The CE quizzes in ABA Bank Compliance magazines provide up to six continuing education credits per year
to Certified Regulatory Compliance Managers (CRCMs). Each quiz consists of 10 questions taken directly
from the articles in each issue and have been pre-approved by the ICB for 1.0 credit per quiz. You must
correctly answer seven out of the 10 questions to receive the credit.
To take the quiz, please go to www.icbmembers.org, login, and click on “Continuing Education Quizzes
(ABA Magazine)” located on the left-hand side of the page. Once you have completed the quiz, you will
receive immediate notification of the results, which can be printed and saved for your records. Quiz credits
are automatically uploaded to your record and will show under “My Continuing Education Credits” within
48 hours. If you have any questions, contact ICB’s Continuing Education Manager at icb@aba.com.
Bringing Mortgage Fraud Under Control:
When and How?
By Dennis M. Lormel
1. For the first half of FY 2009, the FBI had how many
open mortgage fraud cases?
1,644 a.
2,346 b.
62,084 c.
63,713 d.
2. Which piece of legislation increased the number
of federal law enforcement officials investigating
financial fraud, including 500 new FBI agents, 50
new assistant U.S. attorneys, and 100 new SEC
Enforcement Division employees?
Supplemental Anti-Fraud Enforcement (SAFE) Market Act a.
Fraud Enforcement and Recovery Act (FERA) b.
Troubled Asset Relief Program (TARP) c.
Mortgage Fraud Recovery Act (MFRA) d.
Compliance & Social Commerce: Tweets,
Posts & Blogs
By Kathlyn L. Farrell, CRCM, CAMS, AMLP
3. In 2008, what was the fastest-growing Facebook
demographic?
adults between 21-30 a.
adults between 31-40 b.
adults between 41-50 c.
adults over 50 d.
4. From a records management compliance
perspective, both Reg. Z and Reg. DD require that
evidence of compliance be retained for how long?
one year a.
two years b.
three years c.
four years d.
Using Metrics to Assess Your AML
Compliance Program
By Kevin M. Anderson, CAMS
5. The art of studying numbers to inform business
decisions as to what products are successful, what
customer segments to focus on, and which areas of
the company are most profitable is known as:
independent audits a.
risk-based reviews b.
metrics c.
management reporting d.
6. In suspicious activity reporting, institutions
generally have how long between determining that
unusual activity meets suspicious activity reporting
requirements and the time of filing a SAR?
within a week a.
within two weeks b.
within 30 days c.
within 45 days d.
Customer Complaints: Why You Want Them
and What to Do with Them
By Craig Stone
7. When it comes to customer complaints, which of the
following types of complaints might a regulator NOT
place increased emphasis on, according to the author?
money laundering a.
predatory lending b.
illegal discrimination c.
unfair and deceptive practices d.
8. Which of the following regulations does NOT have
specific customer complaint guidelines?
Electronic Funds Transfer Act (Reg. E) a.
Truth in Lending Act (Reg. Z) b.
Real Estate Settlement and Procedures Act (Reg. X) c.
Privacy of Consumer Financial Information (Reg. P) d.
Strategies for Implementing Regulatory Change:
Spotlight on the Credit CARD Act of 2009
By Danielle M. Angermeier CRCM, CRP, CIPP, CAMS and
Michael S. Lamberth CPA, CRCM, CIPP, CAMS
9. Under the Credit Card Accountability, Responsibility
and Disclosure Act (CARD) what is the deadline for
implementing statement mailing time frames and
repricing notifications?
August 20, 2009 a.
February 22, 2010 b.
July 1, 2010 c.
August 22, 2010 d.
10. Under the Credit Card Accountability,
Responsibility and Disclosure Act (CARD) what is the
deadline for implementing repricing decision reviews
and penalty fee restrictions?
August 20, 2009 a.
February 22, 2010 b.
July 1, 2010 c.
August 22, 2010 d.
