To be effective, compliance risk management professionals must design a framework to ensure that bankmanagement u ...


They also embrace the concept of risk based compliance management. They expect compliancemanagement to be tailor ...


A compliance professional’s responsibilities include all of the following EXCEPT:


______________ should include basic elements designed to understand and mitigate risk. It usuallyincludes:Written ...


In a compliance program, tactical compliance procedures should be integrated into business lineprocedures, such a ...


Which of the following should be done during research and interpreting regulations Complianceprofessionals in mit ...


The compliance program should address plans to verify adherence to applicable regulations through:


There is no established template for documenting compliance risk. Each institution should develop a riskassessmen ...


In Compliance regulation and risk assessment key performance indicators usually include:


Compliance professionals have a duty to keep senior management and the board apprised of the state ofcompliance w ...


For example on a 0 5 scale: The risk trend shows the direction of risk and probable change to risk over the n ...


After a compliance officer develops a base of knowledge of regulations, he or she must begin the art of applying ...


In the mid 1980s a movement began among the federal supervisory agencies to produce a uniform ARM regulation. I ...


Which one of the following is out of the FIRREA penalties included in the enforcement section of Adjusted Mortga ...


In Requirements section of Adjusted Mortgage Regulation (12 CFR 34), for loans subject to both the OCC ARM regul ...


Subprime borrowers are those with weakened credit histories or reduced repayment capacity. Loans to these borrow ...


The banking agencies issued two guidances to caution depository institutions about risks involved in funding non ...


Under Interagency Guidance on Subprime Lending (1999) lending policy must:


The purpose of guidelines for National Banks to Guard against Predatory and Abusive Lending Practices AL 2003 ...


Which of the following usually comes under the heading of abusive lending.


______________ is frequent refinancing that do not benefit the borrower. This practice can result in borrower in ...


Guidelines for National Banks to Guard against Predatory and Abusive Lending Practices—AL 2003 2 says th ...


Predatory lending practices can adversely affect:


The purpose of advisory letter in Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loa ...


Examples of unfair practices mentioned in guidelines against Predatory and Abusive Lending includes loan flippin ...


Which of the following are recommended practices in Avoiding Predatory and Abusive Lending Practices in Brokered ...


Below mentioned list shows the significant risks of _______________. Borrowers with cash flow difficulties Borr ...


Banks must maintain an ____________ adequate to absorb estimated credit losses from payday loans. Banks should e ...


Safety and soundness concerns in FDIC Payday Lending Guidance clearly mention that there should be adequate capi ...


Compliance issues related to payday lending are all of the following EXCEPT:


Which of the following comes under the heading of nontraditional mortgage product risks.


In Guidance on Nontraditional Mortgage Product Risks, if the institution has a concentration in a nontraditional ...


If the institution offers both full and reduced documentation loans and there is a pricing premium attached to t ...


Institutions that offer nontraditional mortgage products should make sure they comply with the following, as app ...


Underwriting standards in Subprime Mortgage Lending include:


Below mentioned is the necessary information that should be included in the ___________. Risk of payment shock&m ...


Supervisory review should also be the part of Subprime Mortgage Lending. It should review:


The act limited balloon payments in consumer leases and enabled consumers to compare lease terms with credit ter ...


Content of segregated disclosures in Consumer Leasing Act include all of the following EXCEPT:


In a motor vehicle lease, a mathematical progression showing how the periodic payment is derived, containing the ...


Which one of the following should be included in an early termination notice in case of the termination from con ...


In Consumer Leasing Act Content of non segregated disclosures may be made separately or as part of another docu ...


Under Renegotiations, extensions, and assumptions 12 CFR 213.5; any lease that is renegotiated or extended by l ...


In Advertising 12 CFR 213.7, if a percentage rate is used in an advertisement, it cannot be more prominent than ...


Under Consumer Leasing Act Enforcement 15 USC 1667d section FIRREA penalties include:


_____________ requires that a statement of purpose be obtained from borrowers whose loans are to be greater than ...


An exempted borrower is a member of a national securities exchange or a registered broker or dealer who:


Banks may extend and maintain purpose credit without complying with Regulation U if the credit is extended:


Margin stock includes:


Purpose credit is credit for all of the following EXCEPT:


Under collateral requirements 12CFR 221.7, maximum loan value of margin stock is:


What is actually a Single credit rule 12 CFR 221.3(d).


