GB Mixed-1

What do commercial banks collect from the general public?

Investments
Taxes
Deposits (correct)
Loans

What is the main objective of commercial banks in Bangladesh?

To issue credit cards
To provide loans to entrepreneurs
To mobilize capital to productive fields (correct)
To facilitate international trade

Why is it necessary for bank employees to keep themselves updated with new skills and knowledge?

To respond to changing banking and finance landscape (correct)
To reduce their workload
To increase their salary
To improve customer service

What is the role of the General Banking department in a financial institution?

To link with all other departments (C) Signup and view all the answers

What do banks provide to depositors?

Security and interest on deposits (D) Signup and view all the answers

Why is it important to focus on general banking in the banking industry?

Because it holds the major part of overall banking activities (C) Signup and view all the answers

What is the challenge faced by commercial banks in Bangladesh?

Increasing competition (D) Signup and view all the answers

What is the result of the rapidly changing world of banking and finance?

Bank employees need to update their skills (A) Signup and view all the answers

Why is customer service in banking under pressure?

Owing to the failure to handle the soaring demands and expectations of the customers (C) Signup and view all the answers

What is the main importance of customer service in banking?

To keep customers coming back (B) Signup and view all the answers

What is involved in customer service in banking?

Responding to customers, addressing questions and complaints in a thorough and timely manner (C) Signup and view all the answers

Who is dependent on whom in the banking industry?

The banker is dependent on the customer (C) Signup and view all the answers

Why do banks continually strive for improvements in customer service?

Because they have a wide variety of competitors for business (D) Signup and view all the answers

What is an example of a technique used to improve customer service?

Taking customer surveys (D) Signup and view all the answers

What is the relationship between customer service and the profitability of a bank?

Customer service is a priority objective of a bank along with its profitability (C) Signup and view all the answers

Who should have direct involvement with customer service quality?

The Managing Authority of each bank/FI (A) Signup and view all the answers

What is the purpose of a letter of probate?

To confirm the validity of a will (B) Signup and view all the answers

Who is responsible for looking after a deceased's property when there is no will?

Administrator appointed by the court (D) Signup and view all the answers

What is the role of a personal representative?

To realize the assets and pay off debts of the deceased (D) Signup and view all the answers

What is the difference between an executor and an administrator?

An executor is appointed by the will, while an administrator is appointed by the court (A) Signup and view all the answers

What is the purpose of a tenant's copy of the tenancy agreement?

To be attested by the President/Executive Director of the educational institution (C) Signup and view all the answers

What document must an executor obtain from the court?

Letter of probate (D) Signup and view all the answers

Who signs the account opening form and specimen signature card when opening an account as an executor or administrator?

The executor or administrator themselves (C) Signup and view all the answers

What is the primary responsibility of an executor or administrator?

To realize the assets and pay off debts of the deceased (C) Signup and view all the answers

Who is the person who draws a bill?

Drawer (A) Signup and view all the answers

What is a cheque typically drawn on?

A specified banker (A) Signup and view all the answers

What is a characteristic of a cheque?

It is a negotiable instrument that can pass from one hand to another easily (B) Signup and view all the answers

Why is a cheque considered a safe method of payment?

Because the transfer cost is low and the possibility of loss is minimum (C) Signup and view all the answers

What documents are required to open a bank account?

Account Opening Form, Specimen Signature Card, and Mandate (C) Signup and view all the answers

What is a material alteration in relation to a cheque?

Alteration of the date or sum (A) Signup and view all the answers

What is the main objective of KYC standards in banking?

To reduce reputational risk and protect the integrity of the banking system (B) Signup and view all the answers

Who is the person to whom the amount is payable?

Payee (C) Signup and view all the answers

What is the drawee also known as?

Acceptor (B) Signup and view all the answers

What is the purpose of KYC procedures in banking?

To accumulate complete and accurate information about customers (A) Signup and view all the answers

What is a bill of exchange that is not expressed to be payable otherwise than on demand?

Cheque (A) Signup and view all the answers

Why is it essential to verify the identity of a prospective customer?

To reduce the risk of terrorist financing and other unlawful activities (A) Signup and view all the answers

What is the process of verifying a customer's identity?

A cumulative process (B) Signup and view all the answers

What is the importance of obtaining identification documents from customers?

To obtain difficult-to-obtain documents (A) Signup and view all the answers

What is the role of KYC policies and procedures in banks?

To reduce reputational risk and protect the integrity of the banking system (D) Signup and view all the answers

What is the goal of an effective KYC program in banks?

To reduce the risk of money laundering and terrorist financing (A) Signup and view all the answers

What is the primary challenge faced by banks in ensuring their sustainability in the financial industry?

Managing fraudulent activities and malpractices (B) Signup and view all the answers

What is the main objective of implementing stringent compliance requirements in banking?

To prevent fraudulent activities and malpractices (A) Signup and view all the answers

Why are banks perceived to be more fragile than non-financial organizations?

Due to their vulnerability to fraudulent activities (C) Signup and view all the answers

What is the main reason for legislative measures in banking?

