Sweep Accounts

question 3

Multiple Choice

Sweep accounts

• A)have made reserve requirements nonbinding for many banks.
• B)sweep funds out of deposit accounts into long-term securities.
• C)enable banks to avoid paying interest to corporate customers.
• D)reduce banks' assets.

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Definitions:

Assumption Of Risk

A defense against negligence that can be used when the plaintiff was aware of a danger and voluntarily assumed the risk of injury from that danger.

Strictly Liable

The legal responsibility for damages, or loss, regardless of the actor's fault or intention.

Product Liability

is the legal responsibility of manufacturers and sellers to compensate for harm caused by defective or unsafe products.

Composition

The act of arranging or putting together elements to form a whole, often referring to writing, music, or art.