Which of the Following Are Listed as a Common Fraud

question 55

Multiple Choice

Which of the following are listed as a common fraud prevention measures?

• A) Using positive pay services
• B) Separating check-issuance duties (approval, signing and reconciliation)
• C) Increasing the use of electronic payment methods
• D) Using safety measures on checks such as microprinting and watermarks
• E) all of the above are listed as common fraud prevention measures

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Definitions:

Valued Policy

A type of insurance policy that pays out a predetermined amount in the event of a total loss.

Open Policy

An insurance policy that provides coverage for all shipments or transfers under certain conditions over a specific period of time without the need for individual certificates.

Fair Market Value

The price that a property would sell for on the open market, where both buyer and seller have reasonable knowledge of all pertinent facts.

Increase Of Hazards Clause

A provision in insurance policies that allows the insurer to deny coverage if the insured significantly increases the risk or hazard insured against.