Q41. RTGS is most suitable for transactions involving:
a) Low-value transfers
b) High-value transfers
c) Recurring payments
d) Microtransactions
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Correct Answer: b) High-value transfers
Explanation: RTGS (Real Time Gross Settlement) is suitable for high-value transfers requiring immediate processing and settlement.
Q42. IMPS provides the advantage of:
a) Slow processing times
b) Restricted transaction limits
c) Instantaneous fund transfers
d) Limited availability on weekends
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Correct Answer: c) Instantaneous fund transfers
Explanation: IMPS (Immediate Payment Service) offers instantaneous fund transfers, making it ideal for urgent transactions.
Q43. Which digital tool allows users to pay bills and manage finances using a mobile app?
a) PoS
b) e-Wallet
c) USSD
d) NEFT
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Correct Answer: b) e-Wallet
Explanation: An e-Wallet allows users to pay bills and manage finances using a mobile app, providing easy access to digital transactions.
Q44. USSD is particularly useful in areas with:
a) High-speed internet connectivity
b) Low internet connectivity
c) Access to advanced technology
d) Frequent power outages
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Correct Answer: b) Low internet connectivity
Explanation: USSD (Unstructured Supplementary Service Data) is useful in areas with low internet connectivity as it functions through text-based codes on mobile devices.
Q45. What does an e-Wallet commonly include?
a) Digital cash and payment cards
b) Physical gift cards
c) Real estate investments
d) Tax-related documents
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Correct Answer: a) Digital cash and payment cards
Explanation: An e-Wallet commonly includes digital cash and payment cards, allowing users to store and manage their payment information electronically.
Q46. What is the primary purpose of AEPS?
a) Online bill payments
b) Linking multiple bank accounts
c) Biometric-enabled transactions using Aadhaar
d) Managing credit card payments
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Correct Answer: c) Biometric-enabled transactions using Aadhaar
Explanation: AEPS (Aadhaar Enabled Payment System) allows biometric-enabled transactions using the Aadhaar number, providing secure access to financial services.
Q47. What does the acronym PoS stand for in retail transactions?
a) Point of Sale
b) Payment of Sale
c) Processing of Sales
d) Product of Sale
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Correct Answer: a) Point of Sale
Explanation: PoS (Point of Sale) refers to the hardware and software used to process retail transactions, including payment processing.
Q48. What type of transaction is typically processed through NEFT?
a) Immediate real-time transactions
b) High-value fund transfers
c) Batch-processed fund transfers
d) International transactions
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Correct Answer: c) Batch-processed fund transfers
Explanation: NEFT (National Electronic Fund Transfer) processes transactions in batches, with funds transferred in batches at regular intervals.
Q49. Which feature is associated with RTGS transactions?
a) Deferred processing
b) Real-time settlement
c) Batch processing
d) Transaction delays
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Correct Answer: b) Real-time settlement
Explanation: RTGS (Real Time Gross Settlement) provides real-time settlement of transactions, ensuring immediate processing and completion.
Q50. The primary benefit of IMPS is:
a) Limited transaction hours
b) Instant fund transfers
c) High-value transaction processing
d) Batch processing
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Correct Answer: b) Instant fund transfers
Explanation: IMPS (Immediate Payment Service) provides instant fund transfers, enabling users to transfer money quickly and efficiently.