Exam (elaborations)
2024 NCRM CERTIFICATION EXAM WITH CORRECT ANSWERS
- Course
- Institution
2024 NCRM CERTIFICATION EXAM WITH CORRECT ANSWERS
[Show more]
Content preview
2024 NCRM CERTIFICATION EXAMWITH CORRECT ANSWERS
The NCUA exam is considered a ______ focused exam to meet its statutory
obligation to oversee FICU's - CORRECT-ANSWERSRisk based exam
What is the NCUA rating system called? - CORRECT-ANSWERSCAMELS
What does CAMELS stand for? - CORRECT-ANSWERSCapital adequacy
Asset quality
Management
Earnings
Liquidity
Sensitivity to market risk
What priority suspends the requirement to categorize certain loan
modification as troubled debt restructuring - CORRECT-ANSWERSCARES
Coronavirus aid, relief and economic security act
What are the areas of emphasis for the BSA/AML supervisory priorit? -
CORRECT-ANSWERSCustomer due diligence, beneficial ownership, SAR, CTR,
314(a)
Consumer financial protect pretains to which risk categories - CORRECT-
ANSWERSCompliance risk, strategic risk, reputation risk
focus on fair lending and areas related to the pandemic. which priority does
this pertain to? - CORRECT-ANSWERSConsumer Financial protection
CARES act relates to which risk categories - CORRECT-ANSWERSCompliance
risk, Credit risk and transaction risk
BSAAML compliance relates to which risk categories - CORRECT-
ANSWERSCompliance risk
ALLL accounts relate to which risk categories - CORRECT-ANSWERSCredit risk
A review of loan underwriting standards and credit risk management
procedures is part of which priority? - CORRECT-ANSWERSCredit Risk
Management
, Credit risk management relates to which risk categories - CORRECT-
ANSWERSCredit risk and compliance risk
the use of the InTREx-CU allows examiners to id and remediate potential
high risks as well as conform with industry standard results is part of which
priority - CORRECT-ANSWERSInformation security and awareness
(cybersecurity)
Info security and awareness (cybersecurity) relates to which risk categories?
- CORRECT-ANSWERSTransaction risk, compliance risk and reputation risk
the safety and soundness of the credit unions preparation to transition to an
alternative reference rate is part of which priority - CORRECT-
ANSWERSLIBOR transition
sudden and significant share outflows, changes in cash flow projection such
as prepayment speed, decay rates, share composition, effects of loan
payment forbearance, are all related to which priority - CORRECT-
ANSWERSLiquidity risk
Liquidity risk relates to which risk categories - CORRECT-ANSWERSLiquidity
risk, credit risk and interest rate risk
Hemp related business relates to which risk categories - CORRECT-
ANSWERSCompliance, strategic, transaction and reputation
misreporting or delay of reporting of the Call report relates to what risk
categories - CORRECT-ANSWERSCompliance and reputation
risk categories related to CUSOs - CORRECT-ANSWERScredit, interest,
liquidity, reputation, transaction, compliance, strategic
risk categories related to earnings - CORRECT-ANSWERScredit, interest,
liquidity, reputation, transaction, compliance, strategic
risk categories related to electronic payment systems - CORRECT-
ANSWERScredit interest liquidity transaction reputations compliance
strategic
Electronic payments systems exposes the Credit union to third party risk -
CORRECT-ANSWERStrue
risk categories related to employee benefits and investment for employee
benefits - CORRECT-ANSWERSCredit liquidity interest rate transaction
reputation compliance strategic
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Elitaa. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77983 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now