An Oral Stop Payment Order Is Binding on the Bank

question 17

Multiple Choice

An oral stop payment order is binding on the bank for __________ days unless confirmed in writing within that time.

• A) five (5)
• B) seven (7)
• C) fourteen (14)
• D) thirty (30)

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Definitions:

Expected Inflation

The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling, as anticipated by consumers.

Exchange Rate

The rate at which one currency can be exchanged for another currency.

Canadian Dollar

The official currency of Canada, abbreviated as CAD.

Samurai Bond

A Japanese yen-denominated bond issued in Japan by a non-Japanese entity.