IIBF Digital Banking Mock Test 3 IIBF Digital Banking Mock Test 3 1 / 78 1. A dispute can raise in case of successful transaction a. No b. Yes 2 / 78 2. Which of the following is incorrect about UPI: Unified Payments Interface? a. UPI is an instant payment system that has been developed by the NPCI: National Payments Corporation of India b. All UPI payments are instant & take place within banking hours, through UPI c. Under UPI, a person will have a single identity and password for using multiple bank accounts d. UPI is based on the Immediate Payment Services (IMPS) infrastructure e. All of the above statements are correct 3 / 78 3. In RTGS, each message has to be assigned with a number and provided in the field Transaction Identification …… a. IFS no. b. UTR No. c. PAN No. d. MICR No. 4 / 78 4. To use the CDM, you need to necessarily have a. Bank debit card and IFSC code b. Bank Debit card OR IFSC Code c. Bank debit card and Account number d. Bank debit card OR Account number 5 / 78 5. LPG subsidy and MNREGA wages are distributed by making use of a. AEPS b. ABPS c. NACH Debit d. NFS 6 / 78 6. Mobile POS is a device that is a. Portable b. GPRS enabled c. Both a & b d. None of the above 7 / 78 7. The mobile app called BHIM supports which of the following accounts? a. Current A/C b. Savings Bank A/C c. Only Saving Account d. Both Current & Saving Bank A/C 8 / 78 8. Type of POS transaction in which merchant cancels the sale and returns the amount back before end of day (settlement) a. Sale b. Refund c. Cash Advance d. Void 9 / 78 9. What are the services of banking that are provided by e-Galleries or digital outlets provide these days? a. Bank Statement, Cash Deposit & Cash Withdrawal b. Instant A/C opening & Instant Loan approval c. Remote expert advisers that are available via video links d. All of the above options 10 / 78 10. The CIA principles should be observed when data are ________, at rest (in disk or backup) or in motion (being transmitted). a. Deleted b. Received c. Under process d. Sent 11 / 78 11. Artificial Intelligence actually deals with a. stored programs and data b. stored data c. Special devices with stored data d. Programs having access to knowledge databases 12 / 78 12. If a customer is able to get cash by transacting at a POS machine, what type of transaction is it called a. Cash Advance b. Cash back c. POS advance d. Advance Cash 13 / 78 13. Which of the following is incorrect about the National Electronic Funds Transfer (i.e., NEFT) system? a. There is no limit on the amount of transactions through NEFT b. National Electronic Funds Transfer operates in hourly batches c. National Electronic Funds Transfer is a payment system that facilitates 1-2-1 funds transfer d. Only bank branches that have the NEFT enabled can be a part of the NEFT funds transfer network e. All of the above options are correct 14 / 78 14. The firewall technology is used for which of the following purpose? a. safety of hardware b. to physical keep the items safe from fire c. to gain authorised access d. Protection of computer network from hackers intrusion 15 / 78 15. For the authentication of a Digital signature, which of the given keys are used? a. master & customer key b. private & public key c. private & customer key d. public & special key 16 / 78 16. Under ________ scheme, free debit cards are issued by banks for zero balance accounts. a. Pradhan Mantri Jan Dhan Yojana b. Pradhan Mantri Jeevan Jyoti Bima Yojana c. Pradhan Mantri Suraksha Bima Yojana d. Pradhan Mantri Mudra Yojana 17 / 78 17. 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 in a bigger computer 18 / 78 18. Under which electronic system, a company or a mutual fund can make dividend payments to a large no. of shareholders or unit-holders? a. Magnetic ink character recognition (MICR) b. truncation c. Debit Clearing d. Credit Clearing 19 / 78 19. In the context of ATMs, what does PIN stands for & how many digits does it consist of? a. Personal Information Number, 6 digits b. Personal Information Number, 4 digits c. Perfect Information Number, 6 digits d. Perfect Information Number, 4 digits 20 / 78 20. The process of safeguarding customer data is called for when what of the following is happening? a. Transmission of data b. Encryption or decryption of data c. Firewall Access d. Transmission of data & Encryption or decryption of data e. It is required all the times 21 / 78 21. What is the meaning of hot listing of credit cards? a. listing the card on more than 1 network b. reducing the limit in the credit card c. limit enhancement in the credit card d. blocking the operations of the credit card 22 / 78 22. Which are the most important considerations that are considered in building Digital Banking ecosystem? a. information security and customer preference b. Availability of Reserve Bank of India clearance and telecommunication c. young customers & Product basket d. Risk takers & safe players 23 / 78 23. Who provides the Final authorization (checking validity of card, sufficient funds etc) in POS transaction? a. The bank who is acquiring b. Issuing bank c. operator of card scheme d. Merchant himself 24 / 78 24. A mobile phone can 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 a printer attached by cable/wi-fi/bluetooth 25 / 78 25. In QSAM, what does Q stands for? a. Queue b. Query c. Quantity d. None of the given options 26 / 78 26. Which of the following mentioned is a feature of RuPay Card a. Aadhaar and Non-Aadhaar variant b. Magstripe/Chip c. Transaction can be done on ATM/Micro ATM/POS/Online d. All of the above 27 / 78 27. For what purpose does the firewall technology is used for? a. hardware safety b. physical safety from fire c. Protection of computer network from intrusion by hackers d. authorized access 28 / 78 28. What is the system called which permits > 1 user to access the computer system, simultaneously, through dumb terminals attached to the main system? a. multi-user system b. metro area network (MAN) c. single user system d. large area network 29 / 78 29. 