CRCM Cheat Sheet 2026

The 30 highest-yield CRCM facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Which of the following would MOST likely qualify as a CRA investment under the investment test? → Investing in a Low-Income Housing Tax Credit (LIHTC) partnership in the assessment area
2. The cash drawer of Teller #1 has a mysterious $7,000 cash deficit, which the branch manager discovers. Which of the below activities is required of the bank? → File a Suspicious Activity Report (SAR)
3. Which of the following categories of workers needs to get instruction on how to utilize W-9 forms precisely? → New account officers
4. Regulation CC (Expedited Funds Availability Act) requires banks to make funds from local check deposits available no later than: → Second business day
5. The FTC's Safeguards Rule (updated 2023) requires covered financial institutions to designate: → A qualified individual to oversee the information security program
6. Regulation E disclosures MUST be given at the time of account opening when creating a deposit account online, or: → Before the first EFT occurs
7. What is the primary purpose of a 'correspondent banking' due diligence program under BSA? → To assess the AML risks of foreign financial institutions using the bank's services
8. A bank's fair lending self-assessment program should include: → Statistical analysis of lending data to detect potential disparities by protected class
9. Which of the following is an example of 'disparate treatment' in lending? → Charging minority applicants higher rates than similarly qualified non-minority applicants
10. A lender is required under ECOA to consider alimony and child support as income if the applicant chooses to disclose it. This protects primarily which group? → Divorced or separated women
11. Under GLBA, which sharing arrangement does NOT require customer opt-out rights? → Sharing customer data with affiliated companies
12. The CRA strategic plan option allows a bank to: → Set its own measurable CRA goals, subject to public comment and regulatory approval
13. Under the GLBA Safeguards Rule, covered institutions must test or monitor the effectiveness of their security controls: → Regularly, as part of the information security program
14. What does the term 'layering' refer to in the three stages of money laundering? → Moving funds through complex transactions to obscure their origin
15. A notification to customers affected by a data breach is required under: → A combination of federal agency guidance and state data breach notification laws
16. The four CRA performance rating categories are: → Outstanding, Satisfactory, Needs to Improve, Substantial Noncompliance
17. Under OFAC regulations, what must a bank do when a transaction involves a specially designated national (SDN)? → Block or reject the transaction and report to OFAC
18. What deadline has the federal agency that oversees financial institutions set for the submission of their loan application registers? → March 1 of the year following the calendar year for which the data were compiled
19. The CFPB's UDAP authority under Dodd-Frank prohibits: → Unfair, deceptive, or abusive acts or practices (UDAAP)
20. Regulation DD, which implements the Truth in Savings Act, requires depository institutions to disclose: → Minimum balance requirements and fees for deposit accounts
21. What is the primary purpose of the CAN-SPAM Act as it applies to financial institution marketing emails? → It sets standards for commercial email, including opt-out requirements
22. Which agency primarily enforces fair lending laws for national banks? → Office of the Comptroller of the Currency (OCC)
23. Which section of the GLBA covers the financial privacy provisions and requires initial and annual privacy notices? → Title V (Privacy of Consumer Financial Information)
24. Approximately how often are CRA performance evaluations typically conducted for banks in good standing? → Every 2 to 5 years, depending on bank size and prior rating
25. Under the USA PATRIOT Act Section 326, a Customer Identification Program (CIP) must, at minimum, collect which information for individual accounts? → Name, date of birth, address, and identification number
26. The Servicemembers Civil Relief Act (SCRA) provides which protection to active duty military members? → Caps interest rates on pre-service debts at 6% during active duty
27. Under the CARD Act (Credit CARD Act of 2009), credit card issuers must provide how much advance notice before increasing an interest rate? → 45 days
28. The Fair Debt Collection Practices Act (FDCPA) restricts debt collectors from contacting consumers: → Before 8 a.m. or after 9 p.m. local time
29. Which of the following is NOT one of the three performance tests applied to large banks under CRA? → Capital Adequacy Test
30. Which bank products are NOT governed by the Interagency Statement on Retail Sales of Nondeposit Investment Products' disclosure requirements? → Variable-rate savings accounts