Deck 4: Prepaid Payment Instruments (PPIS) and Venture Capital

Question 1

An entity registered under which act can issue PPIs?

A)Reserve Bank of India Act, 1934
B)Companies Act, 1956 / Companies Act, 2013
C)Banking Regulations Act, 1949
D)Payment and. Settlement Systems Act, 2007

Answer 1

Companies Act, 1956 / Companies Act, 2013

Question 2

What is the rate of interest offered on PPI balance?

A)1%
B)2%
C)Zero
D)3%

Answer 2

Zero

Question 3

Which of the following is not one of the types of PPIs issued?

A)Closed System PPIs
B)Semi-closed System PPIs
C)Open System PPIs
D)Semi-open System PPIs

Answer 3

Semi-open System PPIs

Question 4

What is the maximum permitted limit of balance at any point in time in PPIs per month?

A)Rs 75,000
B)Rs 1 lakh
C)Rs 25,000
D)Rs 50,000

Question 5

Venture capital is concerned with:

A)New project having potential for higher profit
B)New project of high technology
C)New project having high risk
D)All the above.

Question 6

What is the maximum validity period of a PPI?

A)6 months
B)12 months
C)9 months
D)3 months

Question 7

The PPIs that are issued by an entity for facilitating the purchase of goods and services from that entity only and do not permit cash withdrawal are known as_____________

A)Open System PPIs
B)Semi-closed System PPIs
C)Semi-open System PPIs
D)Closed System PPIs

Question 8

Paytm, MobiKwik is an example of which type of PPI?

A)Semi-closed System PPIs
B)Open System PPIs
C)Closed System PPIs
D)Semi-Open System PPIs

Question 9

Which of the following is an example of Open System PPIs?

A)Rupay
B)Paytm Wallet
C)Ola Money
D)All the above

Question 10

In the Open System PPIs, the outstanding amount should not exceed______________ at any point.

A)Rs 10,000
B)Rs 50,000
C)Rs 1 lakh
D)Rs 2 lakh

Question 11

In …………………..type of payment system customer is allowed to spend only up to the amount that have pre deposited into account.

A)Prepaid
B)Post paid
C)both of these
D)none of these

Question 12

……………………….credit card gives all the advantages of a normal credit card without worrying about the interest charges.

A)Prepaid
B)Post paid
C)both of these
D)none of these

Question 13

A……………………..is a device that includes an embedded integrated circuit Chip [ICC] that can be either a secure micro controller or equivalent intelligence with internal memory or a memory chip alone.

A)smart Cards
B)E-Cheques
C)E-cash
D)none of these

Question 14

Smart Card is ______

A)Special purpose Cards
B)Microprocessor Cards
C)Processing unit contains memory for storing data
D)Processing unit for software