Cuce - Ncua Rules And Regulations Exam Questions And Solutions

CAMELS rating {Ans: Capital adequacy, asset quality, management, earnings, liquidity, and sensitivity}Multiple common bond {Ans: A credit union that serves more than one group, each of which has a common bond of occupation and/or association.}How does NCUA regulate CUSO's? {Ans: NCUA indirectly regulates CUSO's by limiting the activities they can become involved in.}NCUA says there are only three eligibility requirements for FCU board membership. What are those three requirements? {Ans: Three eligibility requirements for FCU board membership: (1) the individual must be a member of the FCU; (2) the individual could not have been convicted of crime involving dishonesty or breach of trust; and (3) the bylaws allow the board to set a minimum age requirement.}IRPS {Ans: Interpretive ruling and policy statement}NCUA rules and regulations {Ans: NCUA directives that govern a particular topic and have a substantial impact on credit union operations.}