1
NAFCU NCCO Exam 1 2025/2026 Exam
Questions and Verified Answers |
Already Graded A+
Federal Regulations are implemented by... - 🧠 ANSWER ✔✔Federal Agencies
APA (Administrative Procedure Act) - 🧠 ANSWER ✔✔Establishes specific
procedures for issuing proposed rules and providing time for public comment on
proposals
FCU Act - 🧠 ANSWER ✔✔Enacted by Congress in 1934, amended in 1970 -
created NCUA.
Title 1 General Provisions - 🧠 ANSWER ✔✔Express and incidental powers
Title II Share Insurance - 🧠 ANSWER ✔✔National Credit Union Share Insurance
Fund (NCUSIF). NCUA managed. $250,000 Share insurance. Credit Unions must
maintain at least 1% of shares in NCUSIF.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
1
STATEMENT. ALL RIGHTS RESERVED
, 2
Title III Central Liquiduty Fund - 🧠 ANSWER ✔✔Mixed ownership government
corp to provide liquidity to credit unions experiencing or unusual or unexpected
liquidity shortfalls. Regular or agent ownership.
Research and Compliance Resources - 🧠 ANSWER ✔✔Legal Opinion Letters
(LOL), Letters to Federal Credit Unions and Interpretive Rulings and Policy
Statements (IRPS)
Dodd-Frank Act - 🧠 ANSWER ✔✔Enacted 2010, created CFPB - authority to
define Unfair, Deceptive or Abusive Acts or Practices (UDAAP)
CFPB authority over - 🧠 ANSWER ✔✔Interpreting and enforcing enumerated
consumer laws except Truth in Savings - NCUA and consumer complaints
FCU Organization - 🧠 ANSWER ✔✔- Democratic
- Run by BOD and overseen by SC
- CU employees responsible for carrying out operations
- Members are part owners
FCU Bylaws - 🧠 ANSWER ✔✔Contract between CU and members, FCUs have
own unique version of bylaws
Bylaw provisions:
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
2
STATEMENT. ALL RIGHTS RESERVED
NAFCU NCCO Exam 1 2025/2026 Exam
Questions and Verified Answers |
Already Graded A+
Federal Regulations are implemented by... - 🧠 ANSWER ✔✔Federal Agencies
APA (Administrative Procedure Act) - 🧠 ANSWER ✔✔Establishes specific
procedures for issuing proposed rules and providing time for public comment on
proposals
FCU Act - 🧠 ANSWER ✔✔Enacted by Congress in 1934, amended in 1970 -
created NCUA.
Title 1 General Provisions - 🧠 ANSWER ✔✔Express and incidental powers
Title II Share Insurance - 🧠 ANSWER ✔✔National Credit Union Share Insurance
Fund (NCUSIF). NCUA managed. $250,000 Share insurance. Credit Unions must
maintain at least 1% of shares in NCUSIF.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
1
STATEMENT. ALL RIGHTS RESERVED
, 2
Title III Central Liquiduty Fund - 🧠 ANSWER ✔✔Mixed ownership government
corp to provide liquidity to credit unions experiencing or unusual or unexpected
liquidity shortfalls. Regular or agent ownership.
Research and Compliance Resources - 🧠 ANSWER ✔✔Legal Opinion Letters
(LOL), Letters to Federal Credit Unions and Interpretive Rulings and Policy
Statements (IRPS)
Dodd-Frank Act - 🧠 ANSWER ✔✔Enacted 2010, created CFPB - authority to
define Unfair, Deceptive or Abusive Acts or Practices (UDAAP)
CFPB authority over - 🧠 ANSWER ✔✔Interpreting and enforcing enumerated
consumer laws except Truth in Savings - NCUA and consumer complaints
FCU Organization - 🧠 ANSWER ✔✔- Democratic
- Run by BOD and overseen by SC
- CU employees responsible for carrying out operations
- Members are part owners
FCU Bylaws - 🧠 ANSWER ✔✔Contract between CU and members, FCUs have
own unique version of bylaws
Bylaw provisions:
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
2
STATEMENT. ALL RIGHTS RESERVED
