BFM A - Unit 10 - Motivational Banker

1. Which of the following characteristics are evident in adoption of technology in Banking?

Speed and Accuracy

Ease of doing business

Reduction in manpower

All of the above.

Question 1 of 32

2. Which of the following factors are mainly influential and matter the most for banks in undertaking digitizing their services?

readiness to re-assigning, re-training and if need be, recruiting additional resources.

making the bank more relevant to Customers with flexible financial products and services.

becoming pro-active and agile to market sentiments and competition.

Driving the team towards increased businesses and to react to the changing market conditions.

Question 2 of 32

3. Which of the following is NOT an objective of understanding technology in international banking?

Understanding the evolution of FINTECH

Learning about blockchain technology in documentary credits

Exploring traditional banking practices

Understanding delivery channels in international ba. nking

Question 3 of 32

4. What is a crucial element in the transformation of operating models and the evolution of a bank's business and IT architecture?

Customer service training

Digital capabilities assessment

Increased regulatory compliance

Development of physical branches

Question 4 of 32

5. Which factor is NOT mentioned as a consideration in upgrading a bank's digital re-engineering plans?

Flexibility in financial products

Speed versus in-house talent

Expansion of physical branches

Developing digital ecosystems and platforms

Question 5 of 32

6. What is a key strategy for banks to increase customer experience and business growth in international banking?

Relying solely on traditional banking practices

Implementing rigid digital systems

Reengineering architecture to support digital banking

Ignoring technology advancements

Question 6 of 32

7. Which of the following is NOT mentioned as a potential challenge for banks in the digital revolution?

Competition from startups and internet giants

Increased regulations

Lack of customer interest in digital banking

Need for digital reengineering

Question 7 of 32

8. During which period in the evolution of technology in international banking did manual banking activities dominate due to illiteracy among the population?

Pre-nationalization period

Post-nationalization period

1980 onwards

Internet banking era

Question 8 of 32

9. In which period did the government nationalize 14 banks in India to extend banking services to all corners of the country?

Pre-nationalization period

Post-nationalization period

1980 onwards

Internet banking era

Question 9 of 32

10. Which technological development marked the transition from manual banking activities to the introduction of computers in banking during the 1980s?

Introduction of ATMs

Implementation of Internet Banking

Launch of Advanced Ledger Posting Machines (ALPMs)

Introduction of Debit Cards

Question 10 of 32

11. What is cited as a limitation of technology in international banking?

Accuracy and speed

Lower transaction costs

Technical glitches

Compliance with regulations

Question 11 of 32

12. Which era saw the introduction of Internet banking, ATMs, credit cards, and debit cards, leading to the transition to online banking?

Pre-nationalization period

Post-nationalization period

1980 onwards

Internet banking era

Question 12 of 32

13. Under the digitized platform, filing of transactions relating to equity investments (FDI) by overseas Investors into Indian companies is handled through..........Portal?

EDPMS Portal

IDPMS Portal

FIRMS Portal

ODI Portal

Question 13 of 32

14. Which of the following activities are not supported under the EDPMS Platform?

Reporting of Realization of export bills

Reporting of Submission of export documents to the AD Bank

Reporting of Overdue Export bills

Reporting of Service Exports

Question 14 of 32

15. Which of the following import transactions are not supported under the IDPMS Platform?

Direct remittances towards Imports of goods

Remittances towards Imports on goods Collection basis

Remittances towards Service Imports

Remittances towards Import of goods under Documentary Credits

Question 15 of 32

16. Who can initiate online money transfers using the digital platform?

Only Indian residents

Only overseas banks

NRIs and overseas banks from FATF compliant countries

Individuals residing in FATF non-compliant countries

Question 16 of 32

17. What is a requirement for NRIs to use the Internet Banking Platform for inward remittances?

Providing proof of Indian residency

Obtaining approval from the Reserve Bank of India

Registering on the platform and obtaining login credentials from their bank

Maintaining a minimum balance in their Indian bank account

Question 17 of 32

18. Which of the following is NOT listed as a benefit of using the online inward remittance platform?

Quick and seamless transfers from any country (FATF compliant)

