Practice - Facilitating Payments
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Practice Questions
Test your understanding with targeted questions
What is a cheque?
💡 Hint: Think about how cheques replace cash in transactions.
What does a debit card do?
💡 Hint: Consider how a debit card is different from a credit card.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is the primary purpose of a cheque?
💡 Hint: It's a means of making a payment without cash.
True or False: A bank draft is not guaranteed by the bank.
💡 Hint: Think about how the bank backs the payment in this instance.
2 more questions available
Challenge Problems
Push your limits with advanced challenges
You applied for a loan and were offered both a bank draft and a personal cheque for payment. Which would you choose and why?
💡 Hint: Consider security versus risk in your decision.
Discuss how electronic transfers could impact cash-based economies. What might be the advantages and disadvantages?
💡 Hint: Think about both technological benefits and social implications.
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Reference links
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