Q34
What is PAC?
A.
Post-Authorized Cheque
B.
Pre-Authorized Chequing
AnswerC.
Process-Authorized Chequing
D.
Pre-Authorized Checking
Answer: Option B
Solution
Answer: Option B
Solution:
Pre-Authorized Chequing is an authorization by the insured to allow the Insurance Company to automatically withdrawal their insurance payments from their chequing account.