One of the Check Collection Requirements Is Sending Items to Reserve

question 66

Multiple Choice

One of the check collection requirements is sending items to Reserve Banks. In this requirement:

• A) A sender other than a Reserve Bank may send any item to the Reserve Bank with which it maintains an account
• B) The following parties are deemed to have handled items, in this order: • The initial sender • The initial sender's administrative Reserve Bank • The Reserve Bank that receives the item from the initial sender • Any other Reserve Bank that receives the item from a Reserve Bank
• C) Reserve Banks must receive cash items and other items (checks) at par
• D) A foreign bank that maintains reserves under the International Banking Act of 1978

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Definitions:

Sexually Transmitted Diseases

Infectious diseases primarily spread through sexual contact.

Symptoms

Signs or indicators that something is wrong with an organism, often related to disease or malfunction.

Bulbourethral Glands

Small glands located near the base of the penis in male mammals that produce a pre-ejaculate fluid to lubricate the urethra.

Prostaglandins

are lipid compounds that perform a variety of hormone-like actions in animals, including inflammation regulation and smooth muscle contraction.