The Electronic Fund Transfer Act Concerns Liability Limits for Stolen

question 308

Multiple Choice

The Electronic Fund Transfer Act concerns liability limits for stolen ATM cards. Which statement is correct about maximum consumer liability:

• A) $100 if the financial institution is notified within 3 business days
• B) $250 if the financial institution is notified within 3 business days
• C) $250 if the financial institution is notified within 5 business days
• D) $500 if the financial institution is notified within 7 business days
• E) none of the other choices

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Definitions:

Sarbanes-Oxley Act

A United States federal law enacted in 2002 to protect investors from the possibility of fraudulent accounting activities by corporations.

Accounting Scandals

Incidents that involve deliberate manipulation of financial statements and records for the purpose of misleading investors and stakeholders.

Values

Deeply held beliefs and ideals that guide an individual's or society's actions and judgments.

Moral Philosophies

The study of questions about morality, including the goodness or badness of actions, the nature of virtue, and the foundations of ethical principles.