ABA CRCM Exam Practice Questions (P. 1)
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Question #1
- ACoordinating regulatory exams to explain risks to examiners
- BOverseeing compliance training targeting higher risk areas
- CTracking regulatory proposals and final rules to understand new risks
- DAll of theseMost Voted
D

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Question #2
Secrecy Act, also establishes their expectations that a bank's program be risk based. Who are they?
- AOutsourcing firms
- BForeign financial service providers
- CBank regulatory agenciesMost Voted
- DRisk management organizations
C

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Question #3
- AUnderstanding the business units operating environment and risk tolerance
- BPerforming risk assessments with the assistance of business units to determine current risk levels and risks associated with the bank's products, lines of business, customers, and locations, among other factors
- CWorking with business units to ensure prompt corrective action for any detected errors
- DAssisting business lines with compliance training for employees, as neededMost Voted
D

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Question #4
Written program -
Compliance-related policies and procedures
- ATactical Compliance procedure
- BRank solution
- CCompliance programMost Voted
- DNone of these
C

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Question #5
- ARegulations should be applied consistently to procedures throughout the bankMost Voted
- BRevisions to procedures should be based on compliance expertise and not mere editingMost Voted
- CProviding solutions to mitigate any identified risk
- DAssisting business units in developing or revising policies and procedures to reflect current regulatory requirements
AB

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Question #6
- ATrack regulatory proposalsMost Voted
- BImplementing final regulatory rulesMost Voted
- CUnderstanding the business units' operating environment and risk tolerance
- DRanking solutions as high, moderate and low riskMost Voted
ABD

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Question #7
- AOngoing monitoring to evaluate the program, self monitoring and corrective actionMost Voted
- BSelf monitoring
- CPeriodic reviews
- DOngoing monitoring to evaluate the program, self monitoring and periodic reviews
A

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Question #8
- ARisk assessment
- BMeasuring key risk indicators
- CIdentifying key performance indicators
- DTraining the leadership of compliance regulation programMost Voted
D

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Question #9
- AFines or penaltiesMost Voted
- BCustomer complaintsMost Voted
- CRegulatory criticism from a regulator or internal or external auditorsMost Voted
- DNone of these
ABC

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Question #10

The risk trend shows the direction of risk and probable change to risk over the next 12 months. A trend toward increasing risk means that
- AManagement may want to take additional action through more controls or increased reviewsMost Voted
- BRisk may prompt a decrease in controls and improved efficiencies
- CControls currently in place are appropriate to succeed in keeping risks within management's established risk-tolerance level
- DRisk measurements exceed management's tolerance for risk
A

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