On Which of the Following Loans Must a Bank Maintain

question 410

Multiple Choice

On which of the following loans must a bank maintain records under the Bank Secrecy Act?

• A) All loans exceeding $5,000 and secured by real property
• B) All loans exceeding $5,000, but not secured by real property
• C) All loans exceeding $10,000 and secured by real property
• D) All loans exceeding $10,000, but not secured by real property

---

Definitions:

Expenses

Outflows or using up of assets as part of operations of a business to generate revenue.

Contribution Margin

The difference between sales revenue and variable costs of a product or service, indicating how much revenue contributes toward covering fixed costs and generating profit.

Sales

The total revenue generated from selling goods or services over a specific period of time.

Products

Items or goods that have been produced for sale or consumer use.