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 D -- Forgery or Alteration
C) Insuring Agreement D -- Securities
D) Insuring Agreement G -- Fraudulent Mortgages
Correct Answer:
Verified
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