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


OCC advisory on credit card practice AL 2004 10 in credit card practices covers:


Practice/s addressed in the guidance of OCC advisory on credit card practices AL 2004 10 is/are:


Regulation O both restricts lending to insiders and requires that certain loans to insiders be disclosed. Each b ...


Unless excluded by a board resolution or the bylaws, the following officers will be considered to be executive o ...


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


It is an extension of credit will be deemed to be made to an insider if the proceeds are transferred to the insi ...


Lending restrictions under requirements 12 CFR 215; 12 CFR 337, 12 CFR 349 are all of the following EXCEPT:


The maximum amount of credit that a bank may extend to all of its insiders is known as the ______________and is ...


On a written request from a member of the public, the bank must disclose the names of each of its executive offi ...


Record keeping requirements 12 CFR 215.8 elaborates that:


Debt Cancellation Contracts and Debt Suspension Agreements coverage includes:


This is a loan term or an arrangement that modifies a loan term under which a bank agrees to cancel all or part ...


Short form disclosures are required in advertisements and promotional materials unless the advertisements and p ...


Under content of disclosures long term disclosures may include the following, as applicable EXCLUDING:


Banks must establish and maintain effective risk management and control processes over its DCCs and DSAs, includ ...


The Equal Credit Opportunity Act (ECOA) was enacted in 1974 to prevent discrimination in credit transactions. In ...


Securities credit covers credit subject to Section 7 of the Securities Exchange Act of 1934 or credit by a broke ...


Government credit


An oral or written request for credit made in accordance with the creditor’s procedures for the type of cr ...


Definition of completed application—12 CFR 202.2(f) is:


Requirements—12 CFR 202.2, 202.4, 202.5, 202.6, and 202.13 say that a creditor may not request information ...


________________is defined as every aspect of an applicant’s dealing with a creditor, beginning with infor ...


In Processing and evaluating applications—12 CFR 202.6, protected income part is also under discussion. Wh ...


Credit scoring systems:


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


These are the definitions of _____________: The refusal to grant credit in substantially the amount or on substa ...


FDIC guidance lists three requirements to ensure compliance with spousal signature rules include all of the foll ...


Content of notification to credit consumers must contain:


A bank may engage in voluntary self testing and self correction of its compliance with Regulation


Creditors must retain for 25 months after the date that an offer of credit is made (12 months for business appli ...


According to FDIC Guidance on Spousal Signature Provisions, if the creditor requires the spouse’s signatur ...


A consumer reporting agency may furnish a consumer report


Legislation was recently enacted to reform consumer real estate protection laws, and the bank will now have to c ...


A bank’s president would like to begin offering a new home equity line of credit product within two weeks. ...


A bank has a large mortgage department as well as a high HMDA error rate. An expensive software program could au ...


The federal banking agencies have proposed an amendment to Regulation Z that would require a new early disclosur ...


During a recent compliance examination, regulatory examiners found that the bank was not conducting flood hazard ...


During a recent compliance examination, regulators cited the bank for violations of various marketing regulation ...


When developing a training plan for commercial lenders, which of the following regulations is least important to ...


A compliance professional is a member of the task force studying how the bank can reduce customer complaints abo ...


Of the following loans made by a national bank, which loan is NOT covered by the OCC ARM regulation.


First National Bank is a member of a multibank holding company. The bank makes ARM loans and occasionally purcha ...


On which of the following adjustable rate loans must the bank use an index beyond its control.


ABC National Bank regularly purchases mortgage loans from ACME Mortgage Company, a local mortgage broker. ACME p ...


The OCC recommends all but one of the following actions to help prevent a national bank’s purchasing or ac ...


Second State Bank offers a mortgage product that involves simultaneous second lien loans. These include a first ...


According to the 2007 interagency statement on subprime mortgage lending, what should an institution offering mo ...


