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ABA CRCM Practice Test - Questions Answers, Page 19

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Question 181

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It is a corporation or a non-depository institution that maintains an account with a Reserve Bank

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Question 182

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It is an instrument or promise or order to pay money (whether negotiable or non negotiable) sent by a sender and payable in a Federal Reserve District or sent to and collectible in funds acceptable to a Reserve Bank. An electronic image of an this document together with electronic information describing that item in an approved format will be considered a valid instrument.

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Question 183

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An electronic image of an item together with electronic information describing that item in an approved format will be considered a valid instrument. Common forms of instruments are the following EXCEPT:

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Question 184

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Reserve Banks must issue operating circulars, which, together with Regulation J, govern the details of handling items through the Reserve Bank, including

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Question 185

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One of the check collection requirements is sending items to Reserve Banks. In this requirement:

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Question 186

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Any of the following foreign correspondents for which the Federal Reserve maintains an account EXCEPT:

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Question 187

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By sending an item to a Reserve Bank, a sender:

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Question 188

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The sender agrees to indemnify each Reserve Bank for:

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Question 189

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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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Question 190

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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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