Jared Is a Loan Officer at a Bank Whose Responsibilities

question 29

Multiple Choice

Jared is a loan officer at a bank whose responsibilities include taking applications from prospective borrowers.Jared also makes an initial recommendation regarding each loan, although final approval requires the authorization of both a branch manager and a loan specialist at the bank's corporate headquarters.Within the context of a loan transaction, which of the following best pairs a risk with an internal control that will address the risk?

• A)Approving a loan for a friend who does not meet the criteria, limit checks
• B)Including false or misleading information on the loan application, preformatted data entry screen
• C)Submitting an incomplete loan application, preformatted data entry screen
• D)Submitting an incomplete loan application, limit checks

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Definitions:

Biological Clocks

Biological clocks are internal mechanisms in organisms that regulate cycles of activity and rest, including sleep-wake cycles and hormonal changes, in accordance with environmental changes.

Environmental Cues

Signals from the environment that can affect the behavior and physiology of organisms.

Biological Rhythms

Innate, cyclical patterns in biological processes and behaviors observed in living organisms, including circadian rhythms and seasonal cycles.

Peripheral Nervous System

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord.