Quiz for A Closer Look Into Altered Checks
Quiz Summary
0 of 10 Questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Results
0 of 10 Questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Current
- Review
- Answered
- Correct
- Incorrect
-
Question 1 of 10
1. Question
- An altered check is a check or another negotiable instrument that has been materially and maliciously altered to effect a fraud. Usually, either the name of the payee, the amount of the check, or the date is changed
-
Question 2 of 10
2. Question
2. According the UCC § 4105(2), the bank that takes a check for deposit or collection is the what?
-
Question 3 of 10
3. Question
3. A person who signs the back of the check (not the person who signs as the maker on the front).
-
Question 4 of 10
4. Question
4. The _____________________ is the drawee of a check, the bank upon which a check is drawn.
-
Question 5 of 10
5. Question
5. __________________ means an unauthorized change in an instrument that purports to modify in any respect the obligation of a party, or an unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party
-
Question 6 of 10
6. Question
6. Which of the following are common check schemes?
-
Question 7 of 10
7. Question
7. The window to return checks is limited by the “midnight deadline,” which requires checks presented for payment be returned by midnight on the banking day after the banking day on which the check is presented (UCC 4-301).
-
Question 8 of 10
8. Question
8. How long does a bank have to file a Breach of Presentment Warranty claim directly with another bank?
-
Question 9 of 10
9. Question
9. Under UCC 4-302 if a check is presented to and received by a payor bank, the bank is accountable for the amount of the item if the bank retains the item beyond midnight of the banking day of receipt without settling for it or does not pay or return the item or send notice of dishonor until after its ________________ deadline.
-
Question 10 of 10
10. Question
10. In addition to other expectations, a SAR may need to be filed in certain circumstances involving altered checks