Question: These statements are True or False? Please explain shortly: 3. The process of loan review means that a loan committee must generally approve a loan

These statements are True or False? Please explain shortly:

3. The process of loan review means that a loan committee must generally approve a loan before the borrower is told the loan is approved

4.If the economy slows down a bank should review its outstanding loans more frequently

5. Confirmative covenants in loan contract require the borrower to take certain actions

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