6. Which of the following methods of remittance is more commonly used for international transactions?
a) Wire transfer
b) Demand draft
c) Cashier’s check
d) Money order
7. True or False: A demand draft can be purchased using cash.
8. Which of the following is NOT a required component of a wire transfer?
a) Account number
b) Bank routing number
c) Beneficiary name and address
d) Date of birth
9. What is the typical cost associated with a wire transfer?
a) $10-20
b) $50-75
c) $100-150
d) It varies depending on the amount and distance
10. Which of the following is a disadvantage of using a cashier’s check for remittance?
a) Higher risk of loss or theft
b) Delayed processing time
c) Limited availability outside of the issuing bank’s location
d) High transaction fees
