Quiz 5

What does UPI stand for in the context of Indian digital payments?

• Universal Payment Interface

• Unified Payments Interface

• User-Provided Integration

• Unified Payment Instrument

In UPI terminologies, what does 'VPA' stand for?

A)

B)

C)

D)

• Virtual Payment Address

• Verified Payment Account

• Vendor Payment Authorization

• Virtual Personal Account

How do fintech apps help users avoid late payment fees on bills?

• By blocking their accounts

• By sending reminders

• By increasing the bills

• By providing free pizza

What comes once in a minute, twice in a moment, but never in a thousand years?

What is the primary use of a "bill reminder" feature in fintech?

• Sending cooking recipes

• Reminding users of their favorite TV shows

• Reminding users of upcoming bill due dates

• Sharing jokes and memes

I am taken from a mine and shut up in a wooden case, from which I am never released, and yet I am used by almost every person. What am I?

What is the primary purpose of a "wallet" in fintech?

• To store groceries

• To hold digital currencies

• To keep pets

• To store books

What has keys but can't open locks, space but no room, and you can enter but not go inside?

Which of the following is a written order directing a bank to pay a specific sum of money from the account of the person issuing the cheque?

A)

B)

C)

D)

• Voucher

• Draft

• Cheque

• Invoice

What do you call an additional charge imposed for late payment of a bill or loan installment?

• Interest

• Penalty

• Discount

• Premium