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Procedures of Banking Products Quiz

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Procedures of Banking Products Quiz

Josh June 25, 2024

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Question 1 of 10

1. Question
1. How does the KYC process contribute to banking stability?
- a) Discourages multiple accounts
- b) Prevents fraud and money laundering
- c) Limits transactions
- d) Promotes anonymity
Correct

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Question 2 of 10

2. Question
2. What’s the role of trust in banking relationships?
- a) Fosters long-term relationships and stability
- b) Governed by legal agreements
- c) Leads to dissatisfaction
- d) Solely customer's responsibility
Correct

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Question 3 of 10

3. Question
3. How do banks balance convenience and security?
- a) Prioritize convenience
- b) Implement stringent measures
- c) Leverage technology for secure services
- d) Limit access
Correct

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Question 4 of 10

4. Question
4. Why close inactive or fraudulent accounts?
- a) Increases identity theft risk
- b) Complicates management
- c) Prevents unauthorized activities
- d) Encourages multiple accounts
Correct

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Question 5 of 10

5. Question
5. Retail vs. investment banking: why differentiate?
- a) Diversifies risks
- b) Limits services
- c) Promotes risk-taking
- d) Discourages innovation
Correct

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Question 6 of 10

6. Question
6. Tech advancements and financial inclusion:
- a) Exacerbate disparities
- b) Reduce efficiency
- c) Extend services to underserved
- d) Increase complexity
Correct

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Question 7 of 10

7. Question
7. How do banks balance profit and social responsibility?
- a) Prioritize profit
- b) Disregard social responsibility
- c) Adopt sustainable practices
- d) Rely on regulations
Correct

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Question 8 of 10

8. Question
8. Role of regulation in banking stability:
- a) Establishes rules for transparency
- b) Stifles innovation
- c) Unnecessary
- d) Increases crises risk
Correct

Incorrect
Question 9 of 10

9. Question
9. Risk mitigation in lending:
- a) Imposes strict criteria
- b) Discourages lending
- c) Implements robust risk management
- d) Prioritizes profitability
Correct

Incorrect
Question 10 of 10

10. Question
10. Public trust in banking stability:
- a) Maintains confidence and prevents runs
- b) Irrelevant
- c) Undermines stability
- d) Solely customer's responsibility
Correct

Incorrect

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