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Question 1

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Under the Federal Credit Union Act, which of the following is NOT one of the three permitted membership common-bond categories for a federal credit union?

Occupational

Associational

Community

Geographic-residency only

to track

2026 Statistics

Key Facts: CUCO Exam

100 Qs

Practice Bank Size

OpenExamPrep CUCO bank

25%

Lending Compliance Weight

Largest CUCO domain

$250K

NCUSIF Coverage

NCUA Part 745 per member per ownership category

12.25%

MBL Cap

NCUA Part 723 aggregate MBL ceiling

$10B

CFPB Direct Authority Threshold

Dodd-Frank Title X for credit unions

2024

CUNA + NAFCU Merger

Formation of America's Credit Unions and CUCO

CUCO is the post-merger credit union compliance designation that combines the legacy CUNA CUCE and NAFCU NCCO programs into a single America's Credit Unions credential. Earning CUCO requires completion of the Regulatory Compliance Certification School (or eSchool), passing the CUCO module exams, and documented credit union compliance experience. The exam blueprint covers the Federal Credit Union Act and NCUA regulations, BSA/AML, lending compliance, deposit compliance, UDAAP, the NCUA examination process, and the credit union compliance management system.

Sample CUCO Practice Questions

Try these sample questions to test your CUCO exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under the Federal Credit Union Act, which of the following is NOT one of the three permitted membership common-bond categories for a federal credit union?

A.Occupational

B.Associational

C.Community

D.Geographic-residency only

Explanation: The Federal Credit Union Act limits federal credit union membership to a single occupational, single associational, or community common bond (or a multiple-common-bond combination of permissible occupational and associational groups). 'Geographic-residency only' is not a separate statutory category; community charters are defined by NCUA as a well-defined local community, not residency at large.

2Which NCUA regulation governs the organization and operation of federal credit unions, including bylaws, fields of membership, and powers?

A.12 CFR Part 701

B.12 CFR Part 703

C.12 CFR Part 704

D.12 CFR Part 745

Explanation: 12 CFR Part 701 covers the organization and operation of federal credit unions, including chartering, bylaws, field of membership requirements, and core operating powers. It is the foundational NCUA rule for FCU governance and structure.

3NCUA Part 723 caps a federal credit union's aggregate member business loan (MBL) balance at what percentage of total assets, absent a waiver or exemption?

A.10%

B.12.25%

C.15%

D.25%

Explanation: Under the statutory MBL cap implemented by NCUA Part 723, a federal credit union's aggregate member business loan balance generally cannot exceed the lesser of 1.75 times net worth or 12.25% of total assets, absent a waiver or an applicable exemption such as low-income designation.

4Under NCUA Part 723, what is the loan-to-one-borrower limit on a single member commercial loan, expressed as a percentage of the credit union's net worth?

A.5%

B.10%

C.15%

D.25%

Explanation: Part 723 limits the aggregate amount of commercial loans to any one borrower or group of associated borrowers to 15% of the credit union's net worth (with a higher limit possible only when fully secured by certain readily marketable collateral). This is the credit union analogue to the bank legal lending limit.

5The NCUSIF provides standard share insurance up to what amount per member per ownership category at a federally insured credit union?

A.$100,000

B.$200,000

C.$250,000

D.$500,000

Explanation: NCUA Part 745 provides standard NCUSIF share insurance of $250,000 per member per ownership category at each federally insured credit union. Certain account categories such as IRAs and qualifying retirement accounts receive a separate $250,000 of coverage.

6A member at a federally insured credit union has a single-ownership share account with $250,000 and a separate Traditional IRA share account with $250,000. What is the maximum NCUSIF coverage for this member at the credit union?

A.$250,000 total

B.$300,000 total

C.$500,000 total

D.$750,000 total

Explanation: Under NCUA Part 745, single-ownership shares are insured up to $250,000 and certain retirement accounts including Traditional and Roth IRAs are insured separately up to $250,000. The two categories are aggregated separately, so the member is fully covered for $500,000.

7Which NCUA regulation governs the privacy of consumer financial information for federally insured credit unions and serves as the credit union analogue to Regulation P?

A.Part 707

B.Part 716

C.Part 717

D.Part 745

Explanation: NCUA Part 716 implements the privacy of consumer financial information requirements of Title V of the Gramm-Leach-Bliley Act for federally insured credit unions and is the direct credit union analogue to the CFPB's Regulation P. It governs initial, annual, and revised privacy notices and information-sharing limitations.

