Certified Regulatory Compliance Manager (CRCM) — Question 56

Unless excluded by a board resolution or the bylaws, the following officers will be considered to be executive officers EXCEPT:

Answer options

• A. Chairman of the board
• B. President
• C. Each vice-president and above (for example, senior vice-president, executive vice-president, and so on)
• D. Brokerage house's vice president

Correct answer: D

Explanation

The correct answer is D, as a vice president at a brokerage house does not automatically qualify as an executive officer unless specified by the organization's governing documents. In contrast, the Chairman of the board, President, and other vice-presidents typically hold executive roles unless otherwise stated.