FDIC TE Set 200 Exam Practice Questions and Answers

FDIC TE Set 200 Exam Practice Questions and Answers Alternate Exam Program - When can FDIC alternate exams with state? - ANSWER-Alternate Exams can be accepted: Composite 1-2 Stable and improving 3 (confirmed by SCOR) and no adverse trends *(length of time between end of one exam and start of next should not exceed 12 to 18 months.) Who is on the FDIC Board? - ANSWER-1. Comptroller of the Currency 2. Director of the CFPB 3. 3 appointed by President of US (incl. Chairmen) a. Individuals who are citizens of US b. One who shall have State bank Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 2/25 supervisory experience Not more than three members may be of the same political party 6 yr term / 5 yr. for Chairman Primary Causes of Violations - ANSWER-MUNW Unfamiliarity Negligence Misinterpretation Willful noncompliance Bank may accept appraisal prepared by an appraiser engaged by another bank, if..... - ANSWER-1. Appraiser has no direct or indirect interest in property/transaction 2. The regulated institution determines that the appriasal conforms to requirements of Part 323 and is acceptable (Appraisal review) What is the one fundamental & essential attribute all bank directors must possess without exception? - ANSWER-Personal Integrity Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 3/25 What does Appendix B to Part 365 do? - ANSWER-Implement Secure & Fair Enforcement for Mortgage Licensing Act's (SAFE Act) registration requirement for mortgage loan originators SAFE ACt provides (ATCAH) Aggregating and improving the flow of information between regulators Providing increased accountability and tracking of mortgage loan originators Enhancing Consumer Protections Supporting anti-fraud measures Provide consumers employment history, disciplinary history, free and easily accessible What should bank management do if they are asked to disclose a SAR through subpoena or otherwise? (PART 353.3) - ANSWER-Decline to produce SAR or any info that would disclose that SAR has been prepared or filed using Part 353 as support and notify FDIC RO Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 4/25 Bank encouraged to file copies of SARs with appropriate State and local authorities when appropriate How long must a bank maintain copies of field SARs & supporting info? (Part 353.3) - ANSWER-5 years from date of filing (and property of US government). Timelines for SAR filings? (Part 353.3) - ANSWER-A SAR must be filed within 30 days of initial detection of facts warranting SAR If no suspect identified - timeline can be extended to 60 days. When does a bank not have to file a SAR? - ANSWER-Robbery or burglary reported to law enforcement Lost, missing, counterfeit, or stolen securities if following proper reporting requirements to SEC. When must a bank file a SAR? - ANSWER-1. Insider abuse involving any amount - directors, officers, employees, agents, or other IAPs Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 5/25 2. Suspected federal criminal violations of $5M or more where a suspect can be identified. 3. Suspected federal criminal violations of $25M+ w/o ID of suspect 4. Transactions aggregating $5M or more that involve potential money laundering or Vios of BSA. How does FDIC enforce Part 348? (Management Interlock) - ANSWER- Refers case to the Attorney General to ensure compliance with