Has anyone seen a definition for "standardized instruments" as it relates to pre-purchase analysis?

Not really, but a standardized instrument is akin to "relatively simple" - so IMHO that would be something like a straight bond rather than some product involving derivatives, for example.

Thanks. That's the way I look at it. However, the examiners wanted to see a pre-purchase analysis on corp. bonds and munis which we agreed to. But now the investment officer is trying to back out by saying they are standardized instruments and we don't need one.