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American Bankers Association CRCM Exam Questions

Exam Name: Certified Regulatory Compliance Manager
Exam Code: CRCM
Related Certification(s): American Bankers Association Compliance and Risk Management CRCM Certification
Certification Provider: American Bankers Association
Actual Exam Duration: 240 Minutes
Number of CRCM practice questions in our database: 463 (updated: Nov. 19, 2024)
Expected CRCM Exam Topics, as suggested by American Bankers Association :
  • Topic 1: Review first line compliance monitoring results and develop an action plan as needed/ Coordinate and submit ongoing regulatory reports to auditors/examiners
  • Topic 2: Develop, conduct, and track enterprise-wide and/or job-specific compliance training/ Act as a compliance subject matter expert on projects and committees
  • Topic 3: Develop, implement, and monitor a plan of action to prevent future reporting errors or breakdowns/ Define the scope of a specific monitoring or testing activity
  • Topic 4: Complete requiredreporting, ensure timely submission to the appropriate agency, and resubmit when required/ Participate in conducting due diligence for vendors
  • Topic 5: Report on the status of regulatory changes and implementation to appropriate parties/ Validate that any required remediation was completed accurately and within required timelines
  • Topic 6: Assess regulatory guidance and compliance enforcement actions/ Design and maintain a comprehensive compliance risk assessment program
  • Topic 7: Identify and mitigate risk within the organization’s risk appetite/ Determine if remediation is required to address potential compliance impacts
  • Topic 8: Evaluate the reliability of systems of record and the validity/ Conduct periodic reviews of the compliance management program to evaluate its effectiveness
  • Topic 9: Provide compliance supportto internal and external parties/ Report on action plan status to appropriate levels of management and auditors/examiners
  • Topic 10: Establish and maintain a compliance management policy to set expectations for board/ Compliance Analysis and Internal/External Reporting
Disscuss American Bankers Association CRCM Topics, Questions or Ask Anything Related
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Val

5 days ago
I passed the ABA CRCM exam, and the Pass4Success practice questions were invaluable. One question that stumped me was about the process of compliance analysis and internal/external reporting. It asked how to ensure the accuracy and timeliness of compliance reports, and I had to think carefully about the best methods. Despite my uncertainty, I passed.
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Kristel

9 days ago
Don't underestimate the importance of CRA knowledge. The exam tests your understanding of assessment areas and community development activities.
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Lenita

12 days ago
Grateful for Pass4Success! Their materials helped me ace the ABA CRCM exam in record time. Highly recommend!
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Gladis

20 days ago
The ABA CRCM exam was tough, but I passed, thanks to Pass4Success practice questions. There was a question on regulatory change management that asked how to effectively implement new regulations within an organization. I was unsure about the best strategies to use, but I still managed to pass the exam.
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Hubert

27 days ago
Thanks to Pass4Success, I aced the CRCM exam! Study up on UDAAP regulations - there were several scenario-based questions on unfair or deceptive practices.
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Tambra

1 months ago
I’m thrilled to have passed the ABA CRCM exam, and the Pass4Success practice questions were a big help. One challenging question was about the responsibilities of the board in governance and oversight. It asked how the board should ensure compliance with regulatory requirements, and I had to recall specific governance frameworks. Despite my doubts, I passed.
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Deeanna

1 months ago
The exam covers fair lending laws extensively. Expect questions on Equal Credit Opportunity Act violations and how to identify them in lending practices.
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Glenn

1 months ago
Whew, CRCM certification achieved! Pass4Success made studying efficient. Their exam questions were crucial for my success.
upvoted 0 times
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Vincenza

2 months ago
Passing the ABA CRCM exam was a great achievement for me, thanks in part to the practice questions from Pass4Success. There was a tricky question about the role of compliance monitoring in identifying and mitigating risks. It asked for examples of effective monitoring techniques, and I had to think hard about the best practices. Even though I was uncertain, I still succeeded.
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Yvonne

2 months ago
Just passed the ABA CRCM exam! Grateful for Pass4Success's help. Be prepared for questions on the Bank Secrecy Act, especially suspicious activity reporting requirements.
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Shantell

2 months ago
I recently passed the American Bankers Association Certified Regulatory Compliance Manager exam, and I must say, the Pass4Success practice questions were incredibly helpful. One question that caught me off guard was about the key components of a compliance risk assessment. It asked how to prioritize risks based on their potential impact and likelihood, and I wasn't entirely sure of the best approach. Despite this, I managed to pass the exam.
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Percy

2 months ago
Just passed the ABA CRCM exam! Pass4Success's practice questions were spot-on. Thanks for helping me prep quickly!
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Junita

3 months ago
With the help of Pass4Success practice questions, I passed the American Bankers Association Certified Regulatory Compliance Manager exam. The exam covered topics such as developing action plans based on first line compliance monitoring results and submitting regulatory reports to auditors/examiners. One question that I recall was about coordinating ongoing regulatory reports to examiners. It required a thorough understanding of the reporting process, but I was able to answer it correctly and pass the exam.
upvoted 0 times
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Novella

4 months ago
My exam experience for the American Bankers Association Certified Regulatory Compliance Manager exam was successful thanks to Pass4Success practice questions. The topics on the exam included acting as a compliance subject matter expert on projects and committees. One question that I remember was about acting as a compliance subject matter expert on a specific project. I had to think carefully about the best approach, but I ultimately passed the exam.
upvoted 0 times
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Sherman

5 months ago
Just passed the ABA CRCM exam! Be prepared for regulatory reporting questions, especially on Suspicious Activity Reports (SARs). Study filing thresholds and timing requirements. Thanks to Pass4Success for the spot-on practice questions that helped me prep quickly!
upvoted 0 times
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Karina

5 months ago
I passed the American Bankers Association Certified Regulatory Compliance Manager exam with the help of Pass4Success practice questions. The exam covered topics like reviewing first line compliance monitoring results and developing action plans, as well as coordinating ongoing regulatory reports to auditors/examiners. One question that stood out to me was related to developing, conducting, and tracking enterprise-wide compliance training. I wasn't completely sure of the answer, but I still managed to pass the exam.
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Free American Bankers Association CRCM Exam Actual Questions

Note: Premium Questions for CRCM were last updated On Nov. 19, 2024 (see below)

Question #1

First National Bank advises Country A, a boycotting country, on various U.S. investments. Country A instructs First National Bank not to recommend for investment any shares of certain blacklisted companies. First National Bank follows this instruction. Has First National Bank participated or cooperated in an international boycott under the IRS regulations by this action?

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Correct Answer: B

Question #2

The BSA officer has just been notified by the chief operations officer that, due to a glitch in the bank's OFAC interdiction software, wires have been regularly transmitted to a bank on the SDN list. Based on the OFAC Enforcement Guidance, what should the BSA Officer do FIRST to attempt to mitigate any penalties?

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Correct Answer: B

Question #3

First National Bank has several exempt customers.

* Alpha is an exempt person because its stock is listed on a major stock exchange.

* Beta is an exempt person because it meets the nonlisted customer requirements.

* Zeta is exempt because it is a payroll customer. For which customer(s) must the bank conduct an annual review to determine its continuing eligibility to be exempt from CTR filings?

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Correct Answer: D

Question #4

Mrs. Evans, a customer of First National Bank, deposits $15,000 in cash to her account. During the transaction, Mrs. Evans explains that she received the money in the mail from her sister in Europe. What responsibility does the bank have?

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Correct Answer: D

Question #5

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

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Correct Answer: C

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