2025 /
CRCM
/ /
Exam Questions With Correct Answers
/ // // // //
Regulation //B—Applicant //- //verified //answer(s)-
✔✔An /
/applicant /
/is /
/any /
/person /
/who /
/asks /
/for /
/or /
/receives /
/credit /
/from //
a //creditor. //The //term //includes //any //person //who //is //or //may //become //contractually //liable //for
//an //extension //of //credit, //including //a //creditor //required //co-
signer //The //term //also //includes //guarantors, //sureties, //endorsers, //and //similar //parties
Fair //Lending //- //Credit //transaction //- //verified //answer(s)-
✔✔For /
/purposes /
/of /
/fair /
/lending /
/rules, //"credit /
/transaction" /
/covers /
/every /
/aspect //of //an //applicant's //dealings //with //the //creditor, //from //the //application //through //pay-
off //or //collection.
,Regulation //B—Age //Discrimination //- //verified //answer(s)-
✔✔There //are //special //rules //and //protections //for //elderly //applicants—
those /
/age /
/62 /
/or /
/older. /
/As /
/long /
/as /
/applicants /
/62 /
/or /
/older /
/are /
/treated /
/at /
/least //as //favorable //as //applicants //younger //than //62, //age //discrimination //has //not //occurred
Regulation //B— //Marital //Status //- //verified //answer(s)-
✔✔Marital /
/status /
/can /
/be /
/considered /
/in //only //three //ways. //The //applicant //is //Married //Separated, //or //Unmarried //(divorced, //never-
been-married, //or //widowed)
Regulation //B //- //Required //Information //to //Request //and //Document //- //verified //answer(s)-
✔✔Monitoring /
/information /
/is /
/required /
/when /
/the /
,/loan /
/is /
/primarily /
/to /
/purchase /
/or /
/refinance //
a/
/dwelling /
/that /
/is /
/occupied /
/or /
/to /
/be /
/occupied /
/by /
/the //applicant //as //their //principal //residence //and //the //loan //will //be //secured //by //the //dwelling.
//Additionally, //
a/
/creditor /
/that /
/is //
a/
/financial /
/institution //under //Regulation //C //(12 //C.F.R. //1003.2(g)) //may //collect //applicant //ethnicity, //race,
//and /
/sex /
/information /
/on /
/loans /
/secured /
/by //
a/
/dwelling //in //accordance //with //Appendix //B //of //HMDA //that //are //not //exempt //under //1003.3(c)
(11) //or //1003.3(c)(12).
, Reg. //B //- //Marital //Status //and //Marital //Income //- //verified //answer(s)-
✔✔1. /
/When /
/the /
/applicant /
/applies /
/for /
/individual /
/unsecured /
/credit, /
/you /
/may /
/not /
/ask /
/the /
/applicant's //marital //status //unless //the //applicant //resides //in //a //community //property //state //or
//is //relying //on //property //located //in //such //a //state. //
2. /
/Do /
/not /
/ask /
/whether /
/the /
/applicant /
/receives /
/marital /
/income /
/(alimony, /
/child /
/support, /
/separate /
/maintenance) /
/unless /
/and /
/until /
/they /
/are /
CRCM
/ /
Exam Questions With Correct Answers
/ // // // //
Regulation //B—Applicant //- //verified //answer(s)-
✔✔An /
/applicant /
/is /
/any /
/person /
/who /
/asks /
/for /
/or /
/receives /
/credit /
/from //
a //creditor. //The //term //includes //any //person //who //is //or //may //become //contractually //liable //for
//an //extension //of //credit, //including //a //creditor //required //co-
signer //The //term //also //includes //guarantors, //sureties, //endorsers, //and //similar //parties
Fair //Lending //- //Credit //transaction //- //verified //answer(s)-
✔✔For /
/purposes /
/of /
/fair /
/lending /
/rules, //"credit /
/transaction" /
/covers /
/every /
/aspect //of //an //applicant's //dealings //with //the //creditor, //from //the //application //through //pay-
off //or //collection.
,Regulation //B—Age //Discrimination //- //verified //answer(s)-
✔✔There //are //special //rules //and //protections //for //elderly //applicants—
those /
/age /
/62 /
/or /
/older. /
/As /
/long /
/as /
/applicants /
/62 /
/or /
/older /
/are /
/treated /
/at /
/least //as //favorable //as //applicants //younger //than //62, //age //discrimination //has //not //occurred
Regulation //B— //Marital //Status //- //verified //answer(s)-
✔✔Marital /
/status /
/can /
/be /
/considered /
/in //only //three //ways. //The //applicant //is //Married //Separated, //or //Unmarried //(divorced, //never-
been-married, //or //widowed)
Regulation //B //- //Required //Information //to //Request //and //Document //- //verified //answer(s)-
✔✔Monitoring /
/information /
/is /
/required /
/when /
/the /
,/loan /
/is /
/primarily /
/to /
/purchase /
/or /
/refinance //
a/
/dwelling /
/that /
/is /
/occupied /
/or /
/to /
/be /
/occupied /
/by /
/the //applicant //as //their //principal //residence //and //the //loan //will //be //secured //by //the //dwelling.
//Additionally, //
a/
/creditor /
/that /
/is //
a/
/financial /
/institution //under //Regulation //C //(12 //C.F.R. //1003.2(g)) //may //collect //applicant //ethnicity, //race,
//and /
/sex /
/information /
/on /
/loans /
/secured /
/by //
a/
/dwelling //in //accordance //with //Appendix //B //of //HMDA //that //are //not //exempt //under //1003.3(c)
(11) //or //1003.3(c)(12).
, Reg. //B //- //Marital //Status //and //Marital //Income //- //verified //answer(s)-
✔✔1. /
/When /
/the /
/applicant /
/applies /
/for /
/individual /
/unsecured /
/credit, /
/you /
/may /
/not /
/ask /
/the /
/applicant's //marital //status //unless //the //applicant //resides //in //a //community //property //state //or
//is //relying //on //property //located //in //such //a //state. //
2. /
/Do /
/not /
/ask /
/whether /
/the /
/applicant /
/receives /
/marital /
/income /
/(alimony, /
/child /
/support, /
/separate /
/maintenance) /
/unless /
/and /
/until /
/they /
/are /
