Under Unauthorized Transfers-12 CFR 205

question 373

Multiple Choice

Under Unauthorized transfers-12 CFR 205.6 prerequisites for consumer liability are all of the following EXCEPT:

• A) If an access device was used, it must have been an accepted access device
• B) Institution must have provided a means of identifying the consumer to whom the device was issued (for example, by electronic means (PIN), photograph, or fingerprint)
• C) Increased liability for the consumer
• D) Institution must have provided the following in writing to the consumer • A summary of consumer's liability for unauthorized transfers • Telephone number and address of person or office to be notified • in case of unauthorized transfer • Institution's business days

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Definitions:

Emotional Conflicts

Situations where conflicting emotions lead to difficulty in choosing a course of action or create interpersonal issues.

Physical Symptoms

The tangible or observable manifestations of a medical condition, illness, or injury that affect the body.

Due Process Nonaction

A procedure set up to address conflicts that is so costly, time-consuming, or personally risky that no one will use it.

Delaying Action

A tactic or strategy aimed at postponing something or slowing down an opposing force, often to gain more time for preparation or decision-making.