An Association of Banks Created for the Purpose of Settling

question 22

Multiple Choice

An association of banks created for the purpose of settling accounts with each other on a daily basis is a:

• A) payor banking group.
• B) clearinghouse.
• C) provisional reserve.
• D) cooperative.

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Definitions:

Law-Enforcement Officers

Individuals authorized to enforce laws, preserve peace, and make arrests within a legal jurisdiction.

Mental Health Professionals

Trained experts specializing in diagnosing, treating, and preventing mental, emotional, and behavioral disorders.

Mandatory Reporters

Individuals who are legally required to report suspected cases of abuse or neglect to the authorities.

Substitute Care Providers

Substitute care providers are individuals or organizations that offer temporary care and support to children or adults in place of their primary caregivers, often within contexts like foster care, eldercare, or disability support services.