Certified Regulatory Compliance Manager (CRCM) — Question 164

A Reserve Bank may present a noncash item for payment if instructed to do so by the sender and if the:

Answer options

• A. Item provides that it must be presented for acceptance
• B. Item is payable elsewhere than at the residence or business of the payor
• C. Item sent directly to the paying bank or the nonbank payor
• D. Date of payment of the item depends on presentment for acceptance

Correct answer: A, B, D

Explanation

The correct answers A, B, and D indicate specific conditions under which a noncash item must be presented for payment. Option A emphasizes the item’s requirement for acceptance, while B highlights the location condition, and D addresses the dependency of the payment date on acceptance. Option C is incorrect because it does not meet the necessary conditions for presentment as stipulated.