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15 questions
EFT stands for:
electronic funds transfer
email funds transfer
electronic files transfer
ATM stands for:
Automatic teller model
Automatic transfer machine
Automatic teller machine
All of these are not uses of EFT except:
Depositing money
Allows large businesses to pay all their employees their salaries
withdrawing money
ATMS are cash machines which can be used for:
Checking the balance of accounts
Withdrawing money
Pay electricity bills
All of these are advantages of internet banking:
People can spend more time doing other things.
Requires you to have a computer and Internet access to use it.
Can be done at anytime.
All of these are disadvantages of internet banking:
access to a world wide market.
Security issues like phishing and pharming.
easier to make errors.
In telephone banking we can speak with a bank representative.
True
False
Which device is used in EFTPOS?
MICR
OMR
Chip and pin reader
These items of data are found on a debit card:
mobile phone
Expiry date
card number
One of these information will not be found on a cheque:
Signature
PIN
Cheque number
We need these devices to read information written on a cheque:
MICR
OMR
OCR
What type of processing is used to process bank cheques?
Online processing
Real-time processing
Batch processing
Barcodes are used in these applications:
Library book system
automatic stock control system
cheques
ATM’s keyboards are used to enter text.
True
False
Internet banking can only be done during normal bank working hours.
True
False
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