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Author Question: Tenth National Bank extended a 2 million loan to ABC Development Company. Tenth National accepted a ... (Read 65 times)

danielfitts88

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on: Jul 11, 2018
Tenth National Bank extended a 2 million loan to ABC Development Company. Tenth National accepted a mortgage on a building as collateral for the loan. The mortgagee's signature on the loan, however, was a forgery.
 
  The resulting loss is covered by which financial institution bond coverage?
  A) Insuring Agreement A Fidelity
  B) Insuring Agreement DForgery or Alteration
  C) Insuring Agreement ESecurities
  D) Insuring Agreement GFraudulent Mortgages

Question 2

Carl Lee lost his wallet at the beach five days ago. Carl is sure there were three credit cards in the lost wallet. Assuming he's right and notifies the banks, Carl can lose as much as ________, assuming he has no private insurance protection.
 
  A)
 
   150
  B)
 
  500
  C)
 
  650
  D)
 
  unlimited losses


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macybarnes

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: D

Answer to Question 2

C


danielfitts88

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Reply 2 on: Jul 11, 2018
Thanks for the timely response, appreciate it

komodo7

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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