{"id":1407,"date":"2018-10-12T06:20:46","date_gmt":"2018-10-12T06:20:46","guid":{"rendered":"https:\/\/dumps.dumpsbase.com\/?p=1407"},"modified":"2019-03-04T07:36:30","modified_gmt":"2019-03-04T07:36:30","slug":"certified-regulatory-compliance-manager-crcm-exam-2018","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/certified-regulatory-compliance-manager-crcm-exam-2018.html","title":{"rendered":"Certified Regulatory Compliance Manager (CRCM) Exam 2018"},"content":{"rendered":"<p>If you are not fimilar with Certified Regulatory Compliance Manager (CRCM) exam, you need to search for the details of CRCM certification at once. The CRCM certification demonstrates your expertise in the regulatory compliance field. To earn the Certified Regulatory Compliance Manager (CRCM) designation, candidates must:<\/p>\n<ul>\n<li>Meet the eligibility requirements<\/li>\n<li>Submit completed application and fees for desired exam date;<\/li>\n<li>Pass the CRCM examination.<\/li>\n<\/ul>\n<p>It it not an easy task, you need to answer 200 multiple-choice questions and maximum 4 hour timeframe allowed.<\/p>\n<p>Complete Certified Regulatory Compliance Manager (CRCM) Exam 2018 now. Real CRCM certification exam dumps are great, here share you <strong><span style=\"color: #ff6600;\">free questions of<\/span> Certified Regulatory Compliance Manager (CRCM)<\/strong> certification.<\/p>\n<script>\n\t  window.fbAsyncInit = function() {\n\t    FB.init({\n\t      appId            : '622169541470367',\n\t      autoLogAppEvents : true,\n\t      xfbml            : true,\n\t      version          : 'v3.1'\n\t    });\n\t  };\n\t\n\t  (function(d, s, id){\n\t     var js, fjs = d.getElementsByTagName(s)[0];\n\t     if (d.getElementById(id)) {return;}\n\t     js = d.createElement(s); js.id = id;\n\t     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n\t     fjs.parentNode.insertBefore(js, fjs);\n\t   }(document, 'script', 'facebook-jssdk'));\n\t<\/script><script type=\"text\/javascript\" >\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \nif(!window.jQuery) alert(\"The important jQuery library is not properly loaded in your site. Your WordPress theme is probably missing the essential wp_head() call. You can switch to another theme and you will see that the plugin works fine and this notice disappears. If you are still not sure what to do you can contact us for help.\");\n});\n<\/script>  \n  \n<div  id=\"watupro_quiz\" class=\"quiz-area single-page-quiz\">\n<p id=\"submittingExam561\" style=\"display:none;text-align:center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\"><\/p>\n\n<div class=\"watupro-exam-description\" id=\"description-quiz-561\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-561\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-12677'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>To be effective, compliance risk management professionals must design a framework to ensure that bank management understands the risks and the steps that must be taken to mitigate them. The many roles compliance professionals fill incorporate risk management aspects including:<\/div><input type='hidden' name='question_id[]' id='qID_1' value='12677' \/><input type='hidden' id='answerType12677' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12677[]' id='answer-id-52481' class='answer   answerof-12677 ' value='52481'   \/><label for='answer-id-52481' id='answer-label-52481' class=' answer'><span>Coordinating regulatory exams to explain risks to examiners<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12677[]' id='answer-id-52482' class='answer   answerof-12677 ' value='52482'   \/><label for='answer-id-52482' id='answer-label-52482' class=' answer'><span>Overseeing compliance training targeting higher risk areas<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12677[]' id='answer-id-52483' class='answer   answerof-12677 ' value='52483'   \/><label for='answer-id-52483' id='answer-label-52483' class=' answer'><span>Tracking regulatory proposals and final rules to understand new risks<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12677[]' id='answer-id-52484' class='answer   answerof-12677 ' value='52484'   \/><label for='answer-id-52484' id='answer-label-52484' class=' answer'><span>All of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-2' style=';'><div id='questionWrap-2'  class='   watupro-question-id-12678'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>They also embrace the concept of risk-based compliance management. They expect compliance management to be tailored to the bank, be it large or small, offering standard or specialty financial services, simple or complex products lines, and adjusted as appropriate for the customer base as that issued for the Bank Secrecy Act, also establishes their expectations that a bank\u2019s program be risk based. <br \/>\r<br>Who are they?<\/div><input type='hidden' name='question_id[]' id='qID_2' value='12678' \/><input type='hidden' id='answerType12678' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12678[]' id='answer-id-52485' class='answer   answerof-12678 ' value='52485'   \/><label for='answer-id-52485' id='answer-label-52485' class=' answer'><span>Outsourcing firms<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12678[]' id='answer-id-52486' class='answer   answerof-12678 ' value='52486'   \/><label for='answer-id-52486' id='answer-label-52486' class=' answer'><span>Foreign financial service providers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12678[]' id='answer-id-52487' class='answer   answerof-12678 ' value='52487'   \/><label for='answer-id-52487' id='answer-label-52487' class=' answer'><span>Bank regulatory agencies<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12678[]' id='answer-id-52488' class='answer   answerof-12678 ' value='52488'   \/><label for='answer-id-52488' id='answer-label-52488' class=' answer'><span>Risk management organizations<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-3' style=';'><div id='questionWrap-3'  class='   watupro-question-id-12679'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>A compliance professional\u2019s responsibilities include all of the following EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_3' value='12679' \/><input type='hidden' id='answerType12679' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12679[]' id='answer-id-52489' class='answer   answerof-12679 ' value='52489'   \/><label for='answer-id-52489' id='answer-label-52489' class=' answer'><span>Understanding the business units operating environment and risk tolerance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12679[]' id='answer-id-52490' class='answer   answerof-12679 ' value='52490'   \/><label for='answer-id-52490' id='answer-label-52490' class=' answer'><span>Performing risk assessments with the assistance of business units to determine current risk levels and risks associated with the bank\u2019s products, lines of business, customers, and locations, among other factors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12679[]' id='answer-id-52491' class='answer   answerof-12679 ' value='52491'   \/><label for='answer-id-52491' id='answer-label-52491' class=' answer'><span>Working with business units to ensure prompt corrective action for any detected errors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12679[]' id='answer-id-52492' class='answer   answerof-12679 ' value='52492'   \/><label for='answer-id-52492' id='answer-label-52492' class=' answer'><span>Assisting business lines with compliance training for employees, as needed<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-4' style=';'><div id='questionWrap-4'  class='   watupro-question-id-12680'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>______________ should include basic elements designed to understand and mitigate risk. <br \/>\r<br>It usually includes: Written program Compliance-related policies and procedures<\/div><input type='hidden' name='question_id[]' id='qID_4' value='12680' \/><input type='hidden' id='answerType12680' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12680[]' id='answer-id-52493' class='answer   answerof-12680 ' value='52493'   \/><label for='answer-id-52493' id='answer-label-52493' class=' answer'><span>Tactical Compliance procedure<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12680[]' id='answer-id-52494' class='answer   answerof-12680 ' value='52494'   \/><label for='answer-id-52494' id='answer-label-52494' class=' answer'><span>Rank solution<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12680[]' id='answer-id-52495' class='answer   answerof-12680 ' value='52495'   \/><label for='answer-id-52495' id='answer-label-52495' class=' answer'><span>Compliance program<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12680[]' id='answer-id-52496' class='answer   answerof-12680 ' value='52496'   \/><label for='answer-id-52496' id='answer-label-52496' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-5' style=';'><div id='questionWrap-5'  class='   watupro-question-id-12681'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>In a compliance program, tactical compliance procedures should be integrated into business line procedures, such as how to deliver an Adverse Action Notice when an application is declined. <br \/>\r<br>In this case:<\/div><input type='hidden' name='question_id[]' id='qID_5' value='12681' \/><input type='hidden' id='answerType12681' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12681[]' id='answer-id-52497' class='answer   answerof-12681 ' value='52497'   \/><label for='answer-id-52497' id='answer-label-52497' class=' answer'><span>Regulations should be applied consistently to procedures throughout the bank<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12681[]' id='answer-id-52498' class='answer   answerof-12681 ' value='52498'   \/><label for='answer-id-52498' id='answer-label-52498' class=' answer'><span>Revisions to procedures should be based on compliance expertise and not mere editing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12681[]' id='answer-id-52499' class='answer   answerof-12681 ' value='52499'   \/><label for='answer-id-52499' id='answer-label-52499' class=' answer'><span>Providing solutions to mitigate any identified risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12681[]' id='answer-id-52500' class='answer   answerof-12681 ' value='52500'   \/><label for='answer-id-52500' id='answer-label-52500' class=' answer'><span>Assisting business units in developing or revising policies and procedures to reflect current regulatory requirements<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-12682'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>Which of the following should be done during research and interpreting regulations Compliance professionals in mitigating compliance risk?<\/div><input type='hidden' name='question_id[]' id='qID_6' value='12682' \/><input type='hidden' id='answerType12682' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12682[]' id='answer-id-52501' class='answer   answerof-12682 ' value='52501'   \/><label for='answer-id-52501' id='answer-label-52501' class=' answer'><span>Track regulatory proposals<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12682[]' id='answer-id-52502' class='answer   answerof-12682 ' value='52502'   \/><label for='answer-id-52502' id='answer-label-52502' class=' answer'><span>Implementing final regulatory rules<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12682[]' id='answer-id-52503' class='answer   answerof-12682 ' value='52503'   \/><label for='answer-id-52503' id='answer-label-52503' class=' answer'><span>Understanding the business units\u2019 operating environment and risk tolerance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12682[]' id='answer-id-52504' class='answer   answerof-12682 ' value='52504'   \/><label for='answer-id-52504' id='answer-label-52504' class=' answer'><span>Ranking solutions as high, moderate and low risk<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-7' style=';'><div id='questionWrap-7'  class='   watupro-question-id-12683'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>The compliance program should address plans to verify adherence to applicable regulations through:<\/div><input type='hidden' name='question_id[]' id='qID_7' value='12683' \/><input type='hidden' id='answerType12683' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12683[]' id='answer-id-52505' class='answer   answerof-12683 ' value='52505'   \/><label for='answer-id-52505' id='answer-label-52505' class=' answer'><span>Ongoing monitoring to evaluate the program, self monitoring and corrective action<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12683[]' id='answer-id-52506' class='answer   answerof-12683 ' value='52506'   \/><label for='answer-id-52506' id='answer-label-52506' class=' answer'><span>Self monitoring<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12683[]' id='answer-id-52507' class='answer   answerof-12683 ' value='52507'   \/><label for='answer-id-52507' id='answer-label-52507' class=' answer'><span>Periodic reviews<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12683[]' id='answer-id-52508' class='answer   answerof-12683 ' value='52508'   \/><label for='answer-id-52508' id='answer-label-52508' class=' answer'><span>Ongoing monitoring to evaluate the program, self monitoring and periodic reviews<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-8' style=';'><div id='questionWrap-8'  class='   watupro-question-id-12684'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>There is no established template for documenting compliance risk. Each institution should develop a risk assessment that fits its risk profile. <br \/>\r<br>The components that are commonly used throughout the industry are as follows EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_8' value='12684' \/><input type='hidden' id='answerType12684' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12684[]' id='answer-id-52509' class='answer   answerof-12684 ' value='52509'   \/><label for='answer-id-52509' id='answer-label-52509' class=' answer'><span>Risk assessment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12684[]' id='answer-id-52510' class='answer   answerof-12684 ' value='52510'   \/><label for='answer-id-52510' id='answer-label-52510' class=' answer'><span>Measuring key risk indicators<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12684[]' id='answer-id-52511' class='answer   answerof-12684 ' value='52511'   \/><label for='answer-id-52511' id='answer-label-52511' class=' answer'><span>Identifying key performance indicators<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12684[]' id='answer-id-52512' class='answer   answerof-12684 ' value='52512'   \/><label for='answer-id-52512' id='answer-label-52512' class=' answer'><span>Training the leadership of compliance regulation program<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-9' style=';'><div id='questionWrap-9'  class='   watupro-question-id-12685'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>In Compliance regulation and risk assessment key performance indicators usually include:<\/div><input type='hidden' name='question_id[]' id='qID_9' value='12685' \/><input type='hidden' id='answerType12685' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12685[]' id='answer-id-52513' class='answer   answerof-12685 ' value='52513'   \/><label for='answer-id-52513' id='answer-label-52513' class=' answer'><span>Fines or penalties<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12685[]' id='answer-id-52514' class='answer   answerof-12685 ' value='52514'   \/><label for='answer-id-52514' id='answer-label-52514' class=' answer'><span>Customer complaints<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12685[]' id='answer-id-52515' class='answer   answerof-12685 ' value='52515'   \/><label for='answer-id-52515' id='answer-label-52515' class=' answer'><span>Regulatory criticism from a regulator or internal or external auditors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12685[]' id='answer-id-52516' class='answer   answerof-12685 ' value='52516'   \/><label for='answer-id-52516' id='answer-label-52516' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-10' style=';'><div id='questionWrap-10'  class='   watupro-question-id-12686'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>For example on a 0-5 scale: <br \/>\r<br><br><img decoding=\"async\" width=649 height=275 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2018\/exams\/CRCM%20V8.files\/image002.jpg\" v:shapes=\"_x0000_i1025\"><br><br \/>\r<br>The risk trend shows the direction of risk and probable change to risk over the next 12 months. A trend toward increasing risk means that<\/div><input type='hidden' name='question_id[]' id='qID_10' value='12686' \/><input type='hidden' id='answerType12686' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12686[]' id='answer-id-52517' class='answer   answerof-12686 ' value='52517'   \/><label for='answer-id-52517' id='answer-label-52517' class=' answer'><span>Management may want to take additional action through more controls or increased reviews<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12686[]' id='answer-id-52518' class='answer   answerof-12686 ' value='52518'   \/><label for='answer-id-52518' id='answer-label-52518' class=' answer'><span>Risk may prompt a decrease in controls and improved efficiencies<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12686[]' id='answer-id-52519' class='answer   answerof-12686 ' value='52519'   \/><label for='answer-id-52519' id='answer-label-52519' class=' answer'><span>Controls currently in place are appropriate to succeed in keeping risks within management\u2019s established risk-tolerance level<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12686[]' id='answer-id-52520' class='answer   answerof-12686 ' value='52520'   \/><label for='answer-id-52520' id='answer-label-52520' class=' answer'><span>Risk measurements exceed management\u2019s tolerance for risk<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-11' style=';'><div id='questionWrap-11'  class='   watupro-question-id-12687'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>Compliance professionals have a duty to keep senior management and the board apprised of the state of compliance within the bank through which of the following:<\/div><input type='hidden' name='question_id[]' id='qID_11' value='12687' \/><input type='hidden' id='answerType12687' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12687[]' id='answer-id-52521' class='answer   answerof-12687 ' value='52521'   \/><label for='answer-id-52521' id='answer-label-52521' class=' answer'><span>Self-monitoring and audit results<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12687[]' id='answer-id-52522' class='answer   answerof-12687 ' value='52522'   \/><label for='answer-id-52522' id='answer-label-52522' class=' answer'><span>Proactive compliance controls<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12687[]' id='answer-id-52523' class='answer   answerof-12687 ' value='52523'   \/><label for='answer-id-52523' id='answer-label-52523' class=' answer'><span>Timely and accurate regulatory reporting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12687[]' id='answer-id-52524' class='answer   answerof-12687 ' value='52524'   \/><label for='answer-id-52524' id='answer-label-52524' class=' answer'><span>All of the options mentioned above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-12' style=';'><div id='questionWrap-12'  class='   watupro-question-id-12688'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>After a compliance officer develops a base of knowledge of regulations, he or she must begin the art of applying regulations in a risk management environment. <br \/>\r<br>Which of the following is NOT out of a few things to be kept in mind when determining what to do FIRST?