Q41. What is a primary advantage of using UPI over traditional banking methods?
a) Higher transaction fees
b) Longer transaction times
c) Simplified and instant transactions
d) Limited accessibility
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Correct Answer: c) Simplified and instant transactions
Explanation: UPI (Unified Payment Interface) simplifies and accelerates transactions by allowing instant payments and transfers through a mobile app, enhancing user convenience.
Q42. What does a debit card provide that a credit card does not?
a) Credit limits for borrowing
b) Points for purchases
c) Direct deductions from the bank account
d) Rewards for spending
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Correct Answer: c) Direct deductions from the bank account
Explanation: Debit Cards deduct funds directly from the user’s bank account, unlike Credit Cards which provide a credit limit for borrowing and later repayment.
Q43. What is a common use of the USSD service in mobile banking?
a) Transferring large amounts of money
b) Performing simple transactions without internet
c) Creating a new bank account
d) Checking credit scores
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Correct Answer: b) Performing simple transactions without internet
Explanation: USSD (Unstructured Supplementary Service Data) allows users to perform basic transactions and access banking services without needing an internet connection.
Q44. Which payment system is known for its ability to handle immediate payments and confirmations?
a) NEFT
b) RTGS
c) USSD
d) IMPS
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Correct Answer: d) IMPS
Explanation: IMPS (Immediate Payment Service) is known for handling immediate payments and confirmations, allowing real-time transactions between accounts.
Q45. What does e-Governance aim to improve in government services?
a) Transaction fees
b) Physical infrastructure
c) Efficiency and accessibility
d) Physical document handling
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Correct Answer: c) Efficiency and accessibility
Explanation: e-Governance aims to improve the efficiency and accessibility of government services by leveraging technology to streamline processes and enhance user convenience.
Q46. What is a primary feature of a credit card?
a) Immediate deduction from the bank account
b) Rewards and cash-back offers
c) Requires pre-loading funds
d) Used for borrowing money up to a limit
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Correct Answer: d) Used for borrowing money up to a limit
Explanation: A Credit Card allows users to borrow money from the bank up to a set credit limit, which must be repaid within the billing cycle.
Q47. What is the primary function of a Point of Sale (PoS) system?
a) Managing online transactions
b) Processing payments at retail locations
c) Generating financial reports
d) Tracking mobile transactions
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Correct Answer: b) Processing payments at retail locations
Explanation: PoS (Point of Sale) systems are used to process payments at retail locations, including handling sales transactions and managing inventory.
Q48. How does the NEFT system process transactions?
a) In real-time
b) In batches at scheduled intervals
c) Instantly via SMS codes
d) Using biometric data
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Correct Answer: b) In batches at scheduled intervals
Explanation: NEFT (National Electronic Fund Transfer) processes transactions in batches at scheduled intervals, rather than in real-time.
Q49. Which e-Governance service helps in issuing passports?
a) e-Hospital
b) UMANG App
c) Passport Services
d) Railway Reservation
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Correct Answer: c) Passport Services
Explanation: Passport Services, as part of e-Governance, helps users apply for and manage passports online, streamlining the issuance process.
Q50. Which app provides access to multiple government services in India?
a) NEFT App
b) e-Hospital App
c) UMANG App
d) Railway Reservation App
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Correct Answer: c) UMANG App
Explanation: The UMANG (Unified Mobile Application for New-age Governance) app provides access to a wide range of government services from various departments on a single platform.