Opay Past Questions and Answers

Opay Past Questions and Answers

Here are 20 questions about oPay, along with options and answers:

What does "oPay" stand for?

a) Online Payment

b) Open Payment

c) Over-the-Counter Payment

d) Offline Payment

Answer: b) Open Payment

Which of the following is NOT a typical use case for oPay?

a) Online shopping

b) Paying bills

c) Sending emails

d) Booking travel tickets

Answer: c) Sending emails

What technology is commonly used for secure oPay transactions?

a) Blockchain

b) Artificial Intelligence

c) Virtual Reality

d) Augmented Reality

Answer: a) Blockchain

Which cryptocurrency is often used in oPay transactions?

a) Bitcoin

b) Ethereum

c) Ripple

d) Litecoin

Answer: a) Bitcoin

What is a common benefit of using oPay for online purchases?

a) Immediate delivery

b) Cashback rewards

c) No need for an internet connection

d) Lower product prices

Answer: b) Cashback rewards

Which of the following is an example of a peer-to-peer oPay service?

a) PayPal

b) Visa

c) Mastercard

d) American Express

Answer: a) PayPal

What is a digital wallet in the context of oPay?

a) A physical wallet with cash

b) A wallet made of leather

c) A software application for storing payment information

d) A metal wallet

Answer: c) A software application for storing payment information

Which oPay method is typically used for contactless payments at physical stores?

a) QR code

b) Check

c) Money order

d) Cash

Answer: a) QR code

What is a chargeback in oPay?

a) A discount on purchases

b) A way to transfer money between accounts

c) A reversal of a transaction due to a dispute

d) A payment made in advance

Answer: c) A reversal of a transaction due to a dispute

Which organization or group is responsible for regulating oPay systems in many countries?

a) United Nations

b) World Health Organization

c) Financial Services Authority

d) International Monetary Fund

Answer: c) Financial Services Authority

Which of the following is NOT a common security measure in oPay transactions?

a) Two-factor authentication

b) Encryption

c) Public sharing of payment details

d) Identity verification

Answer: c) Public sharing of payment details

What does "CVV" stand for in the context of oPay?

a) Central Verification Value

b) Cardholder Verification Value

c) Cryptographic Virtual Verification

d) Card Verification Volume

Answer: b) Cardholder Verification Value

Which country is known for using WeChat Pay and Alipay as popular oPay methods?

a) United States

b) China

c) United Kingdom

d) Canada

Answer: b) China

What is a common advantage of using cryptocurrencies in oPay?

a) High transaction fees

b) Centralized control by a government

c) Fast and borderless transactions

d) Lack of transparency

Answer: c) Fast and borderless transactions

Which type of oPay allows users to make purchases and pay for them at a later date, often with interest?

a) Digital wallets

b) Buy now, pay later (BNPL)

c) Cryptocurrency

d) Mobile payments

Answer: b) Buy now, pay later (BNPL)

What is the primary purpose of an oPay gateway in e-commerce?

a) Handling customer support inquiries

b) Processing payments and authorizing transactions

c) Providing product recommendations

d) Creating marketing campaigns

Answer: b) Processing payments and authorizing transactions

Which of the following is a key challenge in the adoption of oPay in developing countries?

a) Widespread access to traditional banking services

b) Reliable and fast internet connectivity

c) High levels of financial literacy

d) Limited access to smartphones and digital infrastructure

Answer: d) Limited access to smartphones and digital infrastructure

In the context of oPay, what does "POS" stand for?

a) Point of Sale

b) Proof of Service

c) Payment Order System

d) Purchase of Shares

Answer: a) Point of Sale

What is a common alternative to oPay when making international money transfers?

a) Carrier pigeons

b) Telepathy

c) Bank wire transfers

d) Smoke signals

Answer: c) Bank wire transfers

Which of the following is NOT a common oPay security practice?

a) Regularly updating passwords

b) Sharing payment information on public forums

c) Monitoring account activity

d) Using secure and trusted payment platforms

Answer: b) Sharing payment information on public forums.