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Free CRCM Exam Braindumps (page: 96)

Page 96 of 344
PDF with 463 Questions

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?

  1. No. Executive officers may not have preferential interest rates under any circumstances.
  2. No. However, the related interests of the executive officers may take advantage of it.
  3. Yes. However, executive officers must secure their loans with collateral valued at 100 percent of the loan balance or more.
  4. Yes. Provided the program is available to everyone at the bank as an employee benefit, executive officers may also participate.

Answer(s): D



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?

  1. No. Executive officers may not have preferential interest rates under any circumstances.
  2. No. However, the related interests of the executive officers may take advantage of it.
  3. Yes. However, executive officers must secure their loans with collateral valued at 100 percent of the loan balance or more.
  4. Yes. Provided the program is available to everyone at the bank as an employee benefit, executive officers may also participate.

Answer(s): D



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?

  1. No. Executive officers may not have preferential interest rates under any circumstances.
  2. No. However, the related interests of the executive officers may take advantage of it.
  3. Yes. However, executive officers must secure their loans with collateral valued at 100 percent of the loan balance or more.
  4. Yes. Provided the program is available to everyone at the bank as an employee benefit, executive officers may also participate.

Answer(s): D



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

  1. Must be approved in advance by the board of directors if the aggregate credit is more than the greater of either $25,000 or 5 percent of the bank's capital and surplus, not exceeding $500,000
  2. Must be approved in advance by the board of directors if the credit is greater than $50,000 or 5 percent of the bank's capital and surplus
  3. May not exceed $100,000 in the aggregate, regardless of approvals
  4. May not exceed $250,000 in the aggregate, regardless of approvals

Answer(s): A



Page 96 of 344



Post your Comments and Discuss Banking CRCM exam with other Community members:

LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
upvote

LeAnne Hair commented on August 24, 2023
I think question 204 has an incorrect solution. It should be D-Regulation E
UNITED STATES
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Igor commented on April 10, 2020
Guys, leave no stones unturned. Try to study every questions and anything other supplementary material you have. The exam is not easy. I just wrote mine and if it wss not for these questions I would have not have passed it.
BULGARIA
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Lori commented on July 20, 2017
I had a good result. Worth the money.
UNITED STATES
upvote

Chipps commented on July 20, 2017
Studying from this dump helped me understand the concept and what comes in the exam. But I only get about 80 to 85% of the questions not 100% as it is claimed. Well... still good enough to pass.
UNITED STATES
upvote