As a ʺCentral Bank,ʺ Which of the Following Is True

question 237

Multiple Choice

As a ʺcentral bank,ʺ which of the following is true regarding the Fed?
I. The Fed is a public authority that regulates the nationʹs banks.
II. The Fed is not allowed to provide services to commercial banks like Citibank.
III. The Fed is required to provide banking services to private citizens.

• A) I
• B) I and III
• C) I and II
• D) II

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Definitions:

Transferor's Warranties

Guarantees made by a seller (transferor) to a buyer about the condition, legality, and ownership status of the goods or property being sold.

Presenter's Warranties

Guarantees made by the presenter of a negotiable instrument, such as a check, regarding its legitimacy and their authority to present it.

Implied Warranties

Legal guarantees assumed in a transaction, suggesting that a product will meet certain standards even if not explicitly stated.

Discharged From Liability

A situation or legal process wherein an individual or entity is released from a responsibility, duty, or debt, absolving them from further obligations.