RMS TE general quiz 2 Exam Questions Verified Correct Answers Current Update (A+ Pass)
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RMS TE general
Institution
RMS TE General
RMS TE general quiz 2 Exam Questions Verified Correct Answers Current Update (A+ Pass)
The standard exam cycle lasts this long: - Answers - 12 months
A well-capitalized bank that is less than $3 billion, management and composite 1 or 2, with no formal actions or recent change in control, qual...
RMS TE general quiz 2 Exam Questions
Verified Correct Answers Current Update
(A+ Pass)
The standard exam cycle lasts this long: - Answers -✔✔ 12 months
A well-capitalized bank that is less than $3 billion, management and composite 1 or 2,
with no formal actions or recent change in control, qualifies for this exam cycle: -
Answers -✔✔ 18 months
After an enforcement action, a visitation is required to monitor compliance with
corrective programs within: - Answers -✔✔ 6 months
De novo period lasts: - Answers -✔✔ 3 years
De novo banks are on an exam cycle of: - Answers -✔✔ 12 months
Interim bank contact should occur within _______ of the midpoint between S&S exams.
- Answers -✔✔ 30 days
Within what time frame do we need to have a follow-up visit with a bank that acquires
assets covered by an LSA (or deposit transfer) from failed bank? (If they aren't 1 or 2
rated, or transaction is > 10% of deposits) - Answers -✔✔ 30 days
1-4 family RE loans should be risk-weighted 100% if past due at least: - Answers -✔✔
90 days
Assets (other than 1-4 family RE loans) should be risk-weighted 150% if past due at
least: - Answers -✔✔ 90 days
Open-end retail credits are Pass if past due less than: - Answers -✔✔ 90 days
Closed-end retail credits are Pass if past due less than: - Answers -✔✔ 90 days
Open-end retail credits are Substandard if past due between 90 days and: - Answers -
✔✔ 180 days
Closed-end retail credits are Substandard if past due between 90 days and: - Answers -
✔✔ 120 days
Open-end retail credits are Loss if past due: - Answers -✔✔ 180 days
, Closed-end retail credits are Loss if past due: - Answers -✔✔ 120 days
Bank needs to obtain a current assessment of collateral value for 1-4 family RE loans
before the loan becomes ________ past due. - Answers -✔✔ 180 days
Fraudulent loans should be charged off within how long after discovery? - Answers -
✔✔ 90 days
Loans in bankruptcy should be charged off within how long after bank is notified?
(Unless bank can clearly demonstrate & document that repayment is likely) - Answers -
✔✔ 60 days
An open-end retail credit must be at least how old to be considered for re-aging? -
Answers -✔✔ 9 months
An open-end retail credit cannot be re-aged more than once within what time period? -
Answers -✔✔ 12 months
An open-end retail credit cannot be re-aged more than twice within what time period? -
Answers -✔✔ 5 years
An open-end retail credit cannot be re-aged *for workout purposes* more than once
within what time period? - Answers -✔✔ 5 years
Cash items are generally put in a suspense account after how long? - Answers -✔✔ 3
days
DTAs from NOL: If a bank has a net loss in a year following a year w/ taxable income,
how far can they carry the loss back, to recover some of the taxes they previously paid?
- Answers -✔✔ 2 years
DTAs from NOL: If a bank has a net loss in back-to-back years, they get an operating
loss carryforward that is valid for how long? - Answers -✔✔ 20 years
Under the amortization method, MSAs should be assessed for impairment within what
time interval? - Answers -✔✔ Quarterly
Under the fair value method, MSAs should be measured at fair value within what time
interval? - Answers -✔✔ Quarterly
A bank needs to test its intangible assets for impairment within what time interval? -
Answers -✔✔ Annually
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