NCRM CERTIFICATION EXAM REVIEW QUESTIONS AND ANSWERS, GRA| LATEST UPDATES 2024/25 APPROVED| DED A+

1 NCRM CERTIFICATION EXAM REVIEW QUESTIO NS AND ANSWERS , GRADED A+ The NCUA exam is considered a ______ focused exam to meet its statutory obligation to oversee FICU's - ✅✅ -Risk based exam What is the NCUA rating system called? - ✅✅ -CAMELS What does CAMELS stand for? - ✅✅ -Capital adequacy Asset quality Management Earnings Liquidity Sensitivity to market risk When does the new CAMELS rating go into effect? - ✅✅ -April 1, 2022 The CAMELS rating is used for evaluating the soundness of CU's, the degree of risk to the National Credit Union Share Insurance and to identify those credit unions needing additional supervisory attention. - ✅✅ -True What is the rating scale for the CAMELS - ✅✅ -1 -5 What is considered higher risk during an examination? - ✅✅ -New products and services. High risk members (Hemp, Money Service Business) and previous examination findings what three things must each NCUA examination include? - ✅✅ -5300 call repor t, supervisory committee audit and compliance with BSA It is extremely important when designing and implementing a risk management program, to design the program around the size, scope and complexity of the organization - ✅✅ -True Risk Impact - The cost o r disruption experience by the organization should a risk occur. T/F - ✅✅ -true Risk programs should take a silo approach - ✅✅ -False