UCE OCC Exam (Deck 3) Questions & Answers 2024/2025

UCE OCC Exam (Deck 3) Questions & Answers 2024/2025 Is it required for every bank to have a written policy regarding insider transactions - ANSWERSyes What law governs loans to executive officers for banks - ANSWERS12 USC 375a What law governs extensions of credit to executive officers, directors, and principal shareholders - ANSWERS12 USC 375b What is the main regulation governs insiders (reg o) - ANSWERS12 CFR 215 What regulation does the OCC have that governs extensions of credit to insiders and transactions with affiliates - ANSWERS12 CFR 31 How is insider defined per regulation o - ANSWERSIt is an executive officer, director, principal shareholder including related interests of such person For regulation O purposes how is related interest defined - ANSWERSA company that is controlled by that person or a political campaign committee that is controlled by that person or the funds of services of which will benefit that person how is affiliate defined for regulation o purposes - ANSWERSmeans any company of which a member bank is a subsidiary or any subsidiary of that company how is subsidiary defined for regulation o purposes - ANSWERSany company who owns 25% or more of voting shares, any company the election of a majority of whose directors is controlled in any manner by such company, and/or any company with respect to the management of policies of which such bank holding company has the power, directly or indirectly, to exercise a controlling influence, as determined by the board, after notice and opportunity of a hearing