CCBCO Practice Questions - ICBA Certified Community Bank Compliance Officer Exam - CCBCO Practice Questions - ICBA Certified Community Bank Compliance Officer Exam

Question 1

Under Regulation Z and TRID, when must the Loan Estimate be delivered or placed in the mail to a consumer applying for a covered closed-end mortgage?

No later than 3 business days after the creditor receives the consumer's application No later than 7 business days after the creditor receives the consumer's application No later than 3 business days before consummation Only after the appraisal is completed

Correct Answer:

No later than 3 business days after the creditor receives the consumer's application

Question 2

A community bank issues a revised Closing Disclosure with a changed APR that exceeds the tolerance. Under TRID, what is the consumer entitled to before consummation?

A new 3-business-day waiting period before consummation Only a re-disclosure with no waiting period A 7-business-day waiting period before consummation Cancellation of the loan with no further action

Correct Answer:

A new 3-business-day waiting period before consummation

Question 3

Which of the following fees falls into TRID's zero-tolerance category, meaning the actual amount may not exceed the amount disclosed on the Loan Estimate without a valid changed-circumstance reason?

Lender origination charge Title insurance from a settlement agent the consumer shopped for off the lender list Recording fees and government taxes Property survey fee from a service provider not on the written list

Correct Answer:

Lender origination charge

Question 4

A loan is structured so the borrower's debt-to-income ratio is 41%. To rely on the General Qualified Mortgage safe harbor presumption of compliance with the Ability-to-Repay rule prior to the price-based amendment, the DTI generally could not exceed what threshold?

43% 36% 50% 28%

Correct Answer:

43%

Question 5

A community bank originates a high-cost mortgage subject to HOEPA. Which of the following is required by HOEPA before consummation?

Pre-loan counseling from a HUD-certified housing counseling agency A second appraisal regardless of loan amount Recording of the borrower's call with the lender Approval from the bank's primary federal regulator

Correct Answer:

Pre-loan counseling from a HUD-certified housing counseling agency

Exam overview

About this Exam

Prepare with the CCBCO Practice Questions - ICBA Certified Community Bank Compliance Officer Exam practice quiz. This question bank includes 100 questions covering regulation, bank, loan, consumer, and mortgage. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CCBCO Practice Questions - ICBA Certified Community Bank Compliance Officer Exam

This practice set contains 100 questions from the matching question bank and focuses on regulation, bank, loan, consumer, and mortgage. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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CCBCO Practice Questions - ICBA Certified Community Bank Compliance Officer Exam

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