8Which NCUA regulation is the credit union equivalent of the Truth in Savings Act and Regulation DD, governing APY disclosures on share accounts?

A.Part 701

B.Part 707

C.Part 716

D.Part 740

Explanation: NCUA Part 707 implements the Truth in Savings Act for credit unions and parallels the CFPB's Regulation DD that applies to banks. Part 707 sets the rules for APY calculation and disclosure, periodic statements, and advertising of share accounts.

9Under NCUA Part 740, which statement about advertising of NCUSIF insurance is most accurate for a federally insured credit union?

A.Insurance disclosures are required only on print advertising

B.The official NCUA insurance sign or statement is required in most advertising of insured shares

C.Advertising must always state that NCUSIF coverage is unlimited

D.Part 740 applies only to corporate credit unions

Explanation: Part 740 generally requires federally insured credit unions to use the official NCUA insurance sign or an equivalent statement in advertising that promotes insured shares, with limited exceptions for items such as small promotional novelties and certain very brief radio or television spots. The point is to give consumers consistent notice of NCUSIF backing.

10Under NCUA Part 705, which designation provides certain regulatory benefits including exemption from the aggregate member business loan cap?

A.Minority Depository Institution

B.Low-Income Designation

C.Community Development Financial Institution

D.Corporate Credit Union

Explanation: A federal credit union with NCUA's low-income designation under Part 701 is exempt from the statutory aggregate MBL cap and may also accept secondary capital and nonmember deposits. Part 705 separately governs NCUA's Community Development Revolving Loan Fund grants and loans to low-income credit unions.

About the CUCO Exam

The Certified Credit Union Compliance Officer (CUCO) is the credit union industry's flagship compliance designation, granted by America's Credit Unions after candidates complete the Regulatory Compliance Certification School (or eSchool) and pass the CUCO module exams. CUCO replaced the legacy CUNA Credit Union Compliance Expert (CUCE) and NAFCU Certified Compliance Officer (NCCO) credentials when CUNA and NAFCU merged into America's Credit Unions in 2024.

Assessment

Multiple CUCO module exams covering federal credit union law, BSA/AML, lending, deposits, UDAAP, NCUA exams, and the compliance management system

Time Limit

Multiple modules

Passing Score

Pass mark set by ACU

Exam Fee

Regulatory Compliance Certification School ~$2,000-3,000 + exam fees (America's Credit Unions)

CUCO Exam Content Outline

15%

Federal Credit Union Act & NCUA Regulations

Federal Credit Union Act common-bond requirements (occupational, associational, community), NCUA Part 701 organization and operation, Part 703 investment activities, Part 704 corporate credit unions, Part 705 CDFI and low-income designation, Part 723 member business loans (loan-to-one-borrower 15% net worth and 12.25%-of-assets MBL cap), Part 740 NCUSIF advertising, Part 745 share insurance ($250K per member per ownership category), Part 712 CUSO rules, MDI preservation under Dodd-Frank Section 342, and the risk-based capital rule for complex credit unions $500M+.

15%

BSA/AML, OFAC, and FinCEN for Credit Unions

Bank Secrecy Act program elements, Customer Identification Program, the CDD Final Rule and beneficial ownership, CTR filing on FinCEN Form 112 for cash transactions over $10,000, SAR filing on FinCEN Form 111 within 30 (or 60) days, OFAC sanctions screening, recordkeeping, and credit union BSA officer responsibilities.

25%

Lending Compliance

Regulation Z and TRID for credit union mortgages, Regulation B/ECOA prohibited bases and adverse action, Regulation X/RESPA, Military Lending Act 36% MAPR cap, SCRA 6% rate cap on pre-service obligations, SAFE Act mortgage loan originator registration through the NMLS, Regulation V/FCRA fair credit (NCUA Part 717), and credit union member business lending.

15%

Deposit Compliance

Regulation E electronic fund transfer rules and 60-day error resolution for Zelle and other CU disputes, Regulation DD/Truth in Savings (NCUA Part 707 for federally insured credit unions) APY disclosures, Regulation CC funds availability, Regulation D transaction account treatment, Regulation P/GLBA privacy notices, and NCUA Part 716 privacy of consumer financial information.

10%

UDAAP & CFPB Enforcement

Dodd-Frank Section 1031 unfair, deceptive, or abusive acts or practices; CFPB direct supervisory authority over credit unions with assets over $10 billion (with NCUA sharing examination authority for credit unions at or under $10B); current CFPB scrutiny of NSF and overdraft fee practices; UDAAP risk assessments and consumer complaint management.

