Here are some MCQs on Payment Systems
1. Which of the following is not a type of payment system?
a) E-money
b) Debit card
c) Credit card
d) Gift card
2. The Central Bank is responsible for _______ in a country.
a) Issuing currency
b) Clearing and settlement of transactions
c) Regulating banks
d) All of the above
3. Which of the following is an example of a non-cash payment system?
a) Cheque
b) Cash withdrawal from an ATM
c) Direct debit
d) Mobile payment
4. An Automated Clearing House (ACH) is used for ________.
a) Real-time payments
b) Instant money transfers
c) Batch processing of payments
d) International remittances
5. The abbreviation SWIFT stands for ________.
a) Society for Worldwide Interbank Financial Telecommunication
b) Secure Worldwide Interbank Force Transfer
c) System for World Interbank Fund Transfer
d) Savings Worldwide Interbank Financial Transaction
