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American Bankers Association CRCM Exam - Topic 8 Question 5 Discussion

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:
D) A and B only
A) Specified in loan documents
B) Readily available to and verifiable by the browser
C) Multiple values of a chosen measure or a moving average of the chosen measure calculated over a specified period

American Bankers Association CRCM Exam - Topic 8 Question 5 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 5
Topic #: 8
[All CRCM 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

by Josphine at May 08, 2022, 01:21 AM

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Marya
10 months ago
I’m surprised this isn’t more complicated!
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Lorita
11 months ago
I think it’s actually C, multiple values make more sense.
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Rolland
11 months ago
Wait, is it really just A and B? Sounds too simple.
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Brande
11 months ago
Totally agree, it’s all about transparency!
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Phyliss
11 months ago
The index must be specified in the loan documents.
upvoted 0 times
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Andra
11 months ago
I'm pretty confident the answer is A. The chief information officer is typically responsible for overseeing IT/technology initiatives and reporting on them to executive leadership and the board. That seems to match what this question is asking about.
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Arlean
11 months ago
Hmm, I'm not sure about this one. I'll have to think it through carefully.
upvoted 0 times
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Elinore
12 months ago
Hmm, this seems like a straightforward question about bit error rates. I'll need to think carefully about the normal range they mentioned.
upvoted 0 times
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