CRCM Certification Exam Questions with AI Explanations

QUESTION: 91

During a recent compliance examination, regulatory examiners found that the bank was not conducting flood hazard area determinations before closing on construction loans. The compliance professional has reviewed the files and agreed with the examiners' finding. What should be done FIRST?

Review the bank's flood policies and procedures to determine where the compliance failure occurred
Conduct a risk assessment of the flood determination requirement on construction loans
Prepare an analysis for bank management explaining the requirement
Review all construction loan files to determine the extent of the problem

Answer(s): A

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QUESTION: 91

During a recent compliance examination, regulatory examiners found that the bank was not conducting flood hazard area determinations before closing on construction loans. The compliance professional has reviewed the files and agreed with the examiners' finding. What should be done FIRST?

Review the bank's flood policies and procedures to determine where the compliance failure occurred
Conduct a risk assessment of the flood determination requirement on construction loans
Prepare an analysis for bank management explaining the requirement
Review all construction loan files to determine the extent of the problem

Answer(s): A

Reveal Solution Next Question

QUESTION: 92

During a recent compliance examination, regulators cited the bank for violations of various marketing regulations. How should the compliance professional FIRST respond?

Contact the bank's marketing manager to discuss the finding
Develop a policy requiring that all marketing materials be reviewed and approved by compliance before being published
Set up a training class for the marketing department
Review the marketing materials and applicable regulations to verify the finding.

Answer(s): D

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QUESTION: 92

During a recent compliance examination, regulators cited the bank for violations of various marketing regulations. How should the compliance professional FIRST respond?

Contact the bank's marketing manager to discuss the finding
Develop a policy requiring that all marketing materials be reviewed and approved by compliance before being published
Set up a training class for the marketing department
Review the marketing materials and applicable regulations to verify the finding.

Answer(s): D

Reveal Solution Next Question

QUESTION: 92

During a recent compliance examination, regulators cited the bank for violations of various marketing regulations. How should the compliance professional FIRST respond?

Contact the bank's marketing manager to discuss the finding
Develop a policy requiring that all marketing materials be reviewed and approved by compliance before being published
Set up a training class for the marketing department
Review the marketing materials and applicable regulations to verify the finding.

Answer(s): D

Reveal Solution Next Question

ABA CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) CRCM Dumps in PDF

Free ABA CRCM Real Questions (page: 194)

QUESTION: 91

QUESTION: 91

QUESTION: 92

QUESTION: 92

QUESTION: 92