Quiz for Regulation E: Errors, Disputes, and Liabilities
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Question 1 of 10
1. Question
- The Electronic Fund Transfer Act of 1978 was passed to protect consumers engaging in electronic fund transfers, or EFTs safe harbors for SAR filings apply only to mandatory filings when the suspicious activity involves potential EFE.
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Question 2 of 10
2. Question
2. ________________services include things like transfers through automated teller machines, or ATMs, point-of-sale terminals, automated clearinghouse systems, or ACH systems, telephone bill-payment plans in which periodic or recurring transfers are contemplated, and remote banking programs.
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Question 3 of 10
3. Question
3. Regulation E applies to ______________________ accounts capable of making or receiving an electronic funds transfer.
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Question 4 of 10
4. Question
4. Which of the following are not an EFT?
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Question 5 of 10
5. Question
5. An _______________ is an example of unauthorized EFT.
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Question 6 of 10
6. Question
6. An electronic fund transfer from a consumer’s account initiated by a person other than the consumer without actual authority to initiate the transfer and from which the consumer receives no benefit is a what?
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Question 7 of 10
7. Question
7. An ________________________ is any means of access to a consumer’s account that may be used by the consumer to initiate an electronic funds transfer, including a card, code, or other means of access to a consumer’s account, or any combination thereof, that may be used by the consumer to initiate electronic fund transfers (includes debit cards, personal identification numbers (PINs), telephone transfer and telephone bill payment codes, and other means that may be used by a consumer to initiate an EFT.
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Question 8 of 10
8. Question
8. A notice of error must be received by the bank no later than ______________ after the bank sends the periodic statement or provides the passbook documentation on which the alleged error is first reflected.
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Question 9 of 10
9. Question
9. If a customer writes their pin number on their debit card and then experience unauthorized transactions, the bank is not responsible for conducting an investigation.
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Question 10 of 10
10. Question
10. A customer may notify the bank of an error orally or in writing.