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CTP · Question #684

(Topic 7) When a paper check is converted to an electronic form:

The correct answer is B. it falls under the rules of Regulation E. See the full explanation below for the reasoning.

Question

  • (Topic 7)

When a paper check is converted to an electronic form:

Options

  • Athe payment becomes irrevocable and unconditional.
  • Bit falls under the rules of Regulation E.
  • Cthe source document is always returned to the originator.
  • Dit retains its status as a check.

How the community answered

(39 responses)
  • A
    10% (4)
  • B
    79% (31)
  • C
    8% (3)
  • D
    3% (1)

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