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

All bank officers at or above the level of executive vice president
Anyone who has the authority to participate in major policymaking functions at the bank NOTES
Anyone who has the authority to participate in lending decisions at the bank
All bank officers at or above the level of assistant vice president

Answer(s): B

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

All bank officers at or above the level of executive vice president
Anyone who has the authority to participate in major policymaking functions at the bank NOTES
Anyone who has the authority to participate in lending decisions at the bank
All bank officers at or above the level of assistant vice president

Answer(s): B

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

When the officer is at the level of a vice president or lower.
When the officer has previously signed an overdraft protection credit agreement in an amount sufficient to cover the overdraft.
When the officer has enough funds in another account to cover the overdraft.
When the bank pays the overdrafts for other good customers in the ordinary course of business.

Answer(s): B

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

When the officer is at the level of a vice president or lower.
When the officer has previously signed an overdraft protection credit agreement in an amount sufficient to cover the overdraft.
When the officer has enough funds in another account to cover the overdraft.
When the bank pays the overdrafts for other good customers in the ordinary course of business.

Answer(s): B

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