11. Which of the following is a non-bank financial institution commonly used for remittance?
a) Credit union
b) Insurance company
c) PayPal
d) Stock brokerage firm
12. True or False: Money orders can be purchased using a credit card.
13. Which of the following is a disadvantage of using money orders for remittance?
a) Limited acceptability outside of the country of issue
b) Higher transaction fees compared to other methods
c) Limited amount that can be remitted per transaction
d) Longer processing time compared to wire transfers
14. Which of the following statements is NOT true about wire transfers?
a) They can be initiated online or in person at a bank branch
b) They are usually completed within a few hours
c) They require the recipient’s bank account number and routing number
d) They are a secure method of remittance as funds are transferred electronically
15. True or False: All banking methods of remittance require the sender to have a bank account.
