American_Bankers_Association
CTFA · Question #260
It is a type of open account offered by banks and other financial institutions that can be accessed by writing checks against demand deposit or specially designated credit line accounts. What is it?
The correct answer is A. Revolving line of credit. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
It is a type of open account offered by banks and other financial institutions that can be accessed by writing checks against demand deposit or specially designated credit line accounts. What is it?
Options
- ARevolving line of credit
- BUnsecured personal credit line
- COverdraft protection line
- DBoth A and B
How the community answered
(41 responses)- A73% (30)
- B2% (1)
- C7% (3)
- D17% (7)
Topics
#revolving credit#open account#demand deposit#credit line
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