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Banking CRCM Exam Questions
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) (Page 53 )

Updated On: 16-Mar-2026
Page 53 of 276
PDF with 463 Questions

A consumer reporting agency may furnish a consumer report

  1. If not authorized in writing by the consumer
  2. In response to a court order having jurisdiction or a subpoena issued by a federal grand jury or review or collection of an account of the consumer
  3. In connection with a credit or insurance transaction
  4. For employment purposes
    Before procuring a consumer report, an employer
    Must disclose to the individual in writing that a consumer report may be obtained Must obtain written authorization from the individual before procuring the report

Answer(s): B,C,D



A consumer reporting agency may furnish a consumer report

  1. If not authorized in writing by the consumer
  2. In response to a court order having jurisdiction or a subpoena issued by a federal grand jury or review or collection of an account of the consumer
  3. In connection with a credit or insurance transaction
  4. For employment purposes
    Before procuring a consumer report, an employer
    Must disclose to the individual in writing that a consumer report may be obtained Must obtain written authorization from the individual before procuring the report

Answer(s): B,C,D



Legislation was recently enacted to reform consumer real estate protection laws, and the bank will now have to change the way it documents, discloses, and advertises real estate loans, an integral product line at your bank. What should the compliance professional do FIRST to implement the new law within the bank?

  1. Read the law and write a new real estate compliance policy
  2. Form a task force of the business unit managers whose departments will be affected by the law to collectively form an action plan
  3. Talk to the bank president about the need for more resources in compliance
  4. Sign up all bank personnel affected by the changes for a seminar on the new law

Answer(s): B



Legislation was recently enacted to reform consumer real estate protection laws, and the bank will now have to change the way it documents, discloses, and advertises real estate loans, an integral product line at your bank. What should the compliance professional do FIRST to implement the new law within the bank?

  1. Read the law and write a new real estate compliance policy
  2. Form a task force of the business unit managers whose departments will be affected by the law to collectively form an action plan
  3. Talk to the bank president about the need for more resources in compliance
  4. Sign up all bank personnel affected by the changes for a seminar on the new law

Answer(s): B



Legislation was recently enacted to reform consumer real estate protection laws, and the bank will now have to change the way it documents, discloses, and advertises real estate loans, an integral product line at your bank. What should the compliance professional do FIRST to implement the new law within the bank?

  1. Read the law and write a new real estate compliance policy
  2. Form a task force of the business unit managers whose departments will be affected by the law to collectively form an action plan
  3. Talk to the bank president about the need for more resources in compliance
  4. Sign up all bank personnel affected by the changes for a seminar on the new law

Answer(s): B



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