The senior lender at ABC bank would like to make stated income mortgage loans (i.e., loans where the bank does n ...


Under Regulation M, what is a “consumer lease”.


Milton Edwards leased an automobile from First National Bank. The lease contained a provision whereby Milton wou ...


When must disclosures on consumer leasing transactions subject to Regulation M be made.


A bank does not know all of the specific information to be disclosed on the lease at the time of the consummatio ...


What insurance disclosures are required in the lease disclosure statement.


The initial disclosure requires that certain disclosures relating to the termination of a lease be given to the ...


Roberta Milton’s car lease with First National Bank reached its termination on August 1. Roberta and the b ...


First National’s consumer leasing department placed an ad in the local paper that pictured a car with the ...


Records regarding compliance with Regulation M must be kept for how long.


Which of the following statements is true regarding the lessee’s ability to purchase the leased property. ...


With regard to standards for wear and use of leased property, which of the following statements is true.


How is the maximum loan value of margin stock defined.


If a bank makes a loan that is in compliance with Regulation U, what will be the status of the loan at its consu ...


Which of the following is NOT included in the definition of margin stock.


First National Bank has made three loans to Mrs. Elmwood. Two of the loans are regulated credits (they are for t ...


For which of the following must a bank obtain Form FR U 1 when a loan is in excess of $100,000.


First National Bank made the following loans to Mr. James Wilson during the previous calendar year: • Loan ...


First National Bank has made a loan to Mr. Good, secured by margin stock, to purchase margin stock. He trades st ...


Is the renewal of a loan considered to be a new extension of credit for purposes of valuing the collateral under ...


Which of the following credit arrangements would most likely be considered a purpose credit because it is indire ...


Under Regulation U, prior to extending credit secured by margin stock for more than $100,000, a national bank mu ...


For purposes of insider lending laws and regulations, what is the definition of the term executive officer. ...


When may a bank pay an overdraft of $5,000 created by an executive officer of the bank.


How may a bank limit the definition of executive officer.


First National Bank has an employee benefit program whereby all bank employees who meet the bank’s credit ...


Which of the following is true regarding extensions of credit to executive officers, directors, and principal sh ...


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


First National Bank would like to adopt a recordkeeping system that complies with the requirements of Regulation ...


Which of the following does an extension of credit NOT include.


Which of the following transactions is subject to the provisions of Regulation O.


Safe National Bank has a variety of consumer lending products. Among them are debt cancellation contracts that a ...


ACME National Bank has a Web site that lists the bank’s products and services. On its consumer loan page i ...


ACME National bank uses telephone solicitations to sell its debt cancellation contracts. The banker explains to ...


Which of the following actions is NOT an adverse action.


Which of the following statements regarding applications is correct.


For what do ECOA and Regulation B extend coverage.


Robin Martin made an individual application to the bank for a car loan. She has just returned to work on a regul ...


Bob Richardson has had three loan applicants this morning: • Heather Smith, age 17, who needs a car loan fo ...


What may a creditor do if an applicant applies for individual unsecured credit.


Cassandra Phillips requested a loan to purchase a boat. She asked for $15,000 at 7.5 percent for seven years. Th ...


What may a creditor do in response to an application for credit from a business with gross revenues of $1 millio ...


What may a creditor do when furnishing credit information.


ABC Bank has an interactive Internet Web site at which it takes consumer credit applications. At the time an app ...


ACME Bank is a state nonmember bank with all of its offices in one state. However, it also has an Internet Web s ...


Hector Martinez is a loan officer in a non community property state. He receives a verbal request for a small b ...


Regulation B defines “elderly” as having attained an age of how many years.


When helping a loan officer determine whether the bank must give a written adverse action notice to a business l ...


Which of the following describes the record retention requirements under Regulation B for a credit application f ...


The Fair Credit Reporting Act (FCRA) became effective in 1971. The purpose of FCRA is to regulate:


Any person in one of the following category can be debt collector:


Unless the debt collector has express permission from the consumer or from a court, the law prohibits communicat ...


Debt collector may not abuse or harass the consumer by:


Debt collectors acquiring location information from a third party:


Which of the following are included in unfair practices during debt practices.


