American Bankers Association Exam CRCM Topic 9 Question 4 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 4
Topic #: 9

Which one of the following is out of the FIRREA penalties included in the enforcement section of Adjusted Mortgage Regulation (12 CFR 34)?

APenalties up to $7,500 per day for violations of laws and regulations

BPenalties up to $47,500 per day if violations or unsafe or unsound practices are engaged in recklessly or are part of a pattern of misconduct that causes more than a minimal loss to the bank or any pecuniary gain to the parties involved

CPenalties up to $1,375,000 per day against persons who knowingly commit a violation and knowingly or recklessly cause a substantial loss to the bank or a substantial benefit to the party

DPenalties up to $6,500 per day for violations of laws and regulations

Show Suggested Answer

Suggested Answer: A, C

by Arminda at May 08, 2022, 11:11 PM

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