CRA COMPLIANCE FOR SMALL INSTITUTIONS TEST
WITH ALL CORRECT & 100% VERIFIED ANSWERS|
ALREADY GRADED A+
The CRA public notice must indicate ✔Correct Answer-where to send comments and complaints
related to its performance.
As an employee, you should be familiar with ✔Correct Answer-your institutions CRA performance
rating
An institution with a CRA rating of Needs to improve or substantial noncompliance must include I nits
public file a description of its efforts to improve its performance and update this description
✔Correct Answer-each quarter
The CRA public file must contain all written comments received from the public in the current year
and during the past ✔Correct Answer-two years
What is one of the lending criteria regulators consider when assessing a small a bank? ✔Correct
Answer-Record of taking action in response to written complaints.
one of the criteria regulators must consider when developing performance contexts for their
evaluation is ✔Correct Answer-product offerings and business strategies
CRA performance evaluations are intended to describe an institutions ✔Correct Answer-record of
meeting the credit needs of the community.
An institution must send a copy of its annual HMDA/LAR to the CFPB. The deadline for this
submission is ✔Correct Answer-march 1
The CRA is intended to eliminate what many people felt to be one of the causes for the economic
decline in urban areas. This decline, they said, was partially the result of banking institutions
✔Correct Answer-taking deposits from these neighborhoods and investing them in other areas.
A Financial institution that chooses to be evaluated under the optional strategic plan option must
have a plan that, among other things ✔Correct Answer-reflects public input
One of the criteria regulators must consider when developing performance contexts for their
evaluation is ✔Correct Answer-demographic data
What is one of the lending criteria regulators consider when assessing a small bank? ✔Correct
Answer-loan to deposit ratio
Who is responsible for seeing that the CRA policy is carried out on a day-to-day basis? ✔Correct
Answer-the cra compliance officer
WITH ALL CORRECT & 100% VERIFIED ANSWERS|
ALREADY GRADED A+
The CRA public notice must indicate ✔Correct Answer-where to send comments and complaints
related to its performance.
As an employee, you should be familiar with ✔Correct Answer-your institutions CRA performance
rating
An institution with a CRA rating of Needs to improve or substantial noncompliance must include I nits
public file a description of its efforts to improve its performance and update this description
✔Correct Answer-each quarter
The CRA public file must contain all written comments received from the public in the current year
and during the past ✔Correct Answer-two years
What is one of the lending criteria regulators consider when assessing a small a bank? ✔Correct
Answer-Record of taking action in response to written complaints.
one of the criteria regulators must consider when developing performance contexts for their
evaluation is ✔Correct Answer-product offerings and business strategies
CRA performance evaluations are intended to describe an institutions ✔Correct Answer-record of
meeting the credit needs of the community.
An institution must send a copy of its annual HMDA/LAR to the CFPB. The deadline for this
submission is ✔Correct Answer-march 1
The CRA is intended to eliminate what many people felt to be one of the causes for the economic
decline in urban areas. This decline, they said, was partially the result of banking institutions
✔Correct Answer-taking deposits from these neighborhoods and investing them in other areas.
A Financial institution that chooses to be evaluated under the optional strategic plan option must
have a plan that, among other things ✔Correct Answer-reflects public input
One of the criteria regulators must consider when developing performance contexts for their
evaluation is ✔Correct Answer-demographic data
What is one of the lending criteria regulators consider when assessing a small bank? ✔Correct
Answer-loan to deposit ratio
Who is responsible for seeing that the CRA policy is carried out on a day-to-day basis? ✔Correct
Answer-the cra compliance officer
