American Bankers Association CRCM Quiz 1 Topic 4 Questions 1-5

Question: 1

Regulation B defines ''elderly'' as having attained an age of how many years?

A55

B59

C62

D70

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Question: 2

Electronic funds transfers' requirements say that transfers that vary in amount must be communicated to the designated payee within _______________before the scheduled transfer or may give the consumer the option of receiving notice only when a transfer falls outside a specified range of amounts.

A10 days

B20 days

C30 days

D15 days

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Question: 3

What is the definition of a ''small'' business under CRA rules?

AEmploys fewer than 50 people

BHas assets of less than $5 million

CProduces gross annual revenues of $1 million or less

DDoes not generally have access to regional or national credit markets

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Question: 4

Which of the following must a ''large'' bank maintain as part of its CRA program?

AListing of director, officer, and employee community involvement, and a listing of loans made to low- and moderate-income individuals

BDescription of its assessment area, written comments and responses, and the public portion of the regulator's most recent CRA performance evaluation

CCopy of the bank's CRA Notice and the bank's most recent five years of CRA disclosure statements

DA comprehensive record of all CRA-related training completed by employees during the past two years 696 AMERICAN BANKERS ASSOCIATION

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Question: 5

For HMDA purposes, the term ''dwelling'' does NOT include which of the following?

ATimeshares

BSingle family dwellings

CIndividual condominiums

DMobile homes not attached to real property

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American Bankers Association CRCM Quiz:1 Topic:4 Questions:1-5