IIBF Digital Banking Mock Test 2 IIBF Digital Banking Mock Test 2 1 / 50 1. Mobile banking through USSD channel is available on handsets of type a. CDMA b. None of the above c. Both CDMA and GSM d. GSM 2 / 50 2. Key benefits of RuPay Pay Secure are: a. Security measures over and above 2 FA b. Authentication and Authorization in a single flow c. No need to remember the password d. All of the above 3 / 50 3. What banking services does e-Galleries provide a. Bank Statement, Cash Deposit and Cash Withdrawal b. Instant Account opening and Instant Loan approval c. Remote expert advisors available via video links d. All of the above 4 / 50 4. NFC stands for a. Near field contact technology b. Nano frequency communication c. None of the above d. Near Field Communication 5 / 50 5. LPG subsidy and MNREGA wages are disbursed by making use of a. NACH Debit b. Aadhaar payment bridge system (APBS) c. Aadhaar enabled payment system (AEPS) d. National Financial Switch (NFS) 6 / 50 6. Cloud computing Service a. gives people data on demand b. gives people servers on demand c. gives people program development on demand d. security administration on demand 7 / 50 7. Lite coin is a. a copy of bitcoin b. a fork of bitcoin c. a crypto currency that replaces bitcoin d. a currency created to trade bitcoin 8 / 50 8. Mis-selling of Digital Banking Services means a. Selling wrong product b. Selling right product with wrong information c. Selling right product with incomplete information d. All of the above 9 / 50 9. The FI accounts are not used much by customers because a. They are afraid of getting cheated in a bank b. They see not much value in transacting them c. Their needs are better met by local agents, who are much more helpful and available d. Banks will monitor their accounts and ask them for unnecessary explanations. 10 / 50 10. Data Lake will be a. big volume of uncurated data b. data warehouse unsorted c. data not fit for data mart d. data of current and previous versions together 11 / 50 11. The Process of stopping the physical movement of cheques from Banks to clearing house. a. Cheque truncation system (CTS) b. Aadhaar payment bridge system (APBS) c. Aadhaar enabled payment system (AEPS) d. e-KYC 12 / 50 12. Card scheme rules specifying the rights and obligations of each card scheme operator, the merchant acquirer and card issuer respectively is prepared by a. Card scheme operator b. Issuing Bank c. Acquiring Bank d. Merchant 13 / 50 13. A bank led model which allows online financial inclusion transaction at Micro-ATM through the Business correspondent of any bank using the Aadhaar authentication is called a. NACH Debit b. Aadhaar payment bridge system (APBS) c. Aadhaar enabled payment system (AEPS) d. National Financial Switch (NFS) 14 / 50 14. Virtual Machine means a. a theoretical representation of a machine for easy understanding b. a computer replication by a special software c. a software package mimicking functions of a computer d. a very small computer stored in a bigger computer 15 / 50 15. During a POS transaction the merchant is to be funded by a. Cardholder b. The issuing Bank c. The acquiring Bank d. The card scheme operator 16 / 50 16. In POS segment Interchange is the fee charged by a. Issuer to the acquirer b. Merchant to the cardholder c. Card scheme operator to acquirer d. Acquirer to merchant 17 / 50 17. Final authorization (checking validity of card, sufficient funds etc.) in POS transaction is provided by a. Acquiring bank b. Issuing bank c. Card scheme operator d. Merchant 18 / 50 18. Which of the below mentioned is a feature of RuPay Insurance program a. Type of Cover: Death due to Personal Accident and Permanent Disability b. Accidental Death: Cover of Rs. 1 lakh (Non-Premium) and Rs. 2 Lakh (Premium) in case of loss of life due to accident c. Permanent Disability: Cover of Rs. 1 lakh (Non-Premium) and Rs. 2 Lakh (Premium) in case of permanent disability due to accident d. All of the above 19 / 50 19. Which of the below mentioned is a feature of RuPay card a. Magstripe/CHIP b. Aadhaar and Non-Aadhaar variants c. Transaction can be done at ATM/Micro ATM/PoS/Online d. All of the above 20 / 50 20. Merchant Discount Rate is a. Discount provided by merchant to the customer b. Discount given by acquiring bank to Merchant c. Amount the merchant pays to Acquiring Bank for processing payments on its behalf d. None of the above 21 / 50 21. USSD stands for a. Unstructured Supplementary Service Data b. Unified Supplementary Service Data c. Unstructured Supplementary Software Data d. Unified Supplementary Software Data 22 / 50 22. A mobile phone may be used as a POS for FI, if it is a. Not NFC enabled but always online b. Storing all customer details and not NFC enabled c. A Smartphone having mobile App as also NFC d. Having printer attached by cable/wi-fi/bluetooth 23 / 50 23. NACH Debit is a. Used by an institution for pulling funds from large number of payers across multiple banks b. Multiple debits to different destination bank account and a corresponding single credit to Sponsor bank account c. Both a and b d. Only b 24 / 50 24. The POS can work with a. A smart card and a magstripe card but not a Memory Card b. At least PSTN connection or Wi-Fi connection always on c. The operator card and customer card both dipped only d. Or without an encryption 25 / 50 25. Crypto currencies are a. very rare to get mined b. accepted only from the miner who mines first c. answers to difficult mathematical problems d. generated by very good programmers only 26 / 50 26. Marketing of Digital Banking services is to create awareness and customer to adopt digital banking services a. Identifying b. Encouraging c. Supplying d. Classifying 27 / 50 27. The