Which of the Following Governs Consumer Fund Transactions in Electronic

question 50

Multiple Choice

Which of the following governs consumer fund transactions in electronic fund transfers?

• A) The Electronic Fund Transfer Act of 1978.
• B) The Automated Transfer Act of 1990.
• C) The Electronic Banking Act of 2000.
• D) The Automated Fund Transfer Regulation of 2002.
• E) The Uniform Money Services Business Act of 1990.

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Definitions:

Representativeness Heuristic

A cognitive shortcut where the likelihood of an object belonging to a category is assessed based on how typical the object seems of the category.

Confirmation Bias

The inclination to seek out, comprehend, prioritize, and recall facts in a manner that corroborates one's established beliefs or conjectures.

Framing Effect

A cognitive bias where people decide on options based on whether the choices are presented with positive or negative connotations.

Confirmation Bias

A cognitive bias that influences individuals to favor information or interpretations that confirm their preexisting beliefs or hypotheses.