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Advantages and disadvantages of using different payment methods

Quiz by Ashley Sanelli

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14 questions
Show answers
  • Q1
    Which payment method offers the advantage of immediate transfer of funds?
    Cash
    Digital wallets
    Cheques
    Credit/debit cards
    30s
  • Q2
    Which payment method offers the advantage of earning reward points or cashback?
    Credit/debit cards
    Cheques
    Cash
    Digital wallets
    30s
  • Q3
    Which payment method offers the disadvantage of potential loss or theft of funds?
    Cash
    Credit/debit cards
    Digital wallets
    Cheques
    30s
  • Q4
    Which payment method offers the disadvantage of additional fees or charges?
    Credit/debit cards
    Digital wallets
    Cash
    Cheques
    30s
  • Q5
    Which payment method offers the advantage of easy online shopping?
    Cash
    Digital wallets
    Credit/debit cards
    Cheques
    30s
  • Q6
    Which payment method offers the disadvantage of potential identity theft or fraud?
    Digital wallets
    Cash
    Cheques
    Credit/debit cards
    30s
  • Q7
    What is an advantage of using cash as a payment method?
    Cash can be bulky and heavy to carry
    You can easily track your spending
    Cash cannot be used for online purchases
    Cash can be easily lost or stolen
    30s
  • Q8
    What is an advantage of using a credit card as a payment method?
    Credit card purchases can lead to debt
    You can build a good credit history
    Credit cards are not widely accepted
    Credit cards can be easily lost or stolen
    30s
  • Q9
    What is a disadvantage of using a debit card as a payment method?
    Debit cards have high annual fees
    You may risk overdrawing your bank account
    Debit cards offer limited fraud protection
    Debit cards require a credit check
    30s
  • Q10
    What is an advantage of using a mobile payment app as a payment method?
    Convenience and ease of use
    Mobile payment apps are not widely accepted
    Mobile payment apps cannot be used offline
    Mobile payment apps require a lot of personal information
    30s
  • Q11
    What is a disadvantage of using online bank transfers as a payment method?
    Online bank transfers are time-consuming
    Online bank transfers cannot be done internationally
    There may be fees for transferring money between accounts
    Online bank transfers are not secure
    30s
  • Q12
    What is an advantage of using a prepaid card as a payment method?
    Prepaid cards can be easily hacked
    Prepaid cards have high interest rates
    Prepaid cards cannot be used online
    It helps to control your spending
    30s
  • Q13
    What is a disadvantage of using a check as a payment method?
    Checks require a credit check
    Checks offer limited acceptance
    Checks can be easily forged or altered
    Checks are not commonly used
    30s
  • Q14
    What is an advantage of using a digital wallet as a payment method?
    It provides convenience and quick transactions
    Digital wallets have high transaction fees
    Digital wallets cannot be used for in-store purchases
    Digital wallets require a physical card to be used
    30s

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