support@Free-Braindumps.com
Register Login
Cisco
CompTIA
ISC
EC-Council
EXIN
Fortinet
ITIL
Juniper
Microsoft
VMware
Avaya
SAP
Google
NVIDIA
Salesforce
Amazon
Palo Alto Networks
ISC2
CrowdStrike
Anthropic
All Vendors
  1. Home
  2. Exams
  3. Banking
  4. CRCM

Free CRCM Exam Braindumps
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) Questions 143–144 (page: 87)

Updated On: 9-Feb-2026
Page 87 of 276
PDF with 463 Questions

What may a creditor do if an applicant applies for individual unsecured credit?

  1. A creditor may never require the signature of another person.
  2. A creditor may ask for the signature of the applicant's spouse if the applicant is not creditworthy.
  3. A creditor may require another signature if the applicant relies on jointly owned property to establish creditworthiness.
  4. A creditor may ask the applicant to withdraw the application if it does not meet the creditor's credit standards.

Answer(s): C



What may a creditor do if an applicant applies for individual unsecured credit?

  1. A creditor may never require the signature of another person.
  2. A creditor may ask for the signature of the applicant's spouse if the applicant is not creditworthy.
  3. A creditor may require another signature if the applicant relies on jointly owned property to establish creditworthiness.
  4. A creditor may ask the applicant to withdraw the application if it does not meet the creditor's credit standards.

Answer(s): C



What may a creditor do if an applicant applies for individual unsecured credit?

  1. A creditor may never require the signature of another person.
  2. A creditor may ask for the signature of the applicant's spouse if the applicant is not creditworthy.
  3. A creditor may require another signature if the applicant relies on jointly owned property to establish creditworthiness.
  4. A creditor may ask the applicant to withdraw the application if it does not meet the creditor's credit standards.

Answer(s): C



Cassandra Phillips requested a loan to purchase a boat. She asked for $15,000 at 7.5 percent for seven years. The bank considered her request but decided, considering her income and credit history, the best offer of credit the bank could make was $10,000 at 8.25 percent for five years. Rhonda Mays, the loan officer, wrote a letter, setting forth the terms the bank could offer. The letter was mailed on July 1. Ms. Phillips received the letter and began to look elsewhere for a loan on the terms and conditions she wanted. Does the bank have any additional responsibility to Ms. Phillips?

  1. No. Because the bank made the offer of a loan, there is no further responsibility.
  2. No. Because the customer decided to look elsewhere, there is no further responsibility.
  3. Yes. The bank must follow up with a phone call to determine if Ms. Phillips is still interested.
  4. Yes. The bank must send an adverse action notice because Ms. Phillips did not take the bank's counteroffer.

Answer(s): D



Cassandra Phillips requested a loan to purchase a boat. She asked for $15,000 at 7.5 percent for seven years. The bank considered her request but decided, considering her income and credit history, the best offer of credit the bank could make was $10,000 at 8.25 percent for five years. Rhonda Mays, the loan officer, wrote a letter, setting forth the terms the bank could offer. The letter was mailed on July 1. Ms. Phillips received the letter and began to look elsewhere for a loan on the terms and conditions she wanted. Does the bank have any additional responsibility to Ms. Phillips?

  1. No. Because the bank made the offer of a loan, there is no further responsibility.
  2. No. Because the customer decided to look elsewhere, there is no further responsibility.
  3. Yes. The bank must follow up with a phone call to determine if Ms. Phillips is still interested.
  4. Yes. The bank must send an adverse action notice because Ms. Phillips did not take the bank's counteroffer.

Answer(s): D



  PDF
Viewing page 87 of 276
Viewing questions 431 - 435 out of 463 questions


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

AI Tutor AI Tutor 👋 I’m here to help!