Depository - Study guides, Class notes & Summaries

A company or individual that has been authorized by the Receiver to initiate either a credit or debit ACH entry to their account. - Precise Answer Originator A financial institution that receives payment instructions from Originators and forwards the entries to the ACH Operator. - Precise Answer Originating Depository Financial Institution (ODFI) ACH Payment Transaction are accumulated throughout the day, sent to the ACH Operator, sorted by destination, and transmitted in groups at specifi...

CRCM Practice | Questions And Answers | 100% Correct Answers Which of the following is not exempt from the rules on reasonable and proportional pricing of electronic debit transactions? ANS A debit card issued by a community bank with $7 billion in assets, affiliated with another depository institution with assets of $5 billion Which of the following statements is true regarding debt card interchange fees and routing? ANS An issuer can meet the requirements of the network exclusivity rule ...

HFMA's CSAF 2024, Certified Specialist Accounting and Finance. Exam Questions and Answers 100% Pass Contribution Margin - answerDifference between marginal revenue and marginal cost. Break-even point - answerLevel of sales volume of a product producing the exact amount of contribution margin needed to cover fixed costs. Overhead - answerIndirect Costs Activity-based costing (ABC) - answerMethod of determining product costs using cost drivers or activity measures, which cause indirect ...

The SAFE Act Chapter 6 Latest Update Graded A+ Nontraditional Mortgage Product Defined by the SAFE Act as any mortgage product other than a 30-year fixed rate mortgage; as defined by the Interagency Guidance on Nontraditional Mortgage Product Risk, allows a borrower to defer principal and, sometimes, interest. Registered Loan Originator A natural person who is employed by a depository institution that is regulated by a federal banking agency and is exempt from state licensing regulat...

A check is not considered a negotiable instrument under Regulation CC if it... correct answer: Is not printed with MICR Ink FedWire Funds are final and irrevocable upon completion of processing by the... correct answer: Federal Reserve Banks A security procedure is not considered commercially reasonable for a wire transfer if... correct answer: The security procedure is only compared to a signature Real-time Payments (RTP) allows a financial institution to limit its exposure risk by....

Test Bank for Money, Banking and Financial Markets, 2024 Release 6e 6th Edition by Stephen Cecchetti, Kermit Schoenholtz. Complete chapters (Chap 1 to 23) are included with answers. PART I: MONEY AND THE FINANCIAL SYSTEM 1 An Introduction to Money and the Financial System 2 Money and the Payments System 3 Financial Instruments, Financial Markets, and Financial Institutions PART II: INTEREST RATES, FINANCIAL INSTRUMENTS, AND FINANCIAL MARKETS 4 Future Value, Present Value, and I...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

Test Bank for Investments, 12th Edition, Zvi Bodie, Alex Kane, Alan Marcus, ISBN10: 9, ISBN13: 3832 1. Award: 1.00 point The material wealth of a society is a function of  all financial assets.  all real assets.  all financial and real assets.  all physical assets. The material wealth of a society is a function of all real assets. References Multiple Choice Difficulty: 1...

What are the main services offered by financial institutions? A. Soliciting charitable donations and then managing the distribution of these funds B. Accepting a wide variety of deposits, offering investment products, providing loans, and brokering financial transactions C. Deciding which assets to invest in to create wealth in the future D. Evaluating sources of funding for a business project, the capital structure of a firm, or actions managers could take to increase the value of the fir...

CLEP American Government; Questions And Answers 100% Solved Federal Reserve Tasks Correct answer Providing financial services to depository institutions, the United States government and foreign institutions, as well as playing a key role in operating the nation's payments system Although the Constitution does not explicitly give Congress the right to enact a military draft, which clause in the Constitution allows Congress to do so? Correct answer Necessary and proper clause