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Vendor: American Bankers Association
Exam Code: CRCM
Exam Name: Certified Regulatory Compliance Manager CRCM
Certification: American Bankers Association Certifications
Total Questions: 463 Q&A
Updated on:
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Which of the following should be done during research and interpreting regulations Compliance professionals in mitigating compliance risk?
A. Track regulatory proposals
B. Implementing final regulatory rules
C. Understanding the business units' operating environment and risk tolerance
D. Ranking solutions as high, moderate and low risk
Federal regulations define special-purpose credit-12 CFR 202.8 to include:
A. Any credit assistance program authorized by federal or state law for the benefit of an economically disadvantaged class of persons
B. Any credit assistance program offered by a not-for-profit organization for the benefit of its members or for the benefit of an economically disadvantaged class of person
C. A special-purpose credit program must not discriminate on a prohibited basis; however, it can require its participants to share a particular characteristic (such as race or sex) provided the requirement was not established to evade the requirements of the ECOA. If the participants must share a common characteristic, the bank may collect information on that characteristic to determine eligibility
D. If the program includes financial need as a criterion, the creditor can never request and consider information regarding the applicant
Martin Taylor, a loan officer at First National Bank, is a long-time friend of Bill Evans, a local homebuilder. Bill would like a line of credit at the bank and discusses the potential loan with Martin. During the discussion, Martin expresses his desire to build a house one day and Bill offers to build him one "at cost plus 5 percent." If Martin accepts Bill's offer, can he continue to act as his loan officer?
A. No. The value of the gift is too great.
B. Yes, if Martin discloses this fact to the bank.
C. Yes, if Martin does not let the discount on the house affect his decision making process.
D. Yes, if the bank's code of conduct allows such activity.
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