Certified Regulatory Compliance Manager CRCM (CRCM) - American College Actual Exam Questions
Last updated on April 11, 2026
A financial institution may provide a customer with a short form initial notice at the same time as it delivers an opt-notice. The short form notice must:
Be clear and conspicuous
State that a privacy notice is available on request
Explain a reasonable means by which the consumer may obtain that notice Reasonable
May be disclosed to the affiliates
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A compliance officer is constructing a review of a transaction in which M, a deposit account customer, used cash to purchase travelers’ checks in an amount of $4,000. The compliance officer must determine compliance with financial recordkeeping and currency reporting regulations. Which of the following pieces of information must be part of the bank’s records for this transaction?
M’s date of birth
M’s deposit account number
The serial numbers of the travelers’ checks purchased
The name of the branch where the transaction occurred
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Of the following types of data, which one is NOT required to be reported for each application for an originated loan subject to Regulation C?
Purpose of the loan
Race, ethnicity, and sex of the applicant
Type of action taken and the date
The interest rate on the loan
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Which of the following is NOT a corporate practice required of bank holding companies?
Each bank subsidiary must file a notice with the Federal Reserve before offering a new product.
Each bank subsidiary must conduct its operations in a safe and sound manner.
Each bank subsidiary must be insured by the FDIC.
Each bank subsidiary must file a notice with the Federal Reserve before purchasing any of its own securities.
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A sender and any prior collecting banks grant a security interest to the sender’s administrative Reserve Bank in all of their respective assets in the possession of the Reserve Bank to secure any of their obligations to the Reserve Bank. This security interest attaches when any warranty is breached or any obligation to the Reserve Bank is incurred. The Reserve Bank may take any action under applicable law to enforce its security interest; including exercising its right to set off amounts against any funds it holds. This situation holds true when:
Item is sent to a Reserve Bank
Reserve Bank recovers
Bank makes for a substitute check
Sender identifies liability to Reserve Bank
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