FDIC, Regulation, and Bank Compliance: Key
Concepts and Procedures UPDATED ACTUAL
Questions and CORRECT Answers
If a State Nonmember Bank wants to d) FDIC
acquire shares of a National Bank,
which agency should be notified?
a) OCC
b) Federal Reserve Bank
c) Office of Thrift Supervision
d) FDIC
e) None of the above
According to Section 2 of the FDI d) 6 years
Act, how long are the terms for the
members of the FDIC board of
directors?
a) 3 years
b) 4 years
c) 5 years
d) 6 years
,3. When are branch examinations a) On an as needed basis
conducted?
a) On an as needed basis
b) Annually
c) Semi-Annually
d) Bi-Annually
According to Part 326.8, all of the b) filing the BSA program with the FDIC
following must be included in a
bank's BSA program except:
a) independent testing
b) filing the BSA program with the
FDIC
c) designating an individual
responsible for compliance with the
program
d) training of appropriate personnel
,A bank has engaged an insurance d) the FDIC should be notified about the activity
underwriter to sell credit life
insurance for the bank. All of the
profit will revert to the insurance
agent, and the bank will be
reimbursed by the agent for all
expenses incurred. All of the
following are required except:
a) directors should review expenses
associated with the activity annually
b) shareholders should approve the
activity
c) the bonding company should be
notified
d) the FDIC should be notified about
the activity
A violation caused a significant loss b) $500M (1% of total assets)
to the bank. The violation was
knowingly committed. What volume
of CMPs could be assessed to the
bank if it has $50MM in TA?
a) $5MM (10% of total assets)
b) $2.5MM (5% of total assets)
b) $500M (1% of total assets)
d) $250M (0.5% of total assets)
, According to Section 7 of the FDI d) proforma financial statements for the bank
Act, all of the following information
should be contained in a change in
control notice except:
a) financial statements of the
acquiring persons
b) terms and conditions of the
proposed acquisitions
c) any plans for changes in
management or the bank's business
d) proforma financial statements for
the bank
A bank leases computer equipment a) should be accounted for as an operating lease.
from a company. The terms of the
lease call for monthly payments of
$1,100 for a period of 3.5 years. The
equipment has a FMV of $80M and
its economic useful life of 5 years.
Which of the following is true? (CRI
A-52)
a) should be accounted for as an
operating lease
b) should be accounted for as a
capital lease
Concepts and Procedures UPDATED ACTUAL
Questions and CORRECT Answers
If a State Nonmember Bank wants to d) FDIC
acquire shares of a National Bank,
which agency should be notified?
a) OCC
b) Federal Reserve Bank
c) Office of Thrift Supervision
d) FDIC
e) None of the above
According to Section 2 of the FDI d) 6 years
Act, how long are the terms for the
members of the FDIC board of
directors?
a) 3 years
b) 4 years
c) 5 years
d) 6 years
,3. When are branch examinations a) On an as needed basis
conducted?
a) On an as needed basis
b) Annually
c) Semi-Annually
d) Bi-Annually
According to Part 326.8, all of the b) filing the BSA program with the FDIC
following must be included in a
bank's BSA program except:
a) independent testing
b) filing the BSA program with the
FDIC
c) designating an individual
responsible for compliance with the
program
d) training of appropriate personnel
,A bank has engaged an insurance d) the FDIC should be notified about the activity
underwriter to sell credit life
insurance for the bank. All of the
profit will revert to the insurance
agent, and the bank will be
reimbursed by the agent for all
expenses incurred. All of the
following are required except:
a) directors should review expenses
associated with the activity annually
b) shareholders should approve the
activity
c) the bonding company should be
notified
d) the FDIC should be notified about
the activity
A violation caused a significant loss b) $500M (1% of total assets)
to the bank. The violation was
knowingly committed. What volume
of CMPs could be assessed to the
bank if it has $50MM in TA?
a) $5MM (10% of total assets)
b) $2.5MM (5% of total assets)
b) $500M (1% of total assets)
d) $250M (0.5% of total assets)
, According to Section 7 of the FDI d) proforma financial statements for the bank
Act, all of the following information
should be contained in a change in
control notice except:
a) financial statements of the
acquiring persons
b) terms and conditions of the
proposed acquisitions
c) any plans for changes in
management or the bank's business
d) proforma financial statements for
the bank
A bank leases computer equipment a) should be accounted for as an operating lease.
from a company. The terms of the
lease call for monthly payments of
$1,100 for a period of 3.5 years. The
equipment has a FMV of $80M and
its economic useful life of 5 years.
Which of the following is true? (CRI
A-52)
a) should be accounted for as an
operating lease
b) should be accounted for as a
capital lease
