21. True or False: A wire transfer can be sent directly to a recipient’s credit card account.
22. Which of the following is a common reason for using a cashier’s check instead of a demand draft?
a) Lower transaction fees
b) Faster processing time
c) Greater convenience for the sender
d) Higher level of security
23. Which of the following is NOT a required component of a demand draft?
a) Account number
b) Payee’s name and address
c) Signature of the sender
d) Bank routing number
24. True or False: Money orders can be purchased using a personal check.
25. Which of the following statements is true about the cost of a money order?
a) The cost is fixed and does not vary based on the amount being remitted
b) The cost is typically a percentage of the amount being remitted
c) The cost is higher for international money orders compared to domestic money orders
d) The cost varies depending on the method used to purchase the money order (cash, debit card, etc.)
