Banking AwarenessDigital Banking & Paymentsmixed

Payments Quiz

Practice quiz on Payments (General Knowledge). 10 exam-style questions with explanations.

10
Minutes
10
Marks
FREE
Access

About This Quiz

Practice quiz on Payments (General Knowledge). 10 exam-style questions with explanations. Payments Quiz is a free, 10-minute, 10-mark practice quiz on AajExam rated at mixed difficulty, designed to help candidates preparing for SSC, UPSC, Banking, Railway and State PSC government competitive exams sharpen their command of Digital Banking & Payments (Banking Awareness). Every question on this quiz ships with a detailed step-by-step solution so you don't just learn the right answer — you learn the reasoning and shortcuts top scorers use to crack similar questions faster on the actual exam day. Why Payments Quiz matters in your preparation: government exam-conducting bodies repeatedly draw questions from the same chapters and the same skill-clusters across recruitment cycles. By attempting focused topic-wise quizzes like this one, you build pattern recognition — the ability to spot which formula, rule or trick applies the moment you see a question. Toppers consistently report that 5-10 quizzes on a single topic delivers more exam-day score gain than 20+ unfocused full-length mocks, because targeted drilling exposes your specific sub-topic weaknesses with surgical precision. How to use this quiz effectively: attempt it in one sitting under the 10-minute timer, without referring to notes or external resources — simulate exam-day conditions exactly. After submission, review the auto-generated analytics to see your accuracy, time per question and section-wise performance. Then go through every wrong and skipped question with the explanation, mentally tagging the underlying concept rather than just memorising the answer. Revisit this quiz after 7-10 days; your second attempt should be 15-20% faster with noticeably better accuracy. After mastering this quiz, explore the 6 related quizzes linked below to broaden your topic coverage. AajExam quiz design principles: every quiz on the platform is curated by subject experts using the actual question formats, difficulty distributions and time pressures of the target government exams. We deliberately avoid generic "textbook" questions in favour of exam-replicating ones. Solutions are written in plain English (and Hindi where source material was bilingual), with step-by-step working for quantitative problems, grammar rules for English questions, and direct reference statements for general awareness items. Performance analytics after each attempt include accuracy, attempt rate, time spent per question, and an estimated all-India percentile so you know exactly where you stand against other candidates. This quiz is completely free to attempt. You only need a free AajExam account to track your performance across attempts, view detailed solutions and unlock the platform-wide analytics dashboard. The platform is mobile-friendly and works seamlessly on smartphones, tablets and desktops — so you can sharpen your Digital Banking & Payments (Banking Awareness) skills in any spare 15-minute window.
Loading quiz preview…

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.

  1. 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.

  2. 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).

  3. 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.

  4. 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.

  5. 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.

  6. 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.

  7. 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.

  8. 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.

  9. Q9.The Payment and Settlement Systems Act was passed in

    • A.1949
    • B.1991
    • C.2014
    • D.2007
    Show answer

    Answer: D. 2007

    2007.

  10. 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.

Related Digital Banking & Payments Quizzes