Validation of debt says:


___________ governs the collection of checks and other cash and noncash items and the handling of returned check ...


It is a corporation or a non depository institution that maintains an account with a Reserve Bank


It is an instrument or promise or order to pay money (whether negotiable or non negotiable) sent by a sender and ...


An electronic image of an item together with electronic information describing that item in an approved format w ...


Reserve Banks must issue operating circulars, which, together with Regulation J, govern the details of handling ...


One of the check collection requirements is sending items to Reserve Banks. In this requirement:


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


By sending an item to a Reserve Bank, a sender:


The sender agrees to indemnify each Reserve Bank for:


The sender’s liability for warranties and indemnities that a Reserve Bank makes for a substitute check is ...


The Reserve Bank may recover from the sender the attorneys’ fees if an action is brought against a Reserve ...


A sender and any prior collecting banks grant a security interest to the sender’s administrative Reserve B ...


The Reserve Bank may recover by charging any account on its books maintained by the sender if:


____________ is an agent or a subagent of the owner of an item; agency terminates when it receives payment for a ...


By presentation or transmission of an item a Reserve Bank warrants to a subsequent collecting bank and paying ba ...


Time to bring action against a Reserve Bank:


While Presenting items for payment:


A Reserve Bank may present a noncash item for payment if instructed to do so by the sender and if the:


A ____________ must settle for an item with its administrative bank, whether or not it received the item from th ...


Cash items’ payment proceeds must be available to the Reserve Bank by the latest of:


When returning items to a Reserve Bank, the paying and returning banks:


The liability of paying and returning banks is subject to the following conditions and limitations EXCEPT:


A Reserve Bank makes the following warranties when it handles ___________: • For all items, the Reserve Ban ...


If the returned check is an electronic item that is not a representation of a ___________, Reserve Banks will in ...


Which of the following is/are included in the persons covered under Fedwire transfer coverage.


Transfers involving entries to accounts maintained at two different Reserve Banks are:


The following mentioned points are actually _______________. • Reserve Banks may rely on numbers given in a ...


In Sender’s agreement 12 CFR 210.28 it is clearly mentioned that:


In Receiver’s agreement 12 CFR 210.28 it is clearly mentioned that:


Payment to a beneficiary is made at the earlier of the time when:


Which of the following primary purpose/s were behind the Electronic Fund Transfer Act (EFTA).


Implemented by _______________, EFTA is intended to provide certain rights to individual consumers using EFT pay ...


EFT provides consumers with limitations on liability for unauthorized electronic fund transfers. It includes the ...


__________________ is a transfer that is authorized in advance to occur at substantially regular intervals. Paym ...


Initial disclosure under Electronic funds transfer act includes:


Electronic funds transfers’ requirements say that transfers that vary in amount must be communicated to th ...


It is not required for accounts where the only EFT allowed is a preauthorized transfer to an account. If the acc ...


Under Unauthorized transfers 12 CFR 205.6 prerequisites for consumer liability are all of the following EXCEPT: ...


It must provide in writing to consumer at least 21 days before the effective date of any change in a term or con ...


Which of the following is/are NOT limitations on liability in EFT.


An error in EFT includes any of the following:


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


Following mentioned are the responsibilities of: 1. Must notify the bank, either orally or in writing, of error ...


During a EFT, if the institution determines that no error has occurred or that an error occurred in a manner or ...


The institution need not provisionally credit the consumer’s account if it requires but does not receive w ...


The OCC has determined that a national bank may not assume that, simply because a consumer’s PIN or ATM ca ...


To stop a payment of a preauthorized transfer, consumer must notify the institution or in writing at least:


Payroll card accounts established directly or indirectly by an employer for the purpose of electronically transf ...


As an alternative to providing a periodic statement, a financial institution holding payroll card accounts may m ...


In _______________, Congress enacted restrictions on the way financial institutions disclose information on cust ...


Following institutions comes under the heading of ________________: • Institutions subject to the commodity ...


Consumers are not considered to be the customers if they do not have continuing relationship with the financial ...