<\/div><input type='hidden' name='question_id[]' id='qID_12' value='12688' \/><input type='hidden' id='answerType12688' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12688[]' id='answer-id-52525' class='answer   answerof-12688 ' value='52525'   \/><label for='answer-id-52525' id='answer-label-52525' class=' answer'><span>Think practically about your role as an advisor. Involve the business units in the decision process rather than making decisions for them<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12688[]' id='answer-id-52526' class='answer   answerof-12688 ' value='52526'   \/><label for='answer-id-52526' id='answer-label-52526' class=' answer'><span>Calculate the institution\u2019s consolidated risk profile<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12688[]' id='answer-id-52527' class='answer   answerof-12688 ' value='52527'   \/><label for='answer-id-52527' id='answer-label-52527' class=' answer'><span>Make sure you understand the level of risk the bank will tolerate, so decisions do not exceed this limit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12688[]' id='answer-id-52528' class='answer   answerof-12688 ' value='52528'   \/><label for='answer-id-52528' id='answer-label-52528' class=' answer'><span>Add value by analyzing regulatory requirements for the business units before you present proposed or final rules or solutions<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-12689'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>In the mid-1980s a movement began among the federal supervisory agencies to produce a uniform ARM regulation. In 1988, the Federal Reserve Board added the uniform ARM disclosure requirements to a regulation. Therefore, most of the original OCC ARM consumer protection requirements are now found in this new regulation. Adjustable rate mortgage loans made by national banks may be subject to the OCC\u2019s ARM regulation or the requirements of this new regulation, or both. <br \/>\r<br>This new regulation is:<\/div><input type='hidden' name='question_id[]' id='qID_13' value='12689' \/><input type='hidden' id='answerType12689' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12689[]' id='answer-id-52529' class='answer   answerof-12689 ' value='52529'   \/><label for='answer-id-52529' id='answer-label-52529' class=' answer'><span>Regulation Z<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12689[]' id='answer-id-52530' class='answer   answerof-12689 ' value='52530'   \/><label for='answer-id-52530' id='answer-label-52530' class=' answer'><span>Truth in Lending<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12689[]' id='answer-id-52531' class='answer   answerof-12689 ' value='52531'   \/><label for='answer-id-52531' id='answer-label-52531' class=' answer'><span>CFR 34.21, 34.22 and 34.23<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12689[]' id='answer-id-52532' class='answer   answerof-12689 ' value='52532'   \/><label for='answer-id-52532' id='answer-label-52532' class=' answer'><span>FIRREA penalty<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-14' style=';'><div id='questionWrap-14'  class='   watupro-question-id-12690'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>Which one of the following is out of the FIRREA penalties included in the enforcement section of Adjusted Mortgage Regulation (12 CFR 34)?<\/div><input type='hidden' name='question_id[]' id='qID_14' value='12690' \/><input type='hidden' id='answerType12690' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12690[]' id='answer-id-52533' class='answer   answerof-12690 ' value='52533'   \/><label for='answer-id-52533' id='answer-label-52533' class=' answer'><span>Penalties up to $7,500 per day for violations of laws and regulations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12690[]' id='answer-id-52534' class='answer   answerof-12690 ' value='52534'   \/><label for='answer-id-52534' id='answer-label-52534' class=' answer'><span>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<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12690[]' id='answer-id-52535' class='answer   answerof-12690 ' value='52535'   \/><label for='answer-id-52535' id='answer-label-52535' class=' answer'><span>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<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12690[]' id='answer-id-52536' class='answer   answerof-12690 ' value='52536'   \/><label for='answer-id-52536' id='answer-label-52536' class=' answer'><span>Penalties up to $6,500 per day for violations of laws and regulations<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-15' style=';'><div id='questionWrap-15'  class='   watupro-question-id-12691'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>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)\u2015that is, loans made to an individual, for personal purposes, secured by the borrower\u2019s principal dwelling, and having a term longer than one year\u2015 the index to which the interest rate is tied must be:<\/div><input type='hidden' name='question_id[]' id='qID_15' value='12691' \/><input type='hidden' id='answerType12691' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12691[]' id='answer-id-52537' class='answer   answerof-12691 ' value='52537'   \/><label for='answer-id-52537' id='answer-label-52537' class=' answer'><span>Specified in loan documents<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12691[]' id='answer-id-52538' class='answer   answerof-12691 ' value='52538'   \/><label for='answer-id-52538' id='answer-label-52538' class=' answer'><span>Readily available to and verifiable by the browser<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12691[]' id='answer-id-52539' class='answer   answerof-12691 ' value='52539'   \/><label for='answer-id-52539' id='answer-label-52539' class=' answer'><span>Multiple values of a chosen measure or a moving average of the chosen measure calculated over a specified period<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12691[]' id='answer-id-52540' class='answer   answerof-12691 ' value='52540'   \/><label for='answer-id-52540' id='answer-label-52540' class=' answer'><span>A and B only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-16' style=';'><div id='questionWrap-16'  class='   watupro-question-id-12692'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Subprime borrowers are those with weakened credit histories or reduced repayment capacity. Loans to these borrowers historically have had a higher delinquency rate. Many lenders have expanded their lending programs and added subprime products as a method of meeting their _______________ by providing greater credit access to lower-income consumers.<\/div><input type='hidden' name='question_id[]' id='qID_16' value='12692' \/><input type='hidden' id='answerType12692' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12692[]' id='answer-id-52541' class='answer   answerof-12692 ' value='52541'   \/><label for='answer-id-52541' id='answer-label-52541' class=' answer'><span>Community Reinvestment Act (CRA) responsibilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12692[]' id='answer-id-52542' class='answer   answerof-12692 ' value='52542'   \/><label for='answer-id-52542' id='answer-label-52542' class=' answer'><span>Fraudulent marketing tactics<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12692[]' id='answer-id-52543' class='answer   answerof-12692 ' value='52543'   \/><label for='answer-id-52543' id='answer-label-52543' class=' answer'><span>FTC Act<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12692[]' id='answer-id-52544' class='answer   answerof-12692 ' value='52544'   \/><label for='answer-id-52544' id='answer-label-52544' class=' answer'><span>Predatory Lending<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-17' style=';'><div id='questionWrap-17'  class='   watupro-question-id-12693'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>The banking agencies issued two guidances to caution depository institutions about risks involved in funding non-depository lenders that engage in predatory lending. <br \/>\r<br>Predatory and abusive practices include:<\/div><input type='hidden' name='question_id[]' id='qID_17' value='12693' \/><input type='hidden' id='answerType12693' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12693[]' id='answer-id-52545' class='answer   answerof-12693 ' value='52545'   \/><label for='answer-id-52545' id='answer-label-52545' class=' answer'><span>High-pressure sales<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12693[]' id='answer-id-52546' class='answer   answerof-12693 ' value='52546'   \/><label for='answer-id-52546' id='answer-label-52546' class=' answer'><span>Excessive fees and interest rate including fees for unnecessary products<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12693[]' id='answer-id-52547' class='answer   answerof-12693 ' value='52547'   \/><label for='answer-id-52547' id='answer-label-52547' class=' answer'><span>Balloon payments that may never cause foreclosures<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12693[]' id='answer-id-52548' class='answer   answerof-12693 ' value='52548'   \/><label for='answer-id-52548' id='answer-label-52548' class=' answer'><span>Excessive refinancing with fees included in the new loan<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-12694'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>Under Interagency Guidance on Subprime Lending (1999) lending policy must:<\/div><input type='hidden' name='question_id[]' id='qID_18' value='12694' \/><input type='hidden' id='answerType12694' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12694[]' id='answer-id-52549' class='answer   answerof-12694 ' value='52549'   \/><label for='answer-id-52549' id='answer-label-52549' class=' answer'><span>Be appropriate to the size and complexity of the operation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12694[]' id='answer-id-52550' class='answer   answerof-12694 ' value='52550'   \/><label for='answer-id-52550' id='answer-label-52550' class=' answer'><span>Address the types of products offers and those not authorized<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12694[]' id='answer-id-52551' class='answer   answerof-12694 ' value='52551'   \/><label for='answer-id-52551' id='answer-label-52551' class=' answer'><span>Require credit file documentation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12694[]' id='answer-id-52552' class='answer   answerof-12694 ' value='52552'   \/><label for='answer-id-52552' id='answer-label-52552' class=' answer'><span>All of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-12695'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>The purpose of guidelines for National Banks to Guard against Predatory and Abusive Lending Practices&shy;AL-2003-2 includes all of the following EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_19' value='12695' \/><input type='hidden' id='answerType12695' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12695[]' id='answer-id-52553' class='answer   answerof-12695 ' value='52553'   \/><label for='answer-id-52553' id='answer-label-52553' class=' answer'><span>Provide examples to national banks of practices that may be abusive<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12695[]' id='answer-id-52554' class='answer   answerof-12695 ' value='52554'   \/><label for='answer-id-52554' id='answer-label-52554' class=' answer'><span>Advise banks on how they should avoid abusive practices<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12695[]' id='answer-id-52555' class='answer   answerof-12695 ' value='52555'   \/><label for='answer-id-52555' id='answer-label-52555' class=' answer'><span>Banks should consider appropriate discount rates, credit loss rates, and prepayment rates when valuing these assets<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12695[]' id='answer-id-52556' class='answer   answerof-12695 ' value='52556'   \/><label for='answer-id-52556' id='answer-label-52556' class=' answer'><span>Show how some abusive lending can involve unfair or deceptive practices and therefore violate the Federal Trade Commission Act<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-20' style=';'><div id='questionWrap-20'  class='   watupro-question-id-12696'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>Which of the following usually comes under the heading of abusive lending?<\/div><input type='hidden' name='question_id[]' id='qID_20' value='12696' \/><input type='hidden' id='answerType12696' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12696[]' id='answer-id-52557' class='answer   answerof-12696 ' value='52557'   \/><label for='answer-id-52557' id='answer-label-52557' class=' answer'><span>Abusive lending usually is defined by a variety of lending practices<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12696[]' id='answer-id-52558' class='answer   answerof-12696 ' value='52558'   \/><label for='answer-id-52558' id='answer-label-52558' class=' answer'><span>It is the excessive and hidden fees in the amount financed<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12696[]' id='answer-id-52559' class='answer   answerof-12696 ' value='52559'   \/><label for='answer-id-52559' id='answer-label-52559' class=' answer'><span>A fundamental characteristic is aggressive marketing of credit to prospective borrowers who cannot repay it on the terms offered<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12696[]' id='answer-id-52560' class='answer   answerof-12696 ' value='52560'   \/><label for='answer-id-52560' id='answer-label-52560' class=' answer'><span>Typically, such loans are underwritten on the liquidation value of the collateral rather than the creditworthiness of the borrower<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-21' style=';'><div id='questionWrap-21'  class='   watupro-question-id-12697'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>______________ is frequent refinancing that do not benefit the borrower. This practice can result in borrower injury from the fees imposed and from the fact that it decreases home equity and increases the consumer\u2019s debt burden, thus increasing the chance of foreclosure.<\/div><input type='hidden' name='question_id[]' id='qID_21' value='12697' \/><input type='hidden' id='answerType12697' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12697[]' id='answer-id-52561' class='answer   answerof-12697 ' value='52561'   \/><label for='answer-id-52561' id='answer-label-52561' class=' answer'><span>Loan flipping<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12697[]' id='answer-id-52562' class='answer   answerof-12697 ' value='52562'   \/><label for='answer-id-52562' id='answer-label-52562' class=' answer'><span>Loan refinancing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12697[]' id='answer-id-52563' class='answer   answerof-12697 ' value='52563'   \/><label for='answer-id-52563' id='answer-label-52563' class=' answer'><span>Securitization<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12697[]' id='answer-id-52564' class='answer   answerof-12697 ' value='52564'   \/><label for='answer-id-52564' id='answer-label-52564' class=' answer'><span>Subprime loans<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-22' style=';'><div id='questionWrap-22'  class='   watupro-question-id-12698'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>Guidelines for National Banks to Guard against Predatory and Abusive Lending Practices\u2015AL-2003-2 says that refusing to purchase the following types of loans can reduce the possibility of purchasing abusive mortgage loans EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_22' value='12698' \/><input type='hidden' id='answerType12698' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12698[]' id='answer-id-52565' class='answer   answerof-12698 ' value='52565'   \/><label for='answer-id-52565' id='answer-label-52565' class=' answer'><span>Loans in which the lender has not adequately determined the borrower\u2019s ability to repay the debt<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12698[]' id='answer-id-52566' class='answer   answerof-12698 ' value='52566'   \/><label for='answer-id-52566' id='answer-label-52566' class=' answer'><span>Loans subject to the Home Ownership and Equity Protection Act (HOEPA)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12698[]' id='answer-id-52567' class='answer   answerof-12698 ' value='52567'   \/><label for='answer-id-52567' id='answer-label-52567' class=' answer'><span>Loans with points and fees in excess of 5 percent of the loan amount, except in cases where the higher amount was to prevent the loan from being unprofitable<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12698[]' id='answer-id-52568' class='answer   answerof-12698 ' value='52568'   \/><label for='answer-id-52568' id='answer-label-52568' class=' answer'><span>Loans in which a prepaid multiple-premium credit insurance policy was included in the amount financed<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-23' style=';'><div id='questionWrap-23'  class='   watupro-question-id-12699'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>Predatory lending practices can adversely affect:<\/div><input type='hidden' name='question_id[]' id='qID_23' value='12699' \/><input type='hidden' id='answerType12699' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12699[]' id='answer-id-52569' class='answer   answerof-12699 ' value='52569'   \/><label for='answer-id-52569' id='answer-label-52569' class=' answer'><span>A bank\u2019s CRA rating<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12699[]' id='answer-id-52570' class='answer   answerof-12699 ' value='52570'   \/><label for='answer-id-52570' id='answer-label-52570' class=' answer'><span>Equity shipping<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12699[]' id='answer-id-52571' class='answer   answerof-12699 ' value='52571'   \/><label for='answer-id-52571' id='answer-label-52571' class=' answer'><span>Loan quality control reviews<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12699[]' id='answer-id-52572' class='answer   answerof-12699 ' value='52572'   \/><label for='answer-id-52572' id='answer-label-52572' class=' answer'><span>Truth in Lending Act<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-24' style=';'><div id='questionWrap-24'  class='   watupro-question-id-12700'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>The purpose of advisory letter in Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans- AL-2003-3 is to:<\/div><input type='hidden' name='question_id[]' id='qID_24' value='12700' \/><input type='hidden' id='answerType12700' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12700[]' id='answer-id-52573' class='answer   answerof-12700 ' value='52573'   \/><label for='answer-id-52573' id='answer-label-52573' class=' answer'><span>Adopt sound credit underwriting policies<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12700[]' id='answer-id-52574' class='answer   answerof-12700 ' value='52574'   \/><label for='answer-id-52574' id='answer-label-52574' class=' answer'><span>Alert national banks to the risks they take if they make loans through brokers or purchase loans that contain or reflect abusive or predatory terms or practices<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12700[]' id='answer-id-52575' class='answer   answerof-12700 ' value='52575'   \/><label for='answer-id-52575' id='answer-label-52575' class=' answer'><span>Adopt policies that address the circumstances under which the bank would make loans that have features associated with abusive lending practices<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12700[]' id='answer-id-52576' class='answer   answerof-12700 ' value='52576'   \/><label for='answer-id-52576' id='answer-label-52576' class=' answer'><span>Make loans secured by the consumer\u2019s home but with high, up-front fees that are financed and secured by the home<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-12701'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Examples of unfair practices mentioned in guidelines against Predatory and Abusive Lending includes loan flipping and loan equity stripping. <br \/>\r<br>It is said that:<\/div><input type='hidden' name='question_id[]' id='qID_25' value='12701' \/><input type='hidden' id='answerType12701' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12701[]' id='answer-id-52577' class='answer   answerof-12701 ' value='52577'   \/><label for='answer-id-52577' id='answer-label-52577' class=' answer'><span>Loan flipping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12701[]' id='answer-id-52578' class='answer   answerof-12701 ' value='52578'   \/><label for='answer-id-52578' id='answer-label-52578' class=' answer'><span>Equity stripping is the practice of making loans secured by the consumer\u2019s home but with high, up-front fees that are financed and secured by the home<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12701[]' id='answer-id-52579' class='answer   answerof-12701 ' value='52579'   \/><label for='answer-id-52579' id='answer-label-52579' class=' answer'><span>Loan flipping is the practice of making loans secured by the consumer\u2019s home but with high, up-front fees that are financed and secured by the home<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12701[]' id='answer-id-52580' class='answer   answerof-12701 ' value='52580'   \/><label for='answer-id-52580' id='answer-label-52580' class=' answer'><span>Equity stripping may be unfair because it increases the chances of foreclosure by decreasing home equity and increasing debt burden<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-26' style=';'><div id='questionWrap-26'  class='   watupro-question-id-12702'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>Which of the following are recommended practices in Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans\u2014AL-2003-3?