American Bankers Association Exam CRCM Topic 2 Question 99 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 99
Topic #: 2

[All CRCM Questions]

FDIC guidance lists three requirements to ensure compliance with spousal signature rules include all of the following EXCEPT:

AReview and revise policies
Eliminate policies or procedures that are inconsistent with the requirements
Expand loan policies and procedures to provide loan staff with specific guidance on state law(s) regarding requiring signatures Cover the laws of all states where the creditor institution does business Create checklists to address situations when spousal signatures can be required

BProvide training to consumer and commercial loan staff

CImplement monitoring and auditing programs to check for spousal signature violations

DMust allow an applicant to designate a birth-given first name and a birth-given, surname, spouse's surname, or combination

Show Suggested Answer

Suggested Answer: C

by Gail at Sep 14, 2024, 10:24 PM

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Alex

2 months ago

Seriously, who comes up with these exam questions? They're like a puzzle wrapped in a riddle!

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Stefania

1 months ago

I agree, it's important to review and revise policies to ensure compliance.

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Stefania

1 months ago

I think the answer is A) Review and revise policies.

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Stefania

2 months ago

I know, these questions can be so confusing sometimes.

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Miles

3 months ago

I'm pretty sure D is the correct answer. I mean, why would the FDIC require us to allow applicants to use a birth-given name? That just seems like a weird thing to include.

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