Presented by Brandy Bruyere, Vice President of Regulatory - - PowerPoint PPT Presentation

Presented by

Brandy Bruyere, Vice President of Regulatory Compliance

Tuesday, March 14 2017

Breaking Down the NCCO Exam

• Earning the NCCO designation requires an

individual to pass four exams.

• Each exam has 50 multiple choice questions with
• ne hour to complete the exam.
• The minimum score to pass each exam is a 76%,

which translates to 38 out of 50 questions.

• The GPS is divided into four key areas.
• The four exams do not correlate directly to the
• rganization of the GPS. Instead, follow the Study

Guide which also notes the corresponding chapter and section of the GPS.

NCCO Exams

Studying for the Exams

• Self study versus Regulatory Compliance School
• Self study: take each exam at your own pace, so long as you

finish all four exams within one year of purchasing the exam package.

• Regulatory Compliance School: take each exam on site on

four of the five days of School the morning after the material is taught. For those attending in Arlington, skipped or make up exams can also be taken at your credit union up until December 31, 2017. If you’re coming to San Diego, you’ll have until June 30, 2018.

• Whether self studying or taking the NCCO exams at

Regulatory Compliance School, the GPS is your textbook and the study guide is your best resource for ensuring you are prepared.

Studying for Exams – The GPS

• The GPS is organized into four chapters
• Chapter 1 – Fundamental Credit Union Issues, addressing topics

like bylaws, field of membership, the Federal Credit Union Act and NCUA, the CFPB, rules on board functions, statutory liens, credit union powers, and preemption.

• Chapter 2 – Member Accounts, including Regulation D (reserve

requirements), Regulation E, share insurance, Regulation CC, Truth in Savings, and the E-SIGN Act.

• Chapter 3 – Lending, which covers NCUA’s lending rules,

Regulation Z including TRID, mortgage servicing, RESPA, fair lending, Regulation B and the FCRA.

• Chapter 4 – BSA, Privacy and Security, which also includes OFAC,

Regulation P, the affiliate marketing rule and vendor management.

• Appendices are not tested.

• The Study Guide can serve as a tool for making the

most of the GPS.

• Suggestion – review the bulleted questions in the

different sections of the study guide before reading tackling and reading a section of the GPS. This will help you issue spot as you read the material for the first time. Then, review these bullet points again after reading the relevant GPS section.

• Suggestion – skim, then read. This seems

counterintuitive but can help you work through the material faster and more efficiently.

Studying for Exams – The GPS

General Preparation

• At School – there will be time and space

allotted for a study hall and NAFCU staff will be available to help you with questions.

• Determine your study style – Group or

individual? Long term or short term?

• Remember to take breaks to take care of
• yourself. This keeps you sharp and focused.
• Self care – For those coming to School, it can

be a long week. Eating right, getting enough sleep, stress management, etc. all help.

• The Study Guide includes the number of exam

questions per section.

• This can help you plan out your studying. Focus on the

sections that give you the most exam material to tackle.

• Write out answers to the questions posed in the Study
• Guide. Then, find that information in the GPS to see if

your answer was complete. If you missed anything, add that in so you can use these to study.

• The Study Guide includes sample questions. These are a

good starting point, although you may want to consider also creating some of your own hypothetical test questions to use as you study.

Study Tips – the Study Guide

• Make your own study materials. Flashcards work for

some people. Self-made mock exams work for others.

• There is a website called Quizlet which has free tools that will

take information you enter and turn it into flash cards, practice tests and other study games.

• There may be a time lag between when you began

studying the material for an exam and when you can

• test. Using materials you created as you tackled the GPS

to review is helpful

• Revisit the bulleted questions in the Study Guide and try

to answer them “blind” again and self-check again.

Study Tips – Exam Preparation

Tackling the Exam

• These are some preliminary items that may seem
• bvious but test taking is stressful for many people

so it can be easy to forget some details.

• Take a deep breath! Remaining calm is key to

staying focused and making good choices.

• Make sure your answer sheet is filled in with your

name and which exam you are taking.

• The exam is a Scantron, so be sure to use a

number 2 pencil and clearly bubble in the answer.

• If you have to erase, try to erase as cleanly as

possible.

Tackling the Exam

• Like many exams, it tests your knowledge but also provides a

finite amount of time to test.

• For the NCCO exams, you have just over one minute per

question so time management is important.

• Eliminate any wrong answers you can.
• If you can narrow a question to two options, but just cannot decide,

make a choice but flag the question to revisit in case you do have time to think more.

• There is no penalty for a wrong exam answer, so if you just do

not know, then make your best guess.

• Review your answers carefully, especially if you are skipping a

question for later. Some test takers circle answers in their test booklet and complete the Scantron in the final minutes of the exam.

Exam 1

• Chapter 1, Section 1: Organization, Bylaws and FOM – 12 Questions
• Chapter 1, Section 2: The Legislative and Regulatory Process – 6 Questions
• Chapter 1, Section 3: The Federal Credit Union Act & the NCUA – 5 Questions
• Chapter 1, Section 4: The CFPB – 3 Questions
• Chapter 1, Section 5: NCUA Supervision and Examination – 6 Questions
• Chapter 1, Section 6: Special Credit Union Issues – 12 Questions
• Chapter 2, Section 3: Share Insurance – 6 Questions

Exam 2

• Chapter 2, Section 1: Regulation D – 4 Questions
• Chapter 2, Section 2: Regulation E – 10 Question
• Chapter 2, Section 4: Regulation CC – 7 Questions
• Chapter 2, Section 6: Truth in Savings – 10 Questions
• Chapter 3, Section 7: E-SIGN Act – 4 Questions
• Chapter 4, Section 2: Privacy of Member Information – 15 Questions

Exam 3

• Chapter 3, Section 1: NCUA’s Lending Requirements – 8 Questions
• Chapter 3, Sections 2 - 5: CFPB’s Regulation Z – 10 Questions
• Chapter 3, Section 6: TILA/RESPA Integrated Disclosures – 4 Questions
• Chapter 3, Section 7: Ability-to-Repay / Qualified Mortgages - 4 Questions
• Chapter 3, Section 9: Loan Originator Rule – 2 Questions
• Chapter 3, Section 10: Regulation B Appraisal Rule – 2 Questions
• Chapter 3, Section 11: Special Protections for High-Cost Mortgages – 1 Question
• Chapter 3, Section 12: Higher-Priced Mortgages – 1 Question
• Chapter 3, Section 13: Homeownership Counseling & Disclosure Requirements –

1 Question

• Chapter 3 Section 14: Lending to Servicemembers - MLA & SCRA – 6 Questions
• Chapter 3, Section 15: Regulation B – 4 Questions
• Chapter 3, Section 16: Fair Lending – 3 Questions
• Chapter 3, Section 18: Fair Credit Reporting Act – 4 Questions

Exam 4

• Chapter 3, Section 8: Mortgage Servicing – 10 Questions
• Chapter 3, Section 17: RESPA – 4 Questions
• Chapter 4, Section 1: BSA and OFAC – 18 Questions
• Chapter 4, Section 3: Information & Data Security – 14 Questions
• Chapter 4, Section 4: Vendor Management – 4 Questions

Questions?

Contact Information:

Brandy Bruyere, Vice President of Regulatory Compliance: bbruyere@nafcu.org

Contact Information