1.Why are payment orders more efficient payment instruments than barter?

2.Explain how debit and credit cards operate as payment orders and how they differ from each other.

3.Explain the purpose of superannuation and the main conditions of superannuation schemes.

4.What is intermediation? Explain its contribution to the flow-of-funds.

5.Specify APRA's five categories of ADIs and their relative share of ADI assets.

6.Describe the main characteristics of bank deposits.

7.Describe the inter-bank overnight market and its relevance to the payments system.

8.Why do banks prefer to rely on their deposits in the inter-bank overnight market (for extra ES funds) than to borrow the funds overnight from the RBA?

9.What is meant by the 'financial system's liquidity'? Explain how payments by the RBA add to the financial system's liquidity.

10.Describe how the RBA conducts its market operations.

11.Explain how the RBA uses market operations to maintain the level of the cash rate.