Payments Quiz
Practice quiz on Payments (General Knowledge). 10 exam-style questions with explanations.
About This Quiz
Payments Quiz — Questions with Solutions
All 10 questions from this quiz with the correct answer and explanation. Attempt them yourself first, then open each solution to check your reasoning.
Q1.RTGS stands for
- A.Real Time Group System
- B.Real Time Gross Settlement
- C.Rapid Transfer Gross System
- D.Real Time Government Scheme
Show answer
Answer: B. Real Time Gross Settlement
RTGS.
Q2.NEFT works in
- A.Batches
- B.Paper only
- C.Real time gross only
- D.Cash only
Show answer
Answer: A. Batches
Batch settlement (now 24x7).
Q3.Which is the fastest 24x7 retail payment system?
- A.Cheque clearing
- B.Demand draft
- C.Money order
- D.IMPS
Show answer
Answer: D. IMPS
IMPS/UPI.
Q4.A debit card draws money from
- A.A post office loan
- B.A credit line
- C.Your bank account
- D.The stock market
Show answer
Answer: C. Your bank account
Account balance.
Q5.A credit card allows
- A.Only saving
- B.Borrowing up to a limit
- C.Only gold
- D.Only shares
Show answer
Answer: B. Borrowing up to a limit
Credit limit.
Q6.PPI stands for
- A.Prepaid Payment Instrument
- B.Primary Payment Item
- C.Private Payment Interface
- D.Public Payment Index
Show answer
Answer: A. Prepaid Payment Instrument
PPI.
Q7.NACH is used for
- A.Share trading
- B.Passports
- C.Visas
- D.Bulk and recurring payments
Show answer
Answer: D. Bulk and recurring payments
National Automated Clearing House.
Q8.BBPS stands for
- A.Bharat Bank Payment System
- B.Bharat Bill Payment System
- C.Basic Bill Payment Service
- D.Bank Bill Payment Scheme
Show answer
Answer: B. Bharat Bill Payment System
BBPS.
Q9.The Payment and Settlement Systems Act was passed in
- A.1949
- B.1991
- C.2014
- D.2007
Show answer
Answer: D. 2007
2007.
Q10.आयड़ स्थापत्य कला देख सकते हैं –
- A.उदयपुर में
- B.जोधपुर में
- C.अजमेर में
- D.बीकानेर में
Show answer
Answer: A. उदयपुर में
Frequently Asked Questions
Is Payments Quiz free to attempt on AajExam?
Yes. Payments Quiz is completely free. You only need a free AajExam account to track your score, view detailed solutions and unlock cross-attempt analytics.
How long does it take to complete Payments Quiz?
Payments Quiz runs on a 10-minute timer in real exam-style conditions. The clock starts the moment you click Start, mirroring the time pressure of the actual exam.
Are detailed solutions provided?
Yes. Every question on Payments Quiz ships with a complete step-by-step solution, the underlying concept, and (where applicable) shortcut tricks. You can also discuss any question with the AajExam community.
Can I attempt Payments Quiz multiple times?
Yes. You can attempt this quiz as many times as you like. Each attempt is recorded separately so you can track improvement in score, accuracy and time-management.
Which government exams does this quiz prepare me for?
Digital Banking & Payments questions appear regularly in SSC CGL, CHSL, MTS, GD; IBPS PO, Clerk; SBI PO, Clerk; RRB NTPC, Group D; UPSC prelims and most State PSC exams. The specific weightage varies by exam — check the exam pattern on the corresponding AajExam exam page for details.