Implemented by _______________, EFTA Is Intended to Provide Certain Rights

question 27

Multiple Choice

Implemented by _______________, EFTA is intended to provide certain rights to individual consumers using EFT payment systems. It also places responsibilities on financial institutions whose accounts are affected by EFTs.

• A) Regulation E (Electronic Fund Transfers)
• B) Regulation F (Electronic Fund Transfers)
• C) Regulation T (Electronic Fund Transfers)
• D) Regulation A (Electronic Fund Transfers)

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Definitions:

Highly Liquid

An asset or investment that can be quickly converted into cash without much loss in value, ensuring easy accessibility of funds.

Certificates of Deposit

Time deposit financial products provided by banks that offer a fixed interest rate in exchange for keeping a deposit untouched for a predetermined period.

Petty Cash

A small amount of cash on hand used for covering minor expenses, managed through a petty cash fund.

Money Orders

A financial instrument, purchased for a specific amount of money, that is used for making payments from one party to another.