Preview Questions Retail Banker | Role Specific Skill

Question 1: Under RBI regulations, what is the penalty for failing to adhere to AML compliance guidelines?

Which action should you take?

Choose only one option

Financial penalty and legal action

Operational warning only

Immediate loan cancellation

Suspension of bank branches

Question 2: What is the primary purpose of the Know Your Customer (KYC) regulation in the BFSI industry?

Which action should you take?

Choose only one option

To determine the interest rates for loans and deposits

To prevent money laundering and terrorism financing

To increase the number of customer accounts opened

To establish banking fees for customer services

Question 3: When interacting with a client from a diverse background, what should a Retail Banker be particularly mindful of?

Which action should you take?

Choose only one option

Assuming all clients from a similar background have the same needs

Being culturally sensitive and understanding their unique financial needs

Focusing only on the client's financial status, ignoring cultural factors

Providing only standardized solutions to ensure fairness

Question 4: How often should banks update KYC information for high-risk clients?

Which action should you take?

Choose only one option

Every 2 years

Every 6 months

Every 10 years

Every 5 years

Question 5: What is the importance of understanding a client's time horizon in investment planning?

Which action should you take?

Choose only one option

It eliminates the need for diversification

It guarantees the client meets all financial goals

It determines the level of risk and appropriate asset allocation

It ensures equal investment in equities and fixed income

Question 6: Which regulation mandates financial institutions to establish robust anti-money laundering (AML) programs?

Which action should you take?

Choose only one option

Basel III

Bank Secrecy Act (BSA)

General Data Protection Regulation (GDPR)

Dodd-Frank Act