CHAPTER 6 NEW

Multiple Choice

When was the Automated Teller Machine (ATM) introduced in Malaysia?

• 1981

• 1987

• 1990

• 1991

Multiple Choice

Which technology has become the next technology leap in Malaysia during 1990s?

• Automated teller machines

• Automated self banking

• Telephone Banking

• Internet Banking

Multiple Choice

Electronic Banking is actually a repackaging,  delivery and processing of traditional banking  financial services such as cash withdrawals, fund transfers, placement of deposits through an electronic on-line medium as compared  to customary  paper based, off-line system (Tan Min Ching , 1993)

• TRUE

• FALSE

Multiple Choice

Define electronic banking.

• A fund transfer using customary paper offline at the point of sale.

• The use of a computer to retrieve and process banking data and to initiate

  transaction directly with a bank via a telecommunications network.

• A co-operative society, founded in 1974 by seven international banks, which

  operate a global network to facilitate the transfer of financial messages.

• An image-based cheque clearing system where the cheque image and magnetic

  ink character recognition code line data are captured and transmitted electronically

  to facilitate clearing.

Multiple Choice

Electronic banking can be explain as ___________________.

• globally accepted Shariah concept used.

• competitive pricing and margin of financing.

• provide flexibility in utilization of customer credit facility.

• a repackaging, delivery, and processing of traditional banking financial service

  through an online medium.

Multiple Choice

…the automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels.

• e-trade

• e-commerce

• e-transaction

• e-banking

Multiple Choice

Below are the advantages of e-banking EXCEPT

 

i.       Reducing cost and less expensive rather than paper cheque payment and collection.

ii.      Improved flexibility of business transaction.

iii.     Doesn’t offer variety of services like paying bills.

iv.    Not able to access an account for transaction everywhere.

• i and ii

• iii and iv

• i,ii, and iv

• i,ii,iii and iv

Multiple Choice

In electronic banking methods and processes, what is electronic funds transfer (EFT)?

• online trading for retail investors

• a computerized electronic machine that performs basic banking functions

• transfer funds directly from one account to another, rather than by check or cash

• type of electronic card which is used for transactions made online through a computer or a smartphone

Multiple Choice

……. sometimes called electronic checks, for which a business debits the consumer's bank accounts for payment for goods or services.

• Direct deposit

• Direct debit

• Direct credit

• Credit deposit

Multiple Choice

Which of the following services provided by electronic funds transfer (EFT)?

i.     transfer funds from your checking account to your mutual fund account.

ii.    instruct your bank or credit union to automatically pay certain monthly bills from your account.

iii.   use your computer and personal finance software to coordinate your total personal financial management.

iv.  have your government social security benefits check or your tax refund deposited directly into your checking account.

• i, ii and iii

• i, ii and iv

• ii, iii and iv

• i, ii, iii and iv

Multiple Choice

Consumer activated systems is the bank which normally selects and activates the system.

• TRUE

• FALSE

Multiple Choice

Which of the followings are non-consumer-activated EFT System

 

i.     Electronic Credit and Debit Transfer

ii.    Nature of Credit and Debit Transfer

iii.   International Electronic Transfer

iv.  Electronic funds Transfer

• i, ii and iii

• i, ii and iv

• ii, iii and iv

• i, ii, iii and iv

Multiple Choice

What is the function of Society for Worldwide Interbank Financial Telecommunication ("SWIFT")?

i.       money transfer

ii.      currency exchange

iii.     loan

iv.    manage portfolio.

• i and ii

• iii and iv

• i,ii, and iii

• i,ii, and iv

Multiple Choice

Consumer activated or retail electronic systems encompass transactions involving personal account holders as opposed to corporate account holders. Which of the followings are the systems under consumer-activated system?

i.      ATMs

ii.     SWIFT

iii.    Account balance inquiry

iv.   Credit Cards

• i and iv

• ii and iii

• iii and iv

• ii and iv

Match

Match the following

• eSPICK

• IBG

• SAN

• e-DEBIT

An image-based cheque clearing system

An interbank funds transfer system (up to RM500,000)

A network switch which enables bank customers to access their funds from ATM

ATM cards to be used to pay for purchases at polnt-of-sale (POS)

• An image-based cheque clearing system

• An interbank funds transfer system (up to RM500,000)

• A network switch which enables bank customers to access their funds from ATM

• ATM cards to be used to pay for purchases at polnt-of-sale (POS)

Multiple Choice

Which of the followings are the common functions of ATM machines?

i. Cash withdrawals

ii. Apply for financing.

iii. Account balance inquiry

iv. Cash and cheque deposit

• i and ii

• i,ii and iii

• i,iii and iv

• i,ii,iii and iv

Debit cards are particularly designed for customers who like to pay  using plastic cards but do not want credit.

Debit cards​

allows users to make purchases of variable sizes but limited to the  credit limit imposed by the company.

Credit cards

Credit must be settled in full amount of every month

Charge cards​

​SMART CARD

Multiple Choice

Which of the followings are smart cards?

 

i.       Prepaid cards

ii.      Debit cards

iii.     Credit cards

iv.    Charge cards

• i and ii

• iii and iv

• ii,iii, and iv

• i,ii,iii and iv

Multiple Choice

What are the issues involving E-commerce Banking?

• OUTSOURCING, PRIVACY, TECHNOLOGY, TIME MANAGMENT

• OUTSOURCING, EXPENSICE, TECHNOLOGY, FRAUD

• OUTSOURCING, PRIVACY, TECHNOLOGY, FRAUD

• OUTSOURCING, PRIVACY,

  FACILITY,

  FRAUD

Multiple Choice

Below are the advantages of e-banking EXCEPT

 

i.       Reducing cost and less expensive rather than paper cheque payment and collection.

ii.      Improved flexibility of business transaction.

iii.     Doesn’t offer variety of services like paying bills.

iv.    Not able to access an account for transaction everywhere.

• i and ii

•   iii and iv

• i,ii, and iv

• i,ii,iii and iv

Multiple Choice

What is the limitation of electronic banking system?

i. Online fraud

ii. Customer Privacy

iii. Opportunities to criminal.

iv. No face-to-face interaction.

• i and ii

• iii and iv

• i,iii, and iv

• i,ii,iii and iv