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='12702' \/><input type='hidden' id='answerType12702' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12702[]' id='answer-id-52581' class='answer   answerof-12702 ' value='52581'   \/><label for='answer-id-52581' id='answer-label-52581' class=' answer'><span>Have written agreements with third-party brokers that specifically and clearly address the rights and responsibilities of each party.\r\nWritten agreements should:\r\n1. Ensure that no inappropriate compensation exists\r\n2. Provide for indemnification to the bank\r\n3. Enable banks to exit the arrangement through a termination procedure\r\n4. Provide for the bank\u2019s and the OCC\u2019s ability to access all records of the third party and to audit the third party\u2019s operations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12702[]' id='answer-id-52582' class='answer   answerof-12702 ' value='52582'   \/><label for='answer-id-52582' id='answer-label-52582' class=' answer'><span>Verify that brokers and originators have established policies to ensure that loans will comply with all applicable laws<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12702[]' id='answer-id-52583' class='answer   answerof-12702 ' value='52583'   \/><label for='answer-id-52583' id='answer-label-52583' class=' answer'><span>Establish an effective management information system to monitor the performance of third-party brokers and originators<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12702[]' id='answer-id-52584' class='answer   answerof-12702 ' value='52584'   \/><label for='answer-id-52584' id='answer-label-52584' class=' answer'><span>All of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-27' style=';'><div id='questionWrap-27'  class='   watupro-question-id-12703'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>Below mentioned list shows the significant risks of _______________. <br \/>\r<br>Borrowers with cash-flow difficulties <br \/>\r<br>Borrowers with no lower-cost credit alternatives <br \/>\r<br>Minimal analysis of borrower\u2019s ability to repay the loan <br \/>\r<br>Minimal review of borrower\u2019s credit history <br \/>\r<br>Credit is usually unsecured<\/div><input type='hidden' name='question_id[]' id='qID_27' value='12703' \/><input type='hidden' id='answerType12703' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12703[]' id='answer-id-52585' class='answer   answerof-12703 ' value='52585'   \/><label for='answer-id-52585' id='answer-label-52585' class=' answer'><span>Payday lending<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12703[]' id='answer-id-52586' class='answer   answerof-12703 ' value='52586'   \/><label for='answer-id-52586' id='answer-label-52586' class=' answer'><span>Loan flipping<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12703[]' id='answer-id-52587' class='answer   answerof-12703 ' value='52587'   \/><label for='answer-id-52587' id='answer-label-52587' class=' answer'><span>Equity stripping<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12703[]' id='answer-id-52588' class='answer   answerof-12703 ' value='52588'   \/><label for='answer-id-52588' id='answer-label-52588' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-12704'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>Banks must maintain an ____________ adequate to absorb estimated credit losses from payday loans. Banks should evaluate the collectability of accrued fees and finance charges on payday loans and ensure that this income is appropriately measured.<\/div><input type='hidden' name='question_id[]' id='qID_28' value='12704' \/><input type='hidden' id='answerType12704' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12704[]' id='answer-id-52589' class='answer   answerof-12704 ' value='52589'   \/><label for='answer-id-52589' id='answer-label-52589' class=' answer'><span>TILA<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12704[]' id='answer-id-52590' class='answer   answerof-12704 ' value='52590'   \/><label for='answer-id-52590' id='answer-label-52590' class=' answer'><span>FCRA<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12704[]' id='answer-id-52591' class='answer   answerof-12704 ' value='52591'   \/><label for='answer-id-52591' id='answer-label-52591' class=' answer'><span>ALLL<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12704[]' id='answer-id-52592' class='answer   answerof-12704 ' value='52592'   \/><label for='answer-id-52592' id='answer-label-52592' class=' answer'><span>A and B both<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-29' style=';'><div id='questionWrap-29'  class='   watupro-question-id-12705'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>Safety and soundness concerns in FDIC Payday Lending Guidance clearly mention that there should be adequate capital as Minimum capital requirements are not enough to offset the risks of payday loans. <br \/>\r<br>Banks should hold capital against its subprime portfolio in amounts:<\/div><input type='hidden' name='question_id[]' id='qID_29' value='12705' \/><input type='hidden' id='answerType12705' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12705[]' id='answer-id-52593' class='answer   answerof-12705 ' value='52593'   \/><label for='answer-id-52593' id='answer-label-52593' class=' answer'><span>That are 1&frac12; to 5 times greater than normal<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12705[]' id='answer-id-52594' class='answer   answerof-12705 ' value='52594'   \/><label for='answer-id-52594' id='answer-label-52594' class=' answer'><span>That are 1&frac12; to 3 times greater than normal<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12705[]' id='answer-id-52595' class='answer   answerof-12705 ' value='52595'   \/><label for='answer-id-52595' id='answer-label-52595' class=' answer'><span>That are 1&frac12; to 3 times lower than normal<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12705[]' id='answer-id-52596' class='answer   answerof-12705 ' value='52596'   \/><label for='answer-id-52596' id='answer-label-52596' class=' answer'><span>That should be between 2-5 in comparison to normal<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-30' style=';'><div id='questionWrap-30'  class='   watupro-question-id-12706'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>Compliance issues related to payday lending are all of the following EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_30' value='12706' \/><input type='hidden' id='answerType12706' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12706[]' id='answer-id-52597' class='answer   answerof-12706 ' value='52597'   \/><label for='answer-id-52597' id='answer-label-52597' class=' answer'><span>Payday lending may adversely affect a bank\u2019s CRA rating. Any illegal or questionable practices will negatively affect a bank\u2019s CRA performance. A payday lending program may be inconsistent with \r\nhelping to meet the community\u2019s credit needs<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12706[]' id='answer-id-52598' class='answer   answerof-12706 ' value='52598'   \/><label for='answer-id-52598' id='answer-label-52598' class=' answer'><span>The bank (or its third-party partner) must properly disclose all finance charges and fees to payday lending customers. Advertisements of the program are also subject to Truth-in-Lending requirements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12706[]' id='answer-id-52599' class='answer   answerof-12706 ' value='52599'   \/><label for='answer-id-52599' id='answer-label-52599' class=' answer'><span>Adverse action disclosures must be provided to applicants of payday loans that are denied if a consumer report (including check tracking services) was used in the credit decision<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12706[]' id='answer-id-52600' class='answer   answerof-12706 ' value='52600'   \/><label for='answer-id-52600' id='answer-label-52600' class=' answer'><span>The bank may be subject to the FOC\u2019s unfair or deceptive practices rules.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-31' style=';'><div id='questionWrap-31'  class='   watupro-question-id-12707'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>Which of the following comes under the heading of nontraditional mortgage product risks?<\/div><input type='hidden' name='question_id[]' id='qID_31' value='12707' \/><input type='hidden' id='answerType12707' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12707[]' id='answer-id-52601' class='answer   answerof-12707 ' value='52601'   \/><label for='answer-id-52601' id='answer-label-52601' class=' answer'><span>Reduced documentation adds risk to a mortgage loan. Institutions may rely on reduced documentation in the credit underwriting process. Income and credit verification may not be obtained. Use of reduced documentation should be subject to clear policies that require more documentation when the credit risk rises<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12707[]' id='answer-id-52602' class='answer   answerof-12707 ' value='52602'   \/><label for='answer-id-52602' id='answer-label-52602' class=' answer'><span>Reduced documentation adds risk to a mortgage loan. Institutions may rely on reduced documentation in the credit underwriting process. Income and credit verification may not be obtained. Use of reduced documentation should be subject to clear policies that require more documentation when the credit risk rises<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12707[]' id='answer-id-52603' class='answer   answerof-12707 ' value='52603'   \/><label for='answer-id-52603' id='answer-label-52603' class=' answer'><span>Perform due diligence before entering into third-party relationships, including a review of the third party\u2019s \r\nGeneral competence \r\nBusiness practices and operations \r\nReputation Financial capacity \r\nInternal controls \r\nRecord of compliance with laws<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12707[]' id='answer-id-52604' class='answer   answerof-12707 ' value='52604'   \/><label for='answer-id-52604' id='answer-label-52604' class=' answer'><span>Amounts credited as recovery on a loan must not exceed all principal, finance charges, and fees previously charged off. Amounts that exceed these must be credited as income<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-32' style=';'><div id='questionWrap-32'  class='   watupro-question-id-12708'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>In Guidance on Nontraditional Mortgage Product Risks, if the institution has a concentration in a nontraditional mortgage portfolio, the institution should:<\/div><input type='hidden' name='question_id[]' id='qID_32' value='12708' \/><input type='hidden' id='answerType12708' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12708[]' id='answer-id-52605' class='answer   answerof-12708 ' value='52605'   \/><label for='answer-id-52605' id='answer-label-52605' class=' answer'><span>Have well-developed monitoring systems and risk management practices<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12708[]' id='answer-id-52606' class='answer   answerof-12708 ' value='52606'   \/><label for='answer-id-52606' id='answer-label-52606' class=' answer'><span>Monitor by originator and key borrower and portfolio characteristics<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12708[]' id='answer-id-52607' class='answer   answerof-12708 ' value='52607'   \/><label for='answer-id-52607' id='answer-label-52607' class=' answer'><span>Not understand the risk of payment shock and negative amortization<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12708[]' id='answer-id-52608' class='answer   answerof-12708 ' value='52608'   \/><label for='answer-id-52608' id='answer-label-52608' class=' answer'><span>A and B<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-33' style=';'><div id='questionWrap-33'  class='   watupro-question-id-12709'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>If the institution offers both full and reduced documentation loans and there is a pricing premium attached to the reduced documentation loan, the consumer should:<\/div><input type='hidden' name='question_id[]' id='qID_33' value='12709' \/><input type='hidden' id='answerType12709' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12709[]' id='answer-id-52609' class='answer   answerof-12709 ' value='52609'   \/><label for='answer-id-52609' id='answer-label-52609' class=' answer'><span>Be alerted to this fact<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12709[]' id='answer-id-52610' class='answer   answerof-12709 ' value='52610'   \/><label for='answer-id-52610' id='answer-label-52610' class=' answer'><span>Not be alerted to this fact<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12709[]' id='answer-id-52611' class='answer   answerof-12709 ' value='52611'   \/><label for='answer-id-52611' id='answer-label-52611' class=' answer'><span>Provide consumers with a clear statement of the options available<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12709[]' id='answer-id-52612' class='answer   answerof-12709 ' value='52612'   \/><label for='answer-id-52612' id='answer-label-52612' class=' answer'><span>Not lead consumers with payment option ARMs to choose a non-amortizing or negatively amortizing payment<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-34' style=';'><div id='questionWrap-34'  class='   watupro-question-id-12710'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>Institutions that offer nontraditional mortgage products should make sure they comply with the following, as applicable, EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_34' value='12710' \/><input type='hidden' id='answerType12710' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12710[]' id='answer-id-52613' class='answer   answerof-12710 ' value='52613'   \/><label for='answer-id-52613' id='answer-label-52613' class=' answer'><span>Truth in Lending Act<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12710[]' id='answer-id-52614' class='answer   answerof-12710 ' value='52614'   \/><label for='answer-id-52614' id='answer-label-52614' class=' answer'><span>FTC Act (i.e., Unfair and Deceptive Acts and Practices)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12710[]' id='answer-id-52615' class='answer   answerof-12710 ' value='52615'   \/><label for='answer-id-52615' id='answer-label-52615' class=' answer'><span>RESTA<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12710[]' id='answer-id-52616' class='answer   answerof-12710 ' value='52616'   \/><label for='answer-id-52616' id='answer-label-52616' class=' answer'><span>State laws prohibiting deceptive trade practices<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-12711'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>Underwriting standards in Subprime Mortgage Lending include:<\/div><input type='hidden' name='question_id[]' id='qID_35' value='12711' \/><input type='hidden' id='answerType12711' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12711[]' id='answer-id-52617' class='answer   answerof-12711 ' value='52617'   \/><label for='answer-id-52617' id='answer-label-52617' class=' answer'><span>The borrower\u2019s debt-to-income ratio should include the borrower\u2019s total yearly housing-related payments as a percentage of gross monthly income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12711[]' id='answer-id-52618' class='answer   answerof-12711 ' value='52618'   \/><label for='answer-id-52618' id='answer-label-52618' class=' answer'><span>Institutions should have a clear policy governing the use of risk-layering features, such as reduced documentation loans or simultaneous second lien mortgages<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12711[]' id='answer-id-52619' class='answer   answerof-12711 ' value='52619'   \/><label for='answer-id-52619' id='answer-label-52619' class=' answer'><span>Stated income and reduced documentation loans to subprime borrowers should be made only if there are clear, documented mitigating factors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12711[]' id='answer-id-52620' class='answer   answerof-12711 ' value='52620'   \/><label for='answer-id-52620' id='answer-label-52620' class=' answer'><span>Mitigating factors should be present when risk layering features are combined in order to support the underwriting decision and the borrower\u2019s repayment capacity<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-12712'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>Below mentioned is the necessary information that should be included in the ___________. Risk of payment shock\u2015potential payment increases; how the new payment will be calculated when the introductory rate expires Ramifications of prepayment penalties\u2015how they will be calculated, when they will be imposed Ramifications of balloon payments Ramifications of the lack of escrowing for taxes and insurance\u2015who is responsible for paying taxes and insurance and the fact that their costs may be substantial Cost of reduced documentation loans\u2015whether there is a pricing premium required<\/div><input type='hidden' name='question_id[]' id='qID_36' value='12712' \/><input type='hidden' id='answerType12712' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12712[]' id='answer-id-52621' class='answer   answerof-12712 ' value='52621'   \/><label for='answer-id-52621' id='answer-label-52621' class=' answer'><span>Consumer protection principles<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12712[]' id='answer-id-52622' class='answer   answerof-12712 ' value='52622'   \/><label for='answer-id-52622' id='answer-label-52622' class=' answer'><span>Underwriting standards<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12712[]' id='answer-id-52623' class='answer   answerof-12712 ' value='52623'   \/><label for='answer-id-52623' id='answer-label-52623' class=' answer'><span>Workout arrangements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12712[]' id='answer-id-52624' class='answer   answerof-12712 ' value='52624'   \/><label for='answer-id-52624' id='answer-label-52624' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-12713'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>Supervisory review should also be the part of Subprime Mortgage Lending. It should review:<\/div><input type='hidden' name='question_id[]' id='qID_37' value='12713' \/><input type='hidden' id='answerType12713' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12713[]' id='answer-id-52625' class='answer   answerof-12713 ' value='52625'   \/><label for='answer-id-52625' id='answer-label-52625' class=' answer'><span>Regulatory agencies will continue to focus on risk management review and consumer compliance processes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12713[]' id='answer-id-52626' class='answer   answerof-12713 ' value='52626'   \/><label for='answer-id-52626' id='answer-label-52626' class=' answer'><span>Hiring and Training of personnel<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12713[]' id='answer-id-52627' class='answer   answerof-12713 ' value='52627'   \/><label for='answer-id-52627' id='answer-label-52627' class=' answer'><span>Agencies will continue to take action against institutions that violate consumer protection laws or fair lending laws or that engages in unfair or deceptive acts or practices or in unsafe or unsound lending practices<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12713[]' id='answer-id-52628' class='answer   answerof-12713 ' value='52628'   \/><label for='answer-id-52628' id='answer-label-52628' class=' answer'><span>Applicability of prepayment penalties<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-12714'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>The act limited balloon payments in consumer leases and enabled consumers to compare lease terms with credit terms where appropriate. The act was implemented by Regulation M (Consumer Leasing). It requires disclosures to consumers before consummation of the lease agreement. <br \/>\r<br>This act is:<\/div><input type='hidden' name='question_id[]' id='qID_38' value='12714' \/><input type='hidden' id='answerType12714' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12714[]' id='answer-id-52629' class='answer   answerof-12714 ' value='52629'   \/><label for='answer-id-52629' id='answer-label-52629' class=' answer'><span>Consumer leasing act<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12714[]' id='answer-id-52630' class='answer   answerof-12714 ' value='52630'   \/><label for='answer-id-52630' id='answer-label-52630' class=' answer'><span>Risk disclosure act<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12714[]' id='answer-id-52631' class='answer   answerof-12714 ' value='52631'   \/><label for='answer-id-52631' id='answer-label-52631' class=' answer'><span>ALLL<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12714[]' id='answer-id-52632' class='answer   answerof-12714 ' value='52632'   \/><label for='answer-id-52632' id='answer-label-52632' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-39' style=';'><div id='questionWrap-39'  class='   watupro-question-id-12715'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Content of segregated disclosures in Consumer Leasing Act include all of the following EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_39' value='12715' \/><input type='hidden' id='answerType12715' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12715[]' id='answer-id-52633' class='answer   answerof-12715 ' value='52633'   \/><label for='answer-id-52633' id='answer-label-52633' class=' answer'><span>Amount due at lease signing or delivery, itemized by type and amount, including: \r\nRefundable security deposit \r\nAdvance monthly or other periodic payment \r\nCapitalized cost reduction \r\nAn itemization of how the amount due will be paid, by type and amount (only required in a motor vehicle lease), using the model form<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12715[]' id='answer-id-52634' class='answer   answerof-12715 ' value='52634'   \/><label for='answer-id-52634' id='answer-label-52634' class=' answer'><span>Number, amount, and due date of payments scheduled and the total amount of periodic payments<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12715[]' id='answer-id-52635' class='answer   answerof-12715 ' value='52635'   \/><label for='answer-id-52635' id='answer-label-52635' class=' answer'><span>In an open-end lease, the descriptive statement \u201cYou will owe an additional amount if the actual value of the vehicle is less than the residual value\u201d<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12715[]' id='answer-id-52636' class='answer   answerof-12715 ' value='52636'   \/><label for='answer-id-52636' id='answer-label-52636' class=' answer'><span>If there are multiple items of property, the property description may be separate<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-40' style=';'><div id='questionWrap-40'  class='   watupro-question-id-12716'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>In a motor vehicle lease, a mathematical progression showing how the periodic payment is derived, containing the following information:<\/div><input type='hidden' name='question_id[]' id='qID_40' value='12716' \/><input type='hidden' id='answerType12716' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12716[]' id='answer-id-52637' class='answer   answerof-12716 ' value='52637'   \/><label for='answer-id-52637' id='answer-label-52637' class=' answer'><span>Gross capitalized cost (including the agreed-on value of the vehicle)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12716[]' id='answer-id-52638' class='answer   answerof-12716 ' value='52638'   \/><label for='answer-id-52638' id='answer-label-52638' class=' answer'><span>Rent charge (the difference between the total of base payment over the lease term minus the depreciation and any amortized amounts)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12716[]' id='answer-id-52639' class='answer   answerof-12716 ' value='52639'   \/><label for='answer-id-52639' id='answer-label-52639' class=' answer'><span>Itemization of other charges that are part of the periodic payment<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12716[]' id='answer-id-52640' class='answer   answerof-12716 ' value='52640'   \/><label for='answer-id-52640' id='answer-label-52640' class=' answer'><span>All of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-41' style=';'><div id='questionWrap-41'  class='   watupro-question-id-12717'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>41. <\/span>Which one of the following should be included in an early termination notice in case of the termination from consumer leasing agreement?<\/div><input type='hidden' name='question_id[]' id='qID_41' value='12717' \/><input type='hidden' id='answerType12717' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12717[]' id='answer-id-52641' class='answer   answerof-12717 ' value='52641'   \/><label for='answer-id-52641' id='answer-label-52641' class=' answer'><span>A warning to the consumer that a substantial charge may result from early termination (required only in a motor vehicle lease)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12717[]' id='answer-id-52642' class='answer   answerof-12717 ' value='52642'   \/><label for='answer-id-52642' id='answer-label-52642' class=' answer'><span>A statement of the conditions under which the lessee or lessor may terminate the lease prior to the end of the lease term<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12717[]' id='answer-id-52643' class='answer   answerof-12717 ' value='52643'   \/><label for='answer-id-52643' id='answer-label-52643' class=' answer'><span>The purchase option at the end of the lease term<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12717[]' id='answer-id-52644' class='answer   answerof-12717 ' value='52644'   \/><label for='answer-id-52644' id='answer-label-52644' class=' answer'><span>The amount of any penalty or other charge for early termination (the penalty must be reasonable)<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-42' style=';'><div id='questionWrap-42'  class='   watupro-question-id-12718'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>42. <\/span>In Consumer Leasing Act Content of non-segregated disclosures may be made separately or as part of another document (such as the lease agreement); however, other information cannot be stated, used, or placed so as to mislead or confuse the consumer. <br \/>\r<br>Other disclosures include all of the following EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_42' value='12718' \/><input type='hidden' id='answerType12718' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12718[]' id='answer-id-52645' class='answer   answerof-12718 ' value='52645'   \/><label for='answer-id-52645' id='answer-label-52645' class=' answer'><span>A statement of the conditions under which the lessee or lessor may terminate the lease before the end of the lease term, along with the amount (or a description of the method of how the amount is determined) of any penalty or other charge for early termination<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12718[]' id='answer-id-52646' class='answer   answerof-12718 ' value='52646'   \/><label for='answer-id-52646' id='answer-label-52646' class=' answer'><span>Whether the lessee has the option to purchase the leased property during the lease term and, if applicable, the purchase price (or method for determining it) and when the lessee may exercise it<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12718[]' id='answer-id-52647' class='answer   answerof-12718 ' value='52647'   \/><label for='answer-id-52647' id='answer-label-52647' class=' answer'><span>The lessee\u2019s right to an independent appraisal of the property if the lessee\u2019s liability at the end of the lease is based on the realized value of the leased property, and that the appraisal will be binding on all parties<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12718[]' id='answer-id-52648' class='answer   answerof-12718 ' value='52648'   \/><label for='answer-id-52648' id='answer-label-52648' class=' answer'><span>A statement of maintenance responsibilities including the counter bank responsible and a description of the responsibility<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-43' style=';'><div id='questionWrap-43'  class='   watupro-question-id-12719'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>43. <\/span>Under Renegotiations, extensions, and assumptions-12 CFR 213.5; any lease that is renegotiated or extended by longer than six months is considered to be a new lease, subject to new disclosure requirements, except when:<\/div><input type='hidden' name='question_id[]' id='qID_43' value='12719' \/><input type='hidden' id='answerType12719' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12719[]' id='answer-id-52649' class='answer   answerof-12719 ' value='52649'   \/><label for='answer-id-52649' id='answer-label-52649' class=' answer'><span>One or more payments are deferred, whether or not there is a charge for the deferral<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12719[]' id='answer-id-52650' class='answer   answerof-12719 ' value='52650'   \/><label for='answer-id-52650' id='answer-label-52650' class=' answer'><span>Lease property is substituted with property of substantially equivalent or greater value, if no other lease terms are changed<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12719[]' id='answer-id-52651' class='answer   answerof-12719 ' value='52651'   \/><label for='answer-id-52651' id='answer-label-52651' class=' answer'><span>In a multiple-item lease, property is added, deleted, or substituted provided the average periodic payment does not change by more than 35 percent<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12719[]' id='answer-id-52652' class='answer   answerof-12719 ' value='52652'   \/><label for='answer-id-52652' id='answer-label-52652' class=' answer'><span>There is an agreement resulting from a pre-order<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-44' style=';'><div id='questionWrap-44'  class='   watupro-question-id-12720'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>44. <\/span>In Advertising-12 CFR 213.7, if a percentage rate is used in an advertisement, it cannot be more prominent than any other disclosure, EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_44' value='12720' \/><input type='hidden' id='answerType12720' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12720[]' id='answer-id-52653' class='answer   answerof-12720 ' value='52653'   \/><label for='answer-id-52653' id='answer-label-52653' class=' answer'><span>For the warning regarding the limitation of the rate as a measurement of cost<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12720[]' id='answer-id-52654' class='answer   answerof-12720 ' value='52654'   \/><label for='answer-id-52654' id='answer-label-52654' class=' answer'><span>For beginning at least 3 days before and ending at least 10 days after the broadcast<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12720[]' id='answer-id-52655' class='answer   answerof-12720 ' value='52655'   \/><label for='answer-id-52655' id='answer-label-52655' class=' answer'><span>For required disclosures in advertisements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12720[]' id='answer-id-52656' class='answer   answerof-12720 ' value='52656'   \/><label for='answer-id-52656' id='answer-label-52656' class=' answer'><span>For an advertisement accessed in electronic form<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-45' style=';'><div id='questionWrap-45'  class='   watupro-question-id-12721'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>45. <\/span>Under Consumer Leasing Act Enforcement-15 USC 1667d section FIRREA penalties include:<\/div><input type='hidden' name='question_id[]' id='qID_45' value='12721' \/><input type='hidden' id='answerType12721' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12721[]' id='answer-id-52657' class='answer   answerof-12721 ' value='52657'   \/><label for='answer-id-52657' id='answer-label-52657' class=' answer'><span>Penalties up to $8,500 per day for violations of laws and regulations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12721[]' id='answer-id-52658' class='answer   answerof-12721 ' value='52658'   \/><label for='answer-id-52658' id='answer-label-52658' class=' answer'><span>Penalties up to $37,500 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<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12721[]' id='answer-id-52659' class='answer   answerof-12721 ' value='52659'   \/><label for='answer-id-52659' id='answer-label-52659' class=' answer'><span>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<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12721[]' id='answer-id-52660' class='answer   answerof-12721 ' value='52660'   \/><label for='answer-id-52660' id='answer-label-52660' class=' answer'><span>Penalties up to $9,500 per day for violations of laws and regulations<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-46' style=';'><div id='questionWrap-46'  class='   watupro-question-id-12722'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>46. <\/span>_____________ requires that a statement of purpose be obtained from borrowers whose loans are to be greater than $100,000 and that will be secured by margin stock. Loans made for the purpose of purchasing margin stock are subject to additional limitations<\/div><input type='hidden' name='question_id[]' id='qID_46' value='12722' \/><input type='hidden' id='answerType12722' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12722[]' id='answer-id-52661' class='answer   answerof-12722 ' value='52661'   \/><label for='answer-id-52661' id='answer-label-52661' class=' answer'><span>Regulation U<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12722[]' id='answer-id-52662' class='answer   answerof-12722 ' value='52662'   \/><label for='answer-id-52662' id='answer-label-52662' class=' answer'><span>Regulation V<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12722[]' id='answer-id-52663' class='answer   answerof-12722 ' value='52663'   \/><label for='answer-id-52663' id='answer-label-52663' class=' answer'><span>Regulation Z<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12722[]' id='answer-id-52664' class='answer   answerof-12722 ' value='52664'   \/><label for='answer-id-52664' id='answer-label-52664' class=' answer'><span>Regulation X<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-47' style=';'><div id='questionWrap-47'  class='   watupro-question-id-12723'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>47. <\/span>An exempted borrower is a member of a national securities exchange or a registered broker or dealer who:<\/div><input type='hidden' name='question_id[]' id='qID_47' value='12723' \/><input type='hidden' id='answerType12723' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12723[]' id='answer-id-52665' class='answer   answerof-12723 ' value='52665'   \/><label for='answer-id-52665' id='answer-label-52665' class=' answer'><span>Maintains at least 1,000 active accounts annually for persons other than brokers, dealers, and persons associated with brokers and dealers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12723[]' id='answer-id-52666' class='answer   answerof-12723 ' value='52666'   \/><label for='answer-id-52666' id='answer-label-52666' class=' answer'><span>Earns at least $10 million in gross revenues on an annual basis from transactions with persons other than brokers, dealers, and persons associated with brokers and dealers, or<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12723[]' id='answer-id-52667' class='answer   answerof-12723 ' value='52667'   \/><label for='answer-id-52667' id='answer-label-52667' class=' answer'><span>Earns at least 10 percent of its gross revenues on an annual basis from transactions with persons other than brokers, dealers, and persons associated with brokers and dealers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12723[]' id='answer-id-52668' class='answer   answerof-12723 ' value='52668'   \/><label for='answer-id-52668' id='answer-label-52668' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-48' style=';'><div id='questionWrap-48'  class='   watupro-question-id-12724'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>48. <\/span>Banks may extend and maintain purpose credit without complying with Regulation U if the credit is extended:<\/div><input type='hidden' name='question_id[]' id='qID_48' value='12724' \/><input type='hidden' id='answerType12724' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12724[]' id='answer-id-52669' class='answer   answerof-12724 ' value='52669'   \/><label for='answer-id-52669' id='answer-label-52669' class=' answer'><span>To a bank auditor<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12724[]' id='answer-id-52670' class='answer   answerof-12724 ' value='52670'   \/><label for='answer-id-52670' id='answer-label-52670' class=' answer'><span>To a qualified employee stock ownership plan running previously but not now<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12724[]' id='answer-id-52671' class='answer   answerof-12724 ' value='52671'   \/><label for='answer-id-52671' id='answer-label-52671' class=' answer'><span>To any customer, other than a broker or dealer, to temporarily finance the purchase or sale of securities for prompt delivery, if the credit is to be repaid in the ordinary course of business on the completion of the transaction<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12724[]' id='answer-id-52672' class='answer   answerof-12724 ' value='52672'   \/><label for='answer-id-52672' id='answer-label-52672' class=' answer'><span>To enable a customer to meet emergency expenses not reasonably foreseen and if the bank obtains a good faith statement from the customer. Emergency expenses are ones related to unforeseen death or disability, not a chance to make a profit.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-49' style=';'><div id='questionWrap-49'  class='   watupro-question-id-12725'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>49. <\/span>Margin stock includes:<\/div><input type='hidden' name='question_id[]' id='qID_49' value='12725' \/><input type='hidden' id='answerType12725' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12725[]' id='answer-id-52673' class='answer   answerof-12725 ' value='52673'   \/><label for='answer-id-52673' id='answer-label-52673' class=' answer'><span>Equity securities registered or having delisted trading privileges on a national securities exchange:<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12725[]' id='answer-id-52674' class='answer   answerof-12725 ' value='52674'   \/><label for='answer-id-52674' id='answer-label-52674' class=' answer'><span>Over-the-counter (OTC) securities that do not qualify for trading in the National Market System<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12725[]' id='answer-id-52675' class='answer   answerof-12725 ' value='52675'   \/><label for='answer-id-52675' id='answer-label-52675' class=' answer'><span>Warrants or rights to subscribe to or purchase a common stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12725[]' id='answer-id-52676' class='answer   answerof-12725 ' value='52676'   \/><label for='answer-id-52676' id='answer-label-52676' class=' answer'><span>Securities issued by an investment company registered under the Investment Company Act, except for: \r\nA company licensed under the Small Business Investment Company Act A company that has at least 95 percent of its assets continuously invested in exempted securities; or A company that issues face-amount certificates; or A company that is considered a money market fund under the SEC Rules<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-50' style=';'><div id='questionWrap-50'  class='   watupro-question-id-12726'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>50. <\/span>Purpose credit is credit for all of the following EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_50' value='12726' \/><input type='hidden' id='answerType12726' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12726[]' id='answer-id-52677' class='answer   answerof-12726 ' value='52677'   \/><label for='answer-id-52677' id='answer-label-52677' class=' answer'><span>Immediate purpose of purchasing or carrying margin stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12726[]' id='answer-id-52678' class='answer   answerof-12726 ' value='52678'   \/><label for='answer-id-52678' id='answer-label-52678' class=' answer'><span>Incidental purpose of purchasing or carrying margin stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12726[]' id='answer-id-52679' class='answer   answerof-12726 ' value='52679'   \/><label for='answer-id-52679' id='answer-label-52679' class=' answer'><span>Ultimate purpose of purchasing or carrying margin stock<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12726[]' id='answer-id-52680' class='answer   answerof-12726 ' value='52680'   \/><label for='answer-id-52680' id='answer-label-52680' class=' answer'><span>Accidental purpose of purchasing or carrying margin stock<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-51' style=';'><div id='questionWrap-51'  class='   watupro-question-id-12727'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>51. <\/span>Under collateral requirements-12CFR 221.7, maximum loan value of margin stock is:<\/div><input type='hidden' name='question_id[]' id='qID_51' value='12727' \/><input type='hidden' id='answerType12727' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12727[]' id='answer-id-52681' class='answer   answerof-12727 ' value='52681'   \/><label for='answer-id-52681' id='answer-label-52681' class=' answer'><span>Currently 50 percent of the current market value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12727[]' id='answer-id-52682' class='answer   answerof-12727 ' value='52682'   \/><label for='answer-id-52682' id='answer-label-52682' class=' answer'><span>Currently 70 percent of the current market value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12727[]' id='answer-id-52683' class='answer   answerof-12727 ' value='52683'   \/><label for='answer-id-52683' id='answer-label-52683' class=' answer'><span>Subject to change by the Federal Reserve<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12727[]' id='answer-id-52684' class='answer   answerof-12727 ' value='52684'   \/><label for='answer-id-52684' id='answer-label-52684' class=' answer'><span>Subject to change by the Equity Reserve<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-52' style=';'><div id='questionWrap-52'  class='   watupro-question-id-12728'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>52. <\/span>What is actually a Single credit rule-12 CFR 221.3(d)?