Canadian Securities Course (CSC) Level 1 Practice Exam

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What is the Large Value Transfer System?

A system for transferring personal bank funds to investment accounts
An international payment service for large corporations
An electronic system allowing transactions between financial institutions
A government program to support small businesses

The correct answer is: An electronic system allowing transactions between financial institutions

The Large Value Transfer System is an electronic system that enables the transfer of large sums of money between financial institutions. It is a key component of the financial infrastructure in Canada, facilitating the efficient and secure settlement of high-value payments. This system helps ensure that payments are processed smoothly and that financial institutions can exchange funds reliably and promptly.