American_Bankers_Association
CTFA · Question #93
An arrangement between the account holder and the depository institution wherein the institution automatically pays a check that overdraws the account is called:
The correct answer is D. Overdraft protection. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
An arrangement between the account holder and the depository institution wherein the institution automatically pays a check that overdraws the account is called:
Options
- AOverdrafts
- BUndercrofts
- CCheckbook ledger
- DOverdraft protection
How the community answered
(32 responses)- A9% (3)
- B3% (1)
- C3% (1)
- D84% (27)
Topics
#overdraft protection#checking accounts#depository institution#account agreements
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