Which of the following statements is true of wire transfers?
A. The Federal Reserve operates a domestic wire transfer system that can be made through New York Clearinghouse Payments System (CHIPS).
B. Electronic funds transfers between business and financial institutions are generally referred to as wholesale wire transfers.
C. Article 4A of the UCC, which covers wire transfers, includes consumer payments that are covered by the Electronic Funds Transfer Act (EFTA).
D. International wire transfer systems are known as "Fedwire."
Answer: B
You might also like to view...
Answer the following statements true (T) or false (F)
In a defined contribution plan, benefits are defined either as a specific dollar amount or by a general formula based on salary.
The Supreme Court has held that the content of offensive speech may not be forbidden but that it may be restricted by the government
Indicate whether the statement is true or false
Last month, Springfield Power Co announced that shareholders of record on this coming Friday will receive a dividend of $2.75 per share. (Assume that the dividend will also be paid on Friday)
After this Friday, the next dividend is expected in one year's time. Dividends are expected to be paid annually in perpetuity and are expected to grow at a rate of 5%. Shareholders of Springfield Power Co require a 12.5% return on equity. What is the stock price of Springfield Power on Tuesday? (Preceding the Friday Day of Record.) A) $32.00 B) $37.66 C) $41.25 D) $43.91 E) $46.25
In which case is there no insurable interest?
A) Barbie's 25% ownership in an oil well B) A dry cleaner in its customers' clothes C) A bank (creditor) in property used to secure a loan D) A school principal in the lives of the students attending his school