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NEW QUESTION: 1
A compliance officer receives a call from a loan officer who asks for advice on what she should do with a stock certificate (1,437 shares of IBM) from a new loan customer who wants to pledge it in support of a loan that has been approved at your bank. What should the compliance officer tell her FIRST?
A. Record the certificate information and give the original back to the customer
B. Contact the SIC to determine if the certificate was reported as lost, counterfeit, or stolen
C. Retain the original certificate in the branch vault for the term of the loan
D. Retain a copy of the certificate in the loan file
Answer: B


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