04. ICB M01 Quiz

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Question 1 of 12

1. Question
For someone who lives in Denmark and initiates a payment from his DKK account, what are the cross-border payments among the following?
- A : A payment in Danish krone (DKK) to a beneficiary account located in Canada.
- B : A payment in Swedish krone (SEK) to a beneficiary account located in Sweden.
- C : A payment in Danish krone (DKK) to a beneficiary account located in Denmark.
- D : A payment in Australian dollar (AUD) to a beneficiary account located in Denmark.
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Question 2 of 12

2. Question
A currency never leaves its monetary zone of origin. What does it mean?
- A : Cash never moves out of a country.
- B : Transfers in a currency must ultimately be executed and settled in the payment systems of that currency.
- C : Electronic money is kept on bank accounts in the monetary zone of the currency.
- D : End parties cannot have bank accounts in the currency of another monetary zone than where they live.
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Question 3 of 12

3. Question
Why should you look at the role of SWIFT if you want to understand Cross border payments?
- A : Because SWIFT manages Bank accounts for cross border payments.
- B : Because SWIFT belongs to the largest players in payments globally.
- C: Because SWIFT owns the network called SWIFTNet, which enables banks and corporations to exchange payments worldwide.
- D : Because all the banks in the world are connected to the SWIFT Network.
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Question 4 of 12

4. Question
Payment Market infrastructures all around the world are organized according to which types of payment systems models?
- A : Closed loop models
- B : Open loop models
- C : Faster payments models
- D : High value payments models
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Question 5 of 12

5. Question
The central bank of the Euro area operates which of the following payment systems?
- A : TIPS
- B : TARGET2
- C : CORE
- D : EBA STEP2
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Question 6 of 12

6. Question
Which of the following are names of high value payment systems in the USA?
- A : EPN – Electronic Payments Network
- B : ACH – Automated Clearing House
- C : Fedwire
- D : CHIPS – Clearing House Interbank Payments System
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Question 7 of 12

7. Question
What are the roles of the Fast Settlement Service (FSS) in Australia?
- A : FSS is used to settle Bulk transactions faster.
- B : FSS is the settlement component of the NPP which was built by RBA.
- C : FSS allows transactions to be settled individually on a 24/7 basis, in close to real time.
- D : FSS enables the faster settlement of currency transactions.
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Question 8 of 12

8. Question
Banks in the UK can participate to many central bank systems. Which ones?
- A : CHAPS
- B : RITS
- C : TARGET2
- D : LINK
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Question 9 of 12

9. Question
The China National Advanced Payment System (CNAPS) is composed of many systems. Which are they?
- A : Cross-border International Payments System (CIPS)
- B : Internet Banking Payments System (IBPS)
- C : HVPS (High-Value Payment System)
- D : BEPS (Bulk-Entry Payment System)
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Question 10 of 12

10. Question
What is the name of the Japanese card network?
- A : CLS
- B : Japan Credit Bureau
- C : BOJ-NET
- D : Zengin
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Question 11 of 12

11. Question
How do Canadian Banks use the Continuous Linked Settlement system?
- A : To clear and settle Low value transaction continuously.
- B : To clear and settle CAD-leg of FX transactions.
- C : To clear and settle high value transaction.
- D : To clear and settle mobile payments continuously.
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Question 12 of 12

12. Question
Select low value payment systems in India among the following.
- A : National Electronic Funds Transfer (NEFT)
- B : National Automated Clearing House (NACH)
- C : IMmediate Payment Service (IMPS)
- D: Real-Time Gross Settlement (RTGS)
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Initiation to Cross-Border Payments

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