CRCM Practice Online

Question 1

Your institution has identified a transaction by an existing depositor that should be blocked under

OFAC requirements. The branch manager contacts you for specific instructions. Before reporting the

transaction to OFAC, what should the bank do?

A : Reject the transaction

B : Process the transaction

C :

Close the customer’s account

D : Place the funds in an interest-bearing account

Answer: D

Question 2

When conducting a records search pursuant to a FinCEN request, what must a bank search?

A : All customer records from the previous five years

B : All accounts maintained within the previous 12 months and transaction records for 6 months

C : Only records that can be electronically searched

D : Nothing; searches are voluntary

Answer: B

Question 3

The OCC recommends all but one of the following actions to help prevent a national bank’s

purchasing or acquiring predatory or abusive loans. Which practice is NOT recommended?

A :

Establish policies on the bank’s relationship with third-party brokers and originators

B : Review loan documentation

C : Audit the third-party broker

D : Require the broker to establish a reserve account for legal contingencies

Answer: D

Question 4

_____________requires that a statement of purpose be obtained from borrowers whose loans are to be greater than $100,000 and that will be secured by margin stock. Loans made for the purpose of purchasing margin stock are subject to additional limitations

A : Regulation U

B : Regulation V

C : . Regulation Z

D : Regulation X

Answer: A

Question 5

______________ should include basic elements designed to understand and mitigate risk. It usually includes: Written program Compliance-related policies and procedures

A : Tactical Compliance procedure

B : Rank solution

C : Compliance program

D : None of these

Answer: C

Name:	Certified Regulatory Compliance Manager
Exam Code:	CRCM
Certification:	Compliance and Risk Management
Vendor:	American Bankers Association
Total Questions:	465
Last Updated:	May 14, 2024

Download Demo CRCM Dumps

Create Account

Password Recovery

Download Demo CRCM Dumps

Member Login

Create Account

Password Recovery

CRCM Practice Online