IFPUG CRCM Actual Free Exam Questions & Community Discussion

Exam Code/Number: CRCM
Exam Name/Title: CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM)
Certification Provider: IFPUG
Corresponding Certification: IFPUG Certifications

Exam Questions: 463
Updated On: Jun 26, 2026

Question #15

Predatory lending practices can adversely affect:

A. Equity shipping

B. Loan quality control reviews

C. Truth in Lending Act

D. A bank's CRA rating

Discussion 0

Correct Answer: D Vote an answer

Question #16

What should a bank's Bank Secrecy Act compliance program include?

A. The one-year record retention requirements

B. A list of types of loans covered by the Act

C. Designation of individuals responsible for day-to-day compliance

D. All lobby notice requirements

Discussion 0

Correct Answer: C Vote an answer

Question #17

In which of the following circumstances is it LEAST appropriate for a bank to file a SAR regarding Internet activity?

A. Bank determines that one of its customers is the victim of identity theft

B. Bank discovers that someone has hacked into its data system in order to obtain confidential customer data

C. Bank determines through its transaction-monitoring program that a customer is making electronic transfers between his own checking and savings accounts that are just below the $10,000 reporting level

D. Bank becomes aware of identity theft of its domain name (i.e., another entity selects a name similar to the bank's in order to confuse customers and obtain confidential financial information)

Discussion 0

Correct Answer: C Vote an answer

Question #18

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?

A. Auditing systems and controls

B. Hiring competent personnel

C. Establishing a separate insurance agency

D. Requiring a member of management to actively oversee this function

Discussion 0

Correct Answer: C Vote an answer

Question #19

There is no error in an error in EFT when there is situation as:

A. A request for duplicate copies of statements

B. The reversal of a direct deposit made in error is not considered an unauthorized EFT if the deposit was made to the wrong customer's account, a duplicate was made to the customer's account, or a credit was made in the wrong amount

C. The failure to receive a receipt from an electronic terminal when the transaction amount is $25 or more

D. A returning request for information for tax or recordkeeping purposes

Discussion 0

Correct Answer: A,B Vote an answer

Question #20

Which of the following is a high-net-worth customer?

A. A couple with a net worth of $10 million

B. An individual with $5 million in assets, including her home

C. An individual who is not acting with his spouse, with $1 million in assets and another $3 million in community property

D. A corporation with $15 million in revenues

Discussion 0

Correct Answer: A Vote an answer

Question #21

To be effective, compliance risk management professionals must design a framework to ensure that bank management understands the risks and the steps that must be taken to mitigate them. The many roles compliance professionals fill incorporate risk management aspects including:

A. Coordinating regulatory exams to explain risks to examiners

B. Tracking regulatory proposals and final rules to understand new risks

C. Overseeing compliance training targeting higher risk areas

D. All of these

Discussion 0

Correct Answer: D Vote an answer

Question #22

A recent compliance review revealed that several branch officers are using obsolete loan
application forms, which do not include disclosures related to credit insurance sales.
Which of the following steps should be taken FIRST?

A. Determine which customers were affected and take corrective action.

B. Determine whether the branches use a separate document for required credit insurance sales disclosure.

C. Instruct the branch to destroy all obsolete forms and immediately begin using the current versions.

D. Contact the bank's primary regulator to determine the best course of action.

Discussion 0

Correct Answer: B Vote an answer

Question #23

Any of the following foreign correspondents for which the Federal Reserve maintains an account EXCEPT:

A. A foreign state

B. A foreign correspondent or agency

C. A foreign banker's Lessee

D. A foreign bank

Discussion 0

Correct Answer: C Vote an answer

Question #24

By which date must an interest reporting statement be sent to the borrower's last known address?

A. January 31 of the year following the year the interest is paid

B. January 15 of the year following the year the interest is paid

C. March 1 of the year following the year the interest is paid

D. February 28 of the year following the year the interest is paid

Discussion 0

Correct Answer: A Vote an answer

Question #25

Government credit

A. It is credit extended to governments or government agencies, instrumentalities, or subdivisions

B. It has no finance charge

C. It has Records retention requirements

D. Only the general rule against discrimination applies to government credit

Discussion 0

Correct Answer: A,D Vote an answer

Question #26

In which of the following activities may a bank engage and NOT be considered a municipal securities dealer?

A. Underwriting municipal securities

B. Buying securities for the bank's own account

C. Providing advice to customers regarding the purchase of municipal securities

D. Engaging in research and giving investment advice regarding municipal securities

Discussion 0

Correct Answer: B Vote an answer

Question #27

A routine review of account records reveals that suspicious activity involving foreign currency has occurred in the account of one of the bank's directors. Which of the following actions should be taken FIRST?

A. The bank should file a CTR, checking the box that indicates the report is for suspicious activity.

B. The bank's president should meet with the affected director to discuss the account activity.

C. The bank's board of directors should discuss the account activity without the affected director being present.

D. A SAR should be fileD.

Discussion 0

Correct Answer: D Vote an answer

Question #28

What is the maximum number of government securities transactions a bank may have and still remain exempt from the Government Securities Act?

A. 250 per year

B. 400 per year

C. 499 per year

D. 100 per year

Discussion 0

Correct Answer: C Vote an answer

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