CBI Exam Quick Notes Questions And Answers

CBI Exam Quick Notes Questions And
Answers
according to Johnson et al. (2017), what are the 5 categories of stakeholders? -
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CORRECT ANSWER-- economic
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- social/political
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- technological
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- community
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- internal
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how are blockchain's used in banking? - CORRECT ANSWER-
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to allow individuals to pay each other without a central clearing point
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how are both AR & VR used in banking? - CORRECT ANSWER-
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this technology is being used, for example, to showcase a bank's digital banking solutions, a
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nd create tools to help customers manage their finances
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how are IoT's used in banking? - CORRECT ANSWER-
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to collect information about customers from the devices they use
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How are loans treated in financial statements? - CORRECT ANSWER-- asset for lender
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- liability for borrower
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how are mobility & wearable technologies used in banking? - CORRECT ANSWER--
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to identify customers using biometrics
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- to collect data about customers
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how are RPA's used in banking? - CORRECT ANSWER-
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to automate repetitive tasks so that people can focus more on serving customers and addin
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g value to their experience
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how can banks keep up with competitors? - CORRECT ANSWER-- replicate
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- innovate
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- collaborate
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,how can the bank rate be used to impact the economy? - CORRECT ANSWER--
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lower rate expands economy by lowering cost of funds for borrowers
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- higher rate reins in the economy when inflation is higher than desired
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how do bank's limit credit risk? - CORRECT ANSWER-- screening
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- monitoring
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- controlling
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how do banks measure credit risks? - CORRECT ANSWER-
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they will apply relevant risk modelling along with the latest credit risk measurement technolo
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gy and techniques
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how do fintechs challenge bigger banks? - CORRECT ANSWER-
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solving customers' problems and improving their banking experience
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how does cloud computing impact banking? - CORRECT ANSWER-
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can help automate workflows, deliver new services faster, boost efficiency and deliver savin
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gs

how does fractional reserve banking work? - CORRECT ANSWER-
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only a fraction of deposits are backed by cash, the rest is used for investing/lending to gener
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ate more income Z Z




how is quantum computing used in banking? - CORRECT ANSWER-
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more accurate and quicker analysis of data with a view of minimising risk and improving cust
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omer service Z




how long does it take for a cheque to clear using a cheque imaging system? -
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CORRECT ANSWER-if paid before cut-off time then by 23:59 the next weekday
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how long does it take for a cheque to clear using a paper-based clearing system? -
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CORRECT ANSWER-6 weekdays
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- 2 days before earning interest
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- 4 days before you can withdraw
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- 6 days before the cheque is 100% cleared
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how much time does the cheque clearing process increase by if the cheque is paid into a po
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st office? - CORRECT ANSWER-1 day extra
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in banking, what are regtech solutions being applied to? - CORRECT ANSWER--
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compliance
- regulatory reporting
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- risk management
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- identity management and control
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- transaction monitoring
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,in regards to cyber attacks, what is ATM attacks? - CORRECT ANSWER--
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FastCash allows fraudulent withdrawal requests Z Z Z Z




- ATMJackpot involves using malware to control the dispensing from an ATM
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- skimmers capture card information when they are entered into an ATM
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in regards to cyber attacks, what is DDoS? - CORRECT ANSWER-
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where the hacker seeks to temporarily or indefinitely disrupt an organisation's network servi
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ces

in regards to cyber attacks, what is insider threats? - CORRECT ANSWER-
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in some cases, attacks come from within an organisation's own network
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in regards to cyber attacks, what is malware? - CORRECT ANSWER-
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software that is used with the intention of damaging or disabling computers and computer sy
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stems without the owner's knowledge Z Z Z Z




in regards to cyber attacks, what is mobile banking attacks? - CORRECT ANSWER-
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fake banking apps and trojans
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in regards to cyber attacks, what is phishing? - CORRECT ANSWER-
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where a criminal pretends to be a reputable organisation or person
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- emails = phishing
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- text = smishing
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- phone calls = vishing
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in regards to cyber attacks, what is ransomware? - CORRECT ANSWER-
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software designed to deny access to files, or threaten to publish victim's data, unless a rans
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om is paid Z Z




in regards to cyber attacks, what is vulnerabilities in SS7? - CORRECT ANSWER-
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exploiting flaws in SS7 so that cyber criminals can intercept text messages, in particular tho
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se which the banks send customers authorising payments from their accounts
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In regards to loans, what is the principal? - CORRECT ANSWER-
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The principal is the amount of the loan
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in regards to the UN Principles for Responsible Banking, what does alignment mean? -
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CORRECT ANSWER- ZZ




we will align our business strategy to be consistent with and contribute to individuals' needs
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and society's goals Z Z




in regards to the UN Principles for Responsible Banking, what does clients & customers me
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an? - CORRECT ANSWER-
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we will work responsibly with our clients and our customers to encourage sustainable practi
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ces and enable economic activities that create shared prosperity for current and future gene
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rations

, in regards to the UN Principles for Responsible Banking, what does governance & culture m
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ean? - CORRECT ANSWER- Z Z ZZ




we will implement our commitment to these principles through effective governance and a c
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ulture of responsible banking Z Z Z




in regards to the UN Principles for Responsible Banking, what does impact & target setting
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mean? - CORRECT ANSWER- Z Z ZZ




we will continuously increase our positive impacts while reducing the negative impacts on p
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eople and environment resulting from our activities, products and services
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in regards to the UN Principles for Responsible Banking, what does stakeholders mean? -
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CORRECT ANSWER- ZZ




we will proactively and responsibly consult, engage and partner with relevant stakeholders t
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o achieve society's goals
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in regards to the UN Principles for Responsible Banking, what does transparency & account
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ability mean? - CORRECT ANSWER- Z Z Z ZZ




we will periodically review our individual and collective implementation of these principles a
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nd be transparent about and accountable for our positive and negative impacts and our cont
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ribution to society's goals Z Z Z




in step 4 of Kidder's checklist for making ethical decisions, how can you test for wrongdoing
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? (test for right vs wrong issues) - CORRECT ANSWER-- the legal test
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- the regulation test
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- the stench test
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- the front-page test
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- the mother test
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in step 6 of Kidder's checklist for making ethical decisions, what are the 3 resolution principl
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es? (apply the resolution principles) - CORRECT ANSWER-- ends based (consequences)
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- rules based (duty)
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- care based (love for others first)
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in step 7 of Kidder's checklist for making ethical decisions, what does the 'trilemma' option m
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ean? (investigate the 'trilemma' option) - CORRECT ANSWER-
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is there a third way through this dilemma? Could be a compromise between two rights, or a s
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olution from thinking outside the box Z Z Z Z Z




of the customer segments suggested by EY (2018) regarding how they feel about and enga
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ge with new technologies, what describes beyond the bundle? - CORRECT ANSWER--
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experienced and informed
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- self-reliant and itching to switch
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