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Free CRCM Exam Braindumps (page: 48)

Page 47 of 344
PDF with 463 Questions

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:

  1. 10 percent of the bank's capital, and unimpaired surplus or $500,000, whichever is less; no disclosure is required if the aggregate credit was $30,000 or less. Disclosure of individual loan amounts is not required
  2. 5 percent of the bank's capital, and unimpaired surplus or $500,000, whichever is less; no disclosure is required if the aggregate credit was $25,000 or less. Disclosure of individual loan amounts is not required
  3. 6 percent of the bank's capital, and unimpaired surplus or $100,000, whichever is less; no disclosure is required if the aggregate credit was $25,000 or less. Disclosure of individual loan amounts is not required
  4. 5 percent of the bank's capital, and unimpaired surplus or $100,000, whichever is less; no disclosure is required if the aggregate credit was $35,000 or less. Disclosure of individual loan amounts is not required

Answer(s): B



Record keeping requirements-12 CFR 215.8 elaborates that:

  1. Each bank must establish a recordkeeping system to keep records necessary for compliance with Regulation O
  2. Banks may use any alternative recordkeeping method for insiders of affiliates if the bank's regulatory agency determines the bank's method is at least as effective as that required by Regulation O
  3. All recordkeeping systems must
    Include either an annual survey of insiders to identify related interests, or a requirement as part of each extension of credit that the borrower indicates whether he or she is an insider.
    Provide for the maintenance of records of all credit to insiders, including the amounts and terms
  4. All of these

Answer(s): D



Record keeping requirements-12 CFR 215.8 elaborates that:

  1. Each bank must establish a recordkeeping system to keep records necessary for compliance with Regulation O
  2. Banks may use any alternative recordkeeping method for insiders of affiliates if the bank's regulatory agency determines the bank's method is at least as effective as that required by Regulation O
  3. All recordkeeping systems must
    Include either an annual survey of insiders to identify related interests, or a requirement as part of each extension of credit that the borrower indicates whether he or she is an insider.
    Provide for the maintenance of records of all credit to insiders, including the amounts and terms
  4. All of these

Answer(s): D



Record keeping requirements-12 CFR 215.8 elaborates that:

  1. Each bank must establish a recordkeeping system to keep records necessary for compliance with Regulation O
  2. Banks may use any alternative recordkeeping method for insiders of affiliates if the bank's regulatory agency determines the bank's method is at least as effective as that required by Regulation O
  3. All recordkeeping systems must
    Include either an annual survey of insiders to identify related interests, or a requirement as part of each extension of credit that the borrower indicates whether he or she is an insider.
    Provide for the maintenance of records of all credit to insiders, including the amounts and terms
  4. All of these

Answer(s): D






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