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NEW QUESTION: 1
First National Bank receives a notice from the IRS to begin withholding 28 percent of the interest payments on the money market savings account of Myra Wilcox because of payee underreporting. What is the most proper action for First National Bank to take?
A. Begin withholding with the first payment after 30 days and send a notice to Ms. Wilcox at least 15 days before the first payment from which funds are to be withheld; stop withholding only on written notice from the IRS
B. Send notice to Ms. Wilcox within 15 days of the receipt of the IRS notice and begin backup withholding with the first payment following 30 days after the notice; stop withholding only on written notice from the IRS
C. Begin withholding and send a notice to Ms. Wilcox within 15 days of beginning the withholding; stop withholding only on written notice from the IRS
D. Send a notice to Ms. Wilcox within 15 days of the receipt of the IRS notice and begin withholding; stop withholding if Ms.Wilcox can prove to the bank that she is not underreporting
Answer: C

NEW QUESTION: 2
The steps which the US Treasury Department and the Federal Reserve took in July 2008 to boost confidence in both Fannie Mae and Freddie Mac did not include which one of the following:
A. Reiterating their belief that both companies played a central role in the US housing finance system
B. Access to the Federal Reserve discount window
C. Restricting the sale of new Fannie Mae and Freddie Mac securities only to US citizens
D. Removing the prohibition on the Treasury Department to buy both companies stock
Answer: A

NEW QUESTION: 3
The BEST method to mitigate the risk of a dictionary attack on a system is to
A. implement password history.
B. encrypt the access control list (ACL).
C. use a hardware token.
D. use complex passphrases.
Answer: C