The Situation in Which an Individual Impersonates the Holder of a Savings

question 21

Multiple Choice

The situation in which an individual impersonates the holder of a savings account and, by presenting a forged withdrawal slip to the savings bank, receives from the bank a check payable to the bank's customer, is covered by the:

• A) impostor rule.
• B) negotiation rule.
• C) assignment rule.
• D) bank rule.

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Definitions:

Restrictive Policy

A policy designed to limit or restrict certain actions, often used to control spending or investments.

Cash-Out Situation

A scenario where an individual withdraws funds from an investment or refinances a property to access the equity built up, often resulting in immediate liquid cash.

Restrictive Policy

A policy that limits or restricts certain actions, typically implemented to control financial practices or prevent excessive risk-taking.

Inventory

The total amount of goods and materials held by a company intended for sale or used in the production of goods sold.