Which of the Following Is True with Regard to the Federal

question 33

Multiple Choice

Which of the following is true with regard to the federal Electronic Funds Transfer Act?

• A) It is primarily a regulatory statute.
• B) It gives the same protections to customers that are found in Article 4.
• C) It limits a customer's liability for unauthorized transfers to $50 if the consumer notifies the financial institution within two days after learning of the loss or theft.
• D) All of these.

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Definitions:

Gold Mine

A site or mine from which gold is extracted; metaphorically, a source of wealth or a valuable resource.

Office Building

A structure designed primarily for the purpose of housing offices and businesses, providing a workspace for employees and services for clients.

Assembly Line

A production process that breaks down the manufacture of a good into steps that are completed in a pre-defined sequence, often on a conveyor belt, to increase efficiency.

Opportunity Cost

The neglect of possible enhancements from other avenues when one direction is pursued.