QUESTION: 177

A Reserve Bank may present a noncash item for payment if instructed to do so by the sender and if the:

Item provides that it must be presented for acceptance
Item is payable elsewhere than at the residence or business of the payor
Item sent directly to the paying bank or the nonbank payor
Date of payment of the item depends on presentment for acceptance

Answer(s): A,B,D

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QUESTION: 177

A Reserve Bank may present a noncash item for payment if instructed to do so by the sender and if the:

Item provides that it must be presented for acceptance
Item is payable elsewhere than at the residence or business of the payor
Item sent directly to the paying bank or the nonbank payor
Date of payment of the item depends on presentment for acceptance

Answer(s): A,B,D

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QUESTION: 177

A Reserve Bank may present a noncash item for payment if instructed to do so by the sender and if the:

Item provides that it must be presented for acceptance
Item is payable elsewhere than at the residence or business of the payor
Item sent directly to the paying bank or the nonbank payor
Date of payment of the item depends on presentment for acceptance

Answer(s): A,B,D

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A must settle for an item with its administrative bank, whether or not it received the item from that bank. Settlement with its administrative bank is deemed to be settlement with the Reserve Bank that sent the item.

Paying bank
Clearing Agent
Regulation J
Regulation CC

Answer(s): A

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QUESTION: 177

QUESTION: 177

QUESTION: 177

QUESTION: 178