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Q: 11
The sender’s liability for warranties and indemnities that a Reserve Bank makes for a substitute check is subject to the following conditions and limitations EXCEPT:
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Q: 12
Which one of the following should be included in an early termination notice in case of the termination from consumer leasing agreement?
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Q: 13
The act limited balloon payments in consumer leases and enabled consumers to compare lease terms with credit terms where appropriate. The act was implemented by Regulation M (Consumer Leasing). It requires disclosures to consumers before consummation of the lease agreement. This act is:
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Q: 14
By presentation or transmission of an item a Reserve Bank warrants to a subsequent collecting bank and paying bank that:
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Q: 15
Practice/s addressed in the guidance of OCC advisory on credit card practices-AL-2004- 10 is/are:
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Q: 16
First National Bank has made three loans to Mrs. Elmwood. Two of the loans are regulated credits (they are for the purpose of purchasing margin stock and secured by margin stock). The third loan is for the purpose of purchasing margin and nonmargin stock, and the loan is secured by real estate and margin stock. Can the bank avoid having the third loan combined with the other two for Regulation U purposes?
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Q: 17
Banks may extend and maintain purpose credit without complying with Regulation U if the credit is extended:
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Q: 18
The Fair Credit Reporting Act (FCRA) became effective in 1971. The purpose of FCRA is to regulate:
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Q: 19
For purposes of insider lending laws and regulations, what is the definition of the term executive officer?
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Q: 20
The Reserve Bank may recover from the sender the attorneys’ fees if an action is brought against a Reserve Bank on the basis of:
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Question 11 of 20 · Page 2 / 2

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