If your monthly mortgage is $987.85, are you likelier to make your payments by

A. Fedwire

B. ACH

The correct answer is B

If Robert writes a check to Acme Corp., what is the likely path his check will take?

A. Robert to Acme to the Federal Reserve Bank to Acme's bank to Robert's bank

B. Robert to Acme to Acme's bank to the Federal Reserve to Robert's bank

C. Robert to Acme to Robert's bank to the Federal Reserve to Acme's bank

D. Robert to Acme to Acme's bank to Robert's bank

E. Robert to Acme to Acme's bank to the Federal Reserve to the U.S. Treasury to Robert's bank

The correct answer is B

How does Fedwire transfer money?

A. by truck

B. by boat

C. by computer

D. by mail

E. by pony

The correct answer is C

If a company in California wishes to send money electronically to a company in Virginia, which combination of institutions are likely to be involved?

A. 2 banks, 2 feds, and the Treasury

B. 2 banks and 1 fed

C. 2 banks and 2 feds

D. 1 bank and 2 feds

The correct answer is C

Social Security benefits are transferred via

A. Fedwire.

B. ACH.

The correct answer is B