Which Statement Is Correct Regarding Entities Considered Banks Under the UCC

question 72

Multiple Choice

Which statement is correct regarding entities considered banks under the UCC?

• A) Savings and loans and trust companies are considered banks, but credit unions are not.
• B) Savings and loans and credit unions are considered banks, but trust companies are not.
• C) Trust companies and credit unions are considered banks, but savings and loans are not.
• D) Savings and loans, credit unions, and trust companies are all considered banks.
• E) Only an entity holding itself out as a "bank" is considered a bank under the UCC, and therefore neither savings and loans, credit unions, nor trust companies are considered banks.

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Definitions:

Collective Guilt

The emotional response or remorse felt by members of a group for harm or wrongdoings committed by the group as a whole or its members.

Collective Guilt

the emotional experience felt when individuals perceive their group or society at large as responsible for wrongful actions.

Prosocial Concerns

Considerations aimed at promoting the welfare of others, demonstrating behaviors that benefit social groups and relationships.

Agreeableness

A characteristic of personality marked by qualities like reliability, selflessness, gentleness, warmth, and various other behaviors beneficial to society.