Free American Bankers Association CRCM Exam Questions

Become American Bankers Association Certified with updated CRCM exam questions and correct answers

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Total 465 Questions | Updated On: Jun 17, 2026

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Question 1

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

A : Fedwire transfers

B : Interdistrict transfers

C : Intradistrict transfers

D : Any one of these

Answer: B

Question 2

First National’s consumer leasing department placed an ad in the local paper that pictured a car with the caption, “Sign a lease with us and pay only $275 per month.” What other information must this ad have?

A : A statement that the transaction is not a loan

B : The total amount due at consummation or delivery, the number of payments required, and any required security deposit

C : The bank’s policy regarding the purchase of the property by the lessee

D : Disclosures regarding required insurance

Answer: B

Question 3

When is it permissible for a bank that is a government securities broker or dealer to refrain fromfiling a Form G-FIN-5 or a Form MSD-5 when an employee terminates the associated person status?

A : When the employee files the form

B : When the bank does not have all the necessary information and notifies its regulatory agency

C : When the employee’s status is reinstated within six months

D : When the employee remains employed by the bank and the bank notifies its regulatory agency

Answer: D

Question 4

It means a direction by the consumer that the financial institution not discloses nonpublic personal information about the consumer to a non-affiliated third party, except as permitted by the regulation. What is it?

A : Opt-out

B : Re-disclosure

C : Non-affiliated

D : Both B and C

Answer: A

Question 5

Examples of unfair practices mentioned in guidelines against Predatory and Abusive Lending includes loan flipping and loan equity stripping. It is said that:

A : Loan flipping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden

B : Equity stripping is the practice of making loans secured by the consumer’s home but with high, upfront fees that are financed and secured by the home

C : Loan flipping is the practice of making loans secured by the consumer’s home but with high, upfront fees that are financed and secured by the home

D : Equity stripping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden

Answer: A,B

Page: 1 / 93

Total 465 Questions | Updated On: Jun 17, 2026

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