Non public personal information under Regulation P includes:


An institution must take steps to determine that information is lawfully made available to the public, including ...


Initial privacy notice 12CFR332.4; 12CFR40.4; 12 CFR 216.4; 12 CFR 573.4 says that:


Annual privacy notices are not required to be given to former customers, including cases where:


A financial institution may provide a customer with a short form initial notice at the same time as it delivers ...


It means a direction by the consumer that the financial institution not discloses nonpublic personal information ...


Country A (a foreign country that is boycotting Country B, another foreign country) has ordered goods from ABC, ...


Issuing Bank, a foreign bank, maintains an account with First National Bank, a U.S. bank. Issuing Bank issues a ...


First National Bank opened a letter of credit in favor of ABC Co., a U.S. company, for ABC’s sale of goods ...


First National Bank, a U.S. bank, is contacted by Manufacturing Company, Inc., a U.S. company, to finance its tr ...


First National Bank advises Country A, a boycotting country, on various U.S. investments. Country A instructs Fi ...


ABC Co. signed a contract to export goods to Country M, a boycotting country. Payment will be made by a letter o ...


ABC Co. signs a contract to export goods to Country G, a boycotting country. Payment will be made by a letter of ...


Which of the following businesses would be eligible to be an exempt person under the requirements of the Bank Se ...


Fastfood, Inc., a nationwide restaurant chain, opened an account at First National Bank last year. Fastfood is m ...


First National Bank is attempting to determine which of the following customers would qualify as exempt persons: ...


James Walker DBA Walker Enterprises has been a customer of the bank for one month. The company told the bank tha ...


First National Bank has several exempt customers. • Alpha is an exempt person because its stock is listed o ...


Mrs. Evans, a customer of First National Bank, deposits $15,000 in cash to her account. During the transaction, ...


For how long must a bank keep records of transactions involving currency in amounts greater than $10,000.


The manager of Main Street branch calls and relates the following information: John Smith purchased a cashier&rs ...


Records that must be retained for deposit accounts include which of the following.


Mammoth Enterprises is a new customer to the bank. It is a wholly owned subsidiary of Mammoth Corporation. Which ...


In April Lillian Redmond, the teller supervisor for First National Bank, discovers five counterfeit $20 bills in ...


Martha Whitmire, the BSA Compliance Officer for First National Bank, is responsible for monitoring the bank&rsqu ...


Bob Jones, president of ACME bank, has had a banking relationship with Linda O’Reilly, a local real estate ...


Which of the following is an accurate statement according to the requirements of the customer identification pro ...


When conducting a records search pursuant to a FinCEN request, what must a bank search.


A bank is conducting due diligence for a foreign correspondent bank account. Which of the following is NOT requi ...


Which of the following transactions requires completion of FinCEN Form 104, a CTR.


On which of the following loans must a bank maintain records under the Bank Secrecy Act.


An individual comes into the bank and makes a $6,000 cash deposit into a checking account. At the same time, the ...


Which of the following is NOT considered an acceptable form of identification for an individual when completing ...


Which of the following customers may be exempted under Phase II of the Bank Secrecy Act.


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


When completing and filing a SAR, what is the bank NOT required to do.


What should a bank’s Bank Secrecy Act compliance program include.


A routine review of account records reveals that suspicious activity involving foreign currency has occurred in ...


A compliance officer is constructing a review of a transaction in which M, a deposit account customer, used cash ...


When all the required information is NOT provided by a person purchasing a cashier’s check with $8,000 in ...


Which of the following is MOST effective in strengthening an anti money laundering program involving cash tra ...


For which of the following is a bank most likely to be in danger of receiving a cease and desist order.


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


What should a bank do when it receives a request from a customer to transfer funds to an individual in Iraq. ...


ACME Bank is a $600 million institution with 15 branches within three counties. Because of its proximity to Mexi ...


State National Bank is a $250 million community bank. It makes a variety of consumer and commercial loans, regul ...


FA presents cash to the bank and seeks to wire it to his spouse, RA, in Cub


Your institution has identified a transaction by an existing depositor that should be blocked under OFAC require ...


