Download Banking.CRCM.NewDumps.2018-05-25.275q.tqb

Vendor: Banking
Exam Code: CRCM
Date: May 25, 2018
File Size: 1011 KB

Demo Questions

Question 1
________________is defined as every aspect of an applicant’s dealing with a creditor, beginning with information gathering and continuing through to the servicing and collection of the loan.
  1. Credit terms
  2. Credit rating
  3. Credit transaction
  4. Credit application
Correct answer: C
Question 2
In Processing and evaluating applications—12 CFR 202.6, protected income part is also under discussion. Which of the following considerations is NOT its part?
  1. Public assistance income may not consider whether an applicant’s income is from a public assistance source
  2. Public assistance income may consider as it relates to another pertinent element of creditworthiness
  3. May consider length of time public assistance income will be received, whether the applicant will continue to qualify for the income, and whether the income can be garnished
  4. Can discount or refuse to consider the following: 
    Part-time income 
    Retirement benefits 
    Alimony, child support, and separate maintenance payments to the extent they are likely to be consistently made
Correct answer: D
Question 3
Credit scoring systems:
  1. Evaluate an applicant’s creditworthiness mechanically, based on key attributes of the applicant and aspects of the transaction, and determine, alone or in conjunction with an evaluation of additional information about the applicant, whether an applicant is deemed creditworthy
  2. Are evaluated by regulatory agencies to determine whether they are empirically derived and statistically sound and to examine: 
    The bank’s policies on the use of the credit scoring system 
    Training of bank employees on the use of the system 
    The number of high-side and low-side overrides of the system
  3. Both of these
  4. None of these
Correct answer: C

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