ALL ANSWER ARE MENTIONED AT THE END
Q1. Credit Card is an essential component of which of the following?
(a)Internet Commerce
(b)Electronic Commerce
(c)Both A and B
(d)Only B
(e)Only A
Q2. Credit Cards are a convenient substitute for _____:
(a)Deposit
(b)Cash
(c)Cheque
(d)Both B and C
(e)None of these
Q3. RuPay debit card is similar to:
(a)Suitable Gift Card
(b)Convenience Gift Card
(c)Loadable Debit Cards
(d)Bank Gift Card
(e)None of The Above
Q4. The prepaid bank card is also called:
(a)Bank Gift Card
(b)Suitable Gift Card
(c)Singapore’s NETS
(d)Convenience Gift Card
(e)All of the above
Q5. The primary market for prepaid cards are_____people:
(a)Unbanked People
(b)Banked People
(c)Only A
(d)Only B
(e)Only A and B
Q6. What are the four different types of credit cards?
(a)Travel Rewards Credit Cards
(b)Cash Rewards Credit Cards
(c)Business Credit Cards.
(d)Balance Transfer Credit Cards.
(e)All of these
Q7. What is similarity between credit and debit card?
(a)Both are small and made of plastic
(b)Both require you to use a pin
(c)Both are paid when the bill arrives
(d)Both charges interest fees on unpaid balance
(e)All of the above
Q8. What is a plastic card that is electronically connect to the cardholder’s bank called?
(a)Credit Card
(b)Debit Card
(c)Account card
(d)Money card
(e)None of The Above
Q9. Which are you not able to do at an ATM machine?
(a)Transfer money
(b)Pay bill
(c)Check balance
(d)Withdraw money
(e)Only C and D
Q10. Using a debit card or credit card is faster than________.
(a)Writing a check
(b)Going to the ATM
(c)Buying the stamps
(d)Lender money
(e)None of The Above
Q11. A debit card gives you access to?
(a)The banks money
(b)Lender money
(c)Own money
(d)Your money
(e)Your account
Q12. With a debit card you have to have money in
(a)The bank
(b)Your wallet
(c)Your account
(d)Only A
(e)None of these
Q13. A credit card gives you access to
(a)The bank
(b)A lenders funds
(c)Your money
(d)Only B and C
(e)Only A
Q14. If you use a credit card you must pay the payment plus……..
(a)50 dollars extra
(b)Interest
(c)Nothing
(d)Check
(e)None of these
Q15. When starting with a debit card you should?
(a)Buy medium
(b)Buy big
(c)Start slowly with small purchases
(d)Start slowly with large purchases
(e)All of these
Solutions
S1.Ans(c)
Sol. Credit Card is an essential component of Internet Commerce, Electronic Commerce.
S2.Ans(d)
Sol. Credit Cards are a convenient substitute for Cash, Cheque.
S3.Ans(d)
Sol. RuPay debit card is similar to: Bank Gift Card.
S4.Ans(a)
Sol. The prepaid bank card is also called: Bank Gift Card.
S5.Ans(c)
Sol. The primary market for prepaid cards are Unbanked People.
S6.Ans(e)
Sol. There are several types of credit card that is
1.Travel Rewards Credit Cards
2.Cash Rewards Credit Cards
3.Balance Transfer Credit Cards
4.Business Credit Cards
5.Student Credit Cards
6.Secured Credit Cards
S7.Ans(e)
Sol. similarity between credit and debit card?
. Both are small and made of plastic
. Both require you to use a pin
. Both are paid when the bill arrives
. Both charges interest fees on unpaid balance
S8.Ans(a)
Sol. A debit card (also known as a bank card or check card) is a plastic card that provides the cardholder electronic access to his or her bank account at a financial institution.
S9.Ans(b)
Sol. Pay bill is not able to do at an ATM machine.
S10.Ans(a)
Sol. Using a debit card or credit card is faster than writing a check.
S11.Ans(d)
Sol. A debit card gives you access to Your money.
S12.Ans(c)
Sol. With a debit card you have to have money in Your account.
S13.Ans(b)
Sol. A credit card gives you access to a lenders funds.
S14.Ans(b)
Sol. If you use a credit card you must pay the payment plus Interest.
S15.Ans(c)
Sol. When starting with a debit card you should Start slowly with small purchases.