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Question 286 - CRCM discussion

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ACME national bank plans to acquire Smith Brothers insurance agency and make it an operating subsidiary of the bank. ACME is considered a well managed and adequately capitalized bank. What regulatory-related action must ACME take to obtain the agency?

A.
Complete the sale of the agency and notify the OCC within 10 days
Answers
A.
Complete the sale of the agency and notify the OCC within 10 days
B.
Complete the sale of the agency and notify the OCC within 30 days
Answers
B.
Complete the sale of the agency and notify the OCC within 30 days
C.
No regulatory notice is required
Answers
C.
No regulatory notice is required
D.
Notify the OCC before completing the sale
Answers
D.
Notify the OCC before completing the sale
Suggested answer: D
asked 16/09/2024
Jay Chua
40 questions
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