<\/div><input type='hidden' name='question_id[]' id='qID_52' value='12728' \/><input type='hidden' id='answerType12728' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12728[]' id='answer-id-52685' class='answer   answerof-12728 ' value='52685'   \/><label for='answer-id-52685' id='answer-label-52685' class=' answer'><span>All purpose credit extended to a customer will be considered to be a single credit for purposes of Regulation U<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12728[]' id='answer-id-52686' class='answer   answerof-12728 ' value='52686'   \/><label for='answer-id-52686' id='answer-label-52686' class=' answer'><span>The value of all collateral securing all-purpose loans will be aggregated to determine if it is sufficient<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12728[]' id='answer-id-52687' class='answer   answerof-12728 ' value='52687'   \/><label for='answer-id-52687' id='answer-label-52687' class=' answer'><span>If unsecured purpose credit is extended before secured purpose credit, the loans need only be combined for purposes of applying the withdrawal and substitution rules<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12728[]' id='answer-id-52688' class='answer   answerof-12728 ' value='52688'   \/><label for='answer-id-52688' id='answer-label-52688' class=' answer'><span>All of the above<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-53' style=';'><div id='questionWrap-53'  class='   watupro-question-id-12729'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>53. <\/span>Which one of the following types of credit may be extended in Requirements case-12 CFR 221.3, 221.7:<\/div><input type='hidden' name='question_id[]' id='qID_53' value='12729' \/><input type='hidden' id='answerType12729' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12729[]' id='answer-id-52689' class='answer   answerof-12729 ' value='52689'   \/><label for='answer-id-52689' id='answer-label-52689' class=' answer'><span>Temporary advances in payment against delivery transactions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12729[]' id='answer-id-52690' class='answer   answerof-12729 ' value='52690'   \/><label for='answer-id-52690' id='answer-label-52690' class=' answer'><span>Capital contribution leases<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12729[]' id='answer-id-52691' class='answer   answerof-12729 ' value='52691'   \/><label for='answer-id-52691' id='answer-label-52691' class=' answer'><span>Credit to clearing banking authorities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12729[]' id='answer-id-52692' class='answer   answerof-12729 ' value='52692'   \/><label for='answer-id-52692' id='answer-label-52692' class=' answer'><span>Underwriter loans<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-54' style=';'><div id='questionWrap-54'  class='   watupro-question-id-12730'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>54. <\/span>OCC advisory on credit card practice-AL-2004-10 in credit card practices covers:<\/div><input type='hidden' name='question_id[]' id='qID_54' value='12730' \/><input type='hidden' id='answerType12730' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12730[]' id='answer-id-52693' class='answer   answerof-12730 ' value='52693'   \/><label for='answer-id-52693' id='answer-label-52693' class=' answer'><span>Finance and credit management practices that may be unfair or deceptive and expose a bank to compliance and reputation risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12730[]' id='answer-id-52694' class='answer   answerof-12730 ' value='52694'   \/><label for='answer-id-52694' id='answer-label-52694' class=' answer'><span>Marketing and account management practices that may be unfair or deceptive and expose a bank to compliance and reputation risk<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12730[]' id='answer-id-52695' class='answer   answerof-12730 ' value='52695'   \/><label for='answer-id-52695' id='answer-label-52695' class=' answer'><span>Marketing and account management practices<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12730[]' id='answer-id-52696' class='answer   answerof-12730 ' value='52696'   \/><label for='answer-id-52696' id='answer-label-52696' class=' answer'><span>Marketing and account management practices that may be fair and can\u2019t expose a bank to compliance and reputation risk<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-55' style=';'><div id='questionWrap-55'  class='   watupro-question-id-12731'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>55. <\/span>Practice\/s addressed in the guidance of OCC advisory on credit card practices-AL-2004- 10 is\/are:<\/div><input type='hidden' name='question_id[]' id='qID_55' value='12731' \/><input type='hidden' id='answerType12731' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12731[]' id='answer-id-52697' class='answer   answerof-12731 ' value='52697'   \/><label for='answer-id-52697' id='answer-label-52697' class=' answer'><span>\u201cUp-to\u201d marketing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12731[]' id='answer-id-52698' class='answer   answerof-12731 ' value='52698'   \/><label for='answer-id-52698' id='answer-label-52698' class=' answer'><span>Promotional rate marketing<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12731[]' id='answer-id-52699' class='answer   answerof-12731 ' value='52699'   \/><label for='answer-id-52699' id='answer-label-52699' class=' answer'><span>Repricing of accounts and other changes in credit terms<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12731[]' id='answer-id-52700' class='answer   answerof-12731 ' value='52700'   \/><label for='answer-id-52700' id='answer-label-52700' class=' answer'><span>Lending to insiders<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-56' style=';'><div id='questionWrap-56'  class='   watupro-question-id-12732'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>56. <\/span>Regulation O both restricts lending to insiders and requires that certain loans to insiders be disclosed. Each banking agency has adopted the provisions of Regulation O for administrative enforcement purposes. These were not found to be useful in preventing insider lending abuse. <br \/>\r<br>Regulation O governs which of the following areas major areas:<\/div><input type='hidden' name='question_id[]' id='qID_56' value='12732' \/><input type='hidden' id='answerType12732' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12732[]' id='answer-id-52701' class='answer   answerof-12732 ' value='52701'   \/><label for='answer-id-52701' id='answer-label-52701' class=' answer'><span>Lending to insiders<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12732[]' id='answer-id-52702' class='answer   answerof-12732 ' value='52702'   \/><label for='answer-id-52702' id='answer-label-52702' class=' answer'><span>Disclosures of loans made to insiders<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12732[]' id='answer-id-52703' class='answer   answerof-12732 ' value='52703'   \/><label for='answer-id-52703' id='answer-label-52703' class=' answer'><span>Both of these<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12732[]' id='answer-id-52704' class='answer   answerof-12732 ' value='52704'   \/><label for='answer-id-52704' id='answer-label-52704' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-57' style=';'><div id='questionWrap-57'  class='   watupro-question-id-12733'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>57. <\/span>Unless excluded by a board resolution or the bylaws, the following officers will be considered to be executive officers EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_57' value='12733' \/><input type='hidden' id='answerType12733' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12733[]' id='answer-id-52705' class='answer   answerof-12733 ' value='52705'   \/><label for='answer-id-52705' id='answer-label-52705' class=' answer'><span>Chairman of the board<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12733[]' id='answer-id-52706' class='answer   answerof-12733 ' value='52706'   \/><label for='answer-id-52706' id='answer-label-52706' class=' answer'><span>President<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12733[]' id='answer-id-52707' class='answer   answerof-12733 ' value='52707'   \/><label for='answer-id-52707' id='answer-label-52707' class=' answer'><span>Each vice-president and above (for example, senior vice-president, executive vice-president, and so on)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12733[]' id='answer-id-52708' class='answer   answerof-12733 ' value='52708'   \/><label for='answer-id-52708' id='answer-label-52708' class=' answer'><span>Brokerage house\u2019s vice president<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-58' style=';'><div id='questionWrap-58'  class='   watupro-question-id-12734'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>58. <\/span>____________ is any company of which the bank is a subsidiary or any other subsidiary of the same company of which the bank is a subsidiary.<\/div><input type='hidden' name='question_id[]' id='qID_58' value='12734' \/><input type='hidden' id='answerType12734' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12734[]' id='answer-id-52709' class='answer   answerof-12734 ' value='52709'   \/><label for='answer-id-52709' id='answer-label-52709' class=' answer'><span>Brokerage House<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12734[]' id='answer-id-52710' class='answer   answerof-12734 ' value='52710'   \/><label for='answer-id-52710' id='answer-label-52710' class=' answer'><span>Treasury<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12734[]' id='answer-id-52711' class='answer   answerof-12734 ' value='52711'   \/><label for='answer-id-52711' id='answer-label-52711' class=' answer'><span>FDIC<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12734[]' id='answer-id-52712' class='answer   answerof-12734 ' value='52712'   \/><label for='answer-id-52712' id='answer-label-52712' class=' answer'><span>Affiliates<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-59' style=';'><div id='questionWrap-59'  class='   watupro-question-id-12735'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>59. <\/span>It is an extension of credit will be deemed to be made to an insider if the proceeds are transferred to the insider or used for the insider\u2019s benefit. This rule does not apply if the credit is made on substantially the same terms and conditions as those made to a noninsider and if the proceeds are used in a bona fide transaction involving the acquisition of property, goods, or services from the insider. <br \/>\r<br>What is it?<\/div><input type='hidden' name='question_id[]' id='qID_59' value='12735' \/><input type='hidden' id='answerType12735' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12735[]' id='answer-id-52713' class='answer   answerof-12735 ' value='52713'   \/><label for='answer-id-52713' id='answer-label-52713' class=' answer'><span>Tangible economic benefit rule012 CFR 215.3(f)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12735[]' id='answer-id-52714' class='answer   answerof-12735 ' value='52714'   \/><label for='answer-id-52714' id='answer-label-52714' class=' answer'><span>Extension of credit-12 CFR 215.3<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12735[]' id='answer-id-52715' class='answer   answerof-12735 ' value='52715'   \/><label for='answer-id-52715' id='answer-label-52715' class=' answer'><span>Lending restrictions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12735[]' id='answer-id-52716' class='answer   answerof-12735 ' value='52716'   \/><label for='answer-id-52716' id='answer-label-52716' class=' answer'><span>Intangible economic-benefit rule<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-60' style=';'><div id='questionWrap-60'  class='   watupro-question-id-12736'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>60. <\/span>Lending restrictions under requirements 12 CFR 215; 12 CFR 337, 12 CFR 349 are all of the following EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_60' value='12736' \/><input type='hidden' id='answerType12736' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12736[]' id='answer-id-52717' class='answer   answerof-12736 ' value='52717'   \/><label for='answer-id-52717' id='answer-label-52717' class=' answer'><span>Banks may not lend to executive officers, directors, principal shareholders, or any of their related interests unless the credit is made on substantially the same terms and following credit underwriting standards that are not less stringent than those on loans to persons who are not insiders; however, if the bank has a benefit program widely available to its employees, it may lend to insiders on the same terms and conditions as it lends to its other employees, pursuant to its employee benefit program<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12736[]' id='answer-id-52718' class='answer   answerof-12736 ' value='52718'   \/><label for='answer-id-52718' id='answer-label-52718' class=' answer'><span>Banks may not lend to any executive officer, director, or principal shareholder, and to any of their related interests, amounts that exceed the higher of $25,000 or 5 percent of the bank\u2019s capital and unimpaired surplus (up to a maximum of $500,000) in the aggregate unless The credit is approved in advance by the board of directors The interested party has abstained from voting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12736[]' id='answer-id-52719' class='answer   answerof-12736 ' value='52719'   \/><label for='answer-id-52719' id='answer-label-52719' class=' answer'><span>Prior approval is not needed for each draw against a line of credit provided the line of credit was approved within the preceding 14 months, based on the then-current financial statement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12736[]' id='answer-id-52720' class='answer   answerof-12736 ' value='52720'   \/><label for='answer-id-52720' id='answer-label-52720' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-61' style=';'><div id='questionWrap-61'  class='   watupro-question-id-12737'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>61. <\/span>The maximum amount of credit that a bank may extend to all of its insiders is known as the ______________and is equal to 100 percent of its unimpaired capital and surplus.<\/div><input type='hidden' name='question_id[]' id='qID_61' value='12737' \/><input type='hidden' id='answerType12737' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12737[]' id='answer-id-52721' class='answer   answerof-12737 ' value='52721'   \/><label for='answer-id-52721' id='answer-label-52721' class=' answer'><span>Aggregate lending limit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12737[]' id='answer-id-52722' class='answer   answerof-12737 ' value='52722'   \/><label for='answer-id-52722' id='answer-label-52722' class=' answer'><span>Loan filliping<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12737[]' id='answer-id-52723' class='answer   answerof-12737 ' value='52723'   \/><label for='answer-id-52723' id='answer-label-52723' class=' answer'><span>Equity stripping<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12737[]' id='answer-id-52724' class='answer   answerof-12737 ' value='52724'   \/><label for='answer-id-52724' id='answer-label-52724' class=' answer'><span>Tangible economic benefit<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-62' style=';'><div id='questionWrap-62'  class='   watupro-question-id-12738'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>62. <\/span>On a written request from a member of the public, the bank must disclose the names of each of its executive officers and principal shareholders to whom the bank had aggregate credit outstanding at the end of the latest quarter that equaled or exceeded:<\/div><input type='hidden' name='question_id[]' id='qID_62' value='12738' \/><input type='hidden' id='answerType12738' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12738[]' id='answer-id-52725' class='answer   answerof-12738 ' value='52725'   \/><label for='answer-id-52725' id='answer-label-52725' class=' answer'><span>10 percent of the bank\u2019s capital, and unimpaired surplus or $500,000, whichever is less; no disclosure is required if the aggregate credit was $30,000 or less. Disclosure of individual loan amounts is not required<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12738[]' id='answer-id-52726' class='answer   answerof-12738 ' value='52726'   \/><label for='answer-id-52726' id='answer-label-52726' class=' answer'><span>5 percent of the bank\u2019s capital, and unimpaired surplus or $500,000, whichever is less; no disclosure is required if the aggregate credit was $25,000 or less. Disclosure of individual loan amounts is not required<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12738[]' id='answer-id-52727' class='answer   answerof-12738 ' value='52727'   \/><label for='answer-id-52727' id='answer-label-52727' class=' answer'><span>6 percent of the bank\u2019s capital, and unimpaired surplus or $100,000, whichever is less; no disclosure is required if the aggregate credit was $25,000 or less. Disclosure of individual loan amounts is not required<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12738[]' id='answer-id-52728' class='answer   answerof-12738 ' value='52728'   \/><label for='answer-id-52728' id='answer-label-52728' class=' answer'><span>5 percent of the bank\u2019s capital, and unimpaired surplus or $100,000, whichever is less; no disclosure is required if the aggregate credit was $35,000 or less. Disclosure of individual loan amounts is not required<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-63' style=';'><div id='questionWrap-63'  class='   watupro-question-id-12739'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>63. <\/span>Record keeping requirements-12 CFR 215.8 elaborates that:<\/div><input type='hidden' name='question_id[]' id='qID_63' value='12739' \/><input type='hidden' id='answerType12739' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12739[]' id='answer-id-52729' class='answer   answerof-12739 ' value='52729'   \/><label for='answer-id-52729' id='answer-label-52729' class=' answer'><span>Each bank must establish a recordkeeping system to keep records necessary for compliance with Regulation O<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12739[]' id='answer-id-52730' class='answer   answerof-12739 ' value='52730'   \/><label for='answer-id-52730' id='answer-label-52730' class=' answer'><span>Banks may use any alternative recordkeeping method for insiders of affiliates if the bank\u2019s regulatory agency determines the bank\u2019s method is at least as effective as that required by Regulation O<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12739[]' id='answer-id-52731' class='answer   answerof-12739 ' value='52731'   \/><label for='answer-id-52731' id='answer-label-52731' class=' answer'><span>All recordkeeping systems must Include either an annual survey of insiders to identify related interests, or a requirement as part of each extension of credit that the borrower indicates whether he or she is an insider. Provide for the maintenance of records of all credit to insiders, including the amounts and terms<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12739[]' id='answer-id-52732' class='answer   answerof-12739 ' value='52732'   \/><label for='answer-id-52732' id='answer-label-52732' class=' answer'><span>All of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-64' style=';'><div id='questionWrap-64'  class='   watupro-question-id-12740'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>64. <\/span>Debt Cancellation Contracts and Debt Suspension Agreements coverage includes:<\/div><input type='hidden' name='question_id[]' id='qID_64' value='12740' \/><input type='hidden' id='answerType12740' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12740[]' id='answer-id-52733' class='answer   answerof-12740 ' value='52733'   \/><label for='answer-id-52733' id='answer-label-52733' class=' answer'><span>National banks that issue debt cancellation contracts and debt suspension agreements with borrowers in connection with loans for personal, family, or household purposes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12740[]' id='answer-id-52734' class='answer   answerof-12740 ' value='52734'   \/><label for='answer-id-52734' id='answer-label-52734' class=' answer'><span>A national bank may not engage in any practice, including advertising, which would cause a reasonable person to be misled with respect to DSAs and DCCs<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12740[]' id='answer-id-52735' class='answer   answerof-12740 ' value='52735'   \/><label for='answer-id-52735' id='answer-label-52735' class=' answer'><span>A bank must provide the long-form disclosures in writing before the customer completes the purchase of a contract. If the solicitation occurs in person, the long-form disclosures must be provided at that time<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12740[]' id='answer-id-52736' class='answer   answerof-12740 ' value='52736'   \/><label for='answer-id-52736' id='answer-label-52736' class=' answer'><span>A bank must make the short-form disclosures orally at the time the bank first solicits the contract<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-65' style=';'><div id='questionWrap-65'  class='   watupro-question-id-12741'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>65. <\/span>This is a loan term or an arrangement that modifies a loan term under which a bank agrees to cancel all or part of a customer\u2019s loan obligation on the occurrence of a specified event. It may be included as a part of the loan documents, or it may be a separate agreement. <br \/>\r<br>What is it?