Which Statement Is True Regarding the Bank Manager Saying That

question 44

Multiple Choice

Which statement is true regarding the bank manager saying that the bank could not incur any liability for damages for the failure to stop payment on a check?

• A)The manager is incorrect,and the bank will incur liability or damages suffered by a customer due to the failure to stop payment when a stop-payment order was properly provided,but only up to $1,000.
• B)The manager is correct.
• C)The manager is incorrect,and the bank will incur liability or damages suffered by a customer due to the failure to stop payment when a stop-payment order was properly provided.
• D)The manager is incorrect,and the bank will incur liability or damages suffered by a customer due to the failure to stop payment when a stop-payment order was properly provided,but only up to $500.
• E)The manager is incorrect,and the bank will incur liability or damages suffered by a customer due to the failure to stop payment when a stop-payment order was properly provided,but only up to $1,500.

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Definitions:

Stocks

Shares of ownership in a company, which represent a claim on the company's earnings and assets.

Investment

Applying resources, typically financial, in order to gain income or profit.

Portfolio

An aggregation of financial instruments such as company shares, debt securities, tangible commodities, available cash, and cash-like resources, including mutual funds and ETFs.

Perfectly Positively Correlated

A situation where two variables move in the same direction at the same rate, represented by a correlation coefficient of +1.