An Association of Banks and Other Payors Whose Members Settle

question 26

Multiple Choice

An association of banks and other payors whose members settle accounts with each other on a daily basis is a:

• A) payor banking group.
• B) clearinghouse.
• C) provisional reserve.
• D) None of these.

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Definitions:

Cooperative Reactions

Actions undertaken by individuals or groups that are designed to work together in a mutually beneficial manner.

Ingroup-Outgroup Bias

The tendency to favor members of one's own group (ingroup) over those from different groups (outgroup).

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by prejudice towards other groups.

Superordinate Goals

Objectives that require the cooperation of two or more parties with typically conflicting interests, thus promoting collaboration between them.