<\/div><input type='hidden' name='question_id[]' id='qID_65' value='12741' \/><input type='hidden' id='answerType12741' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12741[]' id='answer-id-52737' class='answer   answerof-12741 ' value='52737'   \/><label for='answer-id-52737' id='answer-label-52737' class=' answer'><span>Debt suspension agreement (DSA)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12741[]' id='answer-id-52738' class='answer   answerof-12741 ' value='52738'   \/><label for='answer-id-52738' id='answer-label-52738' class=' answer'><span>Anti-dying<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12741[]' id='answer-id-52739' class='answer   answerof-12741 ' value='52739'   \/><label for='answer-id-52739' id='answer-label-52739' class=' answer'><span>Debt cancellation contract (DCC)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12741[]' id='answer-id-52740' class='answer   answerof-12741 ' value='52740'   \/><label for='answer-id-52740' id='answer-label-52740' class=' answer'><span>ALLL<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-66' style=';'><div id='questionWrap-66'  class='   watupro-question-id-12742'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>66. <\/span>Short-form disclosures are required in advertisements and promotional materials unless the advertisements and promotional materials are of:<\/div><input type='hidden' name='question_id[]' id='qID_66' value='12742' \/><input type='hidden' id='answerType12742' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12742[]' id='answer-id-52741' class='answer   answerof-12742 ' value='52741'   \/><label for='answer-id-52741' id='answer-label-52741' class=' answer'><span>A general nature describing or listing the products or services offered by the bank<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12742[]' id='answer-id-52742' class='answer   answerof-12742 ' value='52742'   \/><label for='answer-id-52742' id='answer-label-52742' class=' answer'><span>A specific nature describing or listing the products or services offered by the bank<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12742[]' id='answer-id-52743' class='answer   answerof-12742 ' value='52743'   \/><label for='answer-id-52743' id='answer-label-52743' class=' answer'><span>A general nature describing or special services offered by the bank<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12742[]' id='answer-id-52744' class='answer   answerof-12742 ' value='52744'   \/><label for='answer-id-52744' id='answer-label-52744' class=' answer'><span>A general nature describing competitive advantage of the bank<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-67' style=';'><div id='questionWrap-67'  class='   watupro-question-id-12743'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>67. <\/span>This is a loan term or an arrangement that modifies a loan term under which a bank agrees to suspend all or part of a customer\u2019s loan obligation on the occurrence of a specified event. It May be a part of the loan itself or a separate agreement. Does not include a loan payment deferral arrangement where the borrower or the bank can unilaterally defer a payment. <br \/>\r<br>What is it?<\/div><input type='hidden' name='question_id[]' id='qID_67' value='12743' \/><input type='hidden' id='answerType12743' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12743[]' id='answer-id-52745' class='answer   answerof-12743 ' value='52745'   \/><label for='answer-id-52745' id='answer-label-52745' class=' answer'><span>Debt suspension agreement (DSA)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12743[]' id='answer-id-52746' class='answer   answerof-12743 ' value='52746'   \/><label for='answer-id-52746' id='answer-label-52746' class=' answer'><span>Anti-dying<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12743[]' id='answer-id-52747' class='answer   answerof-12743 ' value='52747'   \/><label for='answer-id-52747' id='answer-label-52747' class=' answer'><span>Debt cancellation contract (DCC)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12743[]' id='answer-id-52748' class='answer   answerof-12743 ' value='52748'   \/><label for='answer-id-52748' id='answer-label-52748' class=' answer'><span>ALLL<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-68' style=';'><div id='questionWrap-68'  class='   watupro-question-id-12744'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>68. <\/span>Under content of disclosures long term disclosures may include the following, as applicable EXCLUDING:<\/div><input type='hidden' name='question_id[]' id='qID_68' value='12744' \/><input type='hidden' id='answerType12744' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12744[]' id='answer-id-52749' class='answer   answerof-12744 ' value='52749'   \/><label for='answer-id-52749' id='answer-label-52749' class=' answer'><span>Notification that the product is optional<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12744[]' id='answer-id-52750' class='answer   answerof-12744 ' value='52750'   \/><label for='answer-id-52750' id='answer-label-52750' class=' answer'><span>Explanation of debt-suspension agreement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12744[]' id='answer-id-52751' class='answer   answerof-12744 ' value='52751'   \/><label for='answer-id-52751' id='answer-label-52751' class=' answer'><span>Lump-sum payment of fee with no refund<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12744[]' id='answer-id-52752' class='answer   answerof-12744 ' value='52752'   \/><label for='answer-id-52752' id='answer-label-52752' class=' answer'><span>Refund of fee paid in lump sum<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-69' style=';'><div id='questionWrap-69'  class='   watupro-question-id-12745'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>69. <\/span>Banks must establish and maintain effective risk management and control processes over its DCCs and DSAs, including:<\/div><input type='hidden' name='question_id[]' id='qID_69' value='12745' \/><input type='hidden' id='answerType12745' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12745[]' id='answer-id-52753' class='answer   answerof-12745 ' value='52753'   \/><label for='answer-id-52753' id='answer-label-52753' class=' answer'><span>Appropriate recognition and financial reporting of income, expenses, assets, and liabilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12745[]' id='answer-id-52754' class='answer   answerof-12745 ' value='52754'   \/><label for='answer-id-52754' id='answer-label-52754' class=' answer'><span>Appropriate treatment of losses associated with these products<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12745[]' id='answer-id-52755' class='answer   answerof-12745 ' value='52755'   \/><label for='answer-id-52755' id='answer-label-52755' class=' answer'><span>Assessment of the adequacy of its internal controls and risk mitigation activities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12745[]' id='answer-id-52756' class='answer   answerof-12745 ' value='52756'   \/><label for='answer-id-52756' id='answer-label-52756' class=' answer'><span>Before entering into a contract, the bank must obtain the customer\u2019s written affirmative election to enter into the contract and written acknowledgement of the receipt of the disclosures<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-70' style=';'><div id='questionWrap-70'  class='   watupro-question-id-12746'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>70. <\/span>The Equal Credit Opportunity Act (ECOA) was enacted in 1974 to prevent discrimination in credit transactions. In 1975 the act was amended. <br \/>\r<br>Which of the following prohibited base\/s are now included in it?<\/div><input type='hidden' name='question_id[]' id='qID_70' value='12746' \/><input type='hidden' id='answerType12746' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12746[]' id='answer-id-52757' class='answer   answerof-12746 ' value='52757'   \/><label for='answer-id-52757' id='answer-label-52757' class=' answer'><span>National origin<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12746[]' id='answer-id-52758' class='answer   answerof-12746 ' value='52758'   \/><label for='answer-id-52758' id='answer-label-52758' class=' answer'><span>Exercise of rights under the Consumer Credit Protection Act<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12746[]' id='answer-id-52759' class='answer   answerof-12746 ' value='52759'   \/><label for='answer-id-52759' id='answer-label-52759' class=' answer'><span>Receipt of public assistance income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12746[]' id='answer-id-52760' class='answer   answerof-12746 ' value='52760'   \/><label for='answer-id-52760' id='answer-label-52760' class=' answer'><span>All of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-71' style=';'><div id='questionWrap-71'  class='   watupro-question-id-12747'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>71. <\/span>Securities credit covers credit subject to Section 7 of the Securities Exchange Act of 1934 or credit by a broker or dealer subject to regulation under the act. <br \/>\r<br>The following requirements of Regulation B do not apply EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_71' value='12747' \/><input type='hidden' id='answerType12747' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12747[]' id='answer-id-52761' class='answer   answerof-12747 ' value='52761'   \/><label for='answer-id-52761' id='answer-label-52761' class=' answer'><span>Restrictions regarding information about a spouse or former spouse, marital status, or sex of the applicant<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12747[]' id='answer-id-52762' class='answer   answerof-12747 ' value='52762'   \/><label for='answer-id-52762' id='answer-label-52762' class=' answer'><span>It is not payable by agreement in more than four installments<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12747[]' id='answer-id-52763' class='answer   answerof-12747 ' value='52763'   \/><label for='answer-id-52763' id='answer-label-52763' class=' answer'><span>Provisions relating to furnishing credit information<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12747[]' id='answer-id-52764' class='answer   answerof-12747 ' value='52764'   \/><label for='answer-id-52764' id='answer-label-52764' class=' answer'><span>Records retention requirements<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-72' style=';'><div id='questionWrap-72'  class='   watupro-question-id-12748'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>72. <\/span>Government credit<\/div><input type='hidden' name='question_id[]' id='qID_72' value='12748' \/><input type='hidden' id='answerType12748' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12748[]' id='answer-id-52765' class='answer   answerof-12748 ' value='52765'   \/><label for='answer-id-52765' id='answer-label-52765' class=' answer'><span>It is credit extended to governments or government agencies, instrumentalities, or subdivisions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12748[]' id='answer-id-52766' class='answer   answerof-12748 ' value='52766'   \/><label for='answer-id-52766' id='answer-label-52766' class=' answer'><span>It has no finance charge<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12748[]' id='answer-id-52767' class='answer   answerof-12748 ' value='52767'   \/><label for='answer-id-52767' id='answer-label-52767' class=' answer'><span>It has Records retention requirements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12748[]' id='answer-id-52768' class='answer   answerof-12748 ' value='52768'   \/><label for='answer-id-52768' id='answer-label-52768' class=' answer'><span>Only the general rule against discrimination applies to government credit<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-73' style=';'><div id='questionWrap-73'  class='   watupro-question-id-12749'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>73. <\/span>An oral or written request for credit made in accordance with the creditor\u2019s procedures for the type of credit requested. Information entered into and retained by a computer system qualifies as a written application. <br \/>\r<br>It is called:<\/div><input type='hidden' name='question_id[]' id='qID_73' value='12749' \/><input type='hidden' id='answerType12749' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12749[]' id='answer-id-52769' class='answer   answerof-12749 ' value='52769'   \/><label for='answer-id-52769' id='answer-label-52769' class=' answer'><span>Credit Application<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12749[]' id='answer-id-52770' class='answer   answerof-12749 ' value='52770'   \/><label for='answer-id-52770' id='answer-label-52770' class=' answer'><span>Credit completed application<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12749[]' id='answer-id-52771' class='answer   answerof-12749 ' value='52771'   \/><label for='answer-id-52771' id='answer-label-52771' class=' answer'><span>Initial credit approach<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12749[]' id='answer-id-52772' class='answer   answerof-12749 ' value='52772'   \/><label for='answer-id-52772' id='answer-label-52772' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-74' style=';'><div id='questionWrap-74'  class='   watupro-question-id-12750'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>74. <\/span>Definition of completed application\u201512 CFR 202.2(f) is:<\/div><input type='hidden' name='question_id[]' id='qID_74' value='12750' \/><input type='hidden' id='answerType12750' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12750[]' id='answer-id-52773' class='answer   answerof-12750 ' value='52773'   \/><label for='answer-id-52773' id='answer-label-52773' class=' answer'><span>An application for which the bank has received all the information it regularly considers in evaluation, including credit reports, verifications, and so forth<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12750[]' id='answer-id-52774' class='answer   answerof-12750 ' value='52774'   \/><label for='answer-id-52774' id='answer-label-52774' class=' answer'><span>The creditor must be reasonably diligent in collecting information to complete the application (for example, ordering credit bureau reports)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12750[]' id='answer-id-52775' class='answer   answerof-12750 ' value='52775'   \/><label for='answer-id-52775' id='answer-label-52775' class=' answer'><span>An inquiry becomes an application when the creditor evaluates information and decides to grant or decline the credit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12750[]' id='answer-id-52776' class='answer   answerof-12750 ' value='52776'   \/><label for='answer-id-52776' id='answer-label-52776' class=' answer'><span>Requests for written preapprovals to be issued by the lender are considered applications<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-75' style=';'><div id='questionWrap-75'  class='   watupro-question-id-12751'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>75. <\/span>Requirements\u201512 CFR 202.2, 202.4, 202.5, 202.6, and 202.13 say that a creditor may not request information about an application\u2019s race, color, religion, national origin, or gender except as specifically permitted by ____________or another statute such as the Home Mortgage Disclosure Act.<\/div><input type='hidden' name='question_id[]' id='qID_75' value='12751' \/><input type='hidden' id='answerType12751' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12751[]' id='answer-id-52777' class='answer   answerof-12751 ' value='52777'   \/><label for='answer-id-52777' id='answer-label-52777' class=' answer'><span>Regulation B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12751[]' id='answer-id-52778' class='answer   answerof-12751 ' value='52778'   \/><label for='answer-id-52778' id='answer-label-52778' class=' answer'><span>Regulation U<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12751[]' id='answer-id-52779' class='answer   answerof-12751 ' value='52779'   \/><label for='answer-id-52779' id='answer-label-52779' class=' answer'><span>Regulation Z<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12751[]' id='answer-id-52780' class='answer   answerof-12751 ' value='52780'   \/><label for='answer-id-52780' id='answer-label-52780' class=' answer'><span>Regulation A<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-76' style=';'><div id='questionWrap-76'  class='   watupro-question-id-12752'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>76. <\/span>________________is defined as every aspect of an applicant\u2019s dealing with a creditor, beginning with information gathering and continuing through to the servicing and collection of the loan.<\/div><input type='hidden' name='question_id[]' id='qID_76' value='12752' \/><input type='hidden' id='answerType12752' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12752[]' id='answer-id-52781' class='answer   answerof-12752 ' value='52781'   \/><label for='answer-id-52781' id='answer-label-52781' class=' answer'><span>Credit terms<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12752[]' id='answer-id-52782' class='answer   answerof-12752 ' value='52782'   \/><label for='answer-id-52782' id='answer-label-52782' class=' answer'><span>Credit rating<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12752[]' id='answer-id-52783' class='answer   answerof-12752 ' value='52783'   \/><label for='answer-id-52783' id='answer-label-52783' class=' answer'><span>Credit transaction<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12752[]' id='answer-id-52784' class='answer   answerof-12752 ' value='52784'   \/><label for='answer-id-52784' id='answer-label-52784' class=' answer'><span>Credit application<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-77' style=';'><div id='questionWrap-77'  class='   watupro-question-id-12753'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>77. <\/span>In Processing and evaluating applications\u201512 CFR 202.6, protected income part is also under discussion. <br \/>\r<br>Which of the following considerations is NOT its part?