It Is Not Required for Accounts Where the Only EFT

question 264

Multiple Choice

It is not required for accounts where the only EFT allowed is a preauthorized transfer to an account. If the account is a passbook account, the bank updates the passbook on presentation; if not, the bank it at least quarterly.

• A) A periodic statement
• B) Change in terms notice
• C) Unauthorized transfers
• D) Error resolution notice

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Definitions:

Hijackers

Individuals who unlawfully seize control of a vehicle, such as a plane or ship, often to reach a particular goal or demand.

Hydrocarbon Combustions

The chemical process in which hydrocarbons react with oxygen to produce carbon dioxide, water, and heat.

Nitroglycerin Explosions

The sudden and violent release of energy due to the rapid decomposition of nitroglycerin, a highly explosive chemical compound used in dynamites and propellants.

Activation Energy

The minimum amount of energy that must be provided to compounds to result in a chemical reaction.