accounts opened for FI are a. actually opened in FI middleware of vendor first and then CBS b. first in CBS and then in vendor middleware c. opened in CBS, and not in vendor middleware d. opened in the POS first and other places during the first transaction 28 / 50 28. APBS (Aadhaar Payment Bridge System) a. Single debit to the sponsor bank's account and multiple credits to different destination banks’ account b. Multiple debits to different destination bank account and a corresponding single credit to Sponsor bank account c. Used by an institution for disbursement of subsidies/government benefits to a large number of beneficiaries d. Both a and c 29 / 50 29. Chargeback comes into picture in a POS transaction in case a. The issuer disputes the transaction b. The cardholder disputes the transaction c. It is refunded by the merchant d. All of the above 30 / 50 30. Marketing of Financial Inclusion is the prime responsibility of a. Government of India b. Banks c. Other Non-Banking Entities like IBA, NPCI d. All of the above 31 / 50 31. The internet based FI application uses fingerprint of customer, a. Stored in the smart card b. Stored in the PC with the BCA c. Stored in the BC middleware server d. Stored in core banking 32 / 50 32. What are the channels used for marketing of Digital Banking services? a. Television, Print and Radio b. Digital Marketing c. Social Media Marketing d. All of the above 33 / 50 33. Which is not a session based communication a. SMS based banking b. USSD based banking c. App based banking d. Internet banking 34 / 50 34. NACH Credit is a. Used by an institution for affording credit to a large number of beneficiaries b. Single debit to the sponsor bank’s account and multiple credits to different destination banks’ account c. Both a and b d. Only a 35 / 50 35. The Value added service provided by USSD is called a. QSAM b. NUUP c. IMPS d. TSP 36 / 50 36. Cell phone is useful for FI because a. It is used by rich and poor everybody b. It can carry voice, message, screens, texts wirelessly and has software and a keyboard for response c. It helps informing the payee about money deposited by SMS or voice call or WhatsApp d. We can replace a lost phone at low cost and recover all its data easily from a backup with the network provider 37 / 50 37. The order of various stages in a transaction lifecycle is a. Transaction Authorization – settlement – Clearing b. Settlement – Transaction Authorization – Clearing c. Transaction Authorization – Clearing – Settlement d. Clearing – Settlement – Transaction Authorization 38 / 50 38. Fintechs create their solutions by building on a. Shorter form of core banking b. Remittance software c. A small part of financial transaction activities d. RBI guidelines 39 / 50 39. An electronic way of doing authentic, real time KYC of a customer using Aadhaar authentication a. NACH Debit b. Aadhaar payment bridge system (APBS) c. Aadhaar enabled payment system (AEPS) d. e-KYC 40 / 50 40. IoT will help banking by a. communication among furniture b. communication among devices c. enhancing digital image d. communication among terminals 41 / 50 41. For receiving money from a family member working in fields in Punjab, the housewife in an Odisha village may not need a. One BSBDA account in a local bank b. One cell phone number and an MMT enabled ATM available nearby c. An outlet of a BCA of a BC having one outlet in every village of Odisha d. One ATM card 42 / 50 42. Machine Learning is a. machines with educational tools b. capability development for unprogrammed actions c. capability of learning machine developments d. learning of machine operation manuals by computers 43 / 50 43. Financial Inclusion will happen if a. There is a bank branch in every village b. Every villager is given a smart card, and there is a BC in a village c. BCs are selected from the same village d. Banking products are accessible and affordable everywhere 44 / 50 44. ATM transaction with biometric validation is used because a. It is more secure than a PIN and needs little learning b. It is easier to reject fraud claims for bank with biometric c. Fl customer has good fingerprint quality but may not remember PIN d. A secure PIN needs 8 digits like OTP But ATM technology can not manage it. 45 / 50 45. Fintechs often, a. expand by mergers b. expand to unconnected business lines with same logic c. trade customer base data d. monetise customer base 46 / 50 46. Offline authorization is an option available with a. NFC enable cards b. EMV enabled cards c. Mag stripe cards d. NFC and EMV card 47 / 50 47. For making FI products more useful a. All services are to be ported to mobile phones b. Govt. should provide monetary benefits to help the customers have money to transact c. All transactions should be cashless only to help the FI customers do everything themselves d. We must study and understand earning, saving, expenditure, emergencies of the FI customer first 48 / 50 48. Which is not a drawback related to SMS based mobile banking [Choose Two Correct Options] a. SMS remains as SMS format in the phone which can be a threat b. The customer can choose option from a menu received from service provider in the form of SMS c. SMS channel is fully encrypted d. Customer needs to know the exact syntax for transaction 49 / 50 49. Marketing of Financial Inclusion services is used for a. Reaching out the rural customers only b. Reaching out the urban customers only c. Reaching out both urban and rural customer d. None of the above 50 / 50 50. Artificial Intelligence actually deals with a. stored programmes and data b. stored data c. special devices with stored data d. programmes having access to knowledge databases Your score is 0% Restart quiz
