The maximum amount of credit that a bank may extend to all of its insiders is known as the ______________and is equal to 100 percent of its unimpaired capital and surplus.
Answer : A
On a written request from a member of the public, the bank must disclose the names of each of its executive officers and principal shareholders to whom the bank had aggregate credit outstanding at the end of the latest quarter that equaled or exceeded:
Answer : B
Record keeping requirements-12 CFR 215.8 elaborates that:
Answer : D
Debt Cancellation Contracts and Debt Suspension Agreements coverage includes:
Answer : A
This is a loan term or an arrangement that modifies a loan term under which a bank agrees to cancel all or part of a customer"™s loan obligation on the occurrence of a specified event. It may be included as a part of the loan documents, or it may be a separate agreement. What is it?
Answer : C
Short-form disclosures are required in advertisements and promotional materials unless the advertisements and promotional materials are of:
Answer : A
This is a loan term or an arrangement that modifies a loan term under which a bank agrees to suspend all or part of a customer"™s loan obligation on the occurrence of a specified event. It May be a part of the loan itself or a separate agreement. Does not include a loan payment deferral arrangement where the borrower or the bank can unilaterally defer a payment. What is it?
Answer : A
Under content of disclosures long term disclosures may include the following, as applicable EXCLUDING:
Answer : D
Banks must establish and maintain effective risk management and control processes over its DCCs and DSAs, including:
Answer : ABC
The Equal Credit Opportunity Act (ECOA) was enacted in 1974 to prevent discrimination in credit transactions. In 1975 the act was amended. Which of the following prohibited base/s are now included in it?
Answer : D
Securities credit covers credit subject to Section 7 of the Securities Exchange Act of 1934 or credit by a broker or dealer subject to regulation under the act. The following requirements of Regulation B do not apply EXCEPT:
Answer : B
Government credit -
Answer : AD
An oral or written request for credit made in accordance with the creditor"™s procedures for the type of credit requested. Information entered into and retained by a computer system qualifies as a written application. It is called:
Answer : A
Definition of completed application""12 CFR 202.2(f) is:
Answer : AB
Requirements""12 CFR 202.2, 202.4, 202.5, 202.6, and 202.13 say that a creditor may not request information about an application"™s race, color, religion, national origin, or gender except as specifically permitted by ____________or another statute such as the Home Mortgage Disclosure Act.
Answer : A