A(n)____ Is a Set of Connections Between Banks That Issue

question 14

Multiple Choice

A(n) ____ is a set of connections between banks that issue credit cards, the associations that own the credit cards (such as MasterCard or Visa) , and merchants' banks.

• A)transaction network
• B)e-money network
• C)interchange network
• D)closed loop system

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Definitions:

Alimony Payments

Payments made to a spouse or former spouse under a divorce or separation agreement, possibly subject to special tax treatment.

Child Support Payments

Child Support Payments are periodic payments made by a noncustodial parent to support a child’s living expenses after a divorce or separation.

Series I Savings Bonds

U.S. government savings bonds that earn interest based on a combination of a fixed rate and an inflation rate.

Qualified Higher Education Expenses

Expenses associated with attendance at a post-secondary educational institution, which may be eligible for tax benefits.