Unit Banking Means

question 80

Multiple Choice

Unit banking means:

• A)a bank may have only one full-service office
• B)the bank is owned by a unit trust
• C)all branch offices are controlled by a central unit
• D)none of the above

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Definitions:

Certified Check

A check verified by a bank, guaranteeing that the signer has sufficient funds in their account to cover the check's amount at the time of certification.

Stop-payment Order

A request made to a bank instructing it not to process a payment on a check or transaction that has been issued but not yet cashed.

Wrongful Payment

A payment made in error, either due to fraud, administrative error, or mistaken identity, which may require recovery.

Liable

Liable means being legally responsible or obligated to compensate for harm, damages, or loss resulting from one's actions or negligence.