The CE Quizzes in ABA Bank Compliance provide up to six continuing education credits per year to those who
hold the CRCM certification. Each quiz consists of ten questions taken directly from the articles in each issue.
The quizzes have been pre-approved for 1.0 credit each. You must correctly answer seven out of ten questions
to receive the credit. To take the quiz, please go to the ABA Certification Manager, aba.csod.com. After you
login, click on Manage My CE on the home page which will take you to the “Certification Details” page. Locate
the quiz, select “Request” to launch the quiz. Quiz credits are automatically uploaded to your record. This quiz
will be available for one full year from publication. If you have any questions, please contact ABA Professional
Certifications at firstname.lastname@example.org.
Compliance in 2019:
What to Expect, and Where
Should Your Focus Be?
by Carl Pry, CRCM, CRP
1 Which topic does the author say
is one you need to focus on in
a. Artificial Intelligence (AI)
development in Redlining
b. Payday Deposit Rule.
c. Debt Collections.
d. Marketing Compliance.
2. CRA modernization is a pressing
issue requiring reform; one of
the pressing issues is:
a. How much emphasis should the
size of the IT department be given
in evaluating CRA performance?
b. Should the regulation move to a
more qualitative approach as a
means to evaluate performance,
or is that too narrow an approach?
c. Should the “primary purpose”
test for community development
loans and investments be
modified or eliminated?
d. How should inconsistencies
between branches be dealt with?
3. The prudential regulators
have proposed increasing the
threshold for a required appraisal
on residential homes from:
a. $250,000 to $400,000.
b. $250,000 to $500,000.
c. $200,000 to $400,000.
d. $200,000 to $450,000.
Tell that to the States!
By Sam Holle, CRCM, and
4. The authors say that the power
provided by Dodd-Frank to the
states could be:
a. Used concurrently with the CFPB
b. Construed as illegal.
c. Ratified at any moment in 2019.
d. Seen as an independent action
that 27 states attorneys general
were pledging to continue.
5. In 2018, the CFPB and state
regulators clashed over whether
disparate impact is the proper
analytical framework to
determine compliance with:
a. The Equal Credit Opportunity Act
b. The Association for Indirect Auto
c. The state attorneys general.
d. The U.S. Supreme Court.
Federal Preemption Review
by Margaret Weir Westby, Esq., CRCM
6. Which of the following BEST
a. The laws of one level of
government supersede the laws
of a lower level.
b. Federal legislative action comes
into conflict with the action taken
by the U.S. Supreme Court.
c. The laws of a lower level of
government supersede those of
the federal government.
d. Television shows are cancelled
because of the State of the Union
7. Dodd-Frank Section 1041 has a
“savings clause”; in this case,
a. Federal laws are sacred,
especially if they grant something
to consumers that provide
protection they can’t get from
b. Banks who offer savings accounts
are more protected by Reg CC
than brokerage firms and other
institutions who are not.
c. State consumer protection laws
are pretty much sacred if they
grant greater protection to the
d. Financial institutions shall be
“saved” under federal law
if consumers are provided
protection for deposits (Bailey
Savings and Loan v. Potter Co.,
Kicking Back Against RESPA
Section 8 Risk
by Kathryn Morris, CRCM
8. RESPA Section 8 does which of
a. Prohibit payments for referrals
made between settlement service
b. Encourages fee splitting.
c. Prohibits compliance with VESPA
d. Encourages lenders to accept
9. In the PHH case, CFPB Director
Richard Cordray asserted that
this arrangement violated RESPA
on the basis that:
a. PHH limited its referrals to
companies that agreed to
purchase reinsurance, thereby
tying the referral to a fee paid by
the PMI company to PHH.
b. The fees paid by the PMI
companies to PHH’s reinsurance
entity were definitely for services
c. The fees paid by the PMI
companies to PHH’s reinsurance
entity were reasonably related to
d. There was not enough proof of
wrongdoing to decide either way.
10. While co-marketing can be
permissible, lenders must
exercise caution when entering
into such agreements, ensuring
that payments made are:
a. Approved by the marketing
b. Reported to the IRS as a
marketing expense under Laine
Integrated Exposure (LIE) Act of
c. Directly and only related to the
value of advertising received in
d. Not to exceed 150% of the billed