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1
CRCM Final Test Questions and Answers (100%
Correct Answers) Already Graded A+
Completing the annual report of indebtedness to correspondent banks.
Reg O: Ans: Instructions to executive officers regarding their reporting
obligations under Regulation O should NOT include ____________.
© 2026 Assignment Expert
The account will be credited promptly.
Reg E: Ans: A customer who has preauthorized transfers made on the
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15th of each month to the utility company, sent written notification to
the bank on the 5th of the current month that he wanted to discontinue
the automatic transfers. The bank received the customer's notification
on the 7th. On the 20th of the month, the customer telephoned to state
that his account balance indicated that payment was NOT stopped.
The bank should advise the customer that ____________.
Currency Transaction Reports CRTs
AML not BSA Ans: When reviewing exemptions for continued eligibility
under the Bank Secrecy Act, a review of which of the following is LEAST
helpful?
1099A
IRS Regs Ans: When conducting an audit of IRS tax compliance
procedures, you should select a sample of which of the following forms?
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Handicap accessibility to property secured by a first mortgage loan
made by the bank.
Fair Housing Act: Ans: In monitoring a bank's compliance with the federal
Fair Housing Act, it is LEAST relevant to review ____________.
Encourage banks to help meet the credit needs of their local
community.
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CRA Ans: One purpose of CRA Regulations is to ____________.
update the employee manual
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not develop a new policy or revise internal monitoring schedules in this
area.
Compliance Management Ans: A recent regulatory change increased
the amount of FDIC insurance coverage for individual depositors. The
compliance manager should FIRST _____________.
Loans to small farms
CRA rules Ans: Under CRA rules, banks other than small banks must report
which of the following types of loans?
Have a loan-to-deposit ratio in each state that equals or exceeds 50% of
the loan-to-deposit ratio of each host state.
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3
Riegle-Neal Ans: National Bank is headquartered in Colorado and has
branches in Nebraska and Wyoming that it acquired two years ago.
Each year the federal regulatory agencies publish the host state loan-to-
deposit ratios for each state, which are used to determine if banks with
interstate branches are in compliance with the Riegle-Neal Interstate
Banking and Branching Efficiency Act of 1994. To comply with the Act,
the National Bank must:
ID the consumer protection regulatory provisions on liability and error
resolution.
© 2026 Assignment Expert
Compliance Management Ans: The bank is beginning e-banking and
wants to deliver a full range of consumer electronic services. The
compliance manager is a member of the project team. Which of the
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following functions is MOST appropriate for the compliance manager
during the INITIAL stages of this project?
The fair market value of the prize is reportable on Form 1099 MISC
IRS regs Ans: Which of the following statements describes a bank's
reporting requirements when it awards a big-screen television, valued at
$800, to a customer as a grand-opening prize?
Perform a root cause analysis
Compliance Management Ans: An internal audit reveals APR
calculation issues. In responding, you should FIRST ____________.
Require verification of the identity of each customer.
1
CRCM Final Test Questions and Answers (100%
Correct Answers) Already Graded A+
Completing the annual report of indebtedness to correspondent banks.
Reg O: Ans: Instructions to executive officers regarding their reporting
obligations under Regulation O should NOT include ____________.
© 2026 Assignment Expert
The account will be credited promptly.
Reg E: Ans: A customer who has preauthorized transfers made on the
Guru01 - Stuvia
15th of each month to the utility company, sent written notification to
the bank on the 5th of the current month that he wanted to discontinue
the automatic transfers. The bank received the customer's notification
on the 7th. On the 20th of the month, the customer telephoned to state
that his account balance indicated that payment was NOT stopped.
The bank should advise the customer that ____________.
Currency Transaction Reports CRTs
AML not BSA Ans: When reviewing exemptions for continued eligibility
under the Bank Secrecy Act, a review of which of the following is LEAST
helpful?
1099A
IRS Regs Ans: When conducting an audit of IRS tax compliance
procedures, you should select a sample of which of the following forms?
,For Expert help and assignment handling,
2
Handicap accessibility to property secured by a first mortgage loan
made by the bank.
Fair Housing Act: Ans: In monitoring a bank's compliance with the federal
Fair Housing Act, it is LEAST relevant to review ____________.
Encourage banks to help meet the credit needs of their local
community.
© 2026 Assignment Expert
CRA Ans: One purpose of CRA Regulations is to ____________.
update the employee manual
Guru01 - Stuvia
not develop a new policy or revise internal monitoring schedules in this
area.
Compliance Management Ans: A recent regulatory change increased
the amount of FDIC insurance coverage for individual depositors. The
compliance manager should FIRST _____________.
Loans to small farms
CRA rules Ans: Under CRA rules, banks other than small banks must report
which of the following types of loans?
Have a loan-to-deposit ratio in each state that equals or exceeds 50% of
the loan-to-deposit ratio of each host state.
, For Expert help and assignment handling,
3
Riegle-Neal Ans: National Bank is headquartered in Colorado and has
branches in Nebraska and Wyoming that it acquired two years ago.
Each year the federal regulatory agencies publish the host state loan-to-
deposit ratios for each state, which are used to determine if banks with
interstate branches are in compliance with the Riegle-Neal Interstate
Banking and Branching Efficiency Act of 1994. To comply with the Act,
the National Bank must:
ID the consumer protection regulatory provisions on liability and error
resolution.
© 2026 Assignment Expert
Compliance Management Ans: The bank is beginning e-banking and
wants to deliver a full range of consumer electronic services. The
compliance manager is a member of the project team. Which of the
Guru01 - Stuvia
following functions is MOST appropriate for the compliance manager
during the INITIAL stages of this project?
The fair market value of the prize is reportable on Form 1099 MISC
IRS regs Ans: Which of the following statements describes a bank's
reporting requirements when it awards a big-screen television, valued at
$800, to a customer as a grand-opening prize?
Perform a root cause analysis
Compliance Management Ans: An internal audit reveals APR
calculation issues. In responding, you should FIRST ____________.
Require verification of the identity of each customer.
