Assuming the Bank Is Not Negligent,in the Case of Multiple

question 42

Multiple Choice

Assuming the bank is not negligent,in the case of multiple forgeries by the same wrongdoer,what is the effect of a customer's failure to notify the bank of the first forgery in regard to subsequent forgeries?

• A)The customer may recover on a subsequent forgery if it is reported to the bank within 15 days after the statement showing the subsequent forgery is received by the customer.
• B)There is no effect because each forgery stands on its own.
• C)The customer is barred from recovering on the subsequent forgeries.
• D)The customer may recover on a subsequent forgery if it is reported to the bank within 10 days after the statement showing the subsequent forgery is received by the customer.
• E)The customer may recover on a subsequent forgery if it is reported to the bank within 5 days after the statement showing the subsequent forgery is received by the customer.

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Definitions:

Population Standard Deviation

A measure of the dispersion or variability within a full population data set.

Raw Scores

The original, unmodified scores obtained in any assessment without adjustments or transformations.

Normally Distributed

Describes a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Normally Distributed

Describes a distribution of data that follows a bell-shaped curve, where most of the data points are close to the mean.