IFPUG CRCM Actual Free Exam Questions & Community Discussion
Williams National Bank has its home office in New York State; however, it has branches in NebraskA. The federal banking agencies most recent host state loanto-deposit publication lists the loan-to-deposit ratio for Nebraska as 78 percent. For Williams Bank to pass the loan-to-deposit screen of the Reigle-Neal Act, what must its loan-to-deposit ratio be for Nebraska?
Correct Answer: C
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Which of the following loans is clearly NOT subject to the IRS mortgage interest reporting requirement?
Correct Answer: C
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Under the Interagency Statement on Retail Sales of Nondeposit Investment Products,
what may a bank teller do?
what may a bank teller do?
Correct Answer: A
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The banking agencies issued two guidances to caution depository institutions about risks involved in funding non-depository lenders that engage in predatory lending. Predatory and abusive practices include:
Correct Answer: A,C
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Mrs. Evans, a customer of First National Bank, deposits $15,000 in cash to her account.
During the transaction, Mrs. Evans explains that she received the money in the mail from
her sister in Europe. What responsibility does the bank have?
During the transaction, Mrs. Evans explains that she received the money in the mail from
her sister in Europe. What responsibility does the bank have?
Correct Answer: C
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When returning items to a Reserve Bank, the paying and returning banks:
Correct Answer: A,B,D
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Under content of disclosures long term disclosures may include the following, as applicable EXCLUDING:
Correct Answer: C
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As an alternative to providing a periodic statement, a financial institution holding payroll card accounts may make available:
Correct Answer: C,D
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If the returned check is an electronic item that is not a representation of a , Reserve Banks will indemnify a bank to which the check is returned if the bank incurs losses as a result of indemnities the bank would be required to make under Regulation CC in
connection with a substitute check later created from the returned check. A Reserve Bank will not be liable, however, if the loss could be attributed to a lack of good faith or failure to exercise ordinary care on the part of any person who handled the item.
connection with a substitute check later created from the returned check. A Reserve Bank will not be liable, however, if the loss could be attributed to a lack of good faith or failure to exercise ordinary care on the part of any person who handled the item.
Correct Answer: D
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By presentation or transmission of an item a Reserve Bank warrants to a subsequent collecting bank and paying bank that:
Correct Answer: D
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A compliance professional is a member of the task force studying how the bank can reduce customer complaints about
holding deposits. One proposed solution involves purchasing an expensive system that will reduce the number of holds placed by evaluating the customer's history and relationship with the bank. Which of the following roles is MOST important for the compliance professional on the task force?
holding deposits. One proposed solution involves purchasing an expensive system that will reduce the number of holds placed by evaluating the customer's history and relationship with the bank. Which of the following roles is MOST important for the compliance professional on the task force?
Correct Answer: A
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If a bank makes a loan that is in compliance with Regulation U, what will be the status of the loan at its consummation?
Correct Answer: D
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In a review of a bank's compliance with the Regulation O overdraft provisions, what should the compliance officer do?
Correct Answer: C
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Which of the following is NOT a written record the bank should retain in complying with the Bank Bribery Act?
Correct Answer: C
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