Refer to Western Union

question 56

Multiple Choice

Refer to Western Union.Which type of service is the wire transfer of funds provided by the company?

• A)supplementary
• B)benchmarked
• C)core
• D)primary

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Definitions:

Annuity

A monetary product designed to deliver regular payouts, mainly aimed at funding retirees' income needs.

Compounded Monthly

A compound interest calculation method where interest is added to the principal balance each month.

RRSP

Registered Retirement Savings Plan, a Canadian financial vehicle for individuals to save for retirement on a tax-sheltered basis.

Nominal Rate

The advertised or stated interest rate on a loan or investment, not accounting for any fees or compounding of interest.