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McqMate
Chapters
1. |
What does a digital wallet allow an individual to do? |
A. | Make electronic transactions |
B. | Store physical cash |
C. | Access social media |
D. | Write digital checks |
Answer» A. Make electronic transactions |
2. |
What is the key difference between a debit card and a credit card? |
A. | Debit cards are only used online. |
B. | Credit cards have spending limits. |
C. | Debit cards offer rewards programs. |
D. | Debit card transactions deduct funds directly from the user's bank account. |
Answer» D. Debit card transactions deduct funds directly from the user's bank account. |
3. |
What is a credit card based on? |
A. | Prepaid funds loaded onto the card |
B. | The cardholder's promise to pay the issuer for the amount spent |
C. | Direct access to the cardholder's bank account |
D. | A monthly subscription fee |
Answer» B. The cardholder's promise to pay the issuer for the amount spent |
4. |
What type of entity is E-Cash? |
A. | A cryptocurrency |
B. | A mobile wallet app |
C. | A financial technology company |
D. | An online marketplace |
Answer» C. A financial technology company |
5. |
Which of the following is NOT a risk associated with E-payments? |
A. | Credit risk |
B. | Fraud risk |
C. | Liquidity risk |
D. | Delivery risk |
Answer» D. Delivery risk |
6. |
What is a potential consequence of inadequate internal controls in E-payments? |
A. | Increased customer satisfaction |
B. | Higher risk of fraud and financial losses |
C. | Improved compliance with regulations |
D. | Faster transaction processing times |
Answer» B. Higher risk of fraud and financial losses |
7. |
What type of risk arises from a credit union's inability to settle financial obligations on time? |
A. | Liquidity risk |
B. | Systemic risk |
C. | Strategic risk |
D. | Compliance risk |
Answer» A. Liquidity risk |
8. |
Which risk involves potential harm to a credit union's reputation due to unmet customer expectations? |
A. | Operational risk |
B. | Strategic risk |
C. | Reputation risk |
D. | Systemic risk |
Answer» C. Reputation risk |
9. |
What is an e-payment system? |
A. | A system for exchanging physical currency |
B. | A method of making transactions electronically |
C. | A platform for online auctions |
D. | A type of cryptocurrency |
Answer» B. A method of making transactions electronically |
10. |
Which of the following is an advantage of e-payments? |
A. | Increased risk of theft |
B. | High transaction fees |
C. | Limited acceptance |
D. | Convenience and time savings |
Answer» D. Convenience and time savings |
11. |
What is a disadvantage of using e-payments? |
A. | Potential security risks and hacking |
B. | Faster transaction times |
C. | Lower transaction fees |
D. | Increased anonymity |
Answer» A. Potential security risks and hacking |
12. |
Why might transferring money between different e-payment systems be problematic? |
A. | All systems use the same currency. |
B. | Transfers are usually instantaneous. |
C. | Many systems lack interoperability and may require currency exchange. |
D. | Transfer fees are typically very low. |
Answer» C. Many systems lack interoperability and may require currency exchange. |
13. |
What is a smart card? |
A. | A loyalty card for a specific store |
B. | A virtual credit card stored on a phone |
C. | A plastic card with an embedded microchip for data storage and processing |
D. | A type of contactless payment method |
Answer» C. A plastic card with an embedded microchip for data storage and processing |
14. |
What is one of the main advantages of using smart cards? |
A. | Enhanced security features and encryption |
B. | Universal compatibility with all readers |
C. | Low production cost |
D. | Unlimited storage capacity |
Answer» A. Enhanced security features and encryption |
15. |
Which of the following is a concern regarding the privacy of smart card information? |
A. | Smart cards are highly resistant to hacking. |
B. | Users have complete control over their data. |
C. | Information is stored locally on the card. |
D. | Potential access or misuse by unauthorized entities, including governments |
Answer» D. Potential access or misuse by unauthorized entities, including governments |
16. |
How can smart cards be beneficial in healthcare? |
A. | Storing insurance information and medical history |
B. | Providing secure access to critical medical records and prescriptions |
C. | Monitoring patient vital signs remotely |
D. | Facilitating online medical consultations |
Answer» B. Providing secure access to critical medical records and prescriptions |
17. |
What is a key characteristic of electronic payment in e-commerce? |
A. | It involves paperless monetary transactions. |
B. | It requires physical presence at a bank. |
C. | It is more time-consuming than manual processing. |
D. | It limits market reach for businesses. |
Answer» A. It involves paperless monetary transactions. |
18. |
Which e-commerce payment method directly deducts funds from the customer's bank account? |
A. | Credit Card |
B. | Debit Card |
C. | E-Wallet |
D. | Smart Card |
Answer» B. Debit Card |
19. |
What is the function of a CVN (Card Verification Number) in online credit card payments? |
A. | To store the cardholder's PIN |
B. | To track the cardholder's spending habits |
C. | To encrypt the cardholder's personal information |
D. | To enhance security and help detect fraudulent transactions |
Answer» D. To enhance security and help detect fraudulent transactions |
20. |
What is an e-wallet? |
