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Exam CRCM topic 1 question 57 discussion

Actual exam question from ABA's CRCM
Question #: 57
Topic #: 1
[All CRCM Questions]

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

  • 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
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Suggested Answer: D 🗳️

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Cam22
4 months ago
Selected Answer: D
In typical banking contexts, a brokerage house's vice president wouldn't automatically be considered an executive officer unless specifically designated as such by a board resolution or bylaws. However, officers such as the Chairman of the board, President, and each vice-president and above are typically considered executive officers unless explicitly excluded.
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