All Courses
Get the App Signup / Login
Sign in Open App
B Com Exam  >  B Com Tests  >  E-Commerce  >  Test: Security and Payment - 1 - B Com MCQ

Test: Security and Payment - 1 - B Com MCQ


Test Description

10 Questions MCQ Test E-Commerce - Test: Security and Payment - 1

Test: Security and Payment - 1 for B Com 2024 is part of E-Commerce preparation. The Test: Security and Payment - 1 questions and answers have been prepared according to the B Com exam syllabus.The Test: Security and Payment - 1 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Security and Payment - 1 below.
Solutions of Test: Security and Payment - 1 questions in English are available as part of our E-Commerce for B Com & Test: Security and Payment - 1 solutions in Hindi for E-Commerce course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Security and Payment - 1 | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study E-Commerce for B Com Exam | Download free PDF with solutions
Test: Security and Payment - 1 - Question 1
Save

What is the primary purpose of electronic payment systems in the context of e-commerce?

Detailed Solution for Test: Security and Payment - 1 - Question 1
Electronic payment systems in the context of e-commerce primarily aim to enable the exchange of goods and services without the need for physical currency. They facilitate online transactions, making it convenient for buyers to pay for products and services electronically.
Test: Security and Payment - 1 - Question 2
Save

Why is prompt and secure payment important in e-commerce?

Detailed Solution for Test: Security and Payment - 1 - Question 2
Prompt and secure payment is crucial in e-commerce because it ensures the smooth flow of the entire business chain. If payment delays or imbalances occur, it can disrupt the entire process, affecting consumers, companies, and banks.
1 Crore+ students have signed up on EduRev. Have you? Download the App
Test: Security and Payment - 1 - Question 3
Save

What is the key benefit of using an intermediary in online payment systems?

Detailed Solution for Test: Security and Payment - 1 - Question 3
The key benefit of using an intermediary in online payment systems is that they resolve uncertainties about security and identity. They provide additional security and authentication layers in electronic transactions.
Test: Security and Payment - 1 - Question 4
Save
In the context of electronic payment systems, what does the term "micropayments" refer to?
Detailed Solution for Test: Security and Payment - 1 - Question 4
Micropayments in electronic payment systems refer to small-denomination payments that need to be processed in real-time, often for very small amounts, such as for snippets of information.
Test: Security and Payment - 1 - Question 5
Save
Which type of payment system involves the transmission of sensitive financial information, such as credit card numbers, along with payment orders?
Detailed Solution for Test: Security and Payment - 1 - Question 5
Payment Based on EFT - Notational Funds Transfer involves the transmission of sensitive financial information, such as credit card numbers, along with payment orders.
Test: Security and Payment - 1 - Question 6
Save
What security requirement ensures that no money can be taken from a user without explicit authorization by that user in a payment system?
Detailed Solution for Test: Security and Payment - 1 - Question 6
Authorization in a payment system ensures that no money can be taken from a user without their explicit authorization. It's a fundamental security requirement.
Test: Security and Payment - 1 - Question 7
Save
In an electronic payment system, what does the term "confidentiality" refer to?
Detailed Solution for Test: Security and Payment - 1 - Question 7
In an electronic payment system, "confidentiality" refers to the restriction of information about transactions only to the participants involved, ensuring that sensitive data is not disclosed to unauthorized parties.
Test: Security and Payment - 1 - Question 8
Save
What is the primary advantage of digital currency payment systems?
Detailed Solution for Test: Security and Payment - 1 - Question 8
The primary advantage of digital currency payment systems is that they provide anonymity and convenience, similar to paper money. Users can make payments without revealing their identities.
Test: Security and Payment - 1 - Question 9
Save
Why is trust in intermediaries important in notational funds transfer systems in electronic payments?
Detailed Solution for Test: Security and Payment - 1 - Question 9
Trust in intermediaries is important in notational funds transfer systems because intermediaries handle sensitive payment information on behalf of users, ensuring security and authenticity in transactions.
Test: Security and Payment - 1 - Question 10
Save
What is the main challenge for payment systems that rely on notational funds transfer over the open Internet?
Detailed Solution for Test: Security and Payment - 1 - Question 10
The main challenge for payment systems that rely on notational funds transfer over the open Internet is dealing with the inherently less secure nature of the open Internet, as it is more susceptible to various security threats compared to private networks.
100 videos|55 docs|19 tests
Join Course
Information about Test: Security and Payment - 1 Page
In this test you can find the Exam questions for Test: Security and Payment - 1 solved & explained in the simplest way possible. Besides giving Questions and answers for Test: Security and Payment - 1, EduRev gives you an ample number of Online tests for practice
100 videos|55 docs|19 tests
Join Course
Download as PDF

Important Questions for Security and Payment - 1

Find all the important questions for Security and Payment - 1 at EduRev.Get fully prepared for Security and Payment - 1 with EduRev's comprehensive question bank and test resources. Our platform offers a diverse range of question papers covering various topics within the Security and Payment - 1 syllabus. Whether you need to review specific subjects or assess your overall readiness, EduRev has you covered. The questions are designed to challenge you and help you gain confidence in tackling the actual exam. Maximize your chances of success by utilizing EduRev's extensive collection of Security and Payment - 1 resources.

Security and Payment - 1 MCQs with Answers

Prepare for the Security and Payment - 1 within the B Com exam with comprehensive MCQs and answers at EduRev. Our platform offers a wide range of practice papers, question papers, and mock tests to familiarize you with the exam pattern and syllabus. Access the best books, study materials, and notes curated by toppers to enhance your preparation. Stay updated with the exam date and receive expert preparation tips and paper analysis. Visit EduRev's official website today and access a wealth of videos and coaching resources to excel in your exam.

Online Tests for Security and Payment - 1 E-Commerce

Practice with a wide array of question papers that follow the exam pattern and syllabus. Our platform offers a user-friendly interface, allowing you to track your progress and identify areas for improvement. Access detailed solutions and explanations for each test to enhance your understanding of concepts. With EduRev's Online Tests, you can build confidence, boost your performance, and ace Security and Payment - 1 with ease. Join thousands of successful students who have benefited from our trusted online resources.
© EduRev
Education Revolution
Follow Us
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup