Credit & Debit Card MCQ
Q.136. What is a credit card? A plastic card which
a. Containsidentificationinformation
b. Authorisesnamedperson to chargepurchases/services
c. Charges for which person will be billed periodically
d. Allabove
Q.137. Identification informations on credit card can be read by?
a) ATMs
b) Pointof Sales Terminals
c) Both(a) +(b)
d) Branch Manager
Q.138. The concept behind a credit card is -
a. Usenow, debit later
b. Buy now, pay later ,
c. Pay now, get credit later
(d) Lend now and do not reimburse
Q.139. Which are the main issuers of credit cards in the world and in India?
(a) Visaand Master Card
(b) Amexand Intenational (c) RTGSand NSS
(d) Visa, Master and Amex cards
Q.140. Features of credit card is/are
(a) Key to opening of bank accounts for daily payments
(b) Substitute of cash
(c) Issuingbank/financialinstitutionknowsthecreditworthnewofcustomer
d) Allabove
Q.141. Credit card has the benefit to bank, its advantages are
a. Increase the credit and its reputation with public
b. Growth of interest income
c. Earns commissionfrombusiness establishment
d. Allabove
Q.142. What are the advantage of card holder?
a) Sanctionofcreditlimitbybank
b) Outstandingoverdraftofperiodbetween 25 to 27days
c) Doesnotrequirecashcarryinganditsriskofloss
d) Both(a)+(b)
Q.143. Discuss the types of credit cards in India
a) ChargeCard/Smart Card/Restructuedcard/ATMcard/Kissancreditcard
b) Debitcard/chip card/Member card/whitelabel card
(c) Both (a) and (b)
(d) None of above
Q.144. The difference between credit and debit cards is
g) Accountgetsdebitedonuseofcreditcardimmediately
h) Accountgetsdebitedonuse, ofdebitcardimmediately
i) Accountdoesnotgetsdebitedimmediatelyonuseofdebitcard
j) Noneofabove
Q.145. From credit card, credit risk to the bank is high from
k) Creditcardholder
l) Debitcardholder
m)Both(a) and(b)
n) Noneofabove
Q.146. The bank which pays the merchant for the transactions is called
o) Issuerbank
p) Clearingbank
q) Acquirerbank
r) Noneofabove
Q.147. Name the credit card wherein transactions by the cardholders are accumulated over a month, is called
s) Smart Card
t) ChargeCard
u) Member Card
v) Chip Card
Q.148. What is the difference between a credit and charge card? In charge card requirements are -
w) Amountbecomespayableondebittoaccount
x) ChargeCardholderwouldwarrant,aaccountinconcernedbank
y) Both(a)+(b)
z) Anyof(a) and(b)
Q.149. What is Debit card?
aa)Itisamobilepurse
bb) Automaticallydebitscardholder'saccount
cc)Allowswithdrawaluptocreditbalanceintheaccount dd) All above
Q.150. Difference between Debit and cards are there. Credit cards are superior to debit cards in - ee) Higherborrowingpoweronthebankuptoyourcreditworthiness
ff) Biggersocialstatussinceoneavailscredit gg)Both(a)+(b)
hh) Only(a)
Q.151. Are three advantage of credit card to the member establishment?
Increase in sales due to increased purchasing power of card holders
ii) Nodirectcredittocustomers/systematicaccounting
jj) Noadvertisingandpromotionalactivitiesrequired/assuredandimmediatesettlementpayments kk)Allabove
ll) Only(a)+(b)
Q.152. Whichplasticcardshasgottheadvantagesofgivingcashbackonpurchasesanddiscountsatretailoutlets?
mm)Debitcard nn) Creditcard oo) Both(a)+(b) pp) ATMcard
Q.153. Payments of credit cards is done by banks under
qq) RTGS
rr) ECS
ss) CBS tt) None
Q.154. Out of Debit and Credit Cards which are is more attractive to a customer for availing facilities of-No charges/No service tax/replaces ATM card
uu) Debitcard vv)Creditcard ww) ATMcard xx)Smartcard
Q.155. What are the requirement for Debit Cards by RBI?
