Mobile Banking MCQ with answers

1. What is mobile banking?
a. Banking on mobile phones
b. Banking on personal computers
c. Banking on landline phones
d. Banking through letters

Answer: a. Banking on mobile phones

2. Which of the following is NOT a common feature of mobile banking apps?
a. Fund transfers
b. Mobile check deposit
c. Morse code communication
d. Balance inquiries

Answer: c. Morse code communication

3. What is the primary benefit of mobile banking?
a. Increased paperwork
b. Limited accessibility
c. Convenience and accessibility
d. Slower transaction processing times

Answer: c. Convenience and accessibility

4. What is OTP in the context of mobile banking?
a. One-Time Password
b. Online Transaction Process
c. Over The Phone
d. Open Text Protocol

Answer: a. One-Time Password

5. Which technology is commonly used for secure authentication in mobile banking?
a. QR codes
b. Bluetooth
c. Biometrics
d. Morse code

Answer: c. Biometrics

6. What does USSD stand for in the context of mobile banking?
a. Universal Security and System Database
b. Unstructured Supplementary Service Data
c. United States Software Development
d. User-Specific System Deployment

Answer: b. Unstructured Supplementary Service Data

7. Which of the following is a potentail security concern in mobile banking?

a. Strong encryption
b. Multi-factor authentication
c. Phishing attacks
d. Regular security audits

Answer: c. Phishing attacks

8. What is NFC commonly used for in mobile banking?
a. Network File Conversion
b. Near Field Communication
c. Non-Financial Contact
d. National Financial Consortium

Answer: b. Near Field Communication

9. Which of the following is NOT a type of mobile banking service?
a. Mobile Wallets
b. Mobile Insurance
c. Mobile Payment Apps
d. Mobile Telephony

Answer: d. Mobile Telephony

10. In mobile banking, what does the term “mPIN” refer to?
a. Mobile Personal Identification Number
b. Mobile Public Information Network
c. Money Processing and Identification Number
d. Mobile PINpoint

Answer: a. Mobile Personal Identification Number

11. What is mobile banking?a. Banking using only physical branches
b. Banking using mobile devices
c. Banking using landline phones
d. Banking using email

Answer: b. Banking using mobile devices

12. Which of the following is NOT a common feature of mobile banking apps?
a. Fund transfers
b. Account balance inquiry
c. Video calls with bank staff
d. Bill payments

Answer: c. Video calls with bank staff

13. What is the primary advantage of mobile banking?
a. Limited accessibility
b. Time-consuming transactions
c. Convenient access to banking services
d. Higher fees

Answer: c. Convenient access to banking services

14. What is the process of transferring money from one bank account to another through a mobile device called?
a. Mobile transaction
b. Mobile transfer
c. Mobile deposit
d. Mobile fund transfer

Answer: d. Mobile fund transfer

15. What technology is commonly used for the security of mobile banking transactions?
a. Morse Code
b. Blockchain
c. SMS (Short Message Service)
d. Encryption

Answer: d. Encryption

16. Which of the following is a potential risk associated with mobile banking?
a. Increased convenience
b. Enhanced security
c. Phishing and fraud
d. Better customer service

Answer: c. Phishing and fraud

17. What does the term “m-banking” stand for?
a. Mobile banking
b. Modern banking
c. Money banking
d. Manual banking

Answer: a. Mobile banking