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Questions and Answers
Which of the following best describes the relationship between banks and their clients?
Which of the following best describes the relationship between banks and their clients?
- A legal relationship
- A contractual relationship
- A fiduciary relationship (correct)
- A financial relationship
What is the supreme responsibility of banks in their relationship with customers?
What is the supreme responsibility of banks in their relationship with customers?
- Protecting customers' deposits (correct)
- Providing financial advice
- Ensuring fast and efficient service
- Offering competitive interest rates
What would be considered a violation of the fiduciary relationship between banks and their clients?
What would be considered a violation of the fiduciary relationship between banks and their clients?
- Maintaining secrecy about customers
- Providing favors to certain clients (correct)
- Impartial and non-discriminatory dealings
- Ensuring utmost good faith and due diligence
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