yy)Barredfromtyingupwithnobankentitiestowithdrawcash/makedeposits zz) Monitoringof SLR/CRRoncreationofdepositsthroughcards
aaa) Both(a)+(b) bbb) None of above
Q.156. Salient features of credit cards are -
ccc) Accepted globally through affiliation with visa/master/amex cards/ issued with credit/up to upper limit/regular billing cycle and billing date/personalaccidentinsurancecoveravailabletocustomer
ddd) Rewards points are awarded for card holder having classes of silver/gold/platinum/titanium/reward points are redeemable/ cash book offer between 2% to 10% but under a ceiling/add on facility available/liability for card holder in case of loss of cards limited to 1000andthebalance by misusancecompanyonlinepurchasespossiblethrougheverytimenewpassword
eee) Both(a)+(b)
fff)Somefeatures..of (a) and some of (b) only
Q.157. In the account opening form for issue of credit card, when the customer is already credit cardholder with other institution, what details and outstanding balance declaration are required?
ggg) Optional-detailsofothercreditcardsandoutstandingbalancestherein hhh) Compulsory-detailsofothercreditcardsandoutstandingbalancesthereis-
iii) Companydetailsofthecreditcardsbutoutstandingbalance, optimal jjj) Optimal-details of other credit cards
Q.158. Nomination details, after the death of cardholder are required to be given, while submitting credit card application form. This is essential for purpose of?
kkk) Topaycreditcardduesbynominee lll) Togetinsurancecoverasnominee
mmm) Toreimburselossbyinsurancecompanyafterthelossofcard, asnominee nnn)Notrequired
Q.159. Variousparametersarejudgedbythecardissuerforhighercreditcardscoring. Namesuchparameters
a) Agebetween 31-45 years/professionalorpostgraduate/servingingovernmentorganisationor PSU/selfemployedorowner/ lengthofservice 5 yrs. and aboveinprofessionorbusiness
b) Lessernumberofdependents/selfownedhouse/selfedownedcar/incomeupto 2 Iakhsyearly/spouseincomebelow 5 lakhs/no card holder earlier
c) Integrity/character/conductsatisfactorybankexperiencedepositupto 1Iakhwithbank/bankingwithbankupto 6 months/owningtwowheelers/residingin
rentedhouse
d) Applicationbetween 45-
49years/everundergraduate/servingwithpublicLtd./Lengthofservicebetweenlyr.to2years/happyfamilyof5persons
Q.160.Ordinarilythereareonlytwokindsofcards(plasticmoney)viz.Creditcardsanddebitcards.Itthereisanyothercardtobegivenasgiftandissuedby corporates?
ooo) Smart Card
ppp) Pre Loaded Cards qqq) Prepaid Cards rrr) Both(b) (c)
Q.161. Creditcardsissuedbybanks, toawardcashbackpointsis/arecalled
sss) Titanium/Platinum/Gold/Silver Card ttt)Platinum/Gold/Silver Card'
uuu) Platinum/Gold Card
vvv) Goldand Silver Card
Q.162. Payments default risk is embedded in which type of cards?
www) Debitcard
xxx) Creditcard yyy) Both(a)+(b)
zzz) None
Q.163. Banks charges levied for which kind of services on the card holders are - aaaa) Financecharges, wherepartamountpaidofthetotalpayment
bbbb) Minimum amount due means one debits/previous unpaid payments and other charges cccc) Annualised percentage rate-monthly interest when annualised
dddd) Only (b) + (c)
eeee) All (a) to (c)
Q.164. What is meant by other charges levied by banks to card holders?
(a) Cash advance transaction fees/card replacement (lost, reissue) charges
(b) Overdue penalty-late payment fee-over limit penalty/cheque dishonour fees
(c) Both (a) + (b)
(d) Card replacement/overdue penalty/over limit penalty only
Q.165. Forex cards are issued by banks to substitute-
a) Foreign currency notes
b) Travellers cheques
c) Indian currency Notes
d) Both (a) + (b)
Q.166. Demerits of Credit Cards are -
a) High membership fees and annual fees
b) High rate of interest for delayed payments and extension of time
c) (C) Tempt the cardholders for add-on members
d) Both (a) + (b)
Q.167. Demerits to issuers of credit cards
a. High cost of local made plastic card
b. High cost of imported plastic card/maketing cost
c. High cost of credit checks on applicants
d. Both (a) + (c)
e. Both (b) + (c)
Q.168. Default rate in credit cards has gone up high in recent due to-
(a) Use of debit card
(b) Use of Amex card
(c) Non utilisation or under utilisation of credit card
(d) Both (b) + (c)
(e) Use of multiple credit cards
a. Containsidentificationinformation
b. Authorisesnamedperson to chargepurchases/services
c. Charges for which person will be billed periodically
d. Allabove
Q.137. Identification informations on credit card can be read by?
a) ATMs
b) Pointof Sales Terminals
c) Both(a) +(b)
d) Branch Manager
Q.138. The concept behind a credit card is -
a. Usenow, debit later
b. Buy now, pay later ,
c. Pay now, get credit later
(d) Lend now and do not reimburse
Q.139. Which are the main issuers of credit cards in the world and in India?
