CRCM Final Test 2025/2026 Exam
Questions and Answers 100%
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Instructions to executive officers regarding their reporting obligations under
Regulation O should NOT include ____________. - 🧠ANSWER
✔✔Completing the annual report of indebtedness to correspondent banks.
Reg O:
A customer who has preauthorized transfers made on the 15th of each
month to the utility company, sent written notification to the bank on the 5th
of the current month that he wanted to discontinue the automatic transfers.
The bank received the customer's notification on the 7th. On the 20th of the
month, the customer telephoned to state that his account balance indicated
that payment was NOT stopped. The bank should advise the customer that
____________. - 🧠ANSWER ✔✔The account will be credited promptly.
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
1
,Reg E:
When reviewing exemptions for continued eligibility under the Bank
Secrecy Act, a review of which of the following is LEAST helpful? -
🧠ANSWER ✔✔Currency Transaction Reports CRTs
AML not BSA
When conducting an audit of IRS tax compliance procedures, you should
select a sample of which of the following forms? - 🧠ANSWER ✔✔1099A
IRS Regs
In monitoring a bank's compliance with the federal Fair Housing Act, it is
LEAST relevant to review ____________. - 🧠ANSWER ✔✔Handicap
accessibility to property secured by a first mortgage loan made by the
bank.
Fair Housing Act:
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
2
,One purpose of CRA Regulations is to ____________. - 🧠ANSWER
✔✔Encourage banks to help meet the credit needs of their local
community.
CRA
A recent regulatory change increased the amount of FDIC insurance
coverage for individual depositors. The compliance manager should FIRST
_____________. - 🧠ANSWER ✔✔update the employee manual
not develop a new policy or revise internal monitoring schedules in this
area.
Compliance Management
Under CRA rules, banks other than small banks must report which of the
following types of loans? - 🧠ANSWER ✔✔Loans to small farms
CRA rules
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, National Bank is headquartered in Colorado and has branches in Nebraska
and Wyoming that it acquired two years ago. Each year the federal
regulatory agencies publish the host state loan-to-deposit ratios for each
state, which are used to determine if banks with interstate branches are in
compliance with the Riegle-Neal Interstate Banking and Branching
Efficiency Act of 1994. To comply with the Act, the National Bank must: -
🧠ANSWER ✔✔Have a loan-to-deposit ratio in each state that equals or
exceeds 50% of the loan-to-deposit ratio of each host state.
Riegle-Neal
The bank is beginning e-banking and wants to deliver a full range of
consumer electronic services. The compliance manager is a member of the
project team. Which of the following functions is MOST appropriate for the
compliance manager during the INITIAL stages of this project? -
🧠ANSWER ✔✔ID the consumer protection regulatory provisions on liability
and error resolution.
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
4
Questions and Answers 100%
Guaranteed Success | Already Rated A+
Instructions to executive officers regarding their reporting obligations under
Regulation O should NOT include ____________. - 🧠ANSWER
✔✔Completing the annual report of indebtedness to correspondent banks.
Reg O:
A customer who has preauthorized transfers made on the 15th of each
month to the utility company, sent written notification to the bank on the 5th
of the current month that he wanted to discontinue the automatic transfers.
The bank received the customer's notification on the 7th. On the 20th of the
month, the customer telephoned to state that his account balance indicated
that payment was NOT stopped. The bank should advise the customer that
____________. - 🧠ANSWER ✔✔The account will be credited promptly.
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
1
,Reg E:
When reviewing exemptions for continued eligibility under the Bank
Secrecy Act, a review of which of the following is LEAST helpful? -
🧠ANSWER ✔✔Currency Transaction Reports CRTs
AML not BSA
When conducting an audit of IRS tax compliance procedures, you should
select a sample of which of the following forms? - 🧠ANSWER ✔✔1099A
IRS Regs
In monitoring a bank's compliance with the federal Fair Housing Act, it is
LEAST relevant to review ____________. - 🧠ANSWER ✔✔Handicap
accessibility to property secured by a first mortgage loan made by the
bank.
Fair Housing Act:
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
2
,One purpose of CRA Regulations is to ____________. - 🧠ANSWER
✔✔Encourage banks to help meet the credit needs of their local
community.
CRA
A recent regulatory change increased the amount of FDIC insurance
coverage for individual depositors. The compliance manager should FIRST
_____________. - 🧠ANSWER ✔✔update the employee manual
not develop a new policy or revise internal monitoring schedules in this
area.
Compliance Management
Under CRA rules, banks other than small banks must report which of the
following types of loans? - 🧠ANSWER ✔✔Loans to small farms
CRA rules
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, National Bank is headquartered in Colorado and has branches in Nebraska
and Wyoming that it acquired two years ago. Each year the federal
regulatory agencies publish the host state loan-to-deposit ratios for each
state, which are used to determine if banks with interstate branches are in
compliance with the Riegle-Neal Interstate Banking and Branching
Efficiency Act of 1994. To comply with the Act, the National Bank must: -
🧠ANSWER ✔✔Have a loan-to-deposit ratio in each state that equals or
exceeds 50% of the loan-to-deposit ratio of each host state.
Riegle-Neal
The bank is beginning e-banking and wants to deliver a full range of
consumer electronic services. The compliance manager is a member of the
project team. Which of the following functions is MOST appropriate for the
compliance manager during the INITIAL stages of this project? -
🧠ANSWER ✔✔ID the consumer protection regulatory provisions on liability
and error resolution.
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
4
