Other Checkable Deposits (OCDs)

question 84

Multiple Choice

Other checkable deposits (OCDs)

• A) are accounts at financial institutions that pay interest and give the depositor check-writing privileges.
• B) do not include credit union share draft accounts.
• C) refer to demand deposits at mutual savings banks only.
• D) are not included in the M1 money supply.
• E) refer to savings deposits that earn interest at savings and loan associations.

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Definitions:

Material Terms

Critical and essential components of a contract that specify the rights and obligations of the parties involved, impacting the performance and outcome of the contract.

UCC

A comprehensive legal code, the Uniform Commercial Code, exists to oversee all commercial transactions happening in the United States.

Common Law

A body of law based on judicial decisions and precedent rather than statutory laws.

Additional Terms

Extra conditions or provisions added to an agreement or contract that were not included in the original draft.