COMMUNITY REINVESTMENT ACT (CRA) FOR SMALL
INSTITUTIONS EXAM WITH ALL CORRECT & 100%
VERIFIED ANSWERS|UPDATED TO PASS
It's a good idea for every branch employee to be able to direct customers to: ✔Correct Answer-All
of the above
A small institution is one that, as of December 31 of either of the prior two calendar years, had total
assets of less than $1.216 billion. ✔Correct Answer-True
Among other things, small institutions are evaluated on the institution's response to CRA-related
complaints. ✔Correct Answer-True
A copy of the public sections of an institution's CRA performance evaluation must be available
where? ✔Correct Answer-All branches, including the main office
CRA assessment areas can consist of more than one metropolitan statistical area (MSA). ✔Correct
Answer-True
"Low income" is defined as an individual or family income that is less than 50% of the area median
income. ✔Correct Answer-True
Intermediate small institutions are evaluated on two tests: ✔Correct Answer-Lending Test and
Community Development Test
The worst CRA rating that an institution can receive is: ✔Correct Answer-Substantial
noncompliance
Community development and reinvestment helps revitalize neighborhoods by providing access to
money and development. ✔Correct Answer-True
"Moderate income" is defined as an individual or family income that ranges between 30% and 50%
of the area median income. ✔Correct Answer-False
What is an institution's CRA assessment area? ✔Correct Answer-Communities it serves
Every financial institution must make all public files available to the public for inspection at no cost at
which location(s)? ✔Correct Answer-Main office, and if it has branches in other states, in at least
one branch in each state
All contact employees should know the procedure for a customer to request a copy of the
institution's complete public file. ✔Correct Answer-True
The public can request a copy of a financial institution's public records for a fee that covers copying
and mailing. ✔Correct Answer-True
Small institutions are rated on five lending criteria. Which one of the following is NOT one of these
criteria? ✔Correct Answer-Service
INSTITUTIONS EXAM WITH ALL CORRECT & 100%
VERIFIED ANSWERS|UPDATED TO PASS
It's a good idea for every branch employee to be able to direct customers to: ✔Correct Answer-All
of the above
A small institution is one that, as of December 31 of either of the prior two calendar years, had total
assets of less than $1.216 billion. ✔Correct Answer-True
Among other things, small institutions are evaluated on the institution's response to CRA-related
complaints. ✔Correct Answer-True
A copy of the public sections of an institution's CRA performance evaluation must be available
where? ✔Correct Answer-All branches, including the main office
CRA assessment areas can consist of more than one metropolitan statistical area (MSA). ✔Correct
Answer-True
"Low income" is defined as an individual or family income that is less than 50% of the area median
income. ✔Correct Answer-True
Intermediate small institutions are evaluated on two tests: ✔Correct Answer-Lending Test and
Community Development Test
The worst CRA rating that an institution can receive is: ✔Correct Answer-Substantial
noncompliance
Community development and reinvestment helps revitalize neighborhoods by providing access to
money and development. ✔Correct Answer-True
"Moderate income" is defined as an individual or family income that ranges between 30% and 50%
of the area median income. ✔Correct Answer-False
What is an institution's CRA assessment area? ✔Correct Answer-Communities it serves
Every financial institution must make all public files available to the public for inspection at no cost at
which location(s)? ✔Correct Answer-Main office, and if it has branches in other states, in at least
one branch in each state
All contact employees should know the procedure for a customer to request a copy of the
institution's complete public file. ✔Correct Answer-True
The public can request a copy of a financial institution's public records for a fee that covers copying
and mailing. ✔Correct Answer-True
Small institutions are rated on five lending criteria. Which one of the following is NOT one of these
criteria? ✔Correct Answer-Service
