Certified Regulatory Compliance Manager (CRCM) — Question 70

Government credit -

Answer options

• A. It is credit extended to governments or government agencies, instrumentalities, or subdivisions
• B. It has no finance charge
• C. It has Records retention requirements
• D. Only the general rule against discrimination applies to government credit

Correct answer: A, D

Explanation

Option A is correct because government credit specifically involves loans or credit provided to governmental bodies. Option D is also correct as it mentions that the general rule against discrimination is applicable. Options B and C do not accurately describe government credit, as finance charges can apply, and record retention requirements are not exclusive to government credit.