Electronic Payment Systems Practice Test

12th Standard Computer Applications — Electronic Payment Systems: Online Practice Test

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Based on the monetary value, electronic payment systems can be classified into:

A.Micro and Macro B.Micro and Nano C.Maximum and Minimum D.Maximum and Macro

Which of the following refers to a payment made from one bank account to another bank account using electronic methods?

A.Electronic payment B.Direct payment C.Indirect payment D.None of the above

Assertion (A): Macro electronic payment systems support higher value payments. Reason (R): Expensive cryptographic operations are included in macro payments.

A.Both (A) and (R) are correct and (R) is the correct explanation of (A) B.Both (A) and (R) are correct, but (R) is not the correct explanation of (A) C.(A) is true and (R) is false D.(A) is false and (R) is true

Which of the following is correctly matched?

A.Credit Cards - pay before B.Debit Cards - pay now C.Stored Value Card - pay later D.Smart card - pay anytime

ECS stands for ___________

A.Electronic Clearing Services B.Electronic Cloning Services C.Electronic Clearing Station D.Electronic Cloning Station

Which of the following is an online payment system designed for small payments?

A.Card based payment B.Micro electronic payment C.Macro electronic payment D.Credit card payment

Which of the following is true about Virtual Payment Address (VPA)?

A.Customers can use their e-mail id as VPA B.VPA does not include numbers C.VPA is a unique ID D.Multiple bank accounts cannot have single VPA

Pick the odd one out in credit card transactions.

A.Card holder B.Merchant C.Marketing manager D.Acquirer

Which of the following is true about a debit card? i. Debit cards cannot be used in ATMs ii. Debit cards cannot be used in online transactions iii. Debit cards do not need bank accounts iv. Debit cards and credit cards are identical in physical properties

A.i, ii, iii B.ii, iii, iv C.iii alone D.iv alone

Q10

Match the following credit card digit divisions: List A: A1) First Digit A2) 9th to 15th Digit A3) First 6 Digits A4) Last Digit List B: B1) Account number B2) MII Code B3) BIN Code B4) Check digit

A.A1-B4, A2-B3, A3-B2, A4-B1 B.A1-B2, A2-B1, A3-B3, A4-B4 C.A1-B2, A2-B3, A3-B4, A4-B1 D.A1-B2, A2-B4, A3-B3, A4-B1

Q11

Who first mentioned the term 'credit card' in the sci-fi novel 'Looking Backward' in 1887?

A.Frank McNamara B.Ralph Schneider C.Edward Bellamy D.Michael Aldrich

Q12

Which electronic payment card operates on the settlement principle of 'pay before'?

A.Debit card B.Credit card C.Stored value card D.Charge card

Q13

What is the standard width and thickness of a payment card under the ISO/IEC 7810 ID-1 standard?

A.85.60 mm width and 0.76 mm thickness B.53.98 mm width and 0.76 mm thickness C.85.60 mm width and 2.88 mm thickness D.53.98 mm width and 3.48 mm thickness

Q14

Which bank of the merchant is responsible for receiving payment on behalf of the merchant and sending authorization requests to the issuing bank?

A.Issuer B.Acquirer C.Bearer D.Central Bank

Q15

What does the first digit of a credit card number represent?

A.Bank Identification Number B.Major Industry Identifier C.Account Number D.Check digit

Q16

Which algorithm is used to validate the last digit (check digit) of a credit card number?

A.RSA Algorithm B.Luhn Algorithm C.Diffie-Hellman Algorithm D.SHA-1 Algorithm

Q17

In February 1950, which cardboard-based card was launched that was initially accepted in only 27 restaurants?

A.Visa Card B.MasterCard C.Diners Club Card D.Rupay Card

Q18

A Chennai metro rail travel card is an example of which type of stored value card?

A.Open loop stored value card B.Closed loop stored value card C.Multipurpose stored value card D.Contactless credit card

Q19

What type of cryptographic primitives and verification methods are primarily used in micro electronic payment systems to keep transaction costs low?

A.Public key cryptography and real-time online verification B.Lightweight cryptographic primitives and off-line verification C.Asymmetric encryption and continuous multi-factor authentication D.Symmetric key cryptography and real-time bank employee intervention

Q20

In India, National Electronic Funds Transfer (NEFT) was initiated in November 2005 by which organization?

A.National Payments Corporation of India (NPCI) B.Reserve Bank of India (RBI) C.Institute for Development and Research in Banking Technology (IDRBT) D.State Bank of India (SBI)

Q21

Which institution is responsible for establishing and maintaining the National Electronic Funds Transfer (NEFT) system in India?

A.National Payments Corporation of India (NPCI) B.Institute for Development and Research in Banking Technology (IDRBT) C.Reserve Bank of India (RBI) D.Ministry of Finance

Q22

Which of the following describes a key distinction between NEFT and RTGS transactions in India?

A.RTGS transactions are processed in real-time, while NEFT transactions are processed in batches B.NEFT is only used for international transactions, while RTGS is for domestic transfers C.RTGS does not require an IFSC code, whereas NEFT requires it D.NEFT is regulated by the RBI, while RTGS is unregulated

Q23

What does the abbreviation VPA stand for in the context of Unified Payments Interface (UPI)?

A.Virtual Payment Association B.Virtual Payment Address C.Verified Payment Account D.Variable Payment Asset

Q24

Which real-time payment system serves as the foundational basis on which Unified Payments Interface (UPI) was developed?

A.National Electronic Funds Transfer (NEFT) B.Immediate Payment Service (IMPS) C.Real Time Gross Settlement (RTGS) D.Electronic Clearing Service (ECS)

Q25

Which USSD service code allows users without internet access to utilize UPI services within India?

A.*99# B.*121# C.*100# D.*999#

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About this Electronic Payment Systems test

This free online practice test covers Electronic Payment Systems from the 12th Standard Computer Applications (Samacheer Kalvi) syllabus. Choose the number of questions and an optional time limit, then answer and submit — everything is checked in your browser, with the correct answers and a worked explanation shown at the end. For the full solutions to every question in this set, see the solved MCQs page.

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