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Exam CRCM topic 1 question 77 discussion

Actual exam question from ABA's CRCM
Question #: 77
Topic #: 1
[All CRCM Questions]

In Processing and evaluating applications""12 CFR 202.6, protected income part is also under discussion. Which of the following considerations is NOT its part?

  • A. Public assistance income may not consider whether an applicant's income is from a public assistance source
  • B. Public assistance income may consider as it relates to another pertinent element of creditworthiness
  • C. 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
  • D. Can discount or refuse to consider the following: Part-time income Annuities Pensions Retirement benefits Alimony, child support, and separate maintenance payments to the extent they are likely to be consistently made
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Suggested Answer: D 🗳️

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Dex24
5 months, 3 weeks ago
D, page 127. You "cannot" discount or refuse...and D states you "can".
upvoted 1 times
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Cam22
7 months, 2 weeks ago
Selected Answer: B
B. Public assistance income may consider as it relates to another pertinent element of creditworthiness
upvoted 1 times
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