We revisit parasupersymmetric quantum mechanics of arbitrary order and present a set of nontrivial relations, which characterizes the most general multilinear part of the associated parasupersymmetric algebra. We then show that the formulation of multilinear relations leads immediately to a polynomial of parasupersymmetric Hamiltonian in terms of the corresponding parasupercharges. The deduction of higher derivative supersymmetric quantum mechanics directly via this parasupersymmetric formulation is discussed. The complete degenerate structure of the energy spectrum for parasupersymmetric quantum mechanics of order p is systematically analyzed. Finally, the notion of cyclic symmetry is introduced and the algebra of cyclic charge operators of arbitrary order is developed, based on the parasupersymmetric formalism.
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