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Advanced Wealth Management Course (IIBF) - Paper 6

Ch 4: Ancillary Services and Retail Banking

Q1.

In “Tele-Banking” Password is known as:

PAN

TIN

IPIN

Q2.

Now, a customer can use ATM of other bank (where he is not maintaining any account):

Yes, unlimited without any charge

Yes, only if both the banks have tie-up arrangement under SPNS (Shared Payment Network System)

Yes, but he will have to pay certain charges on each transaction

Yes, but he will have to pay charges if transactions in a month are more than 5 and total amount withdrawn exceeds Rs.10,000.

Q3.

For hiring a safe deposit locker in a Bank:

Customer may be asked to have fixed deposit of such amount whose annual interest can cover locker rent.

Customer should be a permanent resident at the given address for the last 5 years.

Customer is required to deposit a minimum of Rs. 10,000 as deposit

Customer should have a satisfactorily run account for the last two years.

Q4.

DEMAT account is opened in a bank:

For Mobile Banking

For on-line trading of shares

For Inter-net Banking

For Tele-Banking

Q5.

Business Facilitator cannot do the following business:

Follow-up of recovery

Identification of borrowers

Promotion and nurturing Self-Help Groups

Accepting of cash from the customers of the bank for depositing in Bank

Q6.

“Cross Selling” by bank means:

Selling products of their clients

Organizing marketing campaign of its own products

Selling products of life and general insurance and mutual funds

Selling products of other banks

Q7.

Remittances by a customer through RTGS (Real Time Gross Settlement) can be done:

Through Private Sector Banks only

Through branches of a bank where Core Banking Solution is in process

Through RBI only

Through foreign banks only

Q8.

The Securities and Exchange Board of India (SEBI) mandates a demat account for share trading above

100 shares

250 shares

500 shares

1000 shares

Q9.

The minimum amount to be remitted through RTGS is

Rs. 25,000

Rs. 50,000

Rs. 75,000

Rs. 1 lac

Q10.

The minimum amount to be remitted through NEFT is

Rs. 1,000

Rs. 5,000

Rs. 10,000

No minimum limitation

Q11.

Through NEFT, the commission for Outward Payment is __________ for amount less than Rs. 1 lac.

Flat Rs. 5

Flat Rs. 10

Flat Rs. 20

Flat Rs. 50

Q12.

(I) RTGS is on net settlement basis. (II) NEFT is on gross settlement basis.

Both the statements are correct

Only statement (I) is correct

Only statement (II) is correct

Both the statements are wrong

Q13.

Through NEFT, how much amount can be transferred per transaction?

Rs. 1 lac

Only up to Rs. 1 lac

Only up to Rs. 2 lacs

Rs. 2 lacs

Q14.

The currency trading begins Monday morning in

London

New York

Japan

Sydney

Q15.

Gift Cards are issued for a minimum of

Rs. 100

Rs. 500

Rs. 1000

Rs. 2000

Q16.

Credit card customers are typically extended an unsecured credit at least up to

28 days

25 days

30 days

31 days

Q17.

The currency exchange market is an inter-dealer market that was established in

1971

1970

1973

1979

Q18.

Stop-Loss specifies that the trade should be closed automatically when the currency exchange rate for the currency pair in question reaches a certain threshold.

True

False

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