CONTINUING EDUCATION QUIZ
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. If you have any
questions, please contact ABA Professional Certifications at email@example.com.
Compliance and the Cannabis Conundrum
by Robert Rowe
1. Overall, the DOJ issued guidelines between 2009 and 2014 that
reflect two common themes. The first goal is to help federal
prosecutors balance the availability of limited resources against
the need to investigate and prosecute activities the federal
government has criminalized. The second theme is that Congress
a. Marijuana is not a dangerous drug.
b. It should not be a criminal offense to distribute marijuana.
c. Illegal distribution and sale of marijuana is a serious offense.
d. Banks should be able to bank marijuana businesses as long as they
fill out SARs.
2. In late August 2013, the Deputy Attorney General updated
the guidelines, and the DOJ identified eight priorities which
a. Preventing distribution to minors.
b. Keeping proceeds out of the hands of political campaigns.
c. Tax write-offs for cannabis farms under 10 acres.
d. Preventing drugged driving unless utilizing a hands-free device.
3. Lack of access to bank accounts creates two problems for
marijuana businesses. First, marijuana businesses become
attractive targets for armed robbers, and second:
a. All taxable assets could be lost in case of a fire, and state revenue
would be lost.
b. States dislike the use of large cash sums to pay state taxes and
c. Insurance premiums would increase for all businesses because of
the potential losses with marijuana businesses.
d. Charitable donations in the form of barter would be illegal.
Giving your Risk Assessment the Third Degree—
How Third-Parties can Enrich your Compliance Risk
by Emily J. Bade, CRCM, CRP
4. When banks outsource to third parties:
a. Banks fully lose ownership of risk.
b. Banks are not expected to understand outsourced operations.
c. Banks are not liable for any mistakes made by third parties.
d. Banks fully retain ownership of risk.
5. The bank’s Procurement Department should have standards for
what constitutes approved vendors, including:
a. Financial conditions.
c. Number of offices.
d. Manager to employee ratio.
6. For technology products and services, the bank’s IT department
will perform its own assessment of a third party’s:
a. NAV-based system security protocols.
c. Physical main frame’s heat sensors.
d. Educational background and managers’ credit scores.
Strategic Focus: How to Use the CRA Q and As
to Support Modern Needs in Communities
by Brian Waters, CRCM
7. The focus in this article is on four Q&As that highlight modern
needs in communities and how banks can support those needs
as part of their CRA programs, including:
a. The steps involved in starting a financial literacy program at your
b. Investment in community infrastructure as a foundational approach
to empower community revitalization.
c. How your bank can issue grants to fund charities for CRA credit
d. How your bank should ensure that the community’s economy
isn’t tied to one specific industry.
8. The 2016 revisions to the Q&As include many additional areas
for bankers to understand as they work on their CRA strategy.
Other important takeaways include all of the following EXCEPT:
a. Guidance on workforce development initiatives for low- and
moderate-income job creation.
b. Utilizing alternative credit histories in loan underwriting.
c. Considerations for small dollar loan programs.
d. Extending CRA boundaries to include financial literacy programs
to everyone, including upper income individuals.
The Importance of Management Influence
by Robert Marx, CRCM, CIA
9. One takeaway of this article is that managers cannot influence
others by commanding them to do what they are asking.
Instead managers must:
a. Make sure everything they want is on the employee’s job description
and included in the employee evaluation.
b. Ensure the employee signs a W- 18 subset 3 form every year prior to
c. Rely on the art of persuasion.
d. Withhold employee pay or suspend benefits, but not both.
10. It is hard to build trust when interacting infrequently with
others, thus a long-term strategy is to:
a. Interact frequently and provide regular updates.
b. Surprise others; they are more likely to remember you if they are
caught off-guard occasionally.
c. Never provide negative feedback; you want to make sure your co-
workers are your friends.
d. Never let business units know what you have found before the final
report is due.