ABA CRCM Certification Exam Questions with AI Explanations

QUESTION: 76

is defined as every aspect of an applicant's dealing with a creditor, beginning with information gathering and continuing through to the servicing and collection of the loan.

Credit terms
Credit rating
Credit transaction
Credit application

Answer(s): C

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QUESTION: 76

is defined as every aspect of an applicant's dealing with a creditor, beginning with information gathering and continuing through to the servicing and collection of the loan.

Credit terms
Credit rating
Credit transaction
Credit application

Answer(s): C

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QUESTION: 77

In Processing and evaluating applications--12 CFR 202.6, protected income part is also under discussion. Which of the following considerations is NOT its part?

Public assistance income may not consider whether an applicant's income is from a public assistance source
Public assistance income may consider as it relates to another pertinent element of creditworthiness
May consider length of time public assistance income will be received, whether the applicant will continue to qualify for the income, and whether the income can be garnished
Can discount or refuse to consider the following:
Part-time income
Annuities
Pensions
Retirement benefits
Alimony, child support, and separate maintenance payments to the extent they are likely to be consistently made

Answer(s): D

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QUESTION: 77

In Processing and evaluating applications--12 CFR 202.6, protected income part is also under discussion. Which of the following considerations is NOT its part?

Public assistance income may not consider whether an applicant's income is from a public assistance source
Public assistance income may consider as it relates to another pertinent element of creditworthiness
May consider length of time public assistance income will be received, whether the applicant will continue to qualify for the income, and whether the income can be garnished
Can discount or refuse to consider the following:
Part-time income
Annuities
Pensions
Retirement benefits
Alimony, child support, and separate maintenance payments to the extent they are likely to be consistently made

Answer(s): D

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QUESTION: 77

In Processing and evaluating applications--12 CFR 202.6, protected income part is also under discussion. Which of the following considerations is NOT its part?

Public assistance income may not consider whether an applicant's income is from a public assistance source
Public assistance income may consider as it relates to another pertinent element of creditworthiness
May consider length of time public assistance income will be received, whether the applicant will continue to qualify for the income, and whether the income can be garnished
Can discount or refuse to consider the following:
Part-time income
Annuities
Pensions
Retirement benefits
Alimony, child support, and separate maintenance payments to the extent they are likely to be consistently made

Answer(s): D

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

Free ABA CRCM Real Questions (page: 46)

QUESTION: 76

QUESTION: 76

QUESTION: 77

QUESTION: 77

QUESTION: 77