10%

NCUA Examination Process

NCUA AIRES (Automated Integrated Regulatory Examination Software), Documents of Resolution, Letters of Understanding and Agreement, CAMELS rating components (Capital, Asset quality, Management, Earnings, Liquidity, Sensitivity to market risk), exam scope and frequency, supervisory committee responsibilities (the credit union equivalent of a bank audit committee), and how compliance findings escalate.

10%

Compliance Management System & Risk Assessment

Board oversight, the three lines of defense, risk assessments, policies and procedures, training, complaint management, monitoring and testing, internal audit, change management, third-party risk, and how the credit union supervisory committee fits within the CMS.

How to Pass the CUCO Exam

What You Need to Know

Passing score: Pass mark set by ACU
Assessment: Multiple CUCO module exams covering federal credit union law, BSA/AML, lending, deposits, UDAAP, NCUA exams, and the compliance management system
Time limit: Multiple modules
Exam fee: Regulatory Compliance Certification School ~$2,000-3,000 + exam fees

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

CUCO Study Tips from Top Performers

1Build a one-page map of NCUA regulations by Part number (701, 703, 704, 707, 716, 717, 723, 740, 745) so you can quickly recognize which Part a question is asking about.

2Master the credit union analogues to bank rules: Part 707 mirrors Regulation DD, Part 716 mirrors Regulation P, NCUSIF mirrors FDIC, and Part 745 mirrors FDIC share insurance categories.

3Memorize the Part 723 member business lending limits cold — 15% of net worth loan-to-one-borrower and 12.25% of assets aggregate MBL cap absent a waiver — they show up frequently.

4Practice BSA filing thresholds and timing as flashcards: CTR FinCEN Form 112 for cash over $10,000 and SAR FinCEN Form 111 within 30 days (60 with no suspect identified).

5Drill the NCUA exam vocabulary — AIRES, DOR, LUA, CAMELS, supervisory committee — because exam-process questions reward precise terminology rather than general compliance instincts.

Frequently Asked Questions

Does the CUCO designation replace NCCO and CUCE?

Yes. After CUNA and NAFCU merged in 2024 to form America's Credit Unions, the legacy CUNA Credit Union Compliance Expert (CUCE) and NAFCU Certified Compliance Officer (NCCO) credentials were retired and unified into the new Certified Credit Union Compliance Officer (CUCO) designation. America's Credit Unions positions CUCO as combining the strongest elements of both predecessor programs.

How do I earn the CUCO designation?

Candidates must complete the Regulatory Compliance Certification School (in person or as an eSchool), pass the CUCO module exams covering federal credit union law, BSA, lending, deposits, UDAAP, NCUA exams, and the compliance management system, and document the required credit union compliance experience set by America's Credit Unions.

What topics does the CUCO exam cover?

The CUCO blueprint covers the Federal Credit Union Act and NCUA regulations (15%), BSA/AML, OFAC, and FinCEN for credit unions (15%), lending compliance including Reg Z, B, X, TRID, MLA, SCRA, and the SAFE Act (25%), deposit compliance including Reg E, DD, CC, D, and P (15%), UDAAP and CFPB enforcement (10%), the NCUA examination process (10%), and the credit union compliance management system and risk assessment (10%).

How is CUCO different from a bank-side compliance certification like CRCM?

CRCM is the American Bankers Association credential for bank compliance professionals and emphasizes federal banking regulations such as Regulation Z, Regulation E, BSA, CRA, and HMDA in a bank context. CUCO is the parallel credit union credential and adds credit union-specific topics such as the Federal Credit Union Act common-bond rules, NCUA Parts 701-745, the NCUSIF, member business lending caps, the supervisory committee, and CFPB authority over credit unions over $10B in assets.

Is the CFPB the credit union compliance regulator?

It depends on asset size. For federally insured credit unions with $10 billion or less in assets, the NCUA is the primary federal compliance examiner, although the CFPB still writes the consumer regulations. For credit unions with more than $10 billion in assets, the CFPB has direct examination and enforcement authority over federal consumer financial laws.

How much does it cost to earn the CUCO designation?

The largest cost is the Regulatory Compliance Certification School or eSchool, which America's Credit Unions typically prices in the $2,000 to $3,000 range, plus the CUCO module exam fees. Total program cost varies by member status and whether the candidate completes the live school or the eSchool format, so candidates should confirm current pricing on the America's Credit Unions designations page.