Q31. Which tool is designed for transactions without internet access?
a) USSD
b) UPI
c) e-Wallet
d) RTGS
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Correct Answer: a) USSD
Explanation: USSD (Unstructured Supplementary Service Data) enables transactions and access to banking services via mobile networks without requiring an internet connection.
Q32. What is a common use of e-Wallets in online shopping?
a) Storing payment information securely for transactions
b) Generating physical bank statements
c) Conducting face-to-face transactions
d) Managing offline investments
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Correct Answer: a) Storing payment information securely for transactions
Explanation: e-Wallets are commonly used in online shopping to securely store payment information, making transactions easier and faster without needing to re-enter details each time.
Q33. What does the term “e-Governance” refer to?
a) The use of digital tools and technologies to manage and deliver government services
b) Physical government office operations
c) Traditional mail-based government services
d) Manual record-keeping in government offices
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Correct Answer: a) The use of digital tools and technologies to manage and deliver government services
Q34. What is the main benefit of using UPI for transactions compared to traditional methods?
a) Faster and more convenient transactions
b) Higher transaction fees
c) Limited to specific bank accounts
d) Requires manual paperwork
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Correct Answer: a) Faster and more convenient transactions
Explanation: UPI offers faster and more convenient transactions by integrating multiple bank accounts into a single platform, reducing the need for manual paperwork and providing quick processing.
Q35. What role does an ISP play in internet connectivity?
a) Provides access to the internet
b) Creates digital financial tools
c) Manages social networking platforms
d) Generates QR codes
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Correct Answer: a) Provides access to the internet
Explanation: An ISP (Internet Service Provider) provides access to the internet by offering various connectivity options such as broadband, fiber, and mobile data services.
Q36. What does a digital locker offer?
a) A secure place to store and manage digital documents and certificates
b) A physical storage space for files
c) A banking service for high-value transactions
d) A method for converting physical cash to digital currency
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Correct Answer: a) A secure place to store and manage digital documents and certificates
Explanation: A digital locker provides a secure online space for storing and managing digital documents and certificates, ensuring easy access and protection from loss or theft.
Q37. How does the PoS system benefit retail transactions?
a) By processing payments electronically at the point of sale
b) By managing inventory levels
c) By generating marketing reports
d) By handling offline transactions only
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Correct Answer: a) By processing payments electronically at the point of sale
Explanation: The PoS (Point of Sale) system benefits retail transactions by processing payments electronically at the checkout, streamlining the payment process and improving efficiency.
Q38. What does the acronym QR stand for in QR Code?
a) Quick Response
b) Quality Rate
c) Quick Record
d) Questionable Response
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Correct Answer: a) Quick Response
Explanation: QR stands for Quick Response, indicating the ability of QR Codes to provide rapid access to information or facilitate transactions when scanned with a compatible device.
Q39. Which payment method uses mobile networks but not the internet?
a) USSD
b) UPI
c) NEFT
d) e-Wallet
Show Answer
Correct Answer: a) USSD
Explanation: USSD (Unstructured Supplementary Service Data) allows transactions and banking services through mobile networks without requiring an internet connection.
Q40. What does the term “Digital Financial Tools” encompass?
a) Tools and systems used for managing and conducting digital transactions
b) Physical banking instruments
c) Traditional cash management systems
d) Manual transaction records
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Correct Answer: a) Tools and systems used for managing and conducting digital transactions
Explanation: Digital Financial Tools refer to various tools and systems used to manage and conduct transactions electronically, including e-Wallets, UPI, and internet banking services.