Your bank’s president comes back from an industry conference and tells the compliance officer that she att ...


The BSA officer has just been notified by the chief operations officer that, due to a glitch in the bank’s ...


Bank A offers safe deposit services in a vault area that contains a door too narrow for wheelchair passage. The ...


The mortgage lending department of Bank XYZ received some inquiries from potential applicants who are visually i ...


Which of the following activities is permitted under ADA.


Under the ADA, what can an employer do.


Which of the following employment practices is NOT legal under ADA.


Bob’s wife is HIV positive due to a blood transfusion during an appendectomy 15 years ago. She is not yet ...


Roger Jameson is the head of the consumer loan department at First National Bank. He is a regular participant in ...


First National is developing a consumer checking account that can access a line of credit. This is the first tim ...


Martha Smith of First National Bank is attempting to close a large commercial loan to a manufacturing equipment ...


First National Bank owns a data processing company that sells financially related data processing services to va ...


Mills Company, Inc., is a manufacturing company with a working capital line of credit from First National Bank. ...


Which of the following would NOT be acceptable under the Bank Bribery Act and the relevant guidelines.


Which of the following is NOT a written record the bank should retain in complying with the Bank Bribery Act. ...


Harvey Smith is a loan officer at First National Bank. Which of the following of Harvey’s outside business ...


Martin Taylor, a loan officer at First National Bank, is a long time friend of Bill Evans, a local homebuilder. ...


Which of the following factors would NOT be considered when evaluating whether specific behavior by a banker vio ...


When does a gift accepted by a banker clearly violate the Bank Bribery Act.


Which of the following transactions does NOT require prior approval of the Federal Reserve Board.


First National Bancshares, Inc., a bank holding company, filed an application with its Federal Reserve Bank on M ...


Which of the following activities is NOT a permissible nonbanking activity.


First National Bankshares, Inc., a bank holding company, held substantially all of the voting stock of an equipm ...


Which of the following is NOT a factor considered by the Federal Reserve Board when it evaluates an application ...


Which of the following is NOT a corporate practice required of bank holding companies.


For which of the following business activities must a bank holding company obtain prior approval of the Federal ...


ACME national bank plans to acquire Smith Brothers insurance agency and make it an operating subsidiary of the b ...


First State Bank, a state nonmember institution, plans to purchase a company that would be a financial subsidiar ...


A subsidiary of First National Bank can legally participate in all but one of the following businesses. In which ...


In which of the following cases would First National Bank be required to give a branch closing notice.


In which of the following situations does a bank need to post a branch closing notice.


Second National has decided to close one of its less profitable neighborhood branches. Which of the following ac ...


Big Nationwide Bank has decided to close one of its smaller branches in Texas. A community association from the ...


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


A bank has a stand alone ATM in a high crime area. Due to concerns for the safety of individuals using the ATM, ...


A bank is planning to sell eight branches. The compliance officer participates on a bank committee to oversee th ...


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


Which of the following actions is acceptable under the financial reporting regulations.


A bank may include all of the following in the narrative portion of its financial disclosure except for one. Whi ...


Which of the following sources is the least desirable to use when monitoring a correspondent bank’s capita ...


Bank B is a correspondent of Bank


Which of the following is NOT a requirement of Regulation F.


Which of the following loans is clearly NOT subject to the IRS mortgage interest reporting requirement.


Which of the following actions subjects a lender to mortgage interest reporting requirements.


If the lender is subject to the mortgage interest reporting requirement, which of the following actions is NOT r ...


Information reports must include which of the following details.


Mr. Roberts has three loans at First National Bank: Loan A made to purchase a car, secured by the car; Loan B ma ...


Mrs. Franklin has two mortgage loans at First National Bank on which she makes monthly payments. On Loan A she m ...


First National Bank sold several of its mortgage loans to individual investors and now services the loans for th ...


First National Bank does not have the TINs of several borrowers with mortgage loans. What should the bank do to ...


For a U.S. bank with domestic and foreign locations, which transaction does NOT require an information return to ...


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


On foreclosure, which of the following loans is subject to the reporting requirements for foreclosed and abandon ...


