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Free CRCM Exam Braindumps (page: 128)

Page 127 of 344
PDF with 463 Questions

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:

  1. The sender of an original check is not liable for amounts paid by the Reserve Bank absent the sender's agreement to the contrary
  2. The sender's liability under Regulation CC is not altered by the Regulation J provisions
  3. Failure of sender to have authority to make the required warranties and agreements
  4. A sender of an electronic item that is not a substitute check is not liable for any amount paid by a Reserve Bank that is attributable to the Reserve Bank's own lack of good faith or failure to exercise ordinary care

Answer(s): C



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:

  1. The sender of an original check is not liable for amounts paid by the Reserve Bank absent the sender's agreement to the contrary
  2. The sender's liability under Regulation CC is not altered by the Regulation J provisions
  3. Failure of sender to have authority to make the required warranties and agreements
  4. A sender of an electronic item that is not a substitute check is not liable for any amount paid by a Reserve Bank that is attributable to the Reserve Bank's own lack of good faith or failure to exercise ordinary care

Answer(s): C



The Reserve Bank may recover from the sender the attorneys' fees if an action is brought against a Reserve Bank on the basis of:

  1. Failure of sender to have authority to make the required warranties and agreements
  2. Any action by the Reserve Bank within the scope of its authority in handling the item
  3. Any warranty made by the Reserve Bank
  4. All of the above

Answer(s): D



The Reserve Bank may recover from the sender the attorneys' fees if an action is brought against a Reserve Bank on the basis of:

  1. Failure of sender to have authority to make the required warranties and agreements
  2. Any action by the Reserve Bank within the scope of its authority in handling the item
  3. Any warranty made by the Reserve Bank
  4. All of the above

Answer(s): D






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