
FIN 370
Authored by BALKIS KASMON
Social Studies
University
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50 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "remittance" primarily refer to?
Sending goods to another country
A type of loan provided by a bank
The process of sending money to fulfill an obligation
The act of receiving money from abroad
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following scenarios is an example of remittance?
A bank giving a loan to a customer
A citizen transferring funds to pay her taxes
A vendor sending goods to a customer in another country
A government borrowing money from an international organization
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is remittance most commonly carried out?
By electronic transfer of funds
By mailing a check
Through a cash deposit in person
Through physical delivery of money
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a Cashier's Order?
A type of loan provided by the bank
An electronic transfer made by the bank
A cheque issued by an individual to a bank
A cheque issued by the bank payable to a specified payee within a local area
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who decides variations in the rate for remittance products, including a Cashier's Order?
The bank manager
The government
The Credit Committee
The customer
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a Demand Draft?
A cheque drawn by a bank for payment outside the local area
A cheque drawn by an individual on their own account
A loan document issued by the bank
A type of cash deposit slip
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
For what purpose is a Demand Draft typically used?
For local cash withdrawals
For applying for a bank loan
For purchasing goods within a local market
For making payments outside the local area, domestically or abroad
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