JAIIB Paper 2 Module C Quiz 10

Correct answer: Option 4. UPI and NEFT are both electronic payment options but have different operating models and customer experiences. Their exact limits and features depend on current system rules and bank channels. Topic area: Integrated Banking Technology — UPI versus NEFT.

Correct answer: Option 1. The key distinction is real-time gross settlement versus batch-based funds transfer. Both operate electronically and are governed by their respective system rules. Topic area: Integrated Banking Technology — RTGS versus NEFT.

Correct answer: Option 1. CBS supports anywhere banking by integrating account records and branch/channel operations. It improves convenience but still needs controls and service availability. Topic area: Integrated Banking Technology — CBS advantage for customers.

Correct answer: Option 4. Analytics can flag unusual activity based on patterns and risk indicators. Alerts need investigation, quality data and controls to manage false positives and privacy risks. Topic area: Integrated Banking Technology — Data analytics for fraud prevention.

Correct answer: Option 2. A debit without corresponding beneficiary credit may be a failed or pending transaction. Use official complaint channels and the applicable system‘s reversal and turnaround-time rules. Topic area: Integrated Banking Technology — Failed UPI transaction with debit but no beneficiary credit.

Correct answer: Option 4. A PIN authorises sensitive actions and must remain secret. Genuine support should not require a customer to disclose it. Topic area: Integrated Banking Technology — UPI PIN safety.

Correct answer: Option 1. Different stages may include initiation, processing, clearing, settlement and beneficiary posting. Customers and banks should use official transaction status and reconciliation records. Topic area: Integrated Banking Technology — EFT transaction status.

Correct answer: Option 2. ATM reconciliation identifies cash shortages, excesses, failed dispenses and record mismatches. Exceptions should be investigated and resolved under documented procedures. Topic area: Integrated Banking Technology — ATM cash reconciliation.

Correct answer: Option 4. An ATM switch routes transaction messages and supports authorisation flows. Availability, security, monitoring and reconciliation are important operational controls. Topic area: Integrated Banking Technology — ATM switch.

Correct answer: Option 4. The issuer provides the card or payment credential and manages the cardholder relationship. The acquirer serves the merchant or ATM acceptance side. Topic area: Integrated Banking Technology — Issuer in a card transaction.

Correct answer: Option 4. An acquirer supports merchant or ATM acceptance and routes transaction information through the relevant network and scheme arrangements. Topic area: Integrated Banking Technology — Acquirer in a card transaction.

Correct answer: Option 4. Two-factor authentication combines different factor categories. The strength depends on implementation and resistance to phishing, interception and account recovery abuse. Topic area: Integrated Banking Technology — Two-factor authentication.

Correct answer: Option 4. Technology changes can affect availability, integrity, confidentiality and customer service. Assessment, testing, approvals, monitoring and rollback planning help control risk. Topic area: Integrated Banking Technology — Banking technology change risk.

Correct answer: Option 2. Timely alerts improve visibility and can speed reporting, but they must not expose secrets. Customers should use official reporting channels for suspicious activity. Topic area: Integrated Banking Technology — Customer alert for digital transactions.

Correct answer: Option 1. Consent dashboards support transparency and control in the account-aggregator ecosystem. Sharing must follow the applicable framework and permissions. Topic area: Integrated Banking Technology — Account Aggregator consent dashboard.

Correct answer: Option 4. e-RUPI is purpose-specific. Redemption depends on the voucher design, participating service provider and applicable terms rather than unrestricted cash-like use. Topic area: Integrated Banking Technology — e-RUPI voucher redemption.

Correct answer: Option 4. Outsourcing may provide expertise but does not remove the bank‘s responsibility for compliance, customer protection, operational resilience and risk management. Topic area: Integrated Banking Technology — Bank‘s responsibility for outsourced CBS.

Correct answer: Option 4. Official complaint routes create a traceable record. Escalation may involve the bank, payment-system process and applicable RBI grievance framework depending on the case. Topic area: Integrated Banking Technology — Digital payment grievance escalation.

Correct answer: Option 1. Bank employees must protect confidentiality and follow access policies, privacy requirements and information-security controls. Curiosity or convenience is not a valid business purpose. Topic area: Integrated Banking Technology — Secure handling of customer data by staff.

Correct answer: Option 1. Audit findings are useful only when tracked to effective remediation. Repeat issues may indicate weak governance or inadequate root-cause correction. Topic area: Integrated Banking Technology — Technology audit finding follow-up.