American_Bankers_Association
CTFA · Question #401
CTFA Question #401: Real Exam Question with Answer & Explanation
The correct answer is A. Total time between the mailing of the check by the customer and the availability of cash to the. See the full explanation below for the reasoning.
Question
Collection float is the __________.
Options
- ATotal time between the mailing of the check by the customer and the availability of cash to the
- BTime consumed in clearing the check through the banking system
- CTime the check is in the mail
- DTime during which the check received by the firm remains uncollected
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