Courses » SS3 » SS3 Commerce » Commerce Exam Topics » Standing order and bank draft - Questions and Answers

Standing order and bank draft - SS3 Commerce Past Questions and Answers - page 1

1

What is a standing order?

A

A secure payment method issued by a bank

B

An instruction for regular fixed payments

C

A form of payment drawn on an individual's personal account

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2

When is a standing order commonly used?

A

For one-time payments

B

For high-value purchases

C

For recurring payments

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3

How do standing orders work?

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4

What is a bank draft?

A

An instruction for regular fixed payments

B

A secure payment method issued by a bank

C

A form of payment drawn on an individual's personal account

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