FedWire Is a Retail EFT System Used for Telephone Wire

question 162

True/False

FedWire is a retail EFT system used for telephone wire transfers and payments.

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Definitions:

Officers

Executive members of an organization responsible for managing its day-to-day operations and making significant business decisions.

Due Care

The level of judgment, caution, and attentiveness expected of a reasonable person.

Negligence

Failure to take reasonable care to avoid causing injury or loss to another person, resulting in legal liability for the resulting harm.

Directors

Individuals elected by shareholders to oversee the management of a corporation and make major decisions.