12 - NR275.BUS.241.35.SP11 - ( [Spring 2011] BUS 241-35:...

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NR275.BUS.241.35.SP11 - ([Spring 2011] BUS 241-35: Business Law I) Assignments ... Module 5 Practice Test Review Test Submission: Module 5 Practice Test Review Test Submission: Module 5 Practice Test User Kristen M Ritch Submitted 3/5/11 6:04 PM Name Module 5 Practice Test Status Completed Score 0 out of 100 points Time Elapsed 3 seconds out of 2 hours and Instructions Question 1 A bank that pays a customer's check with a forged drawer's signature can generally pass the loss onto the customer. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 2 Brendan signs a check "pay to the order of City College Bookstore" drawn on his account in Delta Bank to pay for his current semester's textbooks. The bookstore deposits the check in its account in Eagle Bank. Like most checks, this check is Selected Answer: [None Given] Correct Answer: a three-party instrument. 0 out of 2 points Question 3 Dora writes a check for $100 drawn on Eastern Bank and presents it to Fast Cash, Inc., for payment. If the check is not backed by sufficient funds, Dora may be prosecuted for Selected Answer: [None Given] Correct Answer: fraud. 0 out of 2 points Question 4 Currently, it is not clear which, if any, laws apply to the security of e-money payment information. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 5 Financial institutions that exchange digital images of checks do not have to exchange the original paper checks. 0 out of 2 points NR275.BUS.241.35.SP ([Spring 2011] BUS 241-35: Business Law I) Announcements Assignments Course Documents Discussion Board My Grades Communication Tools Resources
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Selected Answer: [None Given] Correct Answer: True Question 6 A customer has sixty days from the date of receipt of a statement of an electronic transfer to notify the financial institution of any errors. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 7 Kris presents an instrument that states "pay to the order of Liv" to Metro Bank for payment. This is a special type of draft drawn on a bank, ordering the bank to pay a fixed amount of money on demand. This is Selected Answer: [None Given] Correct Answer: a check. 0 out of 2 points Question 8 Generally, the funds represented by a deposited local check must be available for withdrawal within one business day. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 9 Brandy forges Caleb's signature on a check "payable to the order of Brandy" drawn on Caleb's account in Downtown Bank. Caleb's forged signature is Selected Answer: [None Given] Correct Answer: not effective. 0 out of 2 points Question 10 Jen signs a check "pay to the order of Key" drawn on Jen's account in Little Bank to buy Key's car. Jen asks Little Bank to indicate on the face of the check that it will accept it when Key presents it for payment. If the bank agrees, this will be Selected Answer: [None Given] Correct Answer: a certified check. 0 out of 2 points
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12 - NR275.BUS.241.35.SP11 - ( [Spring 2011] BUS 241-35:...

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