Free American Bankers Association CRCM Exam Actual Questions

The questions for CRCM were last updated On Apr 24, 2025

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Question No. 1

Purpose credit is credit for all of the following EXCEPT:

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Correct Answer: D

Question No. 2

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's accounts of that type.A refusal to increase the amount of credit available to an applicant who has made an application for an increase

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Correct Answer: A

Question No. 3

OCC advisory on credit card practice-AL-2004-10 in credit card practices covers:

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Correct Answer: B

Question No. 4

The Reserve Bank may recover from the sender the attorneys' fees if an action is brought against a Reserve Bank on the basis of:

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Correct Answer: D

Question No. 5

_____________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

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Correct Answer: A