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American Bankers Association Exam CRCM Topic 8 Question 5 Discussion

Actual exam question for American Bankers Association's Certified Regulatory Compliance Manager exam
Question #: 5
Topic #: 8
[All Certified Regulatory Compliance Manager Questions]

In Requirements section of Adjusted Mortgage Regulation (12 CFR 34), for loans subject to both the OCC ARM regulation and to Regulation Z, 12 CFR 226.19(b)---that is, loans made to an individual, for personal purposes, secured by the borrower's principal dwelling, and having a term longer than one year--- the index to which the interest rate is tied must be:

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Suggested Answer: D

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