Banking Awareness Quiz – Set 181

Hello Aspirants,
Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

1. PCA Stands for _______
   A. Process Corrective Action
   B. Problem Corrective Action
   C. Product Corrective Action
   D. Prompt Corrective Action
   E. None of these
   
   Answer & Explanation

   D. Prompt Corrective Action
   Explanation:
   The salient features of revised Prompt Corrective Action(PCA) Framework for Banks are Capital, asset quality, and profitability.
   
   
2. AFA Stands for ______
   A. Additional Factor Authentication
   B. Additive Factor Authentication
   C. Audit Factor Authentication
   D. Alternate Factor Authentication
   E. None of these
   
   Answer & Explanation

   A. Additional Factor Authentication
   Explanation:
   AFA – Additional Factor Authentication
   
   
3. The Term “Presumptions” is associated with _____ of Negotiable Instruments Act 1881.
   A. Section 123
   B. Section 134
   C. Section 136
   D. Section 128
   E. Section 118
   
   Answer & Explanation

   E. Section 118
   Explanation:
   The Term “Presumptions” is associated with section 118 of Negotiable Instruments Act 1881.
   
   
4. Which of the following is/are only inputs required for a customer to do a transaction under AEPS?
   A. IIN
   B. Aadhaar Number
   C. Finger Print
   D. All of these
   E. None of these
   
   Answer & Explanation

   D. All of these
   Explanation:
   IIN (Identifying the Bank to which the customer is associated)
   Aadhaar Number
   Fingerprint captured during their enrollment
   
   
5. In how many languages is BHIM app available?
   A. 10
   B. 14
   C. 12
   D. 13
   E. None of these
   
   Answer & Explanation

   C. 12
   Explanation:
   BHIM is available in 12 languages, i.e., Hindi, English, Tamil, Telugu, Malayalam, Bengali, Odia, Kannada, Punjabi, Assamese, Marathi and Gujarati.
   
   
6. How many digits are there in UPI Pin?
   A. 5 digits
   B. 4 digits
   C. 6 digits
   D. Either (A) or (B)
   E. Either (B) or (C)
   
   Answer & Explanation

   E. Either (B) or (C)
   Explanation:
   UPI PIN is a four or six digit number that is set by the customers on BHIM after the registration process.
   
   
7. What is a maximum limit to the amount of money that can be sent using BHIM per transaction?
   A. 8000
   B. 5000
   C. 10000
   D. 12000
   E. None of these
   
   Answer & Explanation

   C. 10000
   Explanation:
   A user can send up to a maximum amount Rs 10,000 per transaction.
   
   
8. What is a maximum limit to the amount of money that can be sent using BHIM?
   A. 18000
   B. 15000
   C. 20000
   D. 25000
   E. None of these
   
   Answer & Explanation

   C. 20000
   Explanation:
   A user can send up to a maximum of Rs 20,000 per day for one bank account. .
   
   
9. A _____ is a unique identifier which you can use to send and receive money on UPI.
   A. Vertical Payment Address
   B. Virtual Payment Address
   C. Vertical Process Address
   D. Virtual Process Address
   E. None of these
   
   Answer & Explanation

   B. Virtual Payment Address
   Explanation:
   A Virtual Payment Address (VPA) is a unique identifier which you can use to send and receive money on UPI.
   
   
10. How many VPAs can be added to BHIM?
    A. One
    B. Two
    C. Three
    D. Four
    E. None of these
    
    Answer & Explanation

    B. Two
    Explanation:
    BHIM allows you to use two VPA’s. First one is the default VPA (mobile number@upi). The second one, you can create on “My Profile” page.