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Banking CRCM Exam (page: 9)
Banking CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM)
Updated on: 01-Aug-2025

Viewing Page 9 of 276
CRCM PDF 463 Questions

Which one of the following is out of the FIRREA penalties included in the enforcement section of Adjusted Mortgage Regulation (12 CFR 34)?

  1. Penalties up to $7,500 per day for violations of laws and regulations
  2. Penalties up to $47,500 per day if violations or unsafe or unsound practices are engaged in recklessly or are part of a pattern of misconduct that causes more than a minimal loss to the bank or any pecuniary gain to the parties involved
  3. Penalties up to $1,375,000 per day against persons who knowingly commit a violation and knowingly or recklessly cause a substantial loss to the bank or a substantial benefit to the party
  4. Penalties up to $6,500 per day for violations of laws and regulations

Answer(s): A,C



In Requirements section of Adjusted Mortgage Regulation (12 CFR 34), for loans subject to both the OCC ARM regulation and to Regulation Z, 12 CFR 226.19(b)--that is, loans made to an individual, for personal purposes, secured by the borrower's principal dwelling, and having a term longer than one year-- the index to which the interest rate is tied must be:

  1. Specified in loan documents
  2. Readily available to and verifiable by the browser
  3. Multiple values of a chosen measure or a moving average of the chosen measure calculated over a specified period
  4. A and B only

Answer(s): D



In Requirements section of Adjusted Mortgage Regulation (12 CFR 34), for loans subject to both the OCC ARM regulation and to Regulation Z, 12 CFR 226.19(b)--that is, loans made to an individual, for personal purposes, secured by the borrower's principal dwelling, and having a term longer than one year-- the index to which the interest rate is tied must be:

  1. Specified in loan documents
  2. Readily available to and verifiable by the browser
  3. Multiple values of a chosen measure or a moving average of the chosen measure calculated over a specified period
  4. A and B only

Answer(s): D



In Requirements section of Adjusted Mortgage Regulation (12 CFR 34), for loans subject to both the OCC ARM regulation and to Regulation Z, 12 CFR 226.19(b)--that is, loans made to an individual, for personal purposes, secured by the borrower's principal dwelling, and having a term longer than one year-- the index to which the interest rate is tied must be:

  1. Specified in loan documents
  2. Readily available to and verifiable by the browser
  3. Multiple values of a chosen measure or a moving average of the chosen measure calculated over a specified period
  4. A and B only

Answer(s): D



Subprime borrowers are those with weakened credit histories or reduced repayment capacity. Loans to these borrowers historically have had a higher delinquency rate. Many lenders have expanded their lending programs and added subprime products as a method by providing greater credit access to lower-income of meeting their
consumers.

  1. Community Reinvestment Act (CRA) responsibilities
  2. Fraudulent marketing tactics
  3. FTC Act
  4. Predatory Lending

Answer(s): A



Viewing Page 9 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
UNITED STATES