Which of the Following Statements Is True of an Oral

question 29

Multiple Choice

Which of the following statements is true of an oral stop-payment order given by the customer?

• A) It is not valid for more than 24 hours.
• B) It is valid for only 14 days unless the customer confirms it in writing during that time.
• C) It is invalid.
• D) It is valid for six months and can be extended for another six months by giving the bank instructions to continue.

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Definitions:

Research Paper

An academic or scholarly document presenting original research on a specific topic, backed up by the analysis and interpretation of data.

Social Engineering

A method of manipulation that exploits human psychology to gain confidential information or access to systems.

Phishing

A fraudulent attempt, typically via email, aiming to steal personal information by pretending to be a legitimate entity.

Credit Card

A plastic card issued by a bank or financial institution that allows the holder to borrow funds, within a pre-approved limit, to pay for goods and services with the promise to repay the borrowed amount, along with any agreed charges.