Fixed and fair exchange rates

Access to exclusive investment opportunities

24/7 customer support

Question 18 of 32

19. What is requirement for the remitter regarding regulatory guidelines?

Compliance with FATF regulations

Approval from the Reserve Bank of India

Maintaining a record of remittance transactions

Providing personal identification documents

Question 19 of 32

20. Which of the following is NOT mentioned as a benefit of using the Outward Remittances Online portal?

Quick and seamless transfers

Secure facility for transfer of money

Access to exclusive investment opportunities

Compliance with regulatory guidelines

Question 20 of 32

21. What is the purpose of the Trade Finance Portal?

Providing real-time exchange rates

Facilitating inward remittances for exporters

Handling trade transactions such as imports and exports online

Reporting export data to regulatory authorities

Question 21 of 32

22. What is the purpose of the FIRMS Portal?

Handling inward remittances for investee companies

Reporting foreign investments received by investee companies

Providing real-time exchange rates for foreign investments

Facilitating online filing of export data

Question 22 of 32

23. Assigning repetitive tasks through technology & streamline workflows through FINTECH is referred to as

Artificial Intelligence

Big data

Robotics Process Automation

Block chain management

Question 23 of 32

24. Which of the following is not a prioritized activities under Artificial Intelligence?

Identify customers better - prospecting, sourcing, underwriting - templated structures.

Source business better - cash flows, business models, structures

Business Intelligence of the Clients

Statistics and data collection

Question 24 of 32

25. Which of the following is not supported under Blockchain Technology in the area of International Trade Finance?

Invoice Factoring

AML Reviews

Customer on-boarding

Issuance of all types of transport documents

Question 25 of 32

26. Which of the following is not a limitation for the Banks to adopt aggressive technology?

Bearing costs in IT infrastructure.

Creating awareness amongst customers because of the widespread reach.

Handholding bank personnel in respect of shift towards technology during transition.

Security issues evolving during the course of transition.

Question 26 of 32

27. Which amongst the following is the ultimate & topmost objective of any Bank in introducing robust digital technology?

Ensure increase in businesses.

Ensure increase in profitability.

Ensure value addition to the customers.

Ensure compliances to regulatory guidelines

Question 27 of 32

28. The Foreign Exchange Rate Portal under the Digitized Dealing room environment, provides to the Corporates, all the following facilities except....?

directly log on to the Bank's Internet Banking Platform and access the Foreign Exchange Rate Portal.

directly access the dealing room on a real-time basis for booking their foreign exchange transactions.

directly interact with the dealers and get advisory on the movement of rates in the IB market.

exchange of deal slips, settlement and reconciliation of the foreign exchange transactions.

Question 28 of 32

29. Which of the following are the key benefits that could be experienced by the Corporates exploring usage of the Digital Trade Portal?

bulk upload facility of all the trade transactions at the corporate level.

approval of the transactions by the corporate online through maker-checker facility.

copies of advices, ready reference to debit and credit entries, etc.

all of the above

Question 29 of 32

30. Artificial Intelligence is most prominently used in all the following areas except....?

Mobile banking 24/7 access

fund transfers

customer Relationship Management

customer Complaints

Question 30 of 32

31. The system of recording information in a way that makes it difficult or near to impossible to change, hack, or cheat the system is called?

Network Secure System

Blockchain System

SWIFT system

Connectivity system

Question 31 of 32

32. What technology-supported feature is mentioned regarding the IDPMS platform?

System-based caution listing of exporters

Real-time rate quotation for foreign exchange

Multiple outward remittances settlement against single Bill of Entry

Issuance of e-BRC for export proceeds

Question 32 of 32

BFM A – Unit 10

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