Question 1

W.I.F.T. is used primarily for communications dealing with international funds transfers.

Accepted Answer

A) True 
 B)False  True

Question 2

One of the major advantages of electronic bill presentment is that vendors can present their bills electronically to the customer's bank and be paid immediately.

Accepted Answer

A) True 
 B)False  False

Question 3

Because of the "unbanked," the U.S. government continues to use checks to make payments to individuals.

Accepted Answer

A) True 
 B)False  False

Question 4

An "open system electronic purse" refers to

Accepted Answer

A)  A debit card that can be used at multiple locations 
B)  A smart card that can be used at multiple locations 
C)  A credit card that can be used multiple locations 
D)  A point-of-sale terminal for EDC 
A)  A debit card that can be used at multiple locations 
B)  A smart card that can be used at multiple locations 
C)  A credit card that can be used multiple locations 
D)  A point-of-sale terminal for EDC

Question 5

Electronic Data Capture (EDC) is used by CHIPS for clearing large-dollar payments.

Accepted Answer

A) True 
 B)False

Question 6

Brassage refers to

Accepted Answer

A)  The metal used in coins 
B)  Private money 
C)  Legal tender 
D)  The cost of producing currency 
A)  The metal used in coins 
B)  Private money 
C)  Legal tender 
D)  The cost of producing currency

Question 7

Retail electronic banking refers to

Accepted Answer

A)  cash withdrawals from financial institutions 
B)  small-dollar transfers 
C)  electronic retail payments by individuals and businesses 
D)  smart cards 
A)  cash withdrawals from financial institutions 
B)  small-dollar transfers 
C)  electronic retail payments by individuals and businesses 
D)  smart cards

Question 8

Same-day settlement for large-dollar transfers

Accepted Answer

A)  Multilateral netting 
B)  Gross settlement 
C)  Settlement at the end of the day 
D)  Settlement for each transaction as it occurs 
A)  Multilateral netting 
B)  Gross settlement 
C)  Settlement at the end of the day 
D)  Settlement for each transaction as it occurs

Question 9

Payments made over CHIPS have "finality."

Accepted Answer

A) True 
 B)False

Question 10

Electronic banking began after the internet was developed and became widely used.

Accepted Answer

A) True 
 B)False

Question 11

Most ATM systems today are

Accepted Answer

A)  Part of CHIPS 
B)  Proprietary 
C)  Part of S.W.I.F.T 
D)  shared and national 
A)  Part of CHIPS 
B)  Proprietary 
C)  Part of S.W.I.F.T 
D)  shared and national

Question 12

The most visible means of electronic banking is

Accepted Answer

A)  Home mortgage loans 
B)  Internet brokerage 
C)  Electronic commerce 
D)  ATMs 
A)  Home mortgage loans 
B)  Internet brokerage 
C)  Electronic commerce 
D)  ATMs

Question 13

Proprietary ATM systems are increasingly popular.

Accepted Answer

A) True 
 B)False

Question 14

ATMs are the most visible form of electronic banking.

Accepted Answer

A) True 
 B)False

Question 15

Settlement risk involves credit risk, liquidity risk, and interest rate risk.

Accepted Answer

A) True 
 B)False

Question 16

Check and credit cards account for most retail funds transfers.

Accepted Answer

A) True 
 B)False

Question 17

The Debt Collection Improvement Act of 1996 required

Accepted Answer

A)  That Regulation E include make provisions for late payments 
B)  That debtors be given 90 days notice before foreclosure 
C)  That the U.S. government payments to individuals be done electronically 
D)  That banks notify retail customers of their account status when payments are overdue 
A)  That Regulation E include make provisions for late payments 
B)  That debtors be given 90 days notice before foreclosure 
C)  That the U.S. government payments to individuals be done electronically 
D)  That banks notify retail customers of their account status when payments are overdue

Question 18

Real-term Gross Settlement is used by

Accepted Answer

A)  Fedwire 
B)  S.W.I.F.T 
C)  CHIPS 
D)  Intuit and CheckFree 
A)  Fedwire 
B)  S.W.I.F.T 
C)  CHIPS 
D)  Intuit and CheckFree

Question 19

Electronic banking began in the United States in

Accepted Answer

A)  1870s 
B)  1920s 
C)  1960s 
D)  1980s 
A)  1870s 
B)  1920s 
C)  1960s 
D)  1980s

Question 20

Electronic money is legal tender.

Accepted Answer

A) True 
 B)False

W.I.F.T. is used primarily for communications dealing with international funds transfers.

One of the major advantages of electronic bill presentment is that vendors can present their bills electronically to the customer's bank and be paid immediately.

Because of the "unbanked," the U.S. government continues to use checks to make payments to individuals.

An "open system electronic purse" refers to

Electronic Data Capture (EDC) is used by CHIPS for clearing large-dollar payments.

Brassage refers to

Retail electronic banking refers to

Same-day settlement for large-dollar transfers

Payments made over CHIPS have "finality."

Electronic banking began after the internet was developed and became widely used.

Most ATM systems today are

The most visible means of electronic banking is

Proprietary ATM systems are increasingly popular.

ATMs are the most visible form of electronic banking.

Settlement risk involves credit risk, liquidity risk, and interest rate risk.

Check and credit cards account for most retail funds transfers.

The Debt Collection Improvement Act of 1996 required

Real-term Gross Settlement is used by

Electronic banking began in the United States in

Electronic money is legal tender.

Functions and Forms of Banking

The Bank Regulatory Environment

Evaluating Bank Performance

Bank Valuation

An Overview of Assetliability Management Alm

Techniques of Assetliability Management: Futures, Options, and Swaps

Investment Management

Credit Evaluation Process

Commercial and Industrial Lending

Real Estate and Consumer Lending

Liquidity Management

Capital Management

Managing Liabilities

Off-Balance Sheet Activities

Securities, Investment Insurance Products

Other Financial Services

Global Financial Services

Filters

Exam 17: Electronic Banking

W.I.F.T. is used primarily for communications dealing with international funds transfers.

One of the major advantages of electronic bill presentment is that vendors can present their bills electronically to the customer's bank and be paid immediately.

Because of the "unbanked," the U.S. government continues to use checks to make payments to individuals.

An "open system electronic purse" refers to

Electronic Data Capture (EDC) is used by CHIPS for clearing large-dollar payments.

Brassage refers to

Retail electronic banking refers to

Same-day settlement for large-dollar transfers

Payments made over CHIPS have "finality."

Electronic banking began after the internet was developed and became widely used.

Most ATM systems today are

The most visible means of electronic banking is

Proprietary ATM systems are increasingly popular.

ATMs are the most visible form of electronic banking.

Settlement risk involves credit risk, liquidity risk, and interest rate risk.

Check and credit cards account for most retail funds transfers.

The Debt Collection Improvement Act of 1996 required

Real-term Gross Settlement is used by

Electronic banking began in the United States in

Electronic money is legal tender.

Functions and Forms of Banking

The Bank Regulatory Environment

Evaluating Bank Performance

Bank Valuation

An Overview of Assetliability Management Alm

Techniques of Assetliability Management: Futures, Options, and Swaps

Investment Management

Credit Evaluation Process

Commercial and Industrial Lending

Real Estate and Consumer Lending

Liquidity Management

Capital Management

Managing Liabilities

Off-Balance Sheet Activities

Securities, Investment Insurance Products

Other Financial Services

Global Financial Services

Filters