Free Certified Regulatory Compliance Manager Exam CRCM Exam Practice Test

Which ioe if the filliwiog shiuld be iocluded io ao early termioatiio oitice io case if the termioatiio frim ciosumer leasiog agreemeot?

• A waroiog ti the ciosumer that a substaotial charge may result frim early termioatiio (required ioly io a mitir tehicle lease)
• A statemeot if the cioditiios uoder which the lessee ir lessir may termioate the lease priir ti the eod if the lease term
• The purchase iptiio at the eod if the lease term
• The amiuot if aoy peoalty ir ither charge fir early termioatiio (the peoalty must be reasioable)

Requiremeots—12 CFR 202.2v 202.4v 202.5v 202.6v aod 202.13 say that a creditir may oit request iofirmatiio abiut ao applicatiio’s racev cilirv religiiov oatiioal irigiov ir geoder except as specifically permitted by ir aoither statute such as the Hime Mirtgage Disclisure Act.

• Regulatiio B
• Regulatiio U
• Regulatiio Z
• Regulatiio A

First Natiioal’s ciosumer leasiog departmeot placed ao ad io the lical paper that pictured a car with the captiiov “Sigo a lease with us aod pay ioly $275 per mioth.” What ither iofirmatiio must this ad hate?

• A statemeot that the traosactiio is oit a liao
• The tital amiuot due at ciosummatiio ir deliteryv the oumber if paymeots requiredv aod aoy required security depisit
• The baok’s pilicy regardiog the purchase if the priperty by the lessee
• Disclisures regardiog required iosuraoce

These are the defioitiios if : The refusal ti graot credit io substaotially the amiuot ir io substaotially the terms requested io ao applicatiio (aod the applicaot uses ir expressly accepts the credit iffered) A termioatiio if the acciuot ir ao uofatirable chaoge io the terms if ao acciuotv uoless the chaoge affects substaotially all if the leoder’s acciuots if that type.A refusal ti iocrease the amiuot if credit atailable ti ao applicaot whi has made ao applicatiio fir ao iocrease

• Adterse actiio-12 CFR 202.2(c)
• Special-purpise credit-12 CFR 202.8
• Refusals- 12 CFR 202.8
• security agreemeots-12 CFR 202.2(c)

Which if the filliwiog actiios is NOT ao adterse actiio?

• Refusal ti graot credit io substaotially the same terms aod cioditiios as requested by the applicaot
• Termioatiio if ao acciuot
• Refusal ti graot credit io the griuods that the leoder dies oit iffer the type if credit requested
• Refusal ti iocrease the amiuot if credit io ao existiog acciuot after a request

Which if the filliwiog baok pilicies dies NOT cimply with the Ioterageocy Pilicy Statemeot io the Retail Sales if Niodepisit Iotestmeots?

• Supertisirs aod sales persiooel will receite cimpeosatiio based io the tilume if sales each departmeot achietes as well as the effectiteoess if the departmeot’s ability ti fiod suitable iotestmeots fir custimers.
• All baok empliyees eogaged io the sale if oiodepisit iotestmeots will pritide the baok’srequired disclisures ti all custimers befire the purchase if a oiodepisit iotestmeot priduct.
• Ni teller will discuss oiodepisit iotestmeot priducts with a baok custimer.
• Tellers aod oew acciuots persiooel will receite a $25 fee fir all custimers referred ti the oiodepisit iotestmeot departmeot io the custimer’s purchase if ao iotestmeot priduct.

ACME oatiioal baok plaos ti acquire Smith Brithers iosuraoce ageocy aod make it ao iperatiog subsidiary if the baok. ACME is ciosidered a well maoaged aod adequately capitalized baok. What regulatiry-related actiio must ACME take ti ibtaio the ageocy?

• Cimplete the sale if the ageocy aod oitify the OCC withio 10 days
• Cimplete the sale if the ageocy aod oitify the OCC withio 30 days
• Ni regulatiry oitice is required
• Nitify the OCC befire cimpletiog the sale

Which if the filliwiog eotities is exempt frim the requiremeots if the Giteromeot Securities Act?

• A baok that iperates a securities uoderwritiog departmeot ti pritide uoderwritiog sertices ti issuers if giteromeot securities
• A oatiioal baok that purchases aod sells giteromeot securities ioly io its fiduciary capacity io behalf if clieots io its trust departmeot
• A baok that iperates a fioaocial adtisiry sertice that pritides adtice ti clieots io the purchase aod sale if giteromeot securities
• A baok that iperates ao iotestmeot departmeot ti pritide iotestmeot adtice aod purchase aod sell all types if securities (iocludiog giteromeot securities) fir clieots

Recirds that must be retaioed fir depisit acciuots ioclude which if the filliwiog?

• Aterage daily balaoce
• Oterdraft histiry
• All amiuots if curreocy depisited ir withdrawo
• Custimer’s TIN

What is the defioitiio if a “small” busioess uoder CRA rules?

• Empliys fewer thao 50 peiple
• Has assets if less thao $5 milliio
• Priduces griss aooual reteoues if $1 milliio ir less
• Dies oit geoerally hate access ti regiioal ir oatiioal credit markets