Before diving into CRCM Exam Prep , it’s essential to understand what the exam entails. The CRCM exam is administered by the American Bankers Association (ABA) and is designed to assess a candidate’s knowledge and application of compliance laws and regulations in the financial sector.

CRCM Exam Format

• Number of Questions: 150 multiple-choice questions

• Time Limit: 4 hours

• Passing Score: Determined using a scaled scoring methodology

• Exam Fee: $750 for ABA members, $1,095 for non-members

• Eligibility Requirements:

  • At least three years of experience in regulatory compliance

  • Completion of ABA-approved compliance training programs or equivalent educational background

Core Topics Covered

The CRCM exam prep should focus on five main areas:

1. Regulatory Compliance Framework (15-25%)

   • Laws and regulations impacting financial institutions

   • Role of compliance in risk management

   • Compliance program implementation

2. Compliance Risk Management (20-30%)

   • Risk assessment methodologies

   • Internal controls and monitoring

   • Auditing and reporting compliance risks

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1. Privacy, Data Protection, and Consumer Protection (15-25%)

   • Consumer rights and financial privacy laws

   • Data security regulations (e.g., GDPR, GLBA)

   • Fair lending practices and anti-discrimination laws

2. Deposit and Lending Compliance (20-30%)

   • Truth in Lending Act (TILA)

   • Real Estate Settlement Procedures Act (RESPA)

   • Equal Credit Opportunity Act (ECOA)

3. Anti-Money Laundering (AML) and Financial Crimes Compliance (10-20%)

   • Bank Secrecy Act (BSA) compliance

   • Anti-money laundering (AML) policies and procedures

   • Suspicious Activity Reports (SARs) and due diligence processes