<\/div><input type='hidden' name='question_id[]' id='qID_77' value='12753' \/><input type='hidden' id='answerType12753' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12753[]' id='answer-id-52785' class='answer   answerof-12753 ' value='52785'   \/><label for='answer-id-52785' id='answer-label-52785' class=' answer'><span>Public assistance income may not consider whether an applicant\u2019s income is from a public assistance source<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12753[]' id='answer-id-52786' class='answer   answerof-12753 ' value='52786'   \/><label for='answer-id-52786' id='answer-label-52786' class=' answer'><span>Public assistance income may consider as it relates to another pertinent element of creditworthiness<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12753[]' id='answer-id-52787' class='answer   answerof-12753 ' value='52787'   \/><label for='answer-id-52787' id='answer-label-52787' class=' answer'><span>May consider length of time public assistance income will be received, whether the applicant will continue to qualify for the income, and whether the income can be garnished<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12753[]' id='answer-id-52788' class='answer   answerof-12753 ' value='52788'   \/><label for='answer-id-52788' id='answer-label-52788' class=' answer'><span>Can discount or refuse to consider the following: \r\nPart-time income \r\nAnnuities \r\nPensions \r\nRetirement benefits \r\nAlimony, child support, and separate maintenance payments to the extent they are likely to be consistently made<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-78' style=';'><div id='questionWrap-78'  class='   watupro-question-id-12754'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>78. <\/span>Credit scoring systems:<\/div><input type='hidden' name='question_id[]' id='qID_78' value='12754' \/><input type='hidden' id='answerType12754' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12754[]' id='answer-id-52789' class='answer   answerof-12754 ' value='52789'   \/><label for='answer-id-52789' id='answer-label-52789' class=' answer'><span>Evaluate an applicant\u2019s creditworthiness mechanically, based on key attributes of the applicant and aspects of the transaction, and determine, alone or in conjunction with an evaluation of additional information about the applicant, whether an applicant is deemed creditworthy<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12754[]' id='answer-id-52790' class='answer   answerof-12754 ' value='52790'   \/><label for='answer-id-52790' id='answer-label-52790' class=' answer'><span>Are evaluated by regulatory agencies to determine whether they are empirically derived and statistically sound and to examine: The bank\u2019s policies on the use of the credit scoring system Training of bank employees on the use of the system The number of high-side and low-side overrides of the system<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12754[]' id='answer-id-52791' class='answer   answerof-12754 ' value='52791'   \/><label for='answer-id-52791' id='answer-label-52791' class=' answer'><span>Both of these<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12754[]' id='answer-id-52792' class='answer   answerof-12754 ' value='52792'   \/><label for='answer-id-52792' id='answer-label-52792' class=' answer'><span>None of these<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-79' style=';'><div id='questionWrap-79'  class='   watupro-question-id-12755'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>79. <\/span>Federal regulations define special-purpose credit-12 CFR 202.8 to include:<\/div><input type='hidden' name='question_id[]' id='qID_79' value='12755' \/><input type='hidden' id='answerType12755' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12755[]' id='answer-id-52793' class='answer   answerof-12755 ' value='52793'   \/><label for='answer-id-52793' id='answer-label-52793' class=' answer'><span>Any credit assistance program authorized by federal or state law for the benefit of an economically disadvantaged class of persons<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12755[]' id='answer-id-52794' class='answer   answerof-12755 ' value='52794'   \/><label for='answer-id-52794' id='answer-label-52794' class=' answer'><span>Any credit assistance program offered by a not-for-profit organization for the benefit of its members or for the benefit of an economically disadvantaged class of person<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12755[]' id='answer-id-52795' class='answer   answerof-12755 ' value='52795'   \/><label for='answer-id-52795' id='answer-label-52795' class=' answer'><span>A special-purpose credit program must not discriminate on a prohibited basis; however, it can require its participants to share a particular characteristic (such as race or sex) provided the requirement was not established to evade the requirements of the ECOA. If the participants must share a common characteristic, the bank may collect information on that characteristic to determine eligibility<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12755[]' id='answer-id-52796' class='answer   answerof-12755 ' value='52796'   \/><label for='answer-id-52796' id='answer-label-52796' class=' answer'><span>If the program includes financial need as a criterion, the creditor can never request and consider information regarding the applicant<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-80' style=';'><div id='questionWrap-80'  class='   watupro-question-id-12756'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>80. <\/span>These are the definitions of _____________: The refusal to grant credit in substantially the amount or on substantially the terms requested in an application (and the applicant uses or expressly accepts the credit offered) A termination of the account or an unfavorable change in the terms of an account, unless the change affects substantially all of the lender\u2019s accounts of that type. <br \/>\r<br>A refusal to increase the amount of credit available to an applicant who has made an application for an increase<\/div><input type='hidden' name='question_id[]' id='qID_80' value='12756' \/><input type='hidden' id='answerType12756' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12756[]' id='answer-id-52797' class='answer   answerof-12756 ' value='52797'   \/><label for='answer-id-52797' id='answer-label-52797' class=' answer'><span>Adverse action-12 CFR 202.2(c)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12756[]' id='answer-id-52798' class='answer   answerof-12756 ' value='52798'   \/><label for='answer-id-52798' id='answer-label-52798' class=' answer'><span>Special-purpose credit-12 CFR 202.8<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12756[]' id='answer-id-52799' class='answer   answerof-12756 ' value='52799'   \/><label for='answer-id-52799' id='answer-label-52799' class=' answer'><span>Refusals- 12 CFR 202.8<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12756[]' id='answer-id-52800' class='answer   answerof-12756 ' value='52800'   \/><label for='answer-id-52800' id='answer-label-52800' class=' answer'><span>security agreements-12 CFR 202.2(c)<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-81' style=';'><div id='questionWrap-81'  class='   watupro-question-id-12757'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>81. <\/span>FDIC guidance lists three requirements to ensure compliance with spousal signature rules include all of the following EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_81' value='12757' \/><input type='hidden' id='answerType12757' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12757[]' id='answer-id-52801' class='answer   answerof-12757 ' value='52801'   \/><label for='answer-id-52801' id='answer-label-52801' class=' answer'><span>Review 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<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12757[]' id='answer-id-52802' class='answer   answerof-12757 ' value='52802'   \/><label for='answer-id-52802' id='answer-label-52802' class=' answer'><span>Provide training to consumer and commercial loan staff<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12757[]' id='answer-id-52803' class='answer   answerof-12757 ' value='52803'   \/><label for='answer-id-52803' id='answer-label-52803' class=' answer'><span>Implement monitoring and auditing programs to check for spousal signature violations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12757[]' id='answer-id-52804' class='answer   answerof-12757 ' value='52804'   \/><label for='answer-id-52804' id='answer-label-52804' class=' answer'><span>Must allow an applicant to designate a birth-given first name and a birth-given, surname, spouse\u2019s surname, or combination<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-82' style=';'><div id='questionWrap-82'  class='   watupro-question-id-12758'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>82. <\/span>Content of notification to credit consumers must contain:<\/div><input type='hidden' name='question_id[]' id='qID_82' value='12758' \/><input type='hidden' id='answerType12758' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12758[]' id='answer-id-52805' class='answer   answerof-12758 ' value='52805'   \/><label for='answer-id-52805' id='answer-label-52805' class=' answer'><span>Statement of the action taken<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12758[]' id='answer-id-52806' class='answer   answerof-12758 ' value='52806'   \/><label for='answer-id-52806' id='answer-label-52806' class=' answer'><span>Name and address of creditor<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12758[]' id='answer-id-52807' class='answer   answerof-12758 ' value='52807'   \/><label for='answer-id-52807' id='answer-label-52807' class=' answer'><span>Statement of the specific reasons for the adverse action or a disclosure of the applicant\u2019s right to receive the specific reasons within 30 days of a request. The request for specific reasons must be made within 60 days of the receipt of the adverse action notice.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12758[]' id='answer-id-52808' class='answer   answerof-12758 ' value='52808'   \/><label for='answer-id-52808' id='answer-label-52808' class=' answer'><span>Statement of the specific reasons for the adverse action or a disclosure of the applicant\u2019s right to receive the specific reasons within 15 days of a request. The request for specific reasons must be made within 30 days of the receipt of the adverse action notice.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-83' style=';'><div id='questionWrap-83'  class='   watupro-question-id-12759'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>83. <\/span>A bank may engage in voluntary self-testing and self-correction of its compliance with Regulation B. If the bank takes any appropriate corrective action, the reports, results, analysis, opinions, and conclusions of the self-test will be protected by a privilege. <br \/>\r<br>The privilege will be lost if<\/div><input type='hidden' name='question_id[]' id='qID_83' value='12759' \/><input type='hidden' id='answerType12759' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12759[]' id='answer-id-52809' class='answer   answerof-12759 ' value='52809'   \/><label for='answer-id-52809' id='answer-label-52809' class=' answer'><span>Loan and application files or other records related to a credit transaction and information derived from such files and records, even if it has been reorganized and summarized for analysis<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12759[]' id='answer-id-52810' class='answer   answerof-12759 ' value='52810'   \/><label for='answer-id-52810' id='answer-label-52810' class=' answer'><span>The information is voluntarily disclosed to the government<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12759[]' id='answer-id-52811' class='answer   answerof-12759 ' value='52811'   \/><label for='answer-id-52811' id='answer-label-52811' class=' answer'><span>The public or is used in any manner as a defense to a discrimination charge<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12759[]' id='answer-id-52812' class='answer   answerof-12759 ' value='52812'   \/><label for='answer-id-52812' id='answer-label-52812' class=' answer'><span>credit information is furnished in response to inquiries concerning an account reflecting the participation of consumer<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-84' style=';'><div id='questionWrap-84'  class='   watupro-question-id-12760'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>84. <\/span>Creditors must retain for 25 months after the date that an offer of credit is made (12 months for business applicants with gross revenues of $1 million or less) the following items EXCEPT:<\/div><input type='hidden' name='question_id[]' id='qID_84' value='12760' \/><input type='hidden' id='answerType12760' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12760[]' id='answer-id-52813' class='answer   answerof-12760 ' value='52813'   \/><label for='answer-id-52813' id='answer-label-52813' class=' answer'><span>The text of any prescreened solicitation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12760[]' id='answer-id-52814' class='answer   answerof-12760 ' value='52814'   \/><label for='answer-id-52814' id='answer-label-52814' class=' answer'><span>All other written information concerning the applicant<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12760[]' id='answer-id-52815' class='answer   answerof-12760 ' value='52815'   \/><label for='answer-id-52815' id='answer-label-52815' class=' answer'><span>The list of criteria used to select recipients<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12760[]' id='answer-id-52816' class='answer   answerof-12760 ' value='52816'   \/><label for='answer-id-52816' id='answer-label-52816' class=' answer'><span>Any record of complaints regarding the solicitation<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-85' style=';'><div id='questionWrap-85'  class='   watupro-question-id-12761'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>85. <\/span>According to FDIC Guidance on Spousal Signature Provisions, if the creditor requires the spouse\u2019s signature on an instrument that imposes personal liability, the creditor\u2019s belief should be:<\/div><input type='hidden' name='question_id[]' id='qID_85' value='12761' \/><input type='hidden' id='answerType12761' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12761[]' id='answer-id-52817' class='answer   answerof-12761 ' value='52817'   \/><label for='answer-id-52817' id='answer-label-52817' class=' answer'><span>Supported by a thorough review of pertinent statutes, decisional law, or an opinion of the state\u2019s attorney general<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12761[]' id='answer-id-52818' class='answer   answerof-12761 ' value='52818'   \/><label for='answer-id-52818' id='answer-label-52818' class=' answer'><span>Supported by a thorough review of pertinent statutes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12761[]' id='answer-id-52819' class='answer   answerof-12761 ' value='52819'   \/><label for='answer-id-52819' id='answer-label-52819' class=' answer'><span>Supported by decisional law<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12761[]' id='answer-id-52820' class='answer   answerof-12761 ' value='52820'   \/><label for='answer-id-52820' id='answer-label-52820' class=' answer'><span>Supported by an opinion of the state\u2019s attorney general<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-86' style=';'><div id='questionWrap-86'  class='   watupro-question-id-12762'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>86. <\/span>A consumer reporting agency may furnish a consumer report<\/div><input type='hidden' name='question_id[]' id='qID_86' value='12762' \/><input type='hidden' id='answerType12762' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12762[]' id='answer-id-52821' class='answer   answerof-12762 ' value='52821'   \/><label for='answer-id-52821' id='answer-label-52821' class=' answer'><span>If not authorized in writing by the consumer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12762[]' id='answer-id-52822' class='answer   answerof-12762 ' value='52822'   \/><label for='answer-id-52822' id='answer-label-52822' class=' answer'><span>In response to a court order having jurisdiction or a subpoena issued by a federal grand jury or review or collection of an account of the consumer<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12762[]' id='answer-id-52823' class='answer   answerof-12762 ' value='52823'   \/><label for='answer-id-52823' id='answer-label-52823' class=' answer'><span>In connection with a credit or insurance transaction<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-12762[]' id='answer-id-52824' class='answer   answerof-12762 ' value='52824'   \/><label for='answer-id-52824' id='answer-label-52824' class=' answer'><span>For employment purposes Before procuring a consumer report, an employer Must disclose to the individual in writing that a consumer report may be obtained Must obtain written authorization from the individual before procuring the report<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-87' style=';'><div id='questionWrap-87'  class='   watupro-question-id-12763'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>87. <\/span>Legislation was recently enacted to reform consumer real estate protection laws, and the bank will now have to change the way it documents, discloses, and advertises real estate loans, an integral product line at your bank. <br \/>\r<br>What should the compliance professional do FIRST to implement the new law within the bank?<\/div><input type='hidden' name='question_id[]' id='qID_87' value='12763' \/><input type='hidden' id='answerType12763' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12763[]' id='answer-id-52825' class='answer   answerof-12763 ' value='52825'   \/><label for='answer-id-52825' id='answer-label-52825' class=' answer'><span>Read the law and write a new real estate compliance policy<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12763[]' id='answer-id-52826' class='answer   answerof-12763 ' value='52826'   \/><label for='answer-id-52826' id='answer-label-52826' class=' answer'><span>Form a task force of the business unit managers whose departments will be affected by the law to collectively form an action plan<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12763[]' id='answer-id-52827' class='answer   answerof-12763 ' value='52827'   \/><label for='answer-id-52827' id='answer-label-52827' class=' answer'><span>Talk to the bank president about the need for more resources in compliance<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12763[]' id='answer-id-52828' class='answer   answerof-12763 ' value='52828'   \/><label for='answer-id-52828' id='answer-label-52828' class=' answer'><span>Sign up all bank personnel affected by the changes for a seminar on the new law<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-88' style=';'><div id='questionWrap-88'  class='   watupro-question-id-12764'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>88. <\/span>A bank\u2019s president would like to begin offering a new home equity line of credit product within two weeks. In all cases the borrower\u2019s principal dwelling will secure the loan. The president has already launched a planned advertising campaign for the bank\u2019s major service markets. <br \/>\r<br>What should the compliance professional do FIRST?<\/div><input type='hidden' name='question_id[]' id='qID_88' value='12764' \/><input type='hidden' id='answerType12764' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12764[]' id='answer-id-52829' class='answer   answerof-12764 ' value='52829'   \/><label for='answer-id-52829' id='answer-label-52829' class=' answer'><span>Hire an attorney to write the appropriate legal documents and disclosures<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12764[]' id='answer-id-52830' class='answer   answerof-12764 ' value='52830'   \/><label for='answer-id-52830' id='answer-label-52830' class=' answer'><span>Write a memo to the president explaining why the compliance professional should have been in on the process at an earlier date<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12764[]' id='answer-id-52831' class='answer   answerof-12764 ' value='52831'   \/><label for='answer-id-52831' id='answer-label-52831' class=' answer'><span>Begin training sessions for the lending and loan operations staff on the compliance issues involved<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12764[]' id='answer-id-52832' class='answer   answerof-12764 ' value='52832'   \/><label for='answer-id-52832' id='answer-label-52832' class=' answer'><span>Perform a risk assessment to determine the bank\u2019s level of risk in offering this new product<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-89' style=';'><div id='questionWrap-89'  class='   watupro-question-id-12765'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>89. <\/span>A bank has a large mortgage department as well as a high HMDA error rate. An expensive software program could automate the process, but the business unit manager does not want to purchase the software because of its expense. Though it is not as efficient, the manager prefers to make some improvements to the manual process, add some more robust monitoring procedures, and opt not to purchase the software. <br \/>\r<br>What should the compliance professional do?