Two tellers of a Tenth National Bank branch colluded to embezzle $40,000 over a six-month period. State bank examiners detected the embezzlement during a routine bank examination. Tenth National purchased a financial institution bond
Under which of the following insuring agreements is this loss covered?
A) Insuring Agreement A—Fidelity
B) Insuring Agreement B—On Premises
C) Insuring Agreement C—In Transit
D) Insuring Agreement D—Forgery or Alteration
Answer: A
You might also like to view...
A company must make every effort to comply with legal requirements including labor law, tax regulations, environmental law, and criminal law. This statement reflects which level of corporate social responsibility?
A. economic B. legal C. ethical D. discretionary
Future opportunities and threats are considered in the forecasting section of a marketing plan
Indicate whether the statement is true or false
A conditional guarantor of collection differs from an absolute surety in that the surety is bound with the principal debtor as a primary obligor
Indicate whether the statement is true or false
Bruce Lee owns stocks, bonds, real estate, gold coins, T-Bills, and gemstones. He has a(n)
A) equity portfolio. B) default-proof portfolio. C) inflation-proof portfolio. D) diverse portfolio. E) risk adverse portfolio.