Question 1

First National Bank is a wholly owned subsidiary of Bank Holding Company, Inc.Which of the following companies is NOT an affiliate of First National Bank?

Options :

A : A company that owns 60 percent of Bank Holding Company, Inc.

B : A company of which First National owns 100 percent of the stock, set up solely to hold the title to the First National Bank building

C : A company established to sell securities and that is 100 percent owned by Bank Holding Company, Inc.

D : Another bank that is owned by Bank Holding Company, Inc.

Answer: B

Question 2

What information must be on the loan application registers for home loans on property located within the bank’s metropolitan area?

Options :

A : The county, census tract, and metropolitan area of the property

B : The address, census tract, and metropolitan area of the property

C : The county, address, and fair market value of the property

D : The name, address, and metropolitan area of the applicant

Answer: A

Question 3

Which of the following is NOT a requirement when a bank pays an employee a fee for referring a

high-net-worth or institutional customer to a broker?

Options :

A :

The bank must have a written agreement with the broker

B : The bank must give a disclosure to the customer

C : The bank must reasonably believe that the customer is a high net worth or institutional customer

D : The employee must be registered with the bank’s regulatory agency

Answer: D

Question 4

When conducting a records search pursuant to a FinCEN request, what must a bank search?

Options :

A : All customer records from the previous five years

B : All accounts maintained within the previous 12 months and transaction records for 6 months

C : Only records that can be electronically searched

D : Nothing; searches are voluntary

Answer: B

Question 5

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?

Options :

A : Debt suspension agreement (DSA)

B : Anti-dying

C : Debt cancellation contract (DCC)

D : ALLL

Answer: A

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