Practice Test Geeks(CCT) Certified Compliance Technician Practice Test
← All CCT Flashcard Decks

Key Federal Regulations Flashcards

7 cards from real CCT practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Key Federal Regulations flashcards as text

  1. Under the Americans with Disabilities Act (ADA) Title III, financial institutions must:

    Answer: Provide equal access to goods and services for individuals with disabilities

    ADA Title III requires places of public accommodation, including financial institutions, to provide equal access to their goods and services for people with disabilities.

  2. Which federal law requires financial institutions to maintain records of cash purchases of negotiable instruments between $3,000 and $10,000?

    Answer: BSA — Monetary Instrument Log (MIL)

    The BSA requires financial institutions to maintain a Monetary Instrument Log for cash purchases of certain instruments between $3,000 and $10,000.

  3. Under the Home Ownership and Equity Protection Act (HOEPA), high-cost mortgage loans trigger additional protections when which threshold is exceeded?

    Answer: APR exceeds the Average Prime Offer Rate by defined thresholds or points/fees exceed limits

    HOEPA coverage is triggered when the APR exceeds the APOR by certain thresholds or when points and fees exceed defined limits set by the CFPB.

  4. The Children's Online Privacy Protection Act (COPPA) applies to websites that collect personal information from children under the age of:

    Answer: 13

    COPPA applies to operators of commercial websites and online services directed to children under 13, requiring verifiable parental consent for data collection.

  5. Under Regulation E (Electronic Fund Transfer Act), financial institutions must resolve error claims related to unauthorized EFTs within how many business days provisionally?

    Answer: 10 business days

    Under Reg E, institutions must provisionally credit the consumer's account within 10 business days while completing a full investigation within 45 days.

  6. The Bank Merger Act requires approval from which regulator when a national bank proposes to merge with another institution?

    Answer: OCC

    The OCC is the responsible agency for approving mergers where the resulting institution will be a national bank or federal savings association.

  7. Under the Telephone Consumer Protection Act (TCPA), prior express written consent is required before making autodialed calls or sending texts for:

    Answer: Marketing or promotional communications

    The TCPA requires prior express written consent from consumers before making autodialed or prerecorded marketing calls or sending promotional text messages.