Get Unlimited Contributor Access to the all ExamTopics Exams!
Take advantage of PDF Files for 1000+ Exams along with community discussions and pass IT Certification Exams Easily.
Which of the following is/are NOT limitations on liability in EFT?
A.
$150 liability limit if consumer notifies the institution within two business days of discovery of loss or theft of access device, not including the day the consumer learns of the loss or theft
B.
If state law has more generous limitations of liability for the consumer, the state laws will govern
C.
Full liability (up to the amount of the unauthorized transfer) may be imposed if the consumer does not notify the institution within 30 days of the institution's transmission of the statement on which the first unauthorized transfer appears (to raise the liability limit, the institution must first establish that the unauthorized transfers would not have occurred if the consumer had notified the institution within the 30 days). The unlimited liability applies only to the transactions that occur after the 30-day time period
D.
Extenuating circumstances (such as hospital confinements, travel, and so forth) may extend the liability time periods
Poorly worded question. Fix it! Option C outlines the conditions under which full liability may be imposed on the consumer for unauthorized transfers. It specifies that if the consumer fails to notify the institution within 30 days of the transmission of the statement containing the first unauthorized transfer, the consumer may be held fully liable for subsequent unauthorized transfers.
upvoted 1 times
...
Log in to ExamTopics
Sign in:
Community vote distribution
A (35%)
C (25%)
B (20%)
Other
Most Voted
A voting comment increases the vote count for the chosen answer by one.
Upvoting a comment with a selected answer will also increase the vote count towards that answer by one.
So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.
Want to SAVE BIG on Certification Exam Prep?
Dex24
1 month, 2 weeks agoCam22
3 months, 3 weeks ago