1)Which is true of FedGlobalSM ACH Payments offered by Federal Reserve Bank Services?

a.A fixed-to-fixed transfer method allows converted check payments to be settled during the current processing day

b.The fixed-to-variable option allows funds from accounts at a U.S. depository institution to be retrieved by any receiver at a participating bank location

c.FedGlobal provides a framework for cross-border debit payments between 35 countries

d.An account-to-account transfer is used to distribute ACH credit payments between deposit accounts

2)A Chinese investor invests in U.S. Treasury bills. If the Chinese renminbi (RMB) appreciates during the holding period against the U.S. dollar (USD), this investment

a.increases in value but default risk remains unchanged.

b.declines in value and decreases in default risk.

c.declines in value but default risk remains unchanged.

d.increases in value and decreases in default risk.