Attend this CRCM Certified Regulatory Compliance Manager Practice Exam will get a Good Score 80% on Main Exam

Description

Sample Questions:

____________should include basic elements designed to understand and mitigate risk. It usually includes: Written program Compliance-related policies and procedures

Tactical Compliance procedure

Rank solution

Compliance program

None of these

Under collateral requirements-12CFR 221 .7, maximum loan value of margin stock is:

Currently 50 percent of the current market value

Currently 70 percent of the current market value

Subject to change by the Federal Reserve

Subject to change by the Equity Reserve

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

All purpose credit extended to a customer will be considered to be a single credit for purposes of Regulation U

The value of all collateral securing all-purpose loans will be aggregated to determine if it is sufficient

If unsecured purpose credit is extended before secured purpose credit, the loans need only be combined for purposes of applying the withdrawal and substitution rules

All of the above

Which one of the following should be included in an early termination notice in case of the termination from consumer leasing agreement?

A warning to the consumer that a substantial charge may result from early termination (required only in a motor vehicle lease)

A statement of the conditions under which the lessee or lessor may terminate the lease prior to the end of the lease term

The purchase option at the end of the lease term

The amount of any penalty or other charge for early termination (the penalty must be reasonable)

In Consumer Leasing Act Content of non-segregated disclosures may be made separately or as part of another document (such as the lease agreement); however, other information cannot be stated, used, or placed so as to mislead or confuse the consumer. Other disclosures include all of the following EXCEPT:

A statement of the conditions under which the lessee or lessor may terminate the lease before the end of the lease term, along with the amount (or description of the method of how the amount is determined) of any penalty or other charge for early termination

Whether the lessee has the option to purchase the leased property during the lease term and, if applicable, the purchase price (or method for determining it) and when the lessee may exercise it

The lessee’s right to an independent appraisal of the property if the lessee’s liability at the end of the lease is based on the realized value of the leased property, and that the appraisal will be binding on all parties

A statement of maintenance responsibilities including the counter bank responsible and a description of the responsibility

Who this course is for:

  • Those who want to get knowledge on Certifications & Check your Skill Test while attend this Practice Test