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275. A(n) __________ allows money to be exchanged electronically more quickly and more
economically than with paper checks.
276. ___________ replace the typical magnetic strip on a credit or debit card with a
microprocessor.
277. Which of the following can include an embedded radio-frequency antenna that allows the
holder to access secure areas in buildings or buy gas with the swipe of a card?
278. On payday, employers can designate their banks to electronically transfer funds from the
business's checking account to the employees' checking account. This represents an example of
a(n):
279. Payroll debit cards:
280. Which of the following explains why Internet banks often offer their customers better
interest rates than traditional banks?
281. When a customer purchases an item with a debit card:
282. Banks prefer that customers use an electronic funds transfer system rather than
traditional methods of payment because:
283. As is common payroll procedure for most employers, Marissa's company _____________
her paycheck bi-monthly into her checking account. This is a paperless process and no check is
issued to the employee. By logging into her personnel system, Marissa has record of the net pay
that was deposited into her personal checking account and an account of how much was taken
out for taxes, Medicare, social security (FICA) and other deductions. Marissa's company has
adopted an efficient _________ system.
284. Chad travels extensively for his company. He stays at hotels that provide him with a(n)
____________ that is imbedded with his personal information as well as a code to unlock his hotel
room.
285. Juan has an authorized work permit issued by the U.S. government to work in the U.S.
Each day, Juan travels from Mexico to El Paso, TX, to work in the construction trade. At the time
that he was first employed, his U.S. employer issued him a(n) ___________. Each week, the
employer scans his work stipend onto it. Juan can purchase with it, access cash through an ATM
with it, and transfer funds with it. The risk for Juan is _________.
286. John searched for a new bank prior to filling out his direct deposit form at his new
employer. He noted that Twenty/Four/Seven E-Bank, Inc., offered better interest rates on
savings accounts and money market accounts; and it offered other amenities such as online
banking and funds transfer that many traditional banks offer. What is the most logical reason that
Twenty/Four/Seven can compete for customers by offering higher interest rates?
287. Which of the following is a bank service provided to help companies conduct business in
other countries?
288. A __________ represents an agreement by a bank to pay a foreign company a given
amount if certain conditions are met.
289. A __________ represents an unconditional agreement by a bank to pay a specified amount
at a particular time.
290. If the Fed increases interest rates in the U.S. relative to other nations:
291. The __________ primarily provides for the financing of economic development projects
throughout the world.
292. The World Bank provides funding for:
293. Which of the following helps to provide for the smooth flow of money between nations?
294. Critics of the World Bank charge the organization with:
295. When comparing a letter of credit and a banker's acceptance for financing international
business transactions, a letter of credit:
296. __________ currently provides for regulating international banking and finance practices.
297. Which of the following institutions monitors the monetary policies of member nations to
ensure a global monetary system that works best for all nations?
298. Which of the following institutions primarily finances economic development projects in
less-developed countries?
