On which of the following loans must a bank maintain records under the Bank Secrecy Act?
A. All loans exceeding $5,000 and secured by real property
B. All loans exceeding $10,000, but not secured by real property
C. All loans exceeding $5,000, but not secured by real property
D. All loans exceeding $10,000 and secured by real property
Answer:B
On which of the following loans must a bank maintain records under the Bank Secrecy Act?
A. All loans exceeding $5,000 and secured by real property B. All loans exceeding $10,000, but not secured by real property C. All loans exceeding $5,000, but not secured by real property D. All loans exceeding $10,000 and secured by real property