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Banking CRCM Exam (page: 45)
Banking CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM)
Updated on: 12-Aug-2025

Viewing Page 45 of 276
CRCM PDF 463 Questions

Definition of completed application--12 CFR 202.2(f) is:

  1. An application for which the bank has received all the information it regularly considers in evaluation, including credit reports, verifications, and so forth
  2. The creditor must be reasonably diligent in collecting information to complete the application (for example, ordering credit bureau reports)
  3. An inquiry becomes an application when the creditor evaluates information and decides to grant or decline the credit
  4. Requests for written preapprovals to be issued by the lender are considered applications

Answer(s): A,B



Requirements--12 CFR 202.2, 202.4, 202.5, 202.6, and 202.13 say that a creditor may not request information about an application's race, color, religion, national origin, or gender except as specifically permitted by _or another statute such as the Home Mortgage Disclosure Act.

  1. Regulation B
  2. Regulation U
  3. Regulation Z
  4. Regulation A

Answer(s): A



Requirements--12 CFR 202.2, 202.4, 202.5, 202.6, and 202.13 say that a creditor may not request information about an application's race, color, religion, national origin, or gender except as specifically permitted by _or another statute such as the Home Mortgage Disclosure Act.

  1. Regulation B
  2. Regulation U
  3. Regulation Z
  4. Regulation A

Answer(s): A



Requirements--12 CFR 202.2, 202.4, 202.5, 202.6, and 202.13 say that a creditor may not request information about an application's race, color, religion, national origin, or gender except as specifically permitted by _or another statute such as the Home Mortgage Disclosure Act.

  1. Regulation B
  2. Regulation U
  3. Regulation Z
  4. Regulation A

Answer(s): A



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.

  1. Credit terms
  2. Credit rating
  3. Credit transaction
  4. Credit application

Answer(s): C



Viewing Page 45 of 276



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LeAnne Hair 8/24/2023 12:47:00 PM

#229 in incorrect - all the customers require an annual review
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