Continuing EduCation Quiz
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. C RC M
Certified Regulatory
Compliance Manager
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.
Assessing Your Institution’s Fair Lending Risk
By Jennifer Vandeveer and tara h. Burch
1. Both the Equal Credit opportunity act (ECoa) and
the Fair housing act (Fha) apply to all the following
borrowing situations, EXCEpt when a:
a. consumer buys a home
b. small business buys a warehouse
c. small business buys a house
d. commercial entity buys residential real estate
2. automated underwriting is generally considered:
a. more risky than manual underwriting
b. less risky than manual underwriting
c. about the same in terms of risk as manual underwriting
d. less risky than manual underwriting when the
parameters of the system are not prohibited–basis
neutral
Take Reg. W to the Cleaners
By Katherine augustine
3. if a nonaffiliated third party is a client of the bank,
receives advisory services from an affiliate, and uses
loan proceeds from the bank to pay the advising
affiliate, the transaction triggers reg. W.this type of
transaction is best described as a(n):
a. attribution transaction
b. credit transaction
c. intercompany transaction
d. purchase of assets
4. according to the author, perhaps the least discussed
reg. W requirements, though certainly not due to their
lack of importance, are the:
a. collateral requirements
b. prohibited transactions
c. quantitative limits
d. valuation and timing principles
5. When discussing market terms requirements of reg.
W, many bankers refer to:
a. section 23a
b. section 23B
c. section 24a
d. section 24B
Emergency Preparedness: Same As It Ever Was?
By doug Johnson
6. during the 2005 major hurricanes, the focus from
banks was on delivering access to cash; in light of
recent events—floods, tornadoes, and the oil spill—the
focus is now on delivering:
a. access to cash
b. flood insurance
c. access to credit
d. retail services
7. Which of the following is not an action step for
preparing for a post-emergency examination?
a. document credit modifications
b. document real estate values
c. have a risk assessment
d. comprehensive Cip documentation
Why Should Banks Care About Healthcare Reform?
By linda a. malek, Cristeena naser, samuel J. servello, and J.
steven stone
8. Which legislation created the “most comprehensive
changes to federal privacy and security requirements
since the promulgation of hipaa privacy and security”
regulations?
a. american health privacy act (ahpa)
b. gramm-leach Bliley act (glBa)
c. health informationtechnology for economic and
Clinical health act (hiteCh)
d. patient protection and affordable Care act (ppaCa)
9. a hipaa-covered entity that “accesses, maintains,
retains, modifies, records, stores, destroys, or otherwise
holds, uses or discloses unsecured protected health
information” and that discovers a breach of such
information must notify each affected individual within:
a. 10 days of the discovery of the breach
b. 30 days of the discovery of the breach
c. 45 days of the discovery of the breach
d. 60 days of the discovery of the breach
10. For a breach affecting more than 500 individuals
in one state or jurisdiction, a hipaa-covered entity
must notify the u.s. department of health and human
services (hhs) and:
a. the federal Reserve (fed)
b. prominent media outlets
c. local health departments
d. the federal deposit insurance Corporation (fdiC)
