16. Which of the following is not a member of the Automated Clearing House (ACH) network?
a) Banks
b) Financial institutions
c) Merchants
d) Individuals
17. What is the purpose of a BIN (Bank Identification Number) in payment card systems?
a) To identify the issuing bank
b) To validate the card number
c) To authorize the transaction
d) To prevent fraud
18. Which of the following is an example of a centralized payment system?
a) Bitcoin
b) Ripple
c) Blockchain
d) Litecoin
19. What is the purpose of a Unique Identification Number (UID) in payment systems?
a) To identify the payer
b) To identify the payee
c) To track the transaction
d) To prevent double spending
20. In a Real-Time Gross Settlement (RTGS) system, settlements are _______.
a) Processed in batches
b) Processed individually and immediately
c) Processed at pre-determined intervals
d) Processed manually
