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Question 1 of 10
1. Question
1. Which remittance method, often used for supporting family abroad, involves issuing a paper-based instrument guaranteeing a specific amount?
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Question 2 of 10
2. Question
2. What distinguishes Real-Time Gross Settlement (RTGS) as an EFT method for domestic transfers?
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Question 3 of 10
3. Question
3. Which modern electronic remittance method typically offers the fastest and most secure way to send funds internationally?
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Question 4 of 10
4. Question
4. What is a potential limitation of using Society for Worldwide Interbank Financial Telecommunication (SWIFT) for international transfers?
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Question 5 of 10
5. Question
5. Which method facilitates instant 24/7 domestic transfers and is a good choice for quick and small value transfers?
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Question 6 of 10
6. Question
6. What is the key benefit of Real-Time Gross Settlement (RTGS) for domestic transfers?
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Question 7 of 10
7. Question
7. What distinguishes Traditional Methods of remittance like Demand Drafts and Banker’s Cheques from Modern Electronic Methods?
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Question 8 of 10
8. Question
8. Which remittance method is a digital representation of a paper check, used for clearing purposes?
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Question 9 of 10
9. Question
9. What distinguishes Wire Transfers from Electronic Funds Transfers (EFT) in terms of speed and cost?
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Question 10 of 10
10. Question
10. What is the primary benefit of Mobile Wallets and Apps in the context of remittances?
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