Certified Payroll Professional Practice Exam

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What is impacted by Federal Banking Holidays?

  1. Federal Reserve System closure only

  2. Stopping payment of checks only

  3. Escheat Laws only

  4. Banking transactions processing and reissuing of checks

The correct answer is: Banking transactions processing and reissuing of checks

Federal Banking Holidays impact banking transactions processing and the reissuing of checks. During Federal Banking Holidays, banks are closed, which affects the processing of transactions, including direct deposits and bill payments. Additionally, the reissuing of checks may be delayed due to the holiday. The other options are not directly impacted by Federal Banking Holidays.

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