To handle the challenges of malpractices and frauds (D) Signup and view all the answers

What is the main focus of general banking in the banking industry?

To prevent fraudulent activities and malpractices (C) Signup and view all the answers

Why are malpractices particularly detrimental to banks?

Because they can undermine the bank's stability (A) Signup and view all the answers

What is the main challenge in general banking?

Fraud and malpractices (C) Signup and view all the answers

What is the primary importance of adequate attention to associated risks in general banking?

To prevent fraudulent activities and malpractices (D) Signup and view all the answers

What is the primary purpose of deposit mobilization in banking?

To attract deposits from various customer groups (C) Signup and view all the answers

What is the significance of customer due diligence in banking?

To verify the identity of a prospective customer (B) Signup and view all the answers

What is the main source of funds for banks?

Deposits from retail and corporate customers (C) Signup and view all the answers

What is the primary objective of banks in diversifying their sources of funds?

To reduce dependence on funds from other banks (C) Signup and view all the answers

What is the purpose of introducing several deposit schemes by banks?

To attract deposits from various customer groups (C) Signup and view all the answers

What is the role of a banker in a banking relationship?

To maintain a contractual relationship with customers (A) Signup and view all the answers

What is the significance of customer complaint management in banking?

To resolve customer complaints and improve customer service (B) Signup and view all the answers

What is the purpose of a bank's management in diversifying its sources of funds?

To reduce dependence on funds from other banks (C) Signup and view all the answers

What is the main objective of forming a separate framework for customer services and complaint management in banks?

To improve the quality of customer services (C) Signup and view all the answers

At what level will the Central Customer Service & Complaints Management Cell (CCS & CMC) be constituted?

Head office level (A) Signup and view all the answers

Who will be responsible for supervising the Central Customer Service & Complaints Management Cell (CCS & CMC)?

All of the above (D) Signup and view all the answers

What is the primary function of the Branch Level Customer Service & Complaints Management Desk (BLCS & CMD)?

To deal with all the complaints directly received from the customers (C) Signup and view all the answers

Who will be the personnel of the Central Customer Service & Complaints Management Cell (CCS & CMC)?

Dignitaries with adequate power to settle disputes (B) Signup and view all the answers

What will be the main responsibility of the personnel of the Central Customer Service & Complaints Management Cell (CCS & CMC)?

To settle disputes with due diligence (B) Signup and view all the answers

What is the main difference between the existing complaint cells and the Central Customer Service & Complaints Management Cell (CCS & CMC)?

The CCS & CMC will be exclusively for dealing with complaints and customer service related matters (B) Signup and view all the answers

What will be the criteria for determining the number of personnel of the Central Customer Service & Complaints Management Cell (CCS & CMC)?

The decision of the Managing Authority of the bank (D) Signup and view all the answers

What is the minimum duration of time between deposit and payment of first dividend/interest?

30(Thirty) days (B) Signup and view all the answers

What is the interest rate charged on lending against lien of FDR account?

3% above (B) Signup and view all the answers

What is the nature of Fixed Deposit Receipt (FDR)?

100% Time Deposit (C) Signup and view all the answers

What is the minimum amount for which permission is required from EVP, Treasury Division, HO, for corporate deposit?

tk. 1,00,00,000 (D) Signup and view all the answers

Who can be a target group for corporate deposit?

Any individual person, businessman, firm, Limited Companies, Local Bodies, Corporation, Corporate bodies etc. (A) Signup and view all the answers

What is the mode of payment of first dividend/interest?

Encashment may be made by PO, DD or transferring to Account. (A) Signup and view all the answers

What happens in case of premature encashment before 1 year?

Depositor will not be entitled to get monthly dividend (C) Signup and view all the answers

What is the tenor of Fixed Deposit Receipt (FDR)?

1 month, 3 months, 06 months, 12 Month, 2 Year, 3 Year (B) Signup and view all the answers

When a company is the judgment-debtor, what is the limitation of an order attaching the accounts of the liquidator?

The money belongs to the liquidator but not to the company (C) Signup and view all the answers

What happens when a garnishee order does not name the customer correctly or with sufficient accuracy?

The bank is not responsible for passing cheques till the order is amended (C) Signup and view all the answers

What is the condition for attaching a customer's account with a credit balance?

The net result is in credit (D) Signup and view all the answers

What is the bank's right when a customer has multiple accounts with different balances?

The right to set-off (A) Signup and view all the answers

What is the limitation of the bank's right of set-off?

The bank cannot appropriate the credit balance towards the contingent liabilities (B) Signup and view all the answers

What is the effect of a garnishee order on a credit balance in a loan account?

The credit balance cannot be adjusted (C) Signup and view all the answers

What is the result when a customer has multiple accounts with different balances and a garnishee order is served?

The bank attaches the net result of all accounts (B) Signup and view all the answers

What is the bank's responsibility when a garnishee order is served and the customer has multiple accounts?

The bank has to combine all accounts and attach the net result (C) Signup and view all the answers