Free CCBCO Practice Questions

Question 1

A purchase-mortgage closing is scheduled for this afternoon. The borrower received the Closing Disclosure on time. This morning, a property-tax proration increases cash to close; the APR remains accurate, the loan product is unchanged, and no prepayment penalty is added. For this change, federal disclosure rules require the closing team to:

Accepted Answer

Provide a corrected Closing Disclosure at or before consummation without restarting the waiting period.

Answer

Wait three business days because the borrower's cash to close has increased.

Answer

Wait seven business days because the adjustment changes the original Loan Estimate.

Answer

Proceed with closing today and send a corrected Closing Disclosure within 30 days after consummation.

Question 2

A customer reports an unauthorized ACH debit by telephone 12 days after the statement showing it was sent. The personal checking account has been active for two years, and the transfer was initiated in the United States. The call identifies the account and disputed transfer. During that call, the bank requests written confirmation within 10 business days and gives the submission address. That period has now expired, no confirmation has arrived, and the bank cannot yet finish its investigation. What effect does the missing confirmation have under Regulation E?

Accepted Answer

Provisional credit is not required, but the investigation must be completed within 45 calendar days of the call.

Answer

The bank may suspend its investigation until confirmation arrives and then begin a new 10-business-day investigation period.

Answer

Provisional credit remains mandatory before the bank can extend its investigation to 45 calendar days after the original call.

Answer

The bank may extend its investigation to 90 calendar days because the customer has alleged an unauthorized electronic transfer.

Question 3

Maria applies in her own name for a loan for her sole proprietorship. She qualifies for the requested amount and terms without her spouse's income or guarantee. The warehouse offered as collateral is jointly owned. Bank counsel confirms that her spouse must sign the mortgage to create an enforceable lien but need not sign the note. Which signature requirement complies with Regulation B?

Accepted Answer

Require the spouse to sign the mortgage, but not the note or a personal guarantee.

Answer

Require both spouses to sign the note because they jointly own the collateral.

Answer

Require a spousal guarantee rather than the spouse's signature on the note.

Answer

Require a joint credit application before accepting any collateral that includes an ownership interest held by the spouse.

Question 4

In September 2026, rate-lock review of a $240,000 first-lien, fixed-rate consumer mortgage on a site-built principal residence shows an APR of 8.10% and an applicable average prime offer rate (APOR) of 6.20%. The loan is below the conforming loan limit and meets all General Qualified Mortgage requirements other than the pricing test being evaluated. Neither points and fees nor a prepayment term triggers HOEPA coverage. Which pricing classification fits this loan?

Accepted Answer

A higher-priced mortgage loan; a General QM with a rebuttable presumption; not a HOEPA high-cost mortgage.

Answer

Not a higher-priced mortgage loan; a safe-harbor General QM; not a HOEPA high-cost mortgage.

Answer

A higher-priced mortgage loan; ineligible for General QM status because its spread exceeds the QM ceiling; not a HOEPA high-cost mortgage.

Answer

A higher-priced mortgage loan; ineligible for General QM status because its spread triggers HOEPA; a HOEPA high-cost mortgage.

Question 5

On Monday, September 21, 2026, before the teller cutoff, a customer deposits $900 in cash and two ordinary personal checks for $4,200 and $4,800 into a checking account opened two years earlier. The checks are drawn on other U.S. banks. There are no other deposits that day or intervening holidays. The bank uses Regulation CC's standard schedule, properly invokes only the large-deposit exception, and gives the required notice. What is the minimum amount from this deposit that must be available Tuesday, and the maximum amount eligible for an extended hold solely under that exception?

Accepted Answer

$1,175 available Tuesday; $2,275 eligible for the extended hold.

Answer

$1,450 available Tuesday; $2,275 eligible for the extended hold.

Answer

$1,175 available Tuesday; $3,175 eligible for the extended hold.

Answer

$7,625 available Tuesday; $2,275 eligible for the extended hold.

Question 6

An unaffiliated title company leases an office inside a community bank for a fixed, documented fair-market rent. The space is actually occupied, and rent does not depend on referrals. A separate clause pays the bank $125 for each referred settlement involving a federally related mortgage loan; the bank performs no settlement services. Under RESPA Section 8, the compliance officer can approve:

Accepted Answer

The rent alone, with the separate referral-payment clause removed from the agreement.

Answer

Both payments, if borrowers receive a written referral-fee disclosure.

Answer

The rent and a fixed annual referral fee, provided the fee for each completed settlement is eliminated.

Answer

Neither payment, because a settlement-service provider may not pay a bank that refers mortgage business.

Question 7

To mail promotions for its own deposit products, a bank hires a nonaffiliated mailing company. Customers have received an initial privacy notice that accurately describes this sharing. A written contract limits the company's use and disclosure of customer names and addresses to performing the mailing for the bank; account numbers are not shared. Which conclusion applies to Regulation P's opt-out requirement?

Accepted Answer

An opt-out opportunity is not required for this contracted service.

Answer

An opt-out opportunity is required because the mailing markets products rather than services an existing account.

Answer

Affirmative consent is required for nonaffiliate sharing.

Answer

An opt-out opportunity is unnecessary only if the mailing company is itself a financial institution.

Question 8

The spouse of an active-duty servicemember is verified as a covered borrower under the Military Lending Act. A new $8,000 unsecured consumer installment loan would have a Truth in Lending APR of 29%. Including the optional credit-insurance premium produces a correctly calculated military annual percentage rate (MAPR) of 39%. What is the compliance implication of these figures?

Accepted Answer

The offered terms exceed the 36% MAPR limit; optional credit insurance cannot be omitted from MAPR.

Answer

The 29% Truth in Lending APR establishes compliance with the federal rate cap.

Answer

The terms meet the limit if the borrower signs an election confirming that the credit insurance was optional.

Answer

The loan must carry no more than 6% interest because the borrower is covered by the Military Lending Act.

Question 9

A $400,000 warehouse loan matures tomorrow, and an FDIC-supervised bank plans a five-year renewal with no new advances. Today's review discovers that flood coverage has lapsed. The building is in a special flood hazard area in a community participating in the National Flood Insurance Program. How does the impending renewal affect the bank's flood-insurance duty?

Accepted Answer

Required flood coverage must be effective before the bank renews the loan.

Answer

Unchanged principal permits renewal without restoring coverage first.

Answer

Sending the borrower a 45-day insurance notice permits renewal while the building remains uninsured during that period.

Answer

An insurance application and paid premium permit renewal even if the policy's coverage begins after the renewal date.

Question 10

Marketing submits a 'Free Checking' advertisement. The account requires a $100 opening deposit and has an $8 monthly maintenance fee waived when the customer maintains a $1,000 average balance. Customers may also request stop payments for $20 each or printed checks for $15 per order. All terms and fees are clearly disclosed in the advertisement. Which feature prevents the account from being advertised as free under Regulation DD?

Accepted Answer

The $8 monthly maintenance fee that applies below the balance requirement.

Answer

The $100 deposit required when a customer first opens the account.

Answer

The $20 charge imposed whenever a customer requests a stop payment.

Answer

The $15 charge imposed when a customer orders optional printed checks.

Free CCBCO Practice Questions

Domain 1: Lending Compliance

Question 1

Question 2

Question 3

Question 4

Question 5

Question 6

Domain 2: Deposit & Marketing Compliance

Question 7

Question 8

Question 9

Question 10

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