Certified Regulatory Compliance Manager (CRCM) — Question 117

For purposes of insider lending laws and regulations, what is the definition of the term executive officer?

Answer options

• A. All bank officers at or above the level of executive vice president
• B. Anyone who has the authority to participate in major policymaking functions at the bank NOTES
• C. Anyone who has the authority to participate in lending decisions at the bank
• D. All bank officers at or above the level of assistant vice president

Correct answer: B

Explanation

The correct answer is B because it accurately reflects the definition of an executive officer as someone involved in significant policymaking at the bank. Options A and D specify ranks that do not encompass all individuals with policymaking authority, while option C is too narrow, as it focuses solely on lending decisions without considering broader policymaking functions.