Exam 1: Certified Regulatory Compliance Manager

A bank does not know all of the specific information to be disclosed on the lease at the time of the consummation. What may the bank do after attempting to obtain the information?

In a review of a bank's compliance with the Regulation O overdraft provisions, what should the compliance officer do?

Below mentioned list shows the significant risks of _______________. Borrowers with cash-flow difficulties Borrowers with no lower-cost credit alternatives Minimal analysis of borrower's ability to repay the loan Minimal review of borrower's credit history Credit is usually unsecured

Information reports must include which of the following details?

Which of the following countries are currently subject to the Office of Foreign Assets Control Regulations?

What obligation does a bank have to disclose a covered CRA agreement 40 months after it terminates?

Which of the following sets of policies or procedures is NOT a requirement of a security program?

On which of the following loans does First Savings Bank NOT have to provide a 1098-E (Student Loan Interest) report?

In which of the following cases is a branch closing notice required?

Time to bring action against a Reserve Bank:

James Walker DBA Walker Enterprises has been a customer of the bank for one month. The company told the bank that it would regularly make deposits in excess of $10,000 because it operates several laundromats in the city. The bank performed a background check on the company before opening the account. For its first 30 days, the company made 12 large cash deposits. Can the bank exempt this company now? Why or why not?

If a bank receives a request for financial disclosure, how may the bank fulfill this request?

Of the following actions, which one is NOT recommended by the OCC's advisory letter as a necessary tool of management oversight of insurance and annuity sales?

Which one of the following types of credit may be extended in Requirements case-12 CFR 221.3, 221.7:

What is the longest time after board approval that a bank can approve a line of credit for an executive officer?

Bank B is a correspondent of Bank A. Which of the following must be included in Bank A's calculation of credit exposure to Bank B?

____________ is any company of which the bank is a subsidiary or any other subsidiary of the same company of which the bank is a subsidiary.

Under the Interagency Statement on Retail Sales of Nondeposit Investment Products what disclosure must the bank's investment sales representative make to the customer?

Federal regulations define special-purpose credit-12 CFR 202.8 to include:

The maximum amount of credit that a bank may extend to all of its insiders is known as the ______________and is equal to 100 percent of its unimpaired capital and surplus.