A+
CRCM Final Test 2025/2026 Exam
Questions and Verified Answers |
Already Graded 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
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 1
STATEMENT. ALL RIGHTS RESERVED
, A+
stopped. The bank should advise the customer that ____________. - 🧠ANSWER
✔✔The account will be credited promptly.
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
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 2
STATEMENT. ALL RIGHTS RESERVED
, A+
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:
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
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 3
STATEMENT. ALL RIGHTS RESERVED
, A+
Under CRA rules, banks other than small banks must report which of the following
types of loans? - 🧠ANSWER ✔✔Loans to small farms
CRA rules
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.
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 4
STATEMENT. ALL RIGHTS RESERVED
CRCM Final Test 2025/2026 Exam
Questions and Verified Answers |
Already Graded 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
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 1
STATEMENT. ALL RIGHTS RESERVED
, A+
stopped. The bank should advise the customer that ____________. - 🧠ANSWER
✔✔The account will be credited promptly.
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
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 2
STATEMENT. ALL RIGHTS RESERVED
, A+
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:
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
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 3
STATEMENT. ALL RIGHTS RESERVED
, A+
Under CRA rules, banks other than small banks must report which of the following
types of loans? - 🧠ANSWER ✔✔Loans to small farms
CRA rules
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.
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 4
STATEMENT. ALL RIGHTS RESERVED
