American_Bankers_Association
CTFA · Question #96
It is a check payable to a third party that is drawn by a bank on itself in exchange for the amount specified plus, in most cases, a service fee (of about $5).
The correct answer is A. Cashier's check. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
It is a check payable to a third party that is drawn by a bank on itself in exchange for the amount specified plus, in most cases, a service fee (of about $5).
Options
- ACashier's check
- BTraveler's check
- CCertified check
- DNone of these
How the community answered
(44 responses)- A75% (33)
- B7% (3)
- C16% (7)
- D2% (1)
Topics
#cashier's check#bank instruments#negotiable instruments#payment methods
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