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 30 / 78 30. MDR 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 31 / 78 31. Which of the below-given unit is used to measure the speed of the processor? a. megabytes (MB) b. megahertz (MHz) c. mega characters d. nano seconds 32 / 78 32. A bank led model which allows online financial inclusion transaction at Micro ATM through Business Correspondent of any bank using Aadhaar authentication is called a. AePS b. ABPS c. NACH Debit d. NFS 33 / 78 33. Facility usually used in Hotels where some amount of money from the customer’s account is blocked for certain time by the merchant is called a. Void Transaction b. Cash Advance c. Pre-authorization d. Refund 34 / 78 34. Through internet banking one can perform a. Remittance and Fund Transfer b. Shopping, phone recharge and bill payment c. Investment d. All of the above 35 / 78 35. Which of the following device is used to transfer data from the Central Processing Unit to other outside peripherals? a. Modem b. Printer c. Monitor d. Telephone 36 / 78 36. 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 37 / 78 37. _______ facilitates toll payments directly from the prepaid account linked to it. a. UPI b. BHIM c. NTFS d. NETS or NETC 38 / 78 38. What does DBT stand for? a. Disputes Bill Truncation b. Direct Bill Transfer c. Direct Benefit Transfer d. None of the above 39 / 78 39. What does mis-selling of Digital Banking Services means? a. Selling a wrong product b. Selling a right product by giving wrong information c. Selling a right product by giving incomplete information d. All of the above are included in mis-selling 40 / 78 40. An electronic way of doing authentic, real time KYC of a customer using Aadhaar authentication is a. NACH Debit b. ABPS c. AEPS d. E-KYC 41 / 78 41. Aman was transacting at an ATM and uses wrong pin. What kind of decline will it be? a. Technical decline b. Business decline c. failure of network d. None of the above options 42 / 78 42. What do you mean by Merchant Discount Rate? a. It is the discount provided by merchant to the customer b. It is the discount given by acquiring bank to Merchant c. the Amount that the merchant pays to the acquiring Bank for processing the payments on its behalf d. None of the above options 43 / 78 43. What is NACH Credit? a. It is used by an institution to afford credit to a large no. of beneficiaries b. It is single debt given to the sponsor bank’s account and multiple credits to different destination bank’s accounts c. Both a & b options d. Neither a nor b 44 / 78 44. For receiving money from a family member working in Punjab, the housewife in 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 BCA of a BC having one outlet in every village of Odisha d. One ATM card 45 / 78 45. What are the channels that are utilized for the marketing of Digital Banking services? a. Print, Television & Ratio b. Digital Marketing c. Social Media Marketing d. All of the above channels 46 / 78 46. What is the name of the entity that facilitates network b/w 2 different card banks as well as runs card program? a. Card Issuers b. Merchant Bankers c. Merchant Acquirers d. Card Schemes 47 / 78 47. The risk arising from fraud, error, negligence and inability to maintain expected service levels is called a. Strategic Risk b. None of the above c. Transaction Risk d. Compliance Risk 48 / 78 48. Bank that does tie-up with merchants and install POS terminals at their location is called a. Acquiring Bank b. Cardholder c. Issuing Bank d. Card scheme provider 49 / 78 49. How many times can a user enter incorrect PIN for a debit card transaction? a. Five times b. Three times c. Two times d. One time 50 / 78 50. Cloud computing service a. Gives people data on demand b. Gives people servers on demand c. Gives people program development on demand d. gives people security administration on demand 51 / 78 51. Which of the following statement is correct regarding card usage in POS terminal a. Chip cards are inserted and Magstripe cards are swiped b. Magstripe cards are inserted and Chip cards are swiped c. Both Chip and magstripe cards are inserted d. Both chip and magstripe cards are swiped 52 / 78 52. USSD offers a. Financial and Non-financial services b. Only non-financial services c. Financial, Non-financial and value added services d. None of the above 53 / 78 53. Chargeback comes into picture in a POS transaction in case a. The issuer disputes the transaction b. It is refunded by the merchant c. Cardholder disputes the transaction d. All of the above 54 / 78 54. What is the key factor that accounts for long term loyalty by customers in the Digital Banking space? a. Customer service b. positioning of products c. Reference by Friend d. Offers & Discount 55 / 78 55. By using QSAM service one can check their Aadhaar seeding status with their