<\/div><input type='hidden' name='question_id[]' id='qID_89' value='12765' \/><input type='hidden' id='answerType12765' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12765[]' id='answer-id-52833' class='answer   answerof-12765 ' value='52833'   \/><label for='answer-id-52833' id='answer-label-52833' class=' answer'><span>Elevate the issue to a higher authority to force the mortgage department unit to purchase the software<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12765[]' id='answer-id-52834' class='answer   answerof-12765 ' value='52834'   \/><label for='answer-id-52834' id='answer-label-52834' class=' answer'><span>Nothing; the compliance professional\u2019s job is done with the completed research<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12765[]' id='answer-id-52835' class='answer   answerof-12765 ' value='52835'   \/><label for='answer-id-52835' id='answer-label-52835' class=' answer'><span>Document the fact that the level of risk present with manual systems is acceptable to the mortgage department business unit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12765[]' id='answer-id-52836' class='answer   answerof-12765 ' value='52836'   \/><label for='answer-id-52836' id='answer-label-52836' class=' answer'><span>Write a memo to the president of the bank that explains the risk assessment for this area<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-90' style=';'><div id='questionWrap-90'  class='   watupro-question-id-12766'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>90. <\/span>The federal banking agencies have proposed an amendment to Regulation Z that would require a new early disclosure statement for loans secured by the borrower\u2019s principal dwelling. <br \/>\r<br>After reading the proposed change, what should the compliance professional do FIRST?<\/div><input type='hidden' name='question_id[]' id='qID_90' value='12766' \/><input type='hidden' id='answerType12766' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12766[]' id='answer-id-52837' class='answer   answerof-12766 ' value='52837'   \/><label for='answer-id-52837' id='answer-label-52837' class=' answer'><span>Establish a task force to study the proposed rule.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12766[]' id='answer-id-52838' class='answer   answerof-12766 ' value='52838'   \/><label for='answer-id-52838' id='answer-label-52838' class=' answer'><span>Contact the bank\u2019s platform software vendor to determine whether it will be ready for the change NOTES<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12766[]' id='answer-id-52839' class='answer   answerof-12766 ' value='52839'   \/><label for='answer-id-52839' id='answer-label-52839' class=' answer'><span>Prepare a summary document that outlines the effects the proposed rule would have on the bank\u2019s operations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12766[]' id='answer-id-52840' class='answer   answerof-12766 ' value='52840'   \/><label for='answer-id-52840' id='answer-label-52840' class=' answer'><span>Train bank staff on the new rule<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-91' style=';'><div id='questionWrap-91'  class='   watupro-question-id-12767'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>91. <\/span>During a recent compliance examination, regulatory examiners found that the bank was not conducting flood hazard area determinations before closing on construction loans. The compliance professional has reviewed the files and agreed with the examiners\u2019 finding. <br \/>\r<br>What should be done FIRST?<\/div><input type='hidden' name='question_id[]' id='qID_91' value='12767' \/><input type='hidden' id='answerType12767' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12767[]' id='answer-id-52841' class='answer   answerof-12767 ' value='52841'   \/><label for='answer-id-52841' id='answer-label-52841' class=' answer'><span>Review the bank\u2019s flood policies and procedures to determine where the compliance failure occurred<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12767[]' id='answer-id-52842' class='answer   answerof-12767 ' value='52842'   \/><label for='answer-id-52842' id='answer-label-52842' class=' answer'><span>Conduct a risk assessment of the flood determination requirement on construction loans<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12767[]' id='answer-id-52843' class='answer   answerof-12767 ' value='52843'   \/><label for='answer-id-52843' id='answer-label-52843' class=' answer'><span>Prepare an analysis for bank management explaining the requirement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12767[]' id='answer-id-52844' class='answer   answerof-12767 ' value='52844'   \/><label for='answer-id-52844' id='answer-label-52844' class=' answer'><span>Review all construction loan files to determine the extent of the problem<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-92' style=';'><div id='questionWrap-92'  class='   watupro-question-id-12768'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>92. <\/span>During a recent compliance examination, regulators cited the bank for violations of various marketing regulations. <br \/>\r<br>How should the compliance professional FIRST respond?<\/div><input type='hidden' name='question_id[]' id='qID_92' value='12768' \/><input type='hidden' id='answerType12768' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12768[]' id='answer-id-52845' class='answer   answerof-12768 ' value='52845'   \/><label for='answer-id-52845' id='answer-label-52845' class=' answer'><span>Contact the bank\u2019s marketing manager to discuss the finding<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12768[]' id='answer-id-52846' class='answer   answerof-12768 ' value='52846'   \/><label for='answer-id-52846' id='answer-label-52846' class=' answer'><span>Develop a policy requiring that all marketing materials be reviewed and approved by compliance before being published<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12768[]' id='answer-id-52847' class='answer   answerof-12768 ' value='52847'   \/><label for='answer-id-52847' id='answer-label-52847' class=' answer'><span>Set up a training class for the marketing department<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12768[]' id='answer-id-52848' class='answer   answerof-12768 ' value='52848'   \/><label for='answer-id-52848' id='answer-label-52848' class=' answer'><span>Review the marketing materials and applicable regulations to verify the finding.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-93' style=';'><div id='questionWrap-93'  class='   watupro-question-id-12769'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>93. <\/span>When developing a training plan for commercial lenders, which of the following regulations is least important to include?<\/div><input type='hidden' name='question_id[]' id='qID_93' value='12769' \/><input type='hidden' id='answerType12769' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12769[]' id='answer-id-52849' class='answer   answerof-12769 ' value='52849'   \/><label for='answer-id-52849' id='answer-label-52849' class=' answer'><span>Equal Credit Opportunity, FRS Regulation B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12769[]' id='answer-id-52850' class='answer   answerof-12769 ' value='52850'   \/><label for='answer-id-52850' id='answer-label-52850' class=' answer'><span>Home Mortgage Disclosure, FRS Regulation C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12769[]' id='answer-id-52851' class='answer   answerof-12769 ' value='52851'   \/><label for='answer-id-52851' id='answer-label-52851' class=' answer'><span>Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks, FRS Regulation O<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12769[]' id='answer-id-52852' class='answer   answerof-12769 ' value='52852'   \/><label for='answer-id-52852' id='answer-label-52852' class=' answer'><span>Truth in Lending Act, FRS Regulation Z<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-94' style=';'><div id='questionWrap-94'  class='   watupro-question-id-12770'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>94. <\/span>A compliance professional is a member of the task force studying how the bank can reduce customer complaints about holding deposits. One proposed solution involves purchasing an expensive system that will reduce the number of holds placed by evaluating the customer\u2019s history and relationship with the bank. <br \/>\r<br>Which of the following roles is MOST important for the compliance professional on the task force?<\/div><input type='hidden' name='question_id[]' id='qID_94' value='12770' \/><input type='hidden' id='answerType12770' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12770[]' id='answer-id-52853' class='answer   answerof-12770 ' value='52853'   \/><label for='answer-id-52853' id='answer-label-52853' class=' answer'><span>Developing training for tellers who will use the new system<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12770[]' id='answer-id-52854' class='answer   answerof-12770 ' value='52854'   \/><label for='answer-id-52854' id='answer-label-52854' class=' answer'><span>Setting parameters for what the system should review to determine the strength of the customer relationship<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12770[]' id='answer-id-52855' class='answer   answerof-12770 ' value='52855'   \/><label for='answer-id-52855' id='answer-label-52855' class=' answer'><span>Validating the system to ensure it complies with regulatory restrictions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12770[]' id='answer-id-52856' class='answer   answerof-12770 ' value='52856'   \/><label for='answer-id-52856' id='answer-label-52856' class=' answer'><span>Conducting a cost-benefit analysis to determine if the system is the best solution<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-95' style=';'><div id='questionWrap-95'  class='   watupro-question-id-12771'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>95. <\/span>Of the following loans made by a national bank, which loan is NOT covered by the OCC ARM regulation?<\/div><input type='hidden' name='question_id[]' id='qID_95' value='12771' \/><input type='hidden' id='answerType12771' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12771[]' id='answer-id-52857' class='answer   answerof-12771 ' value='52857'   \/><label for='answer-id-52857' id='answer-label-52857' class=' answer'><span>A loan to purchase a single-family dwelling to be used as a residence, secured by the dwelling with an adjustable interest rate<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12771[]' id='answer-id-52858' class='answer   answerof-12771 ' value='52858'   \/><label for='answer-id-52858' id='answer-label-52858' class=' answer'><span>A loan made to purchase a mobile home to be used as rental property, secured by the home with a variable interest rate<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12771[]' id='answer-id-52859' class='answer   answerof-12771 ' value='52859'   \/><label for='answer-id-52859' id='answer-label-52859' class=' answer'><span>A loan made to purchase an eight-unit apartment complex, secured by the building, made payable on demand with a variable rate of interest<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12771[]' id='answer-id-52860' class='answer   answerof-12771 ' value='52860'   \/><label for='answer-id-52860' id='answer-label-52860' class=' answer'><span>A loan made to purchase a duplex, secured by the dwelling, amortized over 15 years with a 5-year maturity, at a variable rate of interest<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-96' style=';'><div id='questionWrap-96'  class='   watupro-question-id-12772'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>96. <\/span>First National Bank is a member of a multibank holding company. The bank makes ARM loans and occasionally purchases ARM loans from its affiliate national and state banks as well as from nonaffiliated banks. <br \/>\r<br>Which of the following practices is NOT acceptable under the OCC ARM regulation?<\/div><input type='hidden' name='question_id[]' id='qID_96' value='12772' \/><input type='hidden' id='answerType12772' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12772[]' id='answer-id-52861' class='answer   answerof-12772 ' value='52861'   \/><label for='answer-id-52861' id='answer-label-52861' class=' answer'><span>The bank purchases loans from its state affiliate banks where the index on the loan is tied to First National\u2019s prime rate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12772[]' id='answer-id-52862' class='answer   answerof-12772 ' value='52862'   \/><label for='answer-id-52862' id='answer-label-52862' class=' answer'><span>The bank makes loans to purchase single-family dwellings with interest rates that may be adjusted from time to time.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12772[]' id='answer-id-52863' class='answer   answerof-12772 ' value='52863'   \/><label for='answer-id-52863' id='answer-label-52863' class=' answer'><span>The bank links the interest rate indices on its own ARM loans to them national prime rate as published in The Wall Street Journal.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12772[]' id='answer-id-52864' class='answer   answerof-12772 ' value='52864'   \/><label for='answer-id-52864' id='answer-label-52864' class=' answer'><span>The bank requires its national bank affiliates to use the national prime rate as published in The Wall Street Journal as the index for any of the ARM loans it purchases.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-97' style=';'><div id='questionWrap-97'  class='   watupro-question-id-12773'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>97. <\/span>On which of the following adjustable-rate loans must the bank use an index beyond its control?<\/div><input type='hidden' name='question_id[]' id='qID_97' value='12773' \/><input type='hidden' id='answerType12773' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12773[]' id='answer-id-52865' class='answer   answerof-12773 ' value='52865'   \/><label for='answer-id-52865' id='answer-label-52865' class=' answer'><span>A loan to purchase a home to refurnish and resell for a profit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12773[]' id='answer-id-52866' class='answer   answerof-12773 ' value='52866'   \/><label for='answer-id-52866' id='answer-label-52866' class=' answer'><span>A loan to purchase a vacation home<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12773[]' id='answer-id-52867' class='answer   answerof-12773 ' value='52867'   \/><label for='answer-id-52867' id='answer-label-52867' class=' answer'><span>A loan to purchase a duplex where the borrower will live in one of the units<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12773[]' id='answer-id-52868' class='answer   answerof-12773 ' value='52868'   \/><label for='answer-id-52868' id='answer-label-52868' class=' answer'><span>A loan to purchase a home to be used as rental property<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-98' style=';'><div id='questionWrap-98'  class='   watupro-question-id-12774'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>98. <\/span>ABC National Bank regularly purchases mortgage loans from ACME Mortgage Company, a local mortgage broker. ACME places a mandatory arbitration clause in each of its mortgage documents. ACME believes this clause is necessary because of state laws governing arbitration. <br \/>\r<br>Is this clause a problem for ABC National?<\/div><input type='hidden' name='question_id[]' id='qID_98' value='12774' \/><input type='hidden' id='answerType12774' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12774[]' id='answer-id-52869' class='answer   answerof-12774 ' value='52869'   \/><label for='answer-id-52869' id='answer-label-52869' class=' answer'><span>No, unless other predatory or abusive lending practices are evident in the loans sold by ACM<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12774[]' id='answer-id-52870' class='answer   answerof-12774 ' value='52870'   \/><label for='answer-id-52870' id='answer-label-52870' class=' answer'><span>Yes, the clause is a sign of an abusive lender, and the bank should not purchase the loans.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12774[]' id='answer-id-52871' class='answer   answerof-12774 ' value='52871'   \/><label for='answer-id-52871' id='answer-label-52871' class=' answer'><span>Yes, the bank should make ACME strike the clause from future loans.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12774[]' id='answer-id-52872' class='answer   answerof-12774 ' value='52872'   \/><label for='answer-id-52872' id='answer-label-52872' class=' answer'><span>No, this is a common practice and the bank can ignore it.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-99' style=';'><div id='questionWrap-99'  class='   watupro-question-id-12775'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>99. <\/span>The OCC recommends all but one of the following actions to help prevent a national bank\u2019s purchasing or acquiring predatory or abusive loans. <br \/>\r<br>Which practice is NOT recommended?<\/div><input type='hidden' name='question_id[]' id='qID_99' value='12775' \/><input type='hidden' id='answerType12775' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12775[]' id='answer-id-52873' class='answer   answerof-12775 ' value='52873'   \/><label for='answer-id-52873' id='answer-label-52873' class=' answer'><span>Establish policies on the bank\u2019s relationship with third-party brokers and originators<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12775[]' id='answer-id-52874' class='answer   answerof-12775 ' value='52874'   \/><label for='answer-id-52874' id='answer-label-52874' class=' answer'><span>Review loan documentation<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12775[]' id='answer-id-52875' class='answer   answerof-12775 ' value='52875'   \/><label for='answer-id-52875' id='answer-label-52875' class=' answer'><span>Audit the third-party broker<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12775[]' id='answer-id-52876' class='answer   answerof-12775 ' value='52876'   \/><label for='answer-id-52876' id='answer-label-52876' class=' answer'><span>Require the broker to establish a reserve account for legal contingencies<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-100' style=';'><div id='questionWrap-100'  class='   watupro-question-id-12776'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>100. <\/span>Second State Bank offers a mortgage product that involves simultaneous second lien loans. These include a first lien for up to 90 percent of the purchase price and a second loan for the down payment, secured by a second lien on the property. The bank would like to be in full compliance with the Interagency Guidance on Nontraditional Mortgage Product Risks. <br \/>\r<br>Which of the following should Second State Bank incorporate into its loan program?<\/div><input type='hidden' name='question_id[]' id='qID_100' value='12776' \/><input type='hidden' id='answerType12776' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12776[]' id='answer-id-52877' class='answer   answerof-12776 ' value='52877'   \/><label for='answer-id-52877' id='answer-label-52877' class=' answer'><span>Risk management procedures to measure the risk of all simultaneous second lien loans and report results to management<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12776[]' id='answer-id-52878' class='answer   answerof-12776 ' value='52878'   \/><label for='answer-id-52878' id='answer-label-52878' class=' answer'><span>A 100 percent loan loss reserve on all simultaneous second lien loans<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12776[]' id='answer-id-52879' class='answer   answerof-12776 ' value='52879'   \/><label for='answer-id-52879' id='answer-label-52879' class=' answer'><span>A product combining simultaneous second lien loans with negative amortization features made to nonowner occupied borrowers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-12776[]' id='answer-id-52880' class='answer   answerof-12776 ' value='52880'   \/><label for='answer-id-52880' id='answer-label-52880' class=' answer'><span>A prepayment penalty on all simultaneous second lien loans<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-101'>\n\t<div 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