Certified Regulatory Compliance Manager (CRCM) — Question 20

Under Interagency Guidance on Subprime Lending (1999) lending policy must:

Answer options

• A. Be appropriate to the size and complexity of the operation
• B. Address the types of products offers and those not authorized
• C. Require credit file documentation
• D. All of these

Correct answer: D

Explanation

The correct answer is D because the guidance specifies that the lending policy should incorporate all these elements to ensure comprehensive risk management. Option A is too narrow, while options B and C are individual requirements that do not encompass the entirety of the policy requirements.