bank account by dialling a. *99# b. *999*9# c. *99*99# d. *999# 56 / 78 56. On Point of Sale, what of the following things can a merchant do? a. Merchant must indulge in a fraudulent activity b. Merchant must bring to the bank’s notice any fraudulent activities c. Merchant must not disclose the details of the card or cardholders to any 3rd party d. Merchant must impose any surcharge or extra charge 57 / 78 57. In POS segment Interchange is the fee charged by a. Issuer to acquirer b. Merchant to cardholder c. acquirer to issuer d. acquirer to merchant 58 / 78 58. Marketing of Digital banking services is to create awareness and_________ customer to adopt digital banking services a. Identifying b. Encouraging c. Supplying d. Classifying 59 / 78 59. __________, Mastercard and Visa have developed BharatQR. a. SBI b. NPCI c. RBI d. HDFC 60 / 78 60. What do you mean by firewall? a. It is a software which is specifically designed to damage, disrupt, or gain unauthorized access to a system b. It is a software programme for protecting against unauthorized access to the information c. It is a malicious software program which is loaded onto a user’s computer without the knowledge of user to perform malicious actions d. None of the above options 61 / 78 61. ATMs established by non-banking entities are called a. Blue Label ATM b. Green Label ATM c. White Label ATM d. Brown Label ATM 62 / 78 62. Which of the following parties are not included under the 3 Party Network model? a. Card Schemes b. Merchant Acquirer c. Cardholder or Merchants d. Issuer bank 63 / 78 63. Which one of the following affects the speed of the computer system? a. computer units’ physical size b. hard disks’ physical size c. microprocessor capacity d. monitors’ speed 64 / 78 64. Under CTS 2010 Standards issued by the Reserve Bank of India, the pantograph with hidden or embedded COPY / VOID features is to be included in the cheques. This feature should be clearly integrated into photocopies & scanned color images. What is the main objective of this scheme is? a. it works as a deterrent against color photocopy or scanned color images of a cheque b. it works as a deterrent against alterations of material nature c. it facilitates proper accounting d. all the above objectives 65 / 78 65. As per RBI guidelines, for wrongfully debited amount in ATM transaction, the bank has to auto-credit customers’ account within a. T+7 days b. T+ 3 days c. T+1 days d. T+5 days 66 / 78 66. A financial institution a. May at times ask for confidential information from its customers either on Phone or email b. Always ask for confidential information from its customers either on Phone or email c. never ask for confidential information from its customers either on Phone or email d. None of the above 67 / 78 67. NFC stands for _________ a. Near Field Communication b. Near Field Conversational c. Next Field Communication d. Near Fast Communication 68 / 78 68. In ATM transactions, refusals based on Hardware/ Software / Application /communication over the entire flow of transaction is called a. Terminal decline b. Transaction decline c. Technical decline d. Business decline 69 / 78 69. Which among the given is an interoperable transport card that is conceived by the Ministry of Urban Development along with the NPCI: National Payments Corporation of India? a. Unified Payment Interface b. Bharat Bill Payment System c. National Common Mobility Card d. None of the above options 70 / 78 70. As per RBI guidelines, for wrongfully debited amount, a customer has to complain with the issuing bank within a. 7 days of the failed ATM transaction b. 100 days of the failed ATM transaction c. 30 days of the failed ATM transaction d. 60 days of the failed ATM transaction 71 / 78 71. What are the frauds and other kinds of crimes are called by the name that happens on the internet network? a. Cyber crimes b. Electronic frauds c. Internet frauds d. Internet crimes 72 / 78 72. Hackers will fake websites of legitimate and existing organizations to deceive customer into thinking that they are interacting with legitimate company a. Spoofing b. Brand Spoofing c. Cyber mugging d. Spear phishing 73 / 78 73. For making FI (Financial Inclusion) products more useful, which of the methods need to be adopted? a. All services should be ported to mobile phones b. Govt should provide monetary benefits to help the customers so that they can transact c. All transactions should be cashless so that FI customers do everything themselves d. We must first study & understand what is earning, saving, expenditure, emergencies of the FI customer 74 / 78 74. A dispute can arise in case of a. Only successful transactions b. Only unsuccessful transactions c. Both successful and unsuccessful transactions d. Neither of the above 75 / 78 75. The process of stopping the physical movement of cheques from banks to clearing house is a. CTS b. ABPS c. AEPS d. E-KYC 76 / 78 76. During a POS transaction a merchant is to be funded by a. Cardholder b. Issuing Bank c. Acquiring Bank d. Card Scheme 77 / 78 77. Final authorization (checking validity of card, sufficient funds etc.) in card transaction is provided by a. Card Scheme operator b. Issuing Bank c. Merchant d. Acquiring bank 78 / 78 78. Which of the following cards is used to store credential data in an integrated circuit? a. Magnetic strip cards b. Non-EMV c. Chip or Smart card d. 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