E-Banking Quiz PIB2023

What is electronic banking also known as?

• Manual transfer

• Cash transfer

• Cheque transfer

• Electronic funds transfer (EFT)

Which of the following is an example of consumer products in e-banking?

• Automated teller machine (ATM)

• Islamic banking

• Electronic data interchange

• Corporate product

What does EFTPOS stand for in e-banking?

• Electronic funds transfer at point of sale

• Electronic data interchange

• Phone banking

• Credit cards

What is the main advantage of using a debit card?

• Requires the balance to be paid back in a short period of time

• Charges interest

• Allows you to pay later

• Operates like cash or a personal check

What is the purpose of electronic data interchange (EDI) in the banking industry?

• To allow fund transfer

• To offer fund enquiries

• To automate multiple payments

• To provide bills payment

What can customers access at all times through internet banking?

• Applying internet

• Credit card application

• Applying loan

• Fund enquiries

What is the main advantage of e-banking for banks?

• High membership fee

• Limited product offerings

• Low cost of operation

• High incidence of errors

What is the main disadvantage of savings and credit cooperatives in comparison to banks?

• High membership fee

• Limited product offerings

• High incidence of errors

• Low cost of operation

What is the main advantage of using credit cards and debit cards in e-banking?

• Offers discounts at points of sale

• Allows you to pay later

• Requires the balance to be paid back in a short period of time

• Operates like cash or a personal check

What is the purpose of phone banking in e-banking?

• To automate multiple payments

• To allow fund transfer

• To offer fund enquiries

• To perform financial transactions over the telephone