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ABA CRCM Practice Test - Questions Answers, Page 13

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Question 121

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Records regarding compliance with Regulation M must be kept for how long?

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Question 122

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Which of the following statements is true regarding the lessee's ability to purchase the leased property?

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Question 123

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With regard to standards for wear and use of leased property, which of the following statements is true?

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Question 124

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In evaluating the coverage of a bank's Regulation U compliance for loans to purchase or carry margin stocks, which of the following securities is NOT covered in the regulatory definition of 'margin stock'?

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Question 125

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For purposes of insider lending laws and regulations, what is the definition of the term executive officer?

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Question 126

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When may a bank pay an overdraft of $5,000 created by an executive officer of the bank?

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Question 127

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How may a bank limit the definition of executive officer?

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Question 128

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First National Bank has an employee benefit program whereby all bank employees who meet the bank's credit underwriting standards may obtain consumer loans for major purchases or expenses at a rate that is less than the bank's prime rate. Can the bank allow its executive officers to borrow under this program?

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Question 129

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Which of the following is true regarding extensions of credit to executive officers, directors, and principal shareholders?

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Question 130

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What is the longest time after board approval that a bank can approve a line of credit for an executive officer?

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