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)?

APenalties up to $7,500 per day for violations of laws and regulations

BPenalties 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

CPenalties 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

DPenalties up to $6,500 per day for violations of laws and regulations

Show Suggested Answer

Suggested Answer: A, C

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

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Skye

5 months ago

Totally agree, B makes sense for reckless behavior.

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Gertude

5 months ago

Wait, $1.375 million per day? That can't be right!

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Dierdre

5 months ago

C seems way too high for a daily penalty!

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Matthew

5 months ago

I think B is the most severe penalty listed.

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Brandon

5 months ago

A and D both mention penalties for violations.

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Ling

6 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

6 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

6 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

6 months ago

I think it's routing configuration mode, but I might be misremembering.

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Denae

6 months ago

Route filter sounds familiar, but I'm not convinced it's the right choice for optimizing video calls.

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