Practice test

It trends and technology - Test Set 1

Review 20 exam-focused questions with detailed explanations, then start the interactive test when you are ready.

20 questions

Questions and explanations

  1. Question 1

    Which of the following is not a feature of UPI?
    1. Peer-to-peer Money Transfer
    2. Direct debit from a credit card
    3. Bill payments
    4. Linking multiple bank accounts in one app
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  2. Question 2

    Which organisation developed and manages the UPI system in India?
    1. National Payments Corporation of India (NPCI)
    2. Reserve Bank of India (RBI)
    3. Indian Banks' Association (IBA)
    4. Securities and Exchange Board of India (SEBI)
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  3. Question 3

    What does the term VPA stand for in the context of UPI transactions?
    1. Virtual Payment Account
    2. Verified Payment Address
    3. Virtual Private Account
    4. Virtual Payment Address
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  4. Question 4

    Which of the following actions cannot be performed using UPI?
    1. Applying for a loan directly through UPI
    2. Making online purchases
    3. Paying utility bills
    4. Requesting money from another user
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  5. Question 5

    What is the primary advantage of internet banking?
    1. Convenience of 24/7 access to services
    2. Physical access to a bank branch
    3. Lower transaction fees
    4. Limited number of transactions
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  6. Question 6

    Net banking is also known as
    1. e-transfer
    2. e-banking
    3. e-process
    4. e-commerce
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  7. Question 7

    Which of the following is a common feature of internet banking?
    1. Applying for a new passport
    2. Performing physical cash withdrawals
    3. Verifying identity documents in person
    4. Managing multiple bank accounts online
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  8. Question 8

    What is the most secure method of logging into an internet banking portal?
    1. Using a username and password
    2. Using only your email ID
    3. Using two-factor authentication (2FA)
    4. Using a PIN number only
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  9. Question 9

    What is the full form of NEFT with reference to e-banking services?
    1. National Electronic Funds Transformation
    2. Native Electronic Funds Transfer
    3. National Electronic Funds Transfer
    4. National Elementary Funds Transfer
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  10. Question 10

    Which of the following statements about internet banking is false?
    1. You can transfer funds to other accounts via NEFT or RTGS.
    2. Internet banking allows online fixed deposit creation.
    3. You can pay utility bills through internet banking.
    4. Internet banking requires a physical token for every transaction.
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  11. Question 11

    Which of the following is a risk associated with internet banking?
    1. Exposure to phishing attacks
    2. High transaction fees
    3. Limited banking services
    4. Lack of customer support
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  12. Question 12

    Which banking service cannot be performed using internet banking?
    1. Checking account balance
    2. Cash deposit
    3. Fund transfer
    4. Bill payments
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  13. Question 13

    Which of the following is required to access internet banking?
    1. A bank account in a foreign country
    2. Physical access to a bank branch
    3. Paper checks
    4. Internet connection and login credentials
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  14. Question 14

    Which of the following is commonly used for secure online transactions in internet banking?
    1. OTP (One-Time Password)
    2. CAPTCHA only
    3. Username only
    4. CAPTCHA
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  15. Question 15

    What is the typical role of an IFSC code in internet banking?
    1. It identifies an individual’s mobile number.
    2. It verifies the identity of the account holder.
    3. It identifies a specific bank branch for electronic fund transfers.
    4. It is used for email communications between banks.
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  16. Question 16

    Which type of banking transaction can you typically not perform through internet banking?
    1. Downloading account statements
    2. Opening a savings account
    3. Opening a recurring deposit
    4. Applying for a debit card replacement in person
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  17. Question 17

    What is the full form of IMPS with reference to e-banking services?
    1. Immediate Paid Service
    2. Immediate Payment Solution
    3. Immediate Payment Service
    4. Instant Payment Service
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  18. Question 18

    What is an e-wallet?
    1. A digital system that stores users payment information for transactions
    2. A mobile app for social media networking
    3. A physical wallet with digital features
    4. A software for online banking
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  19. Question 19

    Which of the following is a popular e-wallet service?
    1. Google Drive
    2. PayPal
    3. Microsoft Word
    4. Skype
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  20. Question 20

    What is the primary benefit of using an e-wallet?
    1. Higher interest rates on savings
    2. Ability to withdraw cash from ATMs
    3. Free access to premium content
    4. Secure, quick, and convenient online payments
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