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American Bankers Association CRCM Exam - Topic 9 Question 4 Discussion

Which one of the following is out of the FIRREA penalties included in the enforcement section of Adjusted Mortgage Regulation (12 CFR 34)?
A) Penalties up to $7,500 per day for violations of laws and regulations and C) Penalties up to $1,375,000 per day against persons who knowingly commit a violation and knowingly or recklessly cause a substantial loss to the bank or a substantial benefit to the party
B) Penalties up to $47,500 per day if violations or unsafe or unsound practices are engaged in recklessly or are part of a pattern of misconduct that causes more than a minimal loss to the bank or any pecuniary gain to the parties involved
D) Penalties up to $6,500 per day for violations of laws and regulations

American Bankers Association CRCM Exam - Topic 9 Question 4 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 4
Topic #: 9
[All CRCM Questions]

Which one of the following is out of the FIRREA penalties included in the enforcement section of Adjusted Mortgage Regulation (12 CFR 34)?

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Suggested Answer: A, C

by Arminda at May 08, 2022, 11:11 PM

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Skye
8 months ago
Totally agree, B makes sense for reckless behavior.
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Gertude
9 months ago
Wait, $1.375 million per day? That can't be right!
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Dierdre
9 months ago
C seems way too high for a daily penalty!
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Matthew
9 months ago
I think B is the most severe penalty listed.
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Brandon
9 months ago
A and D both mention penalties for violations.
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Ling
9 months ago
This is a tricky one, but I think the answer is to ensure the users have the server certificate installed. That should prevent the SSL/TLS error.
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Gilma
9 months ago
I'm a little confused by all the different foreign market entry modes listed here. They seem quite similar, so it's hard for me to confidently distinguish between them. I'll have to go with my best guess on this one.
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Elvis
9 months ago
I have a vague recollection that using LIKE _02 might not return all 2002 records correctly. Could it be that option D actually works better than the others?
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Keva
9 months ago
I think it's routing configuration mode, but I might be misremembering.
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Denae
10 months ago
Route filter sounds familiar, but I'm not convinced it's the right choice for optimizing video calls.
upvoted 0 times
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