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To Be a Holder in Due Course,one Must Possess Bearer

question 35

True/False

To be a holder in due course,one must possess bearer paper. No endorsement is necessary.


Definitions:

FICA-Medicare

A portion of the Federal Insurance Contributions Act tax that funds Medicare, a federal health insurance program for people who are 65 or older and certain younger people with disabilities.

Net Pay

The amount of money an employee receives after deductions such as taxes and retirement contributions are subtracted from the gross pay.

FICA-OASDI

The Federal Insurance Contributions Act - Old Age, Survivors, and Disability Insurance, a payroll tax funding Social Security and Medicare in the U.S.

FICA-Medicare

The portion of the Federal Insurance Contributions Act tax that is designated to fund Medicare, the health insurance program for the elderly and certain disabled individuals.

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