A+
CRCM Sample Exam 2025/2026 Exam
Questions and Detailed Answers | Get it
100% Correct Answers
A financial institution offers residential loans. After reading a new regulation that
expands HOEPA coverage, the compliance officer analyzes the institution's
lending portfolio and determines that no existing loans are covered. The
compliance officer should NEXT _______
a. advise management to sell that portion of the mortgage portfolio.
b. incorporate the new HOEPA triggers into existing training and procedures.
c. purchase new software that identifies HOEPA covered loans.
d. draft a policy covering the new HOEPA rules. - 🧠ANSWER ✔✔b. incorporate
the new HOEPA triggers into existing training and procedures.
1
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, A+
A bank has been meeting periodically with a local community activist group to get
the group's input on the needs of the community and how the bank can help serve
those needs through its lending activities. The bank president read an article about
the CRA Sunshine Regulation and asked the compliance officer what the bank's
responsibilities are under this regulation as it relates to these meetings with the
community group. Which of the following best represents the bank's
responsibilities under the CRA Sunshine Regulation?
a. The bank must document in writing the minutes of all meetings and place the
minutes in its CRA Public File.
b. The bank has no responsibilities under the CRA Sunshine Regulation in relation
to the meetings
c. If the bank and the community group agree to any specific actions during the
meetings, the bank must make those agreements public.
d. If the meeting last for more than 3 years, the bank must - 🧠ANSWER ✔✔b. The
bank has no responsibility under the CRA Sunshine Regulation in relation to the
meetings.
2
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, A+
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?
a. Drafting the content of the electronic disclosures
b. Setting reasonable and competitive fees for the services offered.
c. Determining which products to include in the electronic deliver system
d. Identifying the consumer protection regulatory provisions on liability and error
resolution. - 🧠ANSWER ✔✔d. Identifying the consumer protection regulatory
provisions on liability and error resolution.
When you bank receives a garnishment order for an account that potentially
contains federal benefit payments, how long of a lookback period is the bank
required to check the account for covered benefit payments?
a. 2 months
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, A+
b. 1 month
c. 6 months
d. 2 months - 🧠ANSWER ✔✔a. 2 months
The marketing officer requests your review of a savings account proposal. Savings
accounts currently pays .5% interest, compounded daily. She proposes that the
compounding basis be changed to quarterly. This will result in significant savings
to the bank, with little customer attrition. In reviewing the current savings brochure
provided to customers, you note the brochure states that the rate will compound
daily. It also states that the bank reserves the right to require a 30-day notice prior
to a withdrawal from a savings account. The bank has never exercised this right
and there are currently no plans to do so. The brochure further states that the bank
reserves the right to amend deposit contract terms by providing 21-day advance
notice to the depositor. State laws are silent with respect to changes on deposit
accounts. Which of the following describes the correct number of days of advance
notice of an adverse chan - 🧠ANSWER ✔✔c. 30, Regulation DD
4
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
CRCM Sample Exam 2025/2026 Exam
Questions and Detailed Answers | Get it
100% Correct Answers
A financial institution offers residential loans. After reading a new regulation that
expands HOEPA coverage, the compliance officer analyzes the institution's
lending portfolio and determines that no existing loans are covered. The
compliance officer should NEXT _______
a. advise management to sell that portion of the mortgage portfolio.
b. incorporate the new HOEPA triggers into existing training and procedures.
c. purchase new software that identifies HOEPA covered loans.
d. draft a policy covering the new HOEPA rules. - 🧠ANSWER ✔✔b. incorporate
the new HOEPA triggers into existing training and procedures.
1
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, A+
A bank has been meeting periodically with a local community activist group to get
the group's input on the needs of the community and how the bank can help serve
those needs through its lending activities. The bank president read an article about
the CRA Sunshine Regulation and asked the compliance officer what the bank's
responsibilities are under this regulation as it relates to these meetings with the
community group. Which of the following best represents the bank's
responsibilities under the CRA Sunshine Regulation?
a. The bank must document in writing the minutes of all meetings and place the
minutes in its CRA Public File.
b. The bank has no responsibilities under the CRA Sunshine Regulation in relation
to the meetings
c. If the bank and the community group agree to any specific actions during the
meetings, the bank must make those agreements public.
d. If the meeting last for more than 3 years, the bank must - 🧠ANSWER ✔✔b. The
bank has no responsibility under the CRA Sunshine Regulation in relation to the
meetings.
2
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, A+
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?
a. Drafting the content of the electronic disclosures
b. Setting reasonable and competitive fees for the services offered.
c. Determining which products to include in the electronic deliver system
d. Identifying the consumer protection regulatory provisions on liability and error
resolution. - 🧠ANSWER ✔✔d. Identifying the consumer protection regulatory
provisions on liability and error resolution.
When you bank receives a garnishment order for an account that potentially
contains federal benefit payments, how long of a lookback period is the bank
required to check the account for covered benefit payments?
a. 2 months
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, A+
b. 1 month
c. 6 months
d. 2 months - 🧠ANSWER ✔✔a. 2 months
The marketing officer requests your review of a savings account proposal. Savings
accounts currently pays .5% interest, compounded daily. She proposes that the
compounding basis be changed to quarterly. This will result in significant savings
to the bank, with little customer attrition. In reviewing the current savings brochure
provided to customers, you note the brochure states that the rate will compound
daily. It also states that the bank reserves the right to require a 30-day notice prior
to a withdrawal from a savings account. The bank has never exercised this right
and there are currently no plans to do so. The brochure further states that the bank
reserves the right to amend deposit contract terms by providing 21-day advance
notice to the depositor. State laws are silent with respect to changes on deposit
accounts. Which of the following describes the correct number of days of advance
notice of an adverse chan - 🧠ANSWER ✔✔c. 30, Regulation DD
4
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
