Certified Regulatory Compliance Manager (CRCM) — Question 107

Records regarding compliance with Regulation M must be kept for how long?

Answer options

• A. Five years following consummation of the lease
• B. Two years after the disclosures are made
• C. Twenty-five months from consummation
• D. One year from the time the disclosures are made

Correct answer: B

Explanation

The correct answer is B because Regulation M mandates that records must be maintained for two years after disclosures have been made. Options A, C, and D do not align with this requirement, as they specify incorrect durations for record retention.