For Banks, Check-Processing Activities

question 161

Multiple Choice

For banks, check-processing activities

• A) still represent the cheapest way to permit customers use of their funds.
• B) are expensive and time consuming.
• C) are not trustworthy and reliable.
• D) are extremely efficient and have deterred customers from using other ways to access their funds.

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Definitions:

Homeowner's Insurance

Insurance coverage that protects against damages to a person's home and possessions within the home, along with liability coverage for accidents that happen at the home or at the hands of the homeowner within the policy territory.

Interim Home Damage Coverage

Temporary insurance protection for damages to one's home, typically used until permanent insurance takes effect or repairs are completed.

Beneficiary

An individual or entity entitled to receive benefits or assets under the terms of a will, insurance policy, retirement account, trust, or other contract.

Life Insurance

Life insurance is a contract between an insurer and a policy holder designed to pay a designated beneficiary a sum of money upon the death of the insured person, offering financial protection to beneficiaries.