(a) Visaand Master Card
(b) Amexand Intenational (c) RTGSand NSS
(d) Visa, Master and Amex cards
Q.140. Features of credit card is/are
(a) Key to opening of bank accounts for daily payments
(b) Substitute of cash
(c) Issuingbank/financialinstitutionknowsthecreditworthnewofcustomer
d) Allabove
Q.141. Credit card has the benefit to bank, its advantages are
a. Increase the credit and its reputation with public
b. Growth of interest income
c. Earns commissionfrombusiness establishment
d. Allabove
Q.142. What are the advantage of card holder?
a) Sanctionofcreditlimitbybank
b) Outstandingoverdraftofperiodbetween 25 to 27days
c) Doesnotrequirecashcarryinganditsriskofloss
d) Both(a)+(b)
Q.143. Discuss the types of credit cards in India
a) ChargeCard/Smart Card/Restructuedcard/ATMcard/Kissancreditcard
b) Debitcard/chip card/Member card/whitelabel card
(c) Both (a) and (b)
(d) None of above
Q.144. The difference between credit and debit cards is
g) Accountgetsdebitedonuseofcreditcardimmediately
h) Accountgetsdebitedonuse, ofdebitcardimmediately
i) Accountdoesnotgetsdebitedimmediatelyonuseofdebitcard
j) Noneofabove
Q.145. From credit card, credit risk to the bank is high from
k) Creditcardholder
l) Debitcardholder
m)Both(a) and(b)
n) Noneofabove
Q.146. The bank which pays the merchant for the transactions is called
o) Issuerbank
p) Clearingbank
q) Acquirerbank
r) Noneofabove
Q.147. Name the credit card wherein transactions by the cardholders are accumulated over a month, is called
s) Smart Card
t) ChargeCard
u) Member Card
v) Chip Card
Q.148. What is the difference between a credit and charge card? In charge card requirements are -
w) Amountbecomespayableondebittoaccount
x) ChargeCardholderwouldwarrant,aaccountinconcernedbank
y) Both(a)+(b)
z) Anyof(a) and(b)
Q.149. What is Debit card?
aa)Itisamobilepurse
bb) Automaticallydebitscardholder'saccount
cc)Allowswithdrawaluptocreditbalanceintheaccount dd) All above
Q.150. Difference between Debit and cards are there. Credit cards are superior to debit cards in - ee) Higherborrowingpoweronthebankuptoyourcreditworthiness
ff) Biggersocialstatussinceoneavailscredit gg)Both(a)+(b)
hh) Only(a)
Q.151. Are three advantage of credit card to the member establishment?
Increase in sales due to increased purchasing power of card holders
ii) Nodirectcredittocustomers/systematicaccounting
jj) Noadvertisingandpromotionalactivitiesrequired/assuredandimmediatesettlementpayments kk)Allabove
ll) Only(a)+(b)
Q.152. Whichplasticcardshasgottheadvantagesofgivingcashbackonpurchasesanddiscountsatretailoutlets?
mm)Debitcard nn) Creditcard oo) Both(a)+(b) pp) ATMcard
Q.153. Payments of credit cards is done by banks under
qq) RTGS
rr) ECS
ss) CBS tt) None
Q.154. Out of Debit and Credit Cards which are is more attractive to a customer for availing facilities of-No charges/No service tax/replaces ATM card
uu) Debitcard vv)Creditcard ww) ATMcard xx)Smartcard
Q.155. What are the requirement for Debit Cards by RBI?
yy)Barredfromtyingupwithnobankentitiestowithdrawcash/makedeposits zz) Monitoringof SLR/CRRoncreationofdepositsthroughcards
aaa) Both(a)+(b) bbb) None of above
Q.156. Salient features of credit cards are -
ccc) Accepted globally through affiliation with visa/master/amex cards/ issued with credit/up to upper limit/regular billing cycle and billing date/personalaccidentinsurancecoveravailabletocustomer
ddd) Rewards points are awarded for card holder having classes of silver/gold/platinum/titanium/reward points are redeemable/ cash book offer between 2% to 10% but under a ceiling/add on facility available/liability for card holder in case of loss of cards limited to 1000andthebalance by misusancecompanyonlinepurchasespossiblethrougheverytimenewpassword
eee) Both(a)+(b)
fff)Somefeatures..of (a) and some of (b) only
Q.157. In the account opening form for issue of credit card, when the customer is already credit cardholder with other institution, what details and outstanding balance declaration are required?
