33 - Debit Cards & Credit Cards

Banking Awareness Multiple Choice Questions (MCQs) and Answers with explanation on Debit Cards & Credit Cards for IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Bank

1. PIN stands for which of the following?

[A] Permanent Identity Number
[B] Portable Identification Number
[C] Permanent Identification Number
[D] Personal Identification Number

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2. UnionPay debit card is concerned with which among the following country?

[A] China
[B] Nepal
[C] Pakistan
[D] None of The Above

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3. Which among the following is correct?

[A] EFTPOS – Online Debit or PIN debit
[B] Offline Debit – Signature Debit
[C] Electronic Purse Card System – Electronic Debit Dealings
[D] All of The Above

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4. Credit Card is an essential component of which of the following?

[A] Electronic Commerce
[B] Internet Commerce
[C] Both 1 and 2
[D] None of The Above

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5. Credit Cards are a convenient substitute for which of the following?

[A] Cash
[B] Cheque
[C] Both 1 and 2
[D] None of The Above

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6. Which among the following benefits is associated with RuPay?

[A] International transactions lead to higher transactions costs. Such costs can be reduced by using RuPay
[B] Users will get alerts for every transaction made through RuPay Card
[C] Processing Fees for RuPay card compared with regular debit/credit cards will be considerably lower
[D] All of The Above

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7. Which of the following provides a unified “Kisan Card” issued by banks across the country under Kisan Credit Card, enabling farmers to transact business on ATMs and POS terminals?

[A] RuPay Card
[B] Maestro Card
[C] Forex Card
[D] None of The Above

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8. POS stands for which of the following?

[A] Point of Service
[B] Point of Sale
[C] Point of Satisfaction
[D] None of The Above

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9. RuPay debit card is similar to which of the following?

[A] Singapore’s NETS
[B] China’s UnionPay
[C] Both 1 and 2
[D] None of The Above

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10. Which of the following is also known as Prepaid Debit cards?

[A] Loadable Debit Cards
[B] Reloadable Debit Cards
[C] Relational Debit Cards
[D] None of The Above

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