ABA CRCM - Certified Regulatory Compliance Manager Exam
Page: 2 / 93
Total 462 questions
Question #6 (Topic: Topic 1)
Which of the following should be done during research and interpreting regulations Compliance professionals in mitigating compliance risk?
A. Track regulatory proposals
B. Implementing final regulatory rules
C. Understanding the business units’ operating environment and risk tolerance
D. Ranking solutions as high, moderate and low risk
Answer: ABD
Question #7 (Topic: Topic 1)
The compliance program should address plans to verify adherence to applicable regulations through:
A. Ongoing monitoring to evaluate the program, self monitoring and corrective action
B. Self monitoring
C. Periodic reviews
D. Ongoing monitoring to evaluate the program, self monitoring and periodic reviews
Answer: A
Question #8 (Topic: Topic 1)
There is no established template for documenting compliance risk. Each institution should develop a risk assessment that fits its risk profile. The components that
are commonly used throughout the industry are as follows EXCEPT:
are commonly used throughout the industry are as follows EXCEPT:
A. Risk assessment
B. Measuring key risk indicators
C. Identifying key performance indicators
D. Training the leadership of compliance regulation program
Answer: D
Question #9 (Topic: Topic 1)
In Compliance regulation and risk assessment key performance indicators usually include:
A. Fines or penalties
B. Customer complaints
C. Regulatory criticism from a regulator or internal or external auditors
D. None of these
Answer: ABC
Question #10 (Topic: Topic 1)
For example on a 0-5 scale:
[ABA-CRCM-1.0/xmlfile-6_1.png]
The risk trend shows the direction of risk and probable change to risk over the next 12 months. A trend toward increasing risk means that
[ABA-CRCM-1.0/xmlfile-6_1.png]
The risk trend shows the direction of risk and probable change to risk over the next 12 months. A trend toward increasing risk means that
A. Management may want to take additional action through more controls or increased reviews
B. Risk may prompt a decrease in controls and improved efficiencies
C. Controls currently in place are appropriate to succeed in keeping risks within management’s established risk-tolerance level
D. Risk measurements exceed management’s tolerance for risk
Answer: A
