American_Bankers_Association
CTFA · Question #93
CTFA Question #93: Real Exam Question with Answer & Explanation
The correct answer is D. Overdraft protection. See the full explanation below for the reasoning.
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
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