A. | A physical wallet for storing credit cards |
B. | A type of cryptocurrency |
C. | A prepaid account that stores payment information for multiple cards and accounts |
D. | A mobile app for online banking |
Answer» C. A prepaid account that stores payment information for multiple cards and accounts |
21. |
What is the primary benefit of using net banking for e-commerce payments? |
A. | It allows direct payment from the customer's bank account without a physical card. |
B. | It offers rewards points and cashback on purchases. |
C. | It provides anonymity for online transactions. |
D. | It eliminates the need for internet access. |
Answer» A. It allows direct payment from the customer's bank account without a physical card. |
22. |
How does mobile payment work for e-commerce transactions? |
A. | By using NFC (Near Field Communication) technology |
B. | By sending a payment request through text message or mobile app |
C. | By scanning a QR code displayed on the merchant's website |
D. | By making a voice call to the customer's bank |
Answer» B. By sending a payment request through text message or mobile app |
23. |
What is B2B marketing? |
A. | Marketing to individual consumers |
B. | Marketing through social media platforms |
C. | Marketing to government agencies |
D. | Marketing products or services to other businesses |
Answer» D. Marketing products or services to other businesses |
24. |
What is brand strategy? |
A. | A long-term plan for developing a successful brand |
B. | A short-term promotional campaign |
C. | A method of measuring brand awareness |
D. | A set of guidelines for brand logo design |
Answer» A. A long-term plan for developing a successful brand |
25. |
What is data warehousing? |
A. | The process of deleting large amounts of data |
B. | The process of constructing and using a data warehouse for analytical reporting |
C. | The practice of collecting data from unauthorized sources |
D. | A type of data encryption method |
Answer» B. The process of constructing and using a data warehouse for analytical reporting |
26. |
What is data mining? |
A. | The process of storing data in a secure location |
B. | The practice of manipulating data for fraudulent purposes |
C. | The process of analyzing large datasets to identify patterns and relationships |
D. | A type of data compression technique |
Answer» C. The process of analyzing large datasets to identify patterns and relationships |
27. |
What is a key advantage of viral marketing? |
A. | Guaranteed sales conversion |
B. | Control over message dissemination |
C. | Potential for wide reach at low cost |
D. | High barrier to entry |
Answer» C. Potential for wide reach at low cost |
28. |
Why is viral marketing considered non-invasive? |
A. | Users choose to share the content willingly. |
B. | It does not collect any user data. |
C. | It bypasses traditional advertising channels. |
D. | It relies on personal recommendations. |
Answer» A. Users choose to share the content willingly. |
29. |
What is CRM (Customer Relationship Management)? |
A. | A software for managing employee payroll |
B. | A system for tracking inventory levels |
C. | A platform for online advertising |
D. | A strategy for managing interactions with customers |
Answer» D. A strategy for managing interactions with customers |
30. |
Which of the following is a key feature of CRM? |
A. | Product design and development |
B. | Tracking customer interactions and history |
C. | Managing supply chain logistics |
D. | Financial accounting and reporting |
Answer» B. Tracking customer interactions and history |
31. |
How can CRM benefit businesses? |
A. | Improve customer satisfaction and loyalty |
B. | Reduce employee productivity |
C. | Increase operational costs |
D. | Complicate business processes |
Answer» A. Improve customer satisfaction and loyalty |
32. |
What is a cookie in the context of e-business? |
A. | A type of malware |
B. | A form of online payment |
C. | A small text file stored on a user's computer by a website |
D. | A method of data encryption |
Answer» C. A small text file stored on a user's computer by a website |
33. |
How are cookies used in e-commerce? |
A. | To track user browsing history across different websites |
B. | To display targeted advertising based on user interests |
C. | To remember user login details and preferences |
D. | All of the above |
Answer» D. All of the above |
34. |
What type of cookie is used to keep items in an online shopping cart? |
A. | Session cookie |
B. | Permanent cookie |
C. | Third-party cookie |
D. | Secure cookie |
Answer» A. Session cookie |
35. |
What is permission marketing? |
A. | Marketing to a specific target audience |
B. | Marketing to consumers who have explicitly agreed to receive communication |
C. | Marketing through social media influencers |
D. | Marketing through unsolicited email |
Answer» B. Marketing to consumers who have explicitly agreed to receive communication |
36. |
Which of the following is an example of permission marketing? |
A. | Cold calling potential customers |
B. | Displaying pop-up ads on websites |
C. | Opt-in email subscriptions |
D. | Sending unsolicited text messages |
Answer» C. Opt-in email subscriptions |
37. |
What is affiliate marketing? |
A. | An arrangement where one party promotes another party's products for a commission |
B. | A type of influencer marketing |
C. | A form of paid advertising |
D. | A method of market research |
Answer» A. An arrangement where one party promotes another party's products for a commission |
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