It Is an Extension of Credit Will Be Deemed to Be

question 351

Multiple Choice

It is an extension of credit will be deemed to be made to an insider if the proceeds are transferred to the insider or used for the insider's benefit. This rule does not apply if the credit is made on substantially the same terms and conditions as those made to a noninsider and if the proceeds are used in a bona fide transaction involving the acquisition of property, goods, or services from the insider. What is it?

• A) Tangible economic benefit rule012 CFR 215.3(f)
• B) Extension of credit-12 CFR 215.3
• C) Lending restrictions
• D) Intangible economic-benefit rule

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Definitions:

Magical Thinking

The belief that one's thoughts, words, or actions can influence or bring about events in the physical world in a way that defies the known laws of nature.

Thought Insertion

A psychological phenomenon in which an individual believes thoughts that are not their own have been inserted into their mind.

Strong Final Remarks

The concluding statements in a communication or document that leave a powerful impression on the recipient.