CMCP LATEST 2026 STUDY GUIDE QUESTIONS AND
SOLUTIONS GRADED A+
✔✔What is the Race of Co-Applicant or Co-borrower data field group? - ✔✔Eight fields
with information on a co-applicant's or co-borrower's race.
✔✔What does the term 'completeness' refer to in relation to the LAR? - ✔✔Ensuring all
reportable applications are included and reported.
✔✔What action can examiners take if applications are missing from the LAR? -
✔✔Direct the lender to correct and resubmit the LAR.
✔✔What is the purpose of testing for completeness in the LAR? - ✔✔To ensure all
reportable applications are included.
✔✔How many FIG fields are in the Race of Applicant or Borrower data field group? -
✔✔Eight.
✔✔How many FIG fields are in the Race of Co-Applicant or Co-borrower data field
group? - ✔✔Eight.
✔✔What is the range of FIG Data Field Numbers for the Race of Applicant or Borrower
data field group? - ✔✔33-40.
✔✔What is the range of FIG Data Field Numbers for the Race of Co-Applicant or Co-
borrower data field group? - ✔✔41-48.
✔✔What is the purpose of the Race of Applicant or Borrower data field group? - ✔✔To
provide information on an applicant's or borrower's race.
✔✔What is the purpose of the Race of Co-Applicant or Co-borrower data field group? -
✔✔To provide information on a co-applicant's or co-borrower's race.
✔✔What is the consequence of missing reportable applications in the LAR? -
✔✔Examiners can direct the lender to correct and resubmit the LAR.
✔✔What is HMDA CMS? - ✔✔A system for monitoring HMDA data accuracy.
✔✔Why should monitoring data integrity be sustainable? - ✔✔To ensure continuous
accuracy of HMDA data.
✔✔When should HMDA data be reviewed and scrubbed? - ✔✔Throughout the year, not
just at the end.
, ✔✔What should be customized in the monitoring process? - ✔✔Based on institution
size and operations.
✔✔What should be done if errors are identified? - ✔✔Identify root cause and make
corrections.
✔✔What are examples of operational controls? - ✔✔Policies, procedures, systems,
training, monitoring.
✔✔What should be included in data integrity monitoring? - ✔✔Manual and systemic file
reviews.
✔✔What verifications should be completed before LAR submission? - ✔✔Data
reconciliation, HMDA Platform edits.
✔✔What should be verified for loans sold and purchaser codes? - ✔✔Accuracy of
codes and verification of loans sold.
✔✔What should be verified for calculated fields? - ✔✔Accuracy of calculations in HMDA
data.
✔✔What should be analyzed in lending summary analysis? - ✔✔Summary of lending
activities for accuracy.
✔✔What should be checked for outliers and logic? - ✔✔Identify unusual or illogical data
points.
✔✔What should be done in transactional testing? - ✔✔Testing specific transactions for
accuracy.
✔✔What should be tested in omissions testing? - ✔✔Checking for missing or omitted
data.
✔✔What is data reconciliation? - ✔✔Process of comparing applications on LAR to LOS
files.
✔✔What are HMDA Platform edits? - ✔✔Checks run on data before submitting LAR.
✔✔Why should institutions run edits periodically? - ✔✔To have time for corrections and
adjustments.
✔✔What is the purpose of verifying loans sold and purchaser codes? - ✔✔To ensure
accurate reporting.
SOLUTIONS GRADED A+
✔✔What is the Race of Co-Applicant or Co-borrower data field group? - ✔✔Eight fields
with information on a co-applicant's or co-borrower's race.
✔✔What does the term 'completeness' refer to in relation to the LAR? - ✔✔Ensuring all
reportable applications are included and reported.
✔✔What action can examiners take if applications are missing from the LAR? -
✔✔Direct the lender to correct and resubmit the LAR.
✔✔What is the purpose of testing for completeness in the LAR? - ✔✔To ensure all
reportable applications are included.
✔✔How many FIG fields are in the Race of Applicant or Borrower data field group? -
✔✔Eight.
✔✔How many FIG fields are in the Race of Co-Applicant or Co-borrower data field
group? - ✔✔Eight.
✔✔What is the range of FIG Data Field Numbers for the Race of Applicant or Borrower
data field group? - ✔✔33-40.
✔✔What is the range of FIG Data Field Numbers for the Race of Co-Applicant or Co-
borrower data field group? - ✔✔41-48.
✔✔What is the purpose of the Race of Applicant or Borrower data field group? - ✔✔To
provide information on an applicant's or borrower's race.
✔✔What is the purpose of the Race of Co-Applicant or Co-borrower data field group? -
✔✔To provide information on a co-applicant's or co-borrower's race.
✔✔What is the consequence of missing reportable applications in the LAR? -
✔✔Examiners can direct the lender to correct and resubmit the LAR.
✔✔What is HMDA CMS? - ✔✔A system for monitoring HMDA data accuracy.
✔✔Why should monitoring data integrity be sustainable? - ✔✔To ensure continuous
accuracy of HMDA data.
✔✔When should HMDA data be reviewed and scrubbed? - ✔✔Throughout the year, not
just at the end.
, ✔✔What should be customized in the monitoring process? - ✔✔Based on institution
size and operations.
✔✔What should be done if errors are identified? - ✔✔Identify root cause and make
corrections.
✔✔What are examples of operational controls? - ✔✔Policies, procedures, systems,
training, monitoring.
✔✔What should be included in data integrity monitoring? - ✔✔Manual and systemic file
reviews.
✔✔What verifications should be completed before LAR submission? - ✔✔Data
reconciliation, HMDA Platform edits.
✔✔What should be verified for loans sold and purchaser codes? - ✔✔Accuracy of
codes and verification of loans sold.
✔✔What should be verified for calculated fields? - ✔✔Accuracy of calculations in HMDA
data.
✔✔What should be analyzed in lending summary analysis? - ✔✔Summary of lending
activities for accuracy.
✔✔What should be checked for outliers and logic? - ✔✔Identify unusual or illogical data
points.
✔✔What should be done in transactional testing? - ✔✔Testing specific transactions for
accuracy.
✔✔What should be tested in omissions testing? - ✔✔Checking for missing or omitted
data.
✔✔What is data reconciliation? - ✔✔Process of comparing applications on LAR to LOS
files.
✔✔What are HMDA Platform edits? - ✔✔Checks run on data before submitting LAR.
✔✔Why should institutions run edits periodically? - ✔✔To have time for corrections and
adjustments.
✔✔What is the purpose of verifying loans sold and purchaser codes? - ✔✔To ensure
accurate reporting.
