Question

Which of the following laws and regulations do trust examiners typically not assess compliance with __________.

1) Regulation C
2) Regulation H
3) ERISA
4) State tax code

Answer 1

Trust examiners usually assess a range of regulations, but ERISA is not typically within their assessment scope, as it is overseen by the Department of Labor.

Step-by-step explanation:

Trust Examiner's Scope of Compliance Assessment

Trust examiners typically assess compliance with various regulations that apply to financial institutions and trust activities. However, there is one item in the list provided that trust examiners do not usually assess compliance with:

1. Regulation C
2. Regulation H
3. Employee Retirement Income Security Act (ERISA)
4. State tax code

The correct answer is ERISA, which stands for the Employee Retirement Income Security Act. This federal law sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans. Trust examiners are generally concerned with the fiduciary activities and compliance with trust-related regulations and typically do not oversee compliance with ERISA, which is under the jurisdiction of the Department of Labor.