During a EFT, If the Institution Determines That No Error

question 182

Multiple Choice

During a EFT, if the institution determines that no error has occurred or that an error occurred in a manner or amount different than the alleged error, it:

• A) Must notify the consumer in writing of the date and amount of the debit to account and the fact that the institution will continue to honor checks and preauthorized transfers payable to third parties for seven business days
• B) Must promptly provide on request copies of documentation on which institution relied on to determined that no error occurred
• C) Must pay only items that the institution would have paid if the provisionally credited funds had not been debited
• D) Any of these

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Definitions:

Atomic Number

The number of protons found in the nucleus of an atom, which determines the chemical properties of an element and its place in the periodic table.

Participants

Individuals or entities actively involved in a process, activity, or event.

Statistical Generalization

The process of inferring general trends or conclusions from a sample.

Statistical Property

A characteristic or attribute that can be defined or measured statistically, such as mean or variance.