Certified Regulatory Compliance Manager (CRCM) — Question 75

In Processing and evaluating applications""12 CFR 202.6, protected income part is also under discussion. Which of the following considerations is NOT its part?

Answer options

• A. Public assistance income may not consider whether an applicant's income is from a public assistance source
• B. Public assistance income may consider as it relates to another pertinent element of creditworthiness
• C. May consider length of time public assistance income will be received, whether the applicant will continue to qualify for the income, and whether the income can be garnished
• D. Can discount or refuse to consider the following: Part-time income Annuities Pensions Retirement benefits Alimony, child support, and separate maintenance payments to the extent they are likely to be consistently made

Correct answer: D

Explanation

The correct answer is D because it describes considerations that can be excluded, which is not part of the protected income criteria. Options A, B, and C all refer to aspects that may be taken into account when evaluating public assistance income, aligning with the regulations of 12 CFR 202.6.