First National Bank has foreclosed on several loans. One of the loans is not subject to the requirement to submi ...


First National Bank made a loan to Lawrence & Co. for the purpose of purchasing landscape equipment, secured ...


Which of the following pieces of information is the bank NOT required to report on Form 1099 for foreclosed and ...


By what date must the bank send the borrower a statement in connection with an information return on foreclosed ...


Which account is NOT subject to backup withholding.


Walter Johnson has two accounts at First National Bank. His savings account was opened in 1975, and his money ma ...


On March 1, First National Bank opened three accounts: 1) a savings account for Margaret Nelson, who did not hav ...


First National Bank receives a notice from the IRS to begin withholding 28 percent of the interest payments on t ...


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


Which of the following interest bearing accounts is EXEMPT from Form 1099 annual information reporting requirem ...


Which of the following groups of employees should be trained on the detailed use of W 9 forms.


A bank has given a customer a merchandise gift with a fair market value of $25.00 for opening a deposit account. ...


Which of the following relationships does NOT violate Regulation L. • Relationship A: First National Bank ...


A current member of the board of directors at First Savings Association (an institution with $150 million in tot ...


Trust Co. and First National Bank are located in the same city and each has assets of over $20 million. The pres ...


First National Bank is a newly chartered bank. Which of the following security related procedures is NOT require ...


Which of the following types of security devices is required for each bank, at minimum, under the Bank Protectio ...


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


According to federal regulations, what must a security officer do when establishing a bank security program. ...


First National Bank and Fidelity Bank are subsidiaries of Bank Holding Company, Inc. Fidelity is planning to sel ...


First National Bank is a wholly owned subsidiary of Bank Holding Company, Inc. Which of the following companies ...


First National Bank would like to make a loan to an affiliate bank. Which of the following would NOT be acceptab ...


Which of the following practices is authorized by the Federal Reserve Act.


First National Bank made a loan to a nonbank affiliate of its holding company that is secured by stocks, bonds, ...


Which of the following items is considered a low quality asset.


A member bank wants to sell assets to an affiliated bank that is 100 percent owned by the same bank holding comp ...


A national bank may make a loan to an affiliated mortgage company that is 100 percent owned by the same bank hol ...


When may an automatically renewable time deposit account be considered for inclusion in the unclaimed property r ...


Which state receives the reporting and escheatment of unclaimed property.


What are holders of unclaimed property required to do.


Which of the following institutions is exempt from the coverage of CRA.


Which of the following is NOT a requirement of CRA.


ABC National Bank, an independent bank with $120 million in total assets located in a large urban area, is in th ...


QRS State Bank is being examined under the lending test. Which of the following is the most relevant criteria fo ...


Which of the following institutions could be examined for CRA under the small intermediate bank performance stan ...


In the small bank performance standard, which of the following is NOT a criterion.


Which of the following is true of a bank’s CRA strategic plan.


A bank received a signed letter criticizing its performance in meeting the credit needs of the community, but no ...


What is the definition of a “small” business under CRA rules.


Which of the following must a “large” bank maintain as part of its CRA program.


A bank has been criticized by an examiner for less than satisfactory CRA performance. The bank must show improve ...


Which of the following is the best method for a large bank to use in monitoring its CRA performance.


In evaluating a bank’s CRA performance, to what do bank examiners give the greatest consideration.


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


Which of the following institutions is NOT subject to the coverage of HMDA. • Bank A, with assets of $55 ...


Several types of loan related data appear in the following list. Which type of data is NOT required to be repor ...


Of the following types of data, which one is NOT required to be reported for each application for an originated ...


The following statements make assertions about the collection and reporting of data on race, ethnicity, sex, and ...


On which of these loans does First National have to report the interest rate spread on its HMDA LAR.


By what date must financial institutions submit their loan application registers to their federal supervisory ag ...


Which of the following loans would First National report on its loan application register.


When must a bank make its mortgage loan disclosure statement available.


What information must be on the loan application registers for home loans on property located within the bank&rs ...


How must most banks submit loan application registers to their federal supervisory agencies.


Which of the following is required to be reported on ABC Bank’s HMDA LAR.


