CUCO Exam 1 Study Guide

Front

The NCUA Board consists of how many members?

Back

3

Front

CFPB directly examines credit unions with: Assets over $1B, Assets over $10B, Assets over $20B, All federally insured credit unions

Back

Assets over $10B

Front

Which law created the CFPB? Options: Federal Credit Union Act, Bank Secrecy Act, Dodd-Frank Act, Truth in Lending Act

Back

Dodd-Frank Act

Front

The seven risks NCUA examines include all EXCEPT: Reputation Risk, Interest Rate Risk, Liquidity Risk, Political Risk

Back

Political Risk

Front

Which enforcement tool is the least severe? Options: Document of Resolution (DOR), Letter of Understanding & Agreement (LUA), Cease & Desist Order, Civil Money Penalty

Back

Document of Resolution (DOR)

Front

A “well-capitalized” CU has a net worth ratio of at least:

Back

7%.

Front

Which CAMELS component evaluates future earnings potential?

Back

Earnings

Front

Board officers are elected by: Members at the annual meeting, The NCUA Board, The board of directors from among themselves, Supervisory Committee

Back

The board of directors from among themselves

Front

How many members constitute a quorum at the annual meeting?

Back

15

Front

Which is TRUE of board compensation? Options: All board officers may be compensated, Only one officer may be compensated under the bylaws, Supervisory committee members may also be compensated, All directors may receive stipends

Back

Only one officer may be compensated under the bylaws