FDIC Guidance Lists Three Requirements to Ensure Compliance with Spousal

question 218

Multiple Choice

FDIC guidance lists three requirements to ensure compliance with spousal signature rules include all of the following EXCEPT:

• A) Review and revise policies Eliminate policies or procedures that are inconsistent with the requirements Expand loan policies and procedures to provide loan staff with specific guidance on state law(s) regarding requiring signatures Cover the laws of all states where the creditor institution does business Create checklists to address situations when spousal signatures can be required
• B) Provide training to consumer and commercial loan staff
• C) Implement monitoring and auditing programs to check for spousal signature violations
• D) Must allow an applicant to designate a birth-given first name and a birth-given, surname, spouse's surname, or combination

---

Definitions:

Income Statement

A financial statement that shows a company's revenues, expenses, and profits over a period of time.

Absorption Costing

An approach to pricing that involves including every manufacturing expense - like direct materials, direct labor, as well as fixed and variable overheads - in calculating the cost of a product.

Income Statement

A financial statement that reports a company’s financial performance over a specific accounting period.

Manufacturing Margin

The difference between the cost of goods produced and the sales revenue from those goods, indicating the profitability of manufacturing activities.