Certified Regulatory Compliance Manager (CRCM) — Question 260

Which of the following factors would NOT be considered when evaluating whether specific behavior by a banker violates the statute?

Answer options

• A. The social and family ties of the banker
• B. The standard for business amenities and entertaining in that particular part of the country
• C. Whether there was a demonstrable business purpose
• D. Whether a business transaction was consummated as a result

Correct answer: D

Explanation

The correct answer is D because the completion of a business transaction is not necessary to determine if a banker has violated the statute. The other options, A, B, and C, all relate to the context and justification of the banker's behavior, which are relevant factors in evaluating compliance with the statute.