John and Elise Fernandez apply to ABC Bank for a loan to purchase a manufactured home. ABC Bank is a community b ...


Which of the following loans or applications is EXCLUDED from HMDA reporting.


For HMDA purposes, the term “dwelling” does NOT include which of the following.


Which of the following representations on the HMDA loan application register is a violation of Regulation C. ...


An individual borrowed $1,000 to remodel her mobile home. She lives in the mobile home that is not anchored to t ...


Under HMDA, what is the threshold for reporting the interest rate spread for first lien mortgage loans.


In a review of a bank’s home mortgage loan application register, which of the following must be included i ...


Williams National Bank has its home office in New York State; however, it has branches in Nebraska. The federal ...


Which of the following banks CANNOT select Montana as its home state for deposit production purposes.


A banking agency is conducting a credit needs determination. Which of the following is NOT a criterion used in s ...


ACME Bank would like its tellers to help sell insurance products to new and existing customers. The tellers woul ...


ACME Bank has a separate page on its Web site where it describes insurance products, such as life insurance and ...


It is the policy of First Safe Bank to offer credit life insurance and accident and disability insurance to all ...


Which of the following is (are) NOT covered by the regulation.


A bank representative is selling insurance products in, or on behalf of, the bank. What may the representative N ...


A recent compliance review revealed that several branch officers are using obsolete loan application forms, whic ...


Which of the following entities is exempt from the requirements of the Government Securities Act.


If a bank is a government securities broker or dealer, what are its responsibilities when it obtains a Form G F ...


When is it permissible for a bank that is a government securities broker or dealer to refrain from filing a Form ...


When is it possible for a bank to be exempted from compliance with some of the Government Securities Act custodi ...


Under what circumstances will a G FINW (a withdrawal as a government securities dealer) become effective in les ...


Which of the following actions is NOT a custodial requirement of the Government Securities Act.


A bank that is a government securities broker accepts money from a customer for the purchase of securities on Mo ...


Which of the following elements is NOT required to be in a repurchase agreement between a bank that is a governm ...


What is the maximum number of government securities transactions a bank may have and still remain exempt from th ...


Transactions with which of the following government securities would NOT subject a bank to the registration requ ...


In which of the following situations is the bank NOT required to report lost or stolen securities.


Jayne Logan, a loan officer at State National Bank, has recently recruited Mr. David Roberts as a new loan custo ...


Generally, a financial institution is required to ascertain if securities certificates they have taken by pledge ...


How long after discovery does a bank have to report any lost or missing securities when criminal activity is sus ...


A compliance officer receives a call from a loan officer who asks for advice on what she should do with a stock ...


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


A bank municipal securities dealer has 30 employees in its municipal securities operation. How many municipal se ...


First National Bank is a municipal securities dealer. Its municipal securities department is supervised by Mary ...


Which of the following actions is NOT required of a municipal securities principal.


A municipal securities principal must directly supervise municipal securities operations. This includes reviewin ...


First National Bank (FNB) purchased a table for $500 at the Governor’s reelection fundraising dinner last ...


State National Bank offers credit life and disability insurance on all consumer loans. This credit related insu ...


Of the following actions, which one is NOT recommended by the OCC’s advisory letter as a necessary tool of ...


Of the following practices, which one is NOT accepted in insurance and annuity sales.


Which of the following is NOT a requirement of the Interagency Statement on Retail Sales of Nondeposit Investmen ...


Which of the following bank policies does NOT comply with the Interagency Policy Statement on the Retail Sales o ...


State National Bank has a Web site on which it advertises all of its products. One page of the Web site is devot ...


Which of the following bank products is NOT subject to the disclosure provisions of the Interagency Statement on ...


Under the Interagency Statement on Retail Sales of Nondeposit Investment Products what disclosure must the bank& ...


A bank is considering canceling its agreement with a broker to which it currently leases space in its lobby. The ...


Which of the following advertising activities indicate that a bank would NOT be exempt from SEC registration req ...


Which of the following is a high net worth customer.


Which of the following is NOT a requirement when a bank pays an employee a fee for referring a high networth or ...