The following questions are representative of the types of questions you will find on the CRCM (Certified Regulatory Compliance Manager) exam.

1.  A borrower has a right to rescind a loan agreement in all of the following situations except:

a. A line of credit used for the borrower's business, secured by the borrower's primary  dwelling
b. A revolving line of credit secured by the borrower's primary dwelling used to Improve the borrower's home
c. An increase of a line of credit from $5,000 to $10,000 secured by the borrower's primary dwelling
d. A loan to pay off a contract for a deed secured by the borrower's primary dwelling

2.  When opening a deposit account online, Regulation E disclosures MUST be provided at the time of account opening or: 

a. Before the first EFT occurs 
b. Along with the first periodic statement 
c. Within three business days of account opening 
d. Within three business days of a customer's request for the EFT service

3.  The primary responsibility for overseeing a bank’s inherent compliance risk should lie with which of the following?

a. Internal audit
b. Consumers
c. Board of Directors
d. Compliance officer

4.   A branch manager finds an unexplained $7,000 cash shortage in Teller #1's cash drawer. Which of the following actions must the bank take?

a. File a Currency Transaction Report (CTR) with the IRS
b. Discharge Teller #1 immediately
c. Send a notice of adverse action to the bank's federal regulator
d. File a Suspicious Activity Report (SAR)

5.  A compliance professional recently discovered the bank did not file and disclose an accurate covered agreement, as required by the CRA Sunshine Act. In order to ensure correct reporting in the future, what must be provided? 

a. All individual mortgage loans 
b. Grants or loans to fulfill CRA activity 
c. Non-public or confidential information that will be provided in the public file 
d. A copy of the agreement to the regulatory agency 24 months after the end of the term

Answer Key

1. a
2. a
3. c
4. d
5. b

You will get a choice of two questions on the play that you have studied. In both questions you will be given a statement about an aspect of the play and you will be asked to show ‘how far you agree with’ it.

One question will ask you to discuss a specific extract as part of your essay and then look at the wider play as your essay develops. The other question will ask for a discussion of the whole play.

Read both questions carefully, looking at the key terms used in the questions so that you know exactly what you are being asked.

Choose whichever question you feel most confident about and which will allow you to show off all your knowledge about the play and the playwright’s use of dramatic devices.

Always remember that your essay should present your opinion on the subject clearly, throughout your answer you should develop your argument on why you think this.

You must support your argument using quotations and examples from the play and you should be using the literary terms you learnt in class to show you are aware of the writer’s methods.

Look at examples of points in the sections on characters and themes to see how you should integrate all of these aspects into paragraphs.

The following questions are representative of the types of questions you will find on the examination.

1. A trust you administer, in a jurisdiction that has adopted Directed Trust statutes, contains language in the trust document appointing a fiduciary for investment purposes.  Your institution is a directed trustee responsible as a fiduciary for administration only.  You believe that the investment fiduciary is abusing this power and is directing you to make an imprudent investment. You should:

a. Tell the advisor he must first obtain the consents of the current beneficiary and presumptive remaindermen.
b. Confront the advisor and, if the situation cannot be remedied, seek court guidance.
c. Follow the advisor's directions nonetheless.
d. Obtain the written consent of all fiduciaries. 

2. Your client is married and has a net worth of $12 million, which includes a jointly owned house worth $2.5 million. His wife has assets of $1 million. They have simple wills leaving everything to each other and then to their two children in equal shares. The BEST advice to reduce federal estate taxes is that he:

a. Leave everything to his wife in his will.
b. supply $14,000 per year to each of his two children.
c. Incorporate a credit shelter trust provision in his will.
d. Transfer the house ownership completely to his wife.

3. Distributions from which of the following CANNOT be rolled over into an IRA?

a. 401(k)
b. Money Purchase Pension Plan
c. Profit Sharing Plan
d. Rabbi Trust

4. John creates a trust with income during life to Sam, the remainder to Sue. John retains the right to amend or revoke the agreement. Sue will have to disclaim her interest in the trust within 9 months of:

a. John's death
b. Sam's death
c. The creation of the trust
d. The appointment of the executor or administrator of Sam's estate

5. A client faces a 30% federal income tax rate and a 5% state tax rate. Municipal bonds issued in the client’s state of residence are exempt from state taxes. Considering current income only, and not adjusting for the federal deductibility of state taxes, which of the following repre­sents a proper comparison of bond attractiveness?

a. A 10% Treasury bond is more attractive than a 7.2% municipal bond issued by a state of which the client is not a resident.
b. A 6.0% bond issued by the client's state of residence is more attractive than a 7.2% municipal bond issued by another state.
c. An 18% corporate bond is more attractive than a 12% municipal bond issued by the client's state of residence.
d. A 6.75% municipal bond issued by the client's state of residence is more attractive than a 7% municipal bond issued by a U.S. territory.

1. b
2. c
3. d
4. a
5. a​

A device that is dedicated to a specific function in contrast to a general-purpose computer. The hardware comes pre-installed with its operating system and application. Many consider the router to be the first network appliance.

A "software appliance" is the software alone, which must be installed in the computer. Following is a list of common hardware appliances. See virtual appliance.

    caching appliance
    digital appliance
    email appliance
    firewall appliance
    Internet appliance
    Internet server appliance
    network appliance
    server appliance

Multiple choice questions are perhaps the easiest to complete - you simply put a cross in a box - however, the questions often have two answers that could, at first glance, be correct. Don't make the mistake of reading the first answer and thinking this is correct without checking all the others.

If it says 'Tick one box', you must tick one box. If you leave it blank or tick two or more boxes you will get zero marks. These multiple choice questions will not start with command words like 'Describe...' or 'Explain...'. They will be written in the form of a question like 'What...?' or 'Why...?'.

There will be more multiple choice questions on the Foundation paper.

These questions have been written by Bitesize consultants as suggestions to the types of questions that may appear in an test paper.

Purpose

To determine authenticity and authorship.

Method

The specifics of an investigation will depend on the nature of the document being studied (e.g., historical or personal) and the goals of the inquiry. Generally speaking, a document will be examined from three different aspects: historical, scientific, and stylistic.

Historical Analysis

It is virtually impossible to pinpoint the age of an undated document, but there may be clues to the era. If it is a printed piece - say a greeting card - the method of printing, address, and even the stamp may be important.

At the very least, materials and techniques must be consistent with place and time. Many forgeries are identified by the presence of materials that didn’t exist at the time alleged.

Scientific Analysis

A detailed paper analysis will detect every shred of physical evidence concealed in a document.

Stylistic Analysis

Comparisons of style are essential for authentication. Penmanship, cultural phrasing, and form of address can help to identify both the era and author. Handwriting comparisons can authenticate a signature or manuscript.

In some cases, all of it taken together can’t solve a historical puzzle. For example, there are five known manuscript copies of the Gettysburg Address. Testing has proved that all are authentic Lincoln documents. But it will never prove, definitively, which of the five Lincoln actually read from at Gettysburg.