Free American College CRCM Demo Questions

Question #1 (Topic: Demo Questions)

What is the primary purpose of the Bank Secrecy Act (BSA)?

A.

To regulate mortgage interest rates

B.

To prevent and detect money laundering and financial crimes

C.

To establish bank employee salaries

D.

To regulate consumer loan payments

Correct Answer: B

Question #2 (Topic: Demo Questions)

Which regulation implements the Equal Credit Opportunity Act (ECOA)?

A.

Regulation Z

B.

Regulation E

C.

Regulation B

D.

Regulation X

Correct Answer: C

Question #3 (Topic: Demo Questions)

What is the main purpose of the Truth in Lending Act (TILA)?

A.

To protect consumers through disclosure of credit terms and costs

B.

To regulate bank employee benefits

C.

To establish deposit insurance requirements

D.

To prevent identity theft

Correct Answer: A

Question #4 (Topic: Demo Questions)

Which federal law regulates the accuracy, fairness, and privacy of consumer credit information?

A.

Community Reinvestment Act

B.

Fair Credit Reporting Act

C.

Bank Secrecy Act

D.

Truth in Savings Act

Correct Answer: B

Question #5 (Topic: Demo Questions)

What is the primary objective of the Community Reinvestment Act (CRA)?

A.

To regulate credit card interest rates

B.

To prevent money laundering

C.

To encourage banks to meet the credit needs of their communities

D.

To establish minimum bank capital requirements

Certified Regulatory Compliance Manager CRCM CRCM Exam Questions

Correct Answer: B

Correct Answer: C

Correct Answer: A

Correct Answer: B

Correct Answer: C