ABA Bank Compliance - September/October 2012

CONTINUING EDUCATION QUIZ

CRCM Certified Regulatory Compliance Manager

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.

Mobile Banking and Payments: What are the Rules?

By Meg Sczyrba, CRCM and Thomas Healy, CRCM

1. What technology allows people to swipe their phone
near a data receiver to pay for products?
a. 4G Technology
b. Remote Deposit Capture
c. Near Field Communications
d. RADAR
2. You can deposit items electronically from a remote
location using:
a. Remote Deposit Capture
b. Digital Television
c. Text Messaging Alerts
d. Near Field Communications
3. Why may Office of Foreign Assets Control
transaction blocking become more difficult with
mobile banking?
a. “Do Not Track” options
b. Concerns about Geolocation
c. Google Wallet isn’t used in foreign countries
d. The IP address may not be available to block
4. What portion of the U.S. population has a mobile
phone?
a. 65 percent
b. 74 percent
c. 97 percent
d. 87 percent

Exam Management: Do the “Old Established” Principles Still Apply?

By Thomas Healy, CRCM and Bonita Jones
5. What type of violations appeared in the Federal
Reserve Annual Report to Congress as frequent
violations for the first time since 2004?
a. Regulation AA/UDAP
b. Regulation B
c. Regulation Z
d. Regulation E
6. What types of cases referred to the Department
of Justice rose in 2009 and 2010, before dropping in

2011? a. gender b. marital status c. spousal signature d. race or national origin

Operation SCRA: Serving Our Service Members By Richard Harvey, CRCM and Ryan Rasske

7. Of the purchases below, which one must be
readjusted to six percent under The Servicemember’s
Civil Relief Act (SCRA)?
a. a home loan taken out by an active duty service
member before he or she entered active duty.
b. a car loan taken out by an active duty service
member while he or she was on active duty.
c. a condo loan taken out by an active duty service
member when he or she was on active duty.
d. a home bought by a reservist before entering the
reserves.
8. Once a bank realizes a service member is covered
under SCRA, the bank must:
a. add service charges, renewal charges, fees, and any
other charges to existing loans
b. reduce an existing loan to seven percent
c. reduce an existing loan to six percent
d. lock in all future loans at four percent