A Check Drawn by a Credit Union on Its Account

question 57

Multiple Choice

A check drawn by a credit union on its account at a federally insured bank would be an example of a:

• A)cashier's check.
• B)teller's check.
• C)counter check.
• D)traveler's check.

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Definitions:

SEC

Securities and Exchange Commission, a U.S. federal agency responsible for enforcing federal securities laws and regulating the securities industry, stock and options exchanges.

Securities Exchange Act Of 1934

The Securities ExchangeAct of 1934 was created to govern securities transactions on thesecondary market, after issue, ensuring greater financial transparency and accuracy and less fraud or manipulation. This actauthorized the formation of the Securities Exchange Commission (SEC), the regulatory arm of the Securities Exchange Act(SEA). The SEC has the power to oversee securities, such asstocks, bonds and over-the-counter securities, markets, and the The Securities ExchangeAct of 1934 was created to govern securities transactions on thesecondary market, after issue, ensuring greater financial transparency and accuracy and less fraud or manipulation. This actauthorized the formation of the Securities Exchange Commission (SEC), the regulatory arm of the Securities Exchange Act(SEA). The SEC has the power to oversee securities, such asstocks, bonds and over-the-counter securities, markets, and the conduct of financial professionals including brokers, dealers,and investment advisors, and monitor the financial reports thatpublicly traded companies are required to disclose

Judicial Branch

The branch of government responsible for interpreting the law and administering justice through courts.

SEC

U.S. Securities and Exchange Commission; a federal agency responsible for enforcing federal securities laws and regulating the securities industry, stock and options exchanges.