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CTP · Question #551

(Topic 6) The purpose of cash letters is to:

The correct answer is D. facilitate the clearing of paper checks. See the full explanation below for the reasoning.

Question

(Topic 6)

The purpose of cash letters is to:

Options

Aarrange currency deliveries from the Fed.
Brequest payment under standby letters of credit.
Ccollect merchant charge-card sales.
Dfacilitate the clearing of paper checks.

How the community answered

(39 responses)

A
3% (1)
B
10% (4)
C
3% (1)
D
85% (33)

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