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.
CRCM
Certified Regulatory
Compliance Manager
Avoiding ATR/QM Payment Potholes and Pitfalls
By Patti Blenden
1. A safe harbor is provided for loans that:
a. are priced higher than the average mortgage
market rate.
b. that fulfill the mandated contract terms.
c. don’t require borrower documentation.
d. require a balloon payment at the end.
2. To comply with the QM/ATR suitability requirements,
payment must be calculated to what frequencies?
a. Weekly
b. Biweekly
c. Monthly
d. Quarterly
Smoking Out the Compliance Challenges in the
Wake of Marijuana Legalization
By Zane Gilmer
3. The cultivation, possession, and distribution of
marijuana is legal in:
a. Virginia
b. Washington
c. Illinois
d. Nevada
4. What landmark figure did marijuana sales almost hit
during the first week it was legally sold in Colorado?
a. $1 Million
b. $3 Million
c. $5 Million
d. $10 Million
5. A week into marijuana legalization in Colorado,
which credit card company advised it will not strictly
enforce its policy of prohibiting the use of their card
networks for the purchase of marijuana?
a. Visa
b. MasterCard
c. Discover
d. American Express
6. What is the goal of the “Marijuana Businesses
Access to Banking Act of 2013?”
a. To create protections for depository institutions
that provide financial services to marijuana-related
businesses.
b. To require credit card providers to strictly enforce
their policy of prohibiting the use of their card
networks for the purchase of marijuana.
c. To allow marijuana providers to deposit their earnings
in offshore accounts.
d. To ensure that any business selling marijuana also
offers Doritos.
Change Management - Revisited
By William (Wylli) Foote, CRCM
7. Outside of your institution’s primary regulatory
agency’s guidance, where is a good place to start
in the quest to identify the risk attributes that are
relevant to the risk assessment effort?
a. The Department of Justice
b. The Committee of Sponsoring Organizations
c. The Institute of Risk Management
d. The Actuarial Standards Board
Real-World BSA Threats and Solutions
By John Mayer and Joe Soniat
8. Where do BSA regulators and law enforcement
officials believe that criminals will go to commit
illegal actions?
a. Big, National Banks
b. Insurance Companies
c. Smaller Community Financial Institutions
d. Trade Associations
9. This one group is vulnerable to both “checks written
to cash” and wire fraud schemes?
a. Single women
b. Young professionals
c. College students
d. The elderly
10. What organization has shone a light on the threat
of multiple monetary instruments going to the same
payee?
a. The Financial Crimes Enforcement Network
b. The Department of Homeland Security
c. The Federal Bureau of Investigation
d. The Federal Deposit Insurance Corporation
