Free Practice American Bankers Association CRCM Exam Questions 2025

Stay ahead with 100% Free Certified Regulatory Compliance Manager CRCM Dumps Practice Questions

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Total 465 Questions | Updated On: Apr 21, 2025

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Question 1

This is a loan term or an arrangement that modifies a loan term under which a bank agrees to suspend all or part of a customer’s loan obligation on the occurrence of a specified event. It May be a part of the loan itself or a separate agreement.Does not include a loan payment deferral arrangement where the borrower or the bank can unilaterally defer a payment.What is it?

A : Debt suspension agreement (DSA)

B : Anti-dying

C : Debt cancellation contract (DCC)

D : ALLL

Answer: A

Question 2

Which of the following interest-bearing accounts is EXEMPT from Form 1099 annual information reporting requirements under IRS regulations?

A : Time certificates of deposit

B : Money market deposit accounts

C : Individual retirement accounts

D : Negotiable order of withdrawal accounts

Answer: C

Question 3

Credit scoring systems:

A : Evaluate an applicant’s creditworthiness mechanically, based on key attributes of the applicant and aspects of the transaction, and determine, alone or in conjunction with an evaluation of additional information about the applicant, whether an applicant is deemed creditworthy

B : Are evaluated by regulatory agencies to determine whether they are empirically derived and statistically sound and to examine: The bank’s policies on the use of the credit scoring system Training of bank employees on the use of the system The number of high-side and low-side overrides of the system

C : Both of these

D : None of these

Answer: C

Question 4

Which of the following is an accurate statement according to the requirements of the customer identification program regulations?

A : A bank must always require documentary verification of a customer’s identification

B : A bank may waive any part of the CIP requirements if senior management approves the waiver and there is a good cause

C : A physical address or a post office box is acceptable for any new customer

D : The bank’s CIP program must enable it to form a reasonable belief about the identity of the person

Answer: D

Question 5

By presentation or transmission of an item a Reserve Bank warrants to a subsequent collecting bank

and paying bank that:

A : The Reserve Bank has good title to the item

B : The item has not been altered

C : The item bears all endorsements applied by parties that have previously handled the item in paperor electronic form

D : All of these

Answer: D

Page: 1 / 93

Total 465 Questions | Updated On: Apr 21, 2025

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