ggg) Optional-detailsofothercreditcardsandoutstandingbalancestherein hhh) Compulsory-detailsofothercreditcardsandoutstandingbalancesthereis-
iii) Companydetailsofthecreditcardsbutoutstandingbalance, optimal jjj) Optimal-details of other credit cards
Q.158. Nomination details, after the death of cardholder are required to be given, while submitting credit card application form. This is essential for purpose of?
kkk) Topaycreditcardduesbynominee lll) Togetinsurancecoverasnominee
mmm) Toreimburselossbyinsurancecompanyafterthelossofcard, asnominee nnn)Notrequired
Q.159. Variousparametersarejudgedbythecardissuerforhighercreditcardscoring. Namesuchparameters
a) Agebetween 31-45 years/professionalorpostgraduate/servingingovernmentorganisationor PSU/selfemployedorowner/ lengthofservice 5 yrs. and aboveinprofessionorbusiness
b) Lessernumberofdependents/selfownedhouse/selfedownedcar/incomeupto 2 Iakhsyearly/spouseincomebelow 5 lakhs/no card holder earlier
c) Integrity/character/conductsatisfactorybankexperiencedepositupto 1Iakhwithbank/bankingwithbankupto 6 months/owningtwowheelers/residingin
rentedhouse
d) Applicationbetween 45-
49years/everundergraduate/servingwithpublicLtd./Lengthofservicebetweenlyr.to2years/happyfamilyof5persons
Q.160.Ordinarilythereareonlytwokindsofcards(plasticmoney)viz.Creditcardsanddebitcards.Itthereisanyothercardtobegivenasgiftandissuedby corporates?
ooo) Smart Card
ppp) Pre Loaded Cards qqq) Prepaid Cards rrr) Both(b) (c)
Q.161. Creditcardsissuedbybanks, toawardcashbackpointsis/arecalled
sss) Titanium/Platinum/Gold/Silver Card ttt)Platinum/Gold/Silver Card'
uuu) Platinum/Gold Card
vvv) Goldand Silver Card
Q.162. Payments default risk is embedded in which type of cards?
www) Debitcard
xxx) Creditcard yyy) Both(a)+(b)
zzz) None
Q.163. Banks charges levied for which kind of services on the card holders are - aaaa) Financecharges, wherepartamountpaidofthetotalpayment
bbbb) Minimum amount due means one debits/previous unpaid payments and other charges cccc) Annualised percentage rate-monthly interest when annualised
dddd) Only (b) + (c)
eeee) All (a) to (c)
Q.164. What is meant by other charges levied by banks to card holders?
(a) Cash advance transaction fees/card replacement (lost, reissue) charges
(b) Overdue penalty-late payment fee-over limit penalty/cheque dishonour fees
(c) Both (a) + (b)
(d) Card replacement/overdue penalty/over limit penalty only
Q.165. Forex cards are issued by banks to substitute-
a) Foreign currency notes
b) Travellers cheques
c) Indian currency Notes
d) Both (a) + (b)
Q.166. Demerits of Credit Cards are -
a) High membership fees and annual fees
b) High rate of interest for delayed payments and extension of time
c) (C) Tempt the cardholders for add-on members
d) Both (a) + (b)
Q.167. Demerits to issuers of credit cards
a. High cost of local made plastic card
b. High cost of imported plastic card/maketing cost
c. High cost of credit checks on applicants
d. Both (a) + (c)
e. Both (b) + (c)
Q.168. Default rate in credit cards has gone up high in recent due to-
(a) Use of debit card
(b) Use of Amex card
(c) Non utilisation or under utilisation of credit card
(d) Both (b) + (c)
(e) Use of multiple credit cards
ANSWER-
136
|
D
|
137
|
C
|
138
|
B
|
139
|
D
|
140
|
D
|
141
|
D
|
142
|
D
|
143
|
A
|
144
|
D
|
145
|
A
|
146
|
C
|
147
|
B
|
148
|
C
|
149
|
D
|
150
|
C
|
151
|
D
|
152
|
A
|
153
|
B
|
154
|
A
|
155
|
A
|
156
|
C
|
157
|
A
|
158
|
B
|
159
|
A
|
160
|
D
|
161
|
A
|
162
|
B
|
163
|
E
|
164
|
C
|
165
|
D
|
166
|
D
|
167
|
E
|
168
|
E
|
138
ReplyDelete138
ReplyDelete