{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

13 - NR275.BUS.241.35.SP11[Spring 2011 BUS 241-35 Business...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
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 6:05 PM Name Module 5 Practice Test Status Completed Score 0 out of 100 points Time Elapsed 17 seconds out of 2 hours and Instructions Question 1 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 2 Trudy forges Uma's signature on a check "payable to the order of Trudy" drawn on Uma's account in Verity Bank. Most likely, if the bank pays the check Selected Answer: [None Given] Correct Answer: Verity will have to recredit Uma's account. 0 out of 2 points Question 3 A bank that encodes information on an item after its issue warrants to any subsequent bank that the information is correct. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 4 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 5 A bank is subject to a civil suit if its customer writes a bad check. Selected Answer: [None Given] 0 out of 2 points NR275.BUS.241.35.SP ([Spring 2011] BUS 241-35: Business Law I) Announcements Faculty & Course Informatio Assignments Course Documents Discussion Board My Grades Communication Tools Resources
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Correct Answer: False Question 6 Liu signs a check "pay to the order of Marv" drawn on Liu's account in National Bank. Liu later orders National not to pay the check, but the bank pays it over Liu's order. Subsequent checks written on Liu's account "bounce." Most likely liable for the costs to Liu is Selected Answer: [None Given] Correct Answer: Marv. 0 out of 2 points Question 7 If a customer's debit card is lost or stolen, the customer will not be liable for any unauthorized use of the card. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 8 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 Question 9 A check carries with it an implied promise to reimburse the bank for paying the check. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 10 Scott presents an instrument that states "pay to the order of Scott" to Town Bank for payment. This instrument is the most common type of negotiable instrument, which is Selected Answer: [None Given] Correct Answer: a check.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern