A Recent Compliance Review Revealed That Several Branch Officers Are

question 303

Multiple Choice

A recent compliance review revealed that several branch officers are using obsolete loan application forms, which do not include disclosures related to credit insurance sales. Which of the following steps should be taken FIRST?

• A) Determine which customers were affected and take corrective action.
• B) Contact the bank's primary regulator to determine the best course of action.
• C) Instruct the branch to destroy all obsolete forms and immediately begin using the current versions.
• D) Determine whether the branches use a separate document for required credit insurance sales disclosure.

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Definitions:

Brain Structure

The physical organization and composition of the brain, including its various parts and connections.

Association

A connection or link between thoughts, ideas, or objects, often formed through experience or learning.

Causation

The relationship between cause and effect, where one event (the cause) leads to the occurrence of another event (the effect).

Mental Health Problems

Disorders that can affect your mood, thinking, and behavior, leading to distress or impairment in social, occupational, or other important activities.