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Sample CRCM Exam Questions

The following questions are representative of the types of questions you will find on the CRCM (Certified Regulatory Compliance Manager) exam.

1.   When evaluating a bank’s Information Security Program for compliance with regulatory standards, an auditor should review:

a.) Whether the program is designed to restrict consumer access to account data
b.) Whether the program is designed to prevent inadvertent disclosure of protected health information to an affiliated entity
c.) Whether the program is designed to ensure the security and confidentiality of customer information
d.)Whether the program is designed to limit the access to customer information to essential personnel

2.  A recent regulatory change increased the amount of FDIC insurance coverage for individual depositors. The compliance manager should FIRST _____________.

a.) Develop a new policy in this area
b.) Maintain the current program without change
c.) Update the content of employee training material
d.) Revise the internal monitoring schedule in this area

3.  A data integrity review for CRA and HMDA data submissions should include which of the following?

a.) Analysis of loans made by geography
b.) Verification of key data field accuracy
c.) Analysis of applications by race, sex, and income
d.) Verification that loan denials were denied in accordance with bank loan policy

4.   If the bank does not obtain the TIN from the deposit account holder when the account is opened, the Bank Secrecy Act requires that the bank ____________.

a.) Obtain the TIN within a reasonable time after account opening
b.) Begin 28% withholding of interest
c.) Close the account after 30 days
d.) Notify the Treasury Department of affected account information

5.  On February 1, the bank board of directors approved the closing of one of its branches effective April 1 due to its continued unprofitability. Customers of the bank will be notified of the planned closing. The bank is at risk of violating which of the following regulatory requirements?

a.) Adverse action notification
b.) Analysis of community impact
c.) Timely notice to the appropriate federal regulatory agency
d.) Posted notification of closing on the premises of the branch to be closed

Answer Key

1. c
2. c
3. b
4. a
5. c

​Questions? Contact ABA Certifications for more information.


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