licensed
  4. Churning accounts

Answer(s): D



Of the following actions, which one is NOT recommended by the OCC's advisory letter as a necessary tool of management oversight of insurance and annuity sales?

  1. Hiring competent personnel
  2. Establishing a separate insurance agency
  3. Auditing systems and controls
  4. Requiring a member of management to actively oversee this function

Answer(s): B



A bank may include all of the following in the narrative portion of its financial disclosure except for one. Which of these pieces of information CANNOT be disclosed?

  1. Information relating to mergers and acquisitions
  2. Information related to a regulatory enforcement action that currently applies to the bank
  3. An excerpt from the latest regulatory examination prepared by the bank's regulatory agency
  4. The bank's future plans for product development

Answer(s): C



Which of the following actions is acceptable under the financial reporting regulations?

  1. Attaching a narrative explanation by management of the reasons for a cease and desist order as a part of the annual disclosure
  2. Attaching a copy of the bank's last safety and soundness examination to the annual disclosure
  3. Including a statement that indicates that the bank's regulatory agency has reviewed the financial information
  4. Using an unaudited financial statement for the past two years as an annual disclosure statement

Answer(s): A



If a bank receives a request for financial disclosure, how may the bank fulfill this request?

  1. Provide copies of the call reports covering the current and previous year
  2. Provide a copy of its statement of condition covering the year immediately preceding the request
  3. Provide a copy of its most recent, unaudited financial statement
  4. Provide copies of its Uniform Bank Performance Reports for three consecutive years

Answer(s): A



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