CRA Study Guide 2026
Everything you need to pass the CRA exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CRA Exam Format at a Glance
📚 CRA Topics to Study (21)
✍️ Sample CRA Questions & Answers
1. Why is documentation critical in compliance?
Comprehensive documentation is essential in compliance as it provides verifiable evidence that an organization has met its legal and regulatory obligations. This documentation is critical for internal and external audits, demonstrating due diligence and accountability, and can be crucial in legal proceedings.
2. Which of the following assets is NOT typically eligible as a High-Quality Liquid Asset (HQLA) under Basel III?
Only corporate bonds rated AA- or higher qualify as Level 2B HQLA; bonds rated below AA- do not meet the eligibility threshold.
3. Which governance mechanism ensures that the risk function maintains independence from business line pressures?
Independence of the risk function is preserved when the CRO reports directly to the board or CEO, preventing business units from overriding or suppressing unfavorable risk assessments.
4. Asset-liability mismatch risk arises primarily when:
Asset-liability mismatch occurs when liabilities mature before the assets they fund, exposing the bank to rollover and refinancing risk.
5. Stakeholder mapping in risk communication helps risk managers to:
Stakeholder mapping allows risk managers to customize the depth, format, and frequency of risk communications based on each stakeholder's role and decision-making authority.
6. In liquidity risk management, a bank's survival horizon represents:
The survival horizon measures how long a bank can continue operating in a stress scenario relying solely on its existing liquidity reserves without new funding.