Record Keeping Requirements-12 CFR 215.8 Elaborates That

question 179

Multiple Choice

Record keeping requirements-12 CFR 215.8 elaborates that:

• A) Each bank must establish a recordkeeping system to keep records necessary for compliance with Regulation O
• B) 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
• C) 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
• D) All of these

---

Definitions:

Association Areas

Regions of the brain that integrate information from different sensory inputs and are involved in higher mental functions like learning, thinking, and memory.

Cerebral Cortex

The outer layer of the cerebrum in the brain, involved in high-level functions like consciousness, thought, emotion, reasoning, language, and memory.

Occipital Lobe

The region of the brain located at the back of the head, responsible for processing visual information.

Visual Perception

The ability to interpret the surrounding environment using light in the visible spectrum reflected by the objects in the environment.