Welcome to ExamTopics
ExamTopics Logo
- Expert Verified, Online, Free.
Mail Us[email protected]
Menu
Aba Discussions
exam questions

Exam CRCM All Questions

View all questions & answers for the CRCM exam
Go to Exam

Exam CRCM topic 1 question 87 discussion

Actual exam question from ABA's CRCM
Question #: 87
Topic #: 1
[All CRCM Questions]

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. What should the compliance professional do FIRST to implement the new law within the bank?

  • A. Read the law and write a new real estate compliance policy
  • B. Form a task force of the business unit managers whose departments will be affected by the law to collectively form an action plan
  • C. Talk to the bank president about the need for more resources in compliance
  • D. Sign up all bank personnel affected by the changes for a seminar on the new law
Show Suggested Answer Hide Answer
Suggested Answer: B 🗳️
by Cam22 at March 15, 2024, 2:53 a.m.

Comments

Chosen Answer:
This is a voting comment (?) , you can switch to a simple comment.
Switch to a voting comment New
Submit Cancel
Dex24
5 months, 3 weeks ago
B, page 6.
upvoted 1 times
...
Cam22
7 months, 2 weeks ago
Selected Answer: A
Option A, "Read the law and write a new real estate compliance policy," represents this initial, critical step. By first reading and understanding the law, the compliance professional can identify the specific changes needed in the bank's procedures, documentation, disclosures, and advertising practices related to real estate loans. This understanding forms the basis for drafting a new compliance policy that aligns with the law's requirements. While the other options are also important components of a comprehensive strategy to comply with the new law, they are subsequent steps that should follow after gaining a thorough understanding of the law itself. Therefore, the correct answer is: A. Read the law and write a new real estate compliance policy.
upvoted 1 times
...

Get IT Certification

Unlock free, top-quality video courses on ExamTopics with a simple registration. Elevate your learning journey with our expertly curated content. Register now to access a diverse range of educational resources designed for your success. Start learning today with ExamTopics!

Start Learning for free
Community vote distribution
A (35%)
C (25%)
B (20%)
Other
Most Voted
A voting comment increases the vote count for the chosen answer by one.

Upvoting a comment with a selected answer will also increase the vote count towards that answer by one. So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.

SaveCancel