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Free CRCM Exam Braindumps
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) Questions 129–131 (page: 79)

Updated On: 9-Feb-2026
Page 79 of 276
PDF with 463 Questions

Which of the following is true regarding extensions of credit to executive officers, directors, and principal shareholders?

  1. Must be approved in advance by the board of directors if the aggregate credit is more than the greater of either $25,000 or 5 percent of the bank's capital and surplus, not exceeding $500,000
  2. Must be approved in advance by the board of directors if the credit is greater than $50,000 or 5 percent of the bank's capital and surplus
  3. May not exceed $100,000 in the aggregate, regardless of approvals
  4. May not exceed $250,000 in the aggregate, regardless of approvals

Answer(s): A



What is the longest time after board approval that a bank can approve a line of credit for an executive officer?

  1. 12 months of such approval
  2. 9 months of such approval
  3. 14 months of such approval
  4. 6 months of such approval

Answer(s): C



What is the longest time after board approval that a bank can approve a line of credit for an executive officer?

  1. 12 months of such approval
  2. 9 months of such approval
  3. 14 months of such approval
  4. 6 months of such approval

Answer(s): C



What is the longest time after board approval that a bank can approve a line of credit for an executive officer?

  1. 12 months of such approval
  2. 9 months of such approval
  3. 14 months of such approval
  4. 6 months of such approval

Answer(s): C



First National Bank would like to adopt a recordkeeping system that complies with the requirements of Regulation O. Which of the following best describes the recordkeeping system required by Regulation O?

  1. A system in which the bank annually surveys all executive officers of First National and its affiliates to determine the insiders' related interests
  2. A system in which the bank asks all borrowers as loans are made whether the borrower is a related interest of an insider
  3. A system that surveys insiders of First National annually and requires each insider to disclose his or her related interests
  4. A system that requires an annual survey of affiliate insiders

Answer(s): C



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