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Free CRCM Exam Braindumps (page: 123)

Page 122 of 344
PDF with 463 Questions

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.

  1. Item
  2. Debt collection form
  3. Validation form
  4. Correspondent check

Answer(s): A



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:

  1. Checks: Drafts drawn on a bank and payable on demand
  2. Pay checks
  3. Cash items: Checks or other items payable on demand and collectible at par and accepted at the Reserve Bank
  4. Noncash items: Items that a Reserve Bank classifies as requiring special handling

Answer(s): B



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:

  1. Checks: Drafts drawn on a bank and payable on demand
  2. Pay checks
  3. Cash items: Checks or other items payable on demand and collectible at par and accepted at the Reserve Bank
  4. Noncash items: Items that a Reserve Bank classifies as requiring special handling

Answer(s): B



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:

  1. Checks: Drafts drawn on a bank and payable on demand
  2. Pay checks
  3. Cash items: Checks or other items payable on demand and collectible at par and accepted at the Reserve Bank
  4. Noncash items: Items that a Reserve Bank classifies as requiring special handling

Answer(s): B






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