PAYMENT GATEWAY FREE MOCK TEST FOR CAIIB 2022
In this article, we will talk about free Payment Gateway Mock Test, the study material that we provide for your preparation of CAIIB exam 2022.
The IIBF (Indian Institute of Banking and Finance) awards the CAIIB (Certified Associate of Indian Institute of Banking and Finance), which is an examination held to test officers who have already been commissioned in the banking industry and issue them with a certificate confirming their legitimacy. Many perks, including raises, bonuses, and promotions, are given to employees who pass the CAIIB exam 2022.
To aid you in your preparation for CAIIB exam 2022 we bring you free CAIIB mock tests for you all to practice. All the information regarding the Information Technology mock tests and important topics like payment gateway and some sample questions are provided for the same in the article that follows.
So first let’s begin with Payment gateway before we move on to the other topics.
What Is Payment Gateway?
The technology that merchants employ to receive debit or credit card payments from customers is known as a payment gateway. The word covers both the online shopping cart payment processing portals as well as the actual card-reading hardware present in real retail establishments. However, in recent years, payment gateways in physical stores have started to accept phone-based purchases through the use of QR codes or Near Field Communication (NFC) technology.
Read Also: Internet Banking Free Mock Test for Practice | CAIIB IT Exam 2022
Procedures for Payment Gateways
The payment gateway, which is the front-end technology in charge of delivering customer data to the merchant acquiring bank, where the transayction is then processed, is a crucial part of the electronic payment processing system.
Payment gateway technologies are constantly changing to take into account new consumer preferences and technological advancements. Previously, terminals used magnetic stripe credit cards and required paper signatures from customers. A personal identification number (PIN) inserted directly into the payment gateway hardware could replace the signature phase as chip technologies advance. Today, contactless transactions are also possible, and many customers increasingly use their phones as payment methods rather than physical credit cards.
Typical Payment Gateway Examples
Merchants can choose their own payment gateway system, or they can use payment gateway systems through partnerships with merchant acquiring banks. Along with their own merchant acquiring bank services, large banks like Bank of America and JPMorgan Chase provide customers with sophisticated payment gateway systems. In the end, retailers have a number of payment gateway technologies to select from as long as they work with the merchant acquiring bank being utilised to process payments.
Having said that, we move on with the CAIIB Study Material 2022 and CAIIB IT mock tests.
CAIIB IT Payment Gateway Free Mock Test
The applicants can readily get CAIIB Information Technology mock tests free of cost. Mock tests for the CAIIB Information Technology exam 2022 help candidates prepare for the upcoming exam and give them an advantage. Many candidates frequently fall short of giving their utmost effort because of the examination’s time limit. So that candidates can practice performing under time constraints, the CAIIB Information Technology mock tests have been certified with clocks. This aids applicants in finishing questions quickly, enhancing their chances of passing the exam.
When the time limit isn’t taken into consideration, having a full understanding of the subject is simply insufficient to pass these competitive exams. Time management is encouraged in candidates by the CAIIB IT mock tests 2022. With no room for hiccups, mistakes, or inconsistencies, the time limit we stipulate in our CAIIB Information Technology mock tests are the same as the one that will be stipulated in the actual exam. The applicants are trained for much more than the time limit in CAIIB Information Technology mock tests. In CAIIB Information Technology mock tests, candidates learn how to thrive under pressure rather than crumble under it.
Here we have some sample questions for you to solve so as to give you an idea about our CAIIB IT mock tests.
Q) Which of the following is/are threats for electronic payment systems?
- Computer worms
- Computer virus
- Trojan horse
- All of the above
Ans – 4
Q) The system in which a user of any utility service like telephone, electricity, gas etc. can make the payment from his bank account, without a reference to him, by giving the authority, is called ……
- MICR
- truncation
- debit clearing system
- credit clearing system
Ans – 3
Read Also: FREE E-COMMERCE PRACTICE MOCK TEST
Q) The payment system in which there is a single debit and multiple credits……
- electronic clearing service
- electronic debit service
- electronic funds transfer
- SWIFT e CHIPS
Ans – 1
Q) To get membership of a Centralized Payment System, the minimum net worth of a bank should be ……
- Rs.25 cr
- Rs.50 cr
- Rs.70 cr
- Rs.100 cr
Ans – 1
Q) Which of the following is a component of Payment Card Industry Data Security Standard (PCI D55)? 1. Build and Maintain a Secured network, 2. Protect card holder data, 3. Maintain a Vulnerability Management Program, 4. Implement Strong Access Control Measures, 5. Regularly Monitor and Test Networks, 6. Maintain an Information Security Policy
- 1,2 & 6
- 1,3,4 & 6
- 1,2,3,4,5 & 6
- 2,3,4,5 & 6
Ans – 3
Q) The entities which process card based payment transactions on behalf of merchants by entering agreement with merchants for providing POS machines and by facilitating exchange of funds from card issuing banks are called ……
- Card Issuers
- Merchant Acquirers
- Card Schemes
- Merchants
Ans – 2
Q) If there is dishonour of electronic payment instruction from account of a customer, the punishment, as per provisions of Payment and Settlement Systems Act, is ……
- imprisonment up to one year and fine equal to amount mentioned in the payment instruction
- imprisonment up to two years and fine equal to amount mentioned in the payment instruction
- imprisonment up to one year and fine equal to double the amount mentioned in the payment instruction
- imprisonment up to 2 years and fine equal to double the amount mentioned in the payment instruction
Ans – 4
Q) To get membership of a Centralized Payment System, the minimum capital adequacy ratio of a bank should be ……
- 8% of risk-weighted assets
- 9% of risk-weighted assets
- 10% of risk-weighted assets
- 11% of risk-weighted assets
Ans – 2
Q) The pre-paid payment instruments that can be issued in India are classified as ……
- Closed system payment instruments
- Semi-closed system payment instruments
- Open system payment instruments
- all the above
Ans – 4
Q) Under RTGS, the originating member should ensure I factor authentications by adopting maker-checker pone while originating a payment transaction. It should release the payment message from their system to the RTGS central system within …… minutes of debiting customer’s account
- 15 minutes
- 30 minutes
- 45 minutes
- 60 minutes
Ans – 2
CAIIB STUDY MATERIAL 2022
We have compiled fantastic CAIIB study material for you to help you prepare for the exam. CAIIB syllabus 2022 was taken into consideration while coming up with the CAIIB study material. We provide various services like:
- Recorded video lectures which can be downloaded offline
- Mock tests for you to practice on.
- Notes in the form of ePDFs which can be accessed through our apps- ‘IIBF LEARNING CENTER ‘ and ‘LEARNING SESSIONS PRO’ for Android users and ‘MY INSTITUTE APP’ for iOS users.
Read Also: CAIIB NOVEMBER EXAM 2022 | SCHEDULE OF LIVE CLASSES
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