01. PF Module 03 Quiz

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Question 1 of 10

1. Question
1 point(s)
In the Four Corner Model, Which of the following does not belong to the Four Corners?
- A : The Clearing system
- B : The Settlement system
- C : The Bank Customers
- D : The Banks and other Payment Service Providers
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Question 2 of 10

2. Question
1 point(s)
Name the Four Corners present in the Four corner Model for cheque payments
- A : Drawee, Drawee’s Bank, Payee, Payee’s Bank
- B : Drawer, Drawer’s Bank, Payee, Payee’s Bank
- C : Issuer, Drawee’s Bank, Payee, Payee’s Bank
- D : Payer, Issuing Bank, Beneficiary, Beneficiary Bank
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Question 3 of 10

3. Question
1 point(s)
From which models does the Four Corner Model originate?
- A : The Four Corner Model comes from closed loop models.
- B : The Four Corner Model comes from open loop models.
- C : The Four Corner Model comes from centralized models.
- D : All of the three other options.
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Question 4 of 10

4. Question
1 point(s)
What can a direct participant to a clearing or settlement system do?
- A : A direct participant accesses the system directly.
- B : A direct participant can perform all activities allowed in the system.
- C : A direct participant receives transactions from the system on behalf of indirect participants.
- D : A direct participant performs some activities with the help of intermediaries.
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Question 5 of 10

5. Question
1 point(s)
Which statements describe what the participation directory of clearing or settlement system is?
- A : It is a directory that provides information about all the participants/members of the clearing or settlement system
- B : It is a directory that contains information about direct participants only
- C : It is directory that must be updated and published every time a new member joins the system.
- D : It is a directory that is used mainly for reachability check and routing.
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Question 6 of 10

6. Question
1 point(s)
What is reachability check?
- A : Reachability check consists in checking if the bank / PSP to which the payment should be sent is present in the Participation Directory with an active status.
- B : Reachability check consists in checking if the bank / PSP to which the payment should be sent is live on the network and can receive a message.
- C : A successful reachability check means the sender can send transactions to the participant through the clearing or settlement system.
- D : Reachability check is performed after routing.
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Question 7 of 10

7. Question
1 point(s)
Which statement are correct about Tiering arrangement?
- A : A tiering arrangement is an agreement between a Direct Participant and an indirect participant.
- B : A tiering arrangement is an agreement between a bank and end party customers
- C : Tiering arrangement is an arrangement whereby indirect participants in a system require the services of direct participants in order to fulfill all their obligations.
- D : A tiering arrangement is an agreement solely for the exchange of transactions
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Question 8 of 10

8. Question
1 point(s)
What are the models of Indirect participation?
- A : Indirect participation with no direct access to the clearing system
- B : Indirect participation with direct connections to clearing and settlement system.
- C : Indirect participation with direct access to the clearing system
- D : Indirect participation with liquidity management.
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Question 9 of 10

9. Question
1 point(s)
Indirect participation with direct access to the clearing system are used mainly for which types of payments?
- A : Instant payments
- B : Card payments
- C : Cheques.
- D : Direct debits
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Question 10 of 10

10. Question
1 point(s)
What is the composition of the Four Corner Model?
- A : One bank, its end party, another bank and its end party
- B : One bank and its end party, another bank and its end party, the clearing system interconnecting the two banks
- C : One bank and its end party, another bank and its end party, the settlement system interconnecting the two banks
- D : One bank and its end party, another bank and its end party, the clearing and settlement systems interconnecting the two banks
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Payments Fundamentals

01. PF Module 03 Quiz

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