Cisco
CompTIA
ISC
EC-Council
EXIN
Fortinet
ITIL
Juniper
Microsoft
VMware
Avaya
SAP
Google
NVIDIA
Salesforce
Amazon
Palo Alto Networks
ISC2
Splunk
ServiceNow
All Vendors
  2. Home
  3. Exams
  4. Banking
  5. CRCM

Banking CRCM Exam
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 42 )

Updated On: 11-Jan-2026
Page 42 of 276
PDF with 463 Questions

First National Bank has foreclosed on several loans. One of the loans is not subject to the requirement to submit an information return on the foreclosed property. Which loan is most likely NOT covered by the regulations?

  1. A loan to Brown & Associates, a local law firm, to purchase furniture, secured by the furniture
  2. A loan to Mrs. Lynch to purchase stereo equipment for use in her office waiting room
  3. A loan to Dr. Stevens to purchase kitchen appliances
  4. A loan to Mr. and Mrs. Sanders to purchase a computer for their antique shop

Answer(s): C



First National Bankshares, Inc., a bank holding company, held substantially all of the voting stock of an equipment manufacturing corporation as collateral for a loan to the owner. On May 15 the borrower defaulted and on September 1, after proper notice was given, the bank foreclosed its security interest on the stock and exercised its rights to vote the stock at appropriate times. On December 31 the bank transferred the stock to a subsidiary corporation, FNB, Inc., to market the stock for sale more effectively. What is the longest time period that FNB, Inc., can possibly hold the stock?

  1. Up to two years from September 1
  2. Up to five years from September 1
  3. Up to two years from December 31
  4. Up to five years from December 31

Answer(s): B



On foreclosure, which of the following loans is subject to the reporting requirements for foreclosed and abandoned property?

  1. A loan made to purchase a family car, secured by the car
  2. An unsecured loan made to purchase a computer used in the borrower's business
  3. A loan made to purchase a residence, secured by the residence
  4. A loan made to purchase a home computer, secured by the computer

Answer(s): C



For a U.S. bank with domestic and foreign locations, which transaction does NOT require an information return to report the amount of interest paid?

  1. A loan made to James Roberts, a U.S. resident, payable at the bank's New York office, to purchase securities secured by the borrower's home in Mexico
  2. A loan made to Robert and Louise LeBlanc, who are resident aliens, payable at the bank's New York office, secured by a piece of real property located in Canada
  3. A loan made to Smith and Withers, a partnership formed for the practice of law, located in the United States, payable at the bank's New York office, guaranteed by Mr.
    Smith and Mr. Withers, and secured by the law firm's office building
  4. A loan made by Mrs. West, a U.S. citizen, to purchase a mobile home and the lot on which it will be placed; both the mobile home and lot are located in the United States

Answer(s): C



First National Bank does not have the TINs of several borrowers with mortgage loans. What should the bank do to fulfill the mortgage interest reporting regulations?

  1. Mail a one-time request for TINs by certified mail to each borrower who has failed to provide one
  2. Post a notice in its mortgage lending lobby that TINs are required for mortgage loans
  3. Mail a separate request for TINs annually to borrowers who have failed to provide one
  4. Include a request for TINs in the annual mailing of the payment coupon book

Answer(s): D



Viewing page 42 of 276
Viewing questions 206 - 210 out of 463 questions



Post your Comments and Discuss Banking CRCM exam prep with other Community members:

CRCM Exam Discussions & Posts