IT Chapter-3
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Questions and Answers

What was the number of Internet Banking transactions in 2020?

  • 1,98,97,516
  • 2,44,30,983 (correct)
  • 27,42,241
  • 32,45,333

    • What is a major challenge faced by banks regarding Internet Banking?

  • Lack of budget for purchasing security tools
  • Dependency on CBS vendor
  • Customer awareness against phishing
  • All of the above (correct)

    • Why do customers get locked with their User ID?

  • Due to frequent security updates
  • Due to forgetfulness of security credentials (correct)
  • Due to frequent password changes
  • Due to lack of technical knowledge

    • What is a limitation of the present Internet Banking system?

    <p>Low fund transfer ceiling</p> Signup and view all the answers

    What is a cyber-attack related challenge faced by banks?

    <p>All of the above</p> Signup and view all the answers

    What is the primary implication of the democratic nature of the Web?

    <p>Lack of quality assurance for information on the Web</p> Signup and view all the answers

    What is the result of the introduction of computer and internet facility in the banking industry?

    <p>Increased adoption of core banking solution (CBS) platform</p> Signup and view all the answers

    What is the significance of 'User beware!' in the context of the Web?

    <p>It highlights the lack of quality assurance for information on the Web</p> Signup and view all the answers

    What is the role of alternative delivery channels in the banking sector?

    <p>To change the day to day operation of the bank</p> Signup and view all the answers

    What is the core banking solution (CBS) platform used for in the banking industry?

    <p>To deliver banking services</p> Signup and view all the answers

    What is the primary role of technology in the banking industry?

    <p>To provide multiple channels for customer communication and behavior analysis</p> Signup and view all the answers

    What is the result of banks' investments in ICT platforms and Information systems?

    <p>All of the above</p> Signup and view all the answers

    What services do banks in Bangladesh offer to their customers?

    <p>Electronic payment services, ATM/POS, Mobile Banking, Internet and Apps Banking, and others</p> Signup and view all the answers

    What is the outcome of banks' establishment of large ATM and POST networks?

    <p>24/7 customer services</p> Signup and view all the answers

    What is the ultimate goal of banks' adoption of technology?

    <p>To become more efficient and profitable</p> Signup and view all the answers

    What is the primary focus of the Bank's Technology initiatives?

    <p>To provide customer convenience banking</p> Signup and view all the answers

    What is the platform that integrates various delivery channels such as ATM, Internet, and Phone?

    <p>Core Banking Solution</p> Signup and view all the answers

    What is one of the functions supported by the CBS?

    <p>Customers Information System</p> Signup and view all the answers

    What is the benefit of the Bank's Technology initiatives?

    <p>Convenience banking on 24 X 7 basis</p> Signup and view all the answers

    What is an example of a delivery channel integrated by the Core Banking Solution platform?

    <p>Kiosk</p> Signup and view all the answers

    What is the main benefit of consolidating customer data, business data, and transactional data for a bank?

    <p>To make informed decisions and improve customer recommendations</p> Signup and view all the answers

    What is the primary function of mobile banking applications?

    <p>To enable customers to access their account from anywhere</p> Signup and view all the answers

    What is a key advantage of advanced security integration in core banking software?

    <p>Enhanced security across all bank verticals</p> Signup and view all the answers

    Why is it important for a banking solution to be able to communicate with customers through SMS or email?

    <p>To inform customers of issues with their account</p> Signup and view all the answers

    What is the benefit of having virtual banking platforms?

    <p>Uninterrupted access to banking activities</p> Signup and view all the answers

    What is the primary function of an ATM card reader?

    <p>To read the chip on the front of the card or the magnetic stripe on the back</p> Signup and view all the answers

    What is the advantage of using an ATM operated directly by the bank that holds the account?

    <p>Avoidance of fees charged for ATM services</p> Signup and view all the answers

    What is the primary purpose of an ATM keypad?

    <p>To input personal identification number (PIN) and transaction details</p> Signup and view all the answers

    What is the primary record of an ATM transaction?

    <p>The printed receipt</p> Signup and view all the answers

    What is the primary benefit of ATMs in terms of banking transactions?

    <p>They enable quick self-service transactions</p> Signup and view all the answers

    What is the primary objective of the IT Department in the bank?

    <p>To provide IT services to the employees of the bank and implement IT development projects</p> Signup and view all the answers

    What is one of the applications integrated with the core banking system?

    <p>All of the above</p> Signup and view all the answers

    What is the purpose of the Data Warehouse?

    <p>To provide critical MIS for timely business decisions</p> Signup and view all the answers

    What is one of the benefits of the core banking system and various initiatives?

    <p>Enhanced customer experience</p> Signup and view all the answers

    What is one of the services provided by the Internet Payment Gateway?

    <p>E-commerce services</p> Signup and view all the answers

    What is the primary function of the IT infrastructure in the bank?

    <p>To provide IT services to the employees of the bank</p> Signup and view all the answers

    What is one of the applications integrated with the core banking system for customer use?

    <p>Phone Banking</p> Signup and view all the answers

    What is the primary role of the IT Department in implementing IT development projects?

    <p>To implement new IT projects</p> Signup and view all the answers

    What is one of the benefits of the core banking system and various initiatives to the customers?

    <p>Improved customer experience</p> Signup and view all the answers

    What is the primary function of the Risk Management application?

    <p>To monitor and manage risks</p> Signup and view all the answers

    What is the primary purpose of a data center in an organization?

    <p>To store and manage business-critical data and applications</p> Signup and view all the answers

    What is a critical component of data center design?

    <p>Data center security</p> Signup and view all the answers

    What is the primary objective of a data center's design?

    <p>To provide a secure environment for data and applications</p> Signup and view all the answers

    What is a critical aspect of a data center's design?

    <p>The assurance of integrity and functionality of the hosted computer environment</p> Signup and view all the answers

    What is the primary role of a data center in an organization?

    <p>To centralize an organization's IT operations</p> Signup and view all the answers

    What is the primary function of authorization in data access control?

    <p>To determine the level of access each user has to the database</p> Signup and view all the answers

    What is the purpose of accounting in data access control?

    <p>To measure the resources used by a user during access</p> Signup and view all the answers

    What is multifactor authentication used for in data access control?

    <p>To verify the user's identity</p> Signup and view all the answers

    What is the primary goal of authentication in data access control?

    <p>To validate the user's identification</p> Signup and view all the answers

    What are the three primary components of data access control?

    <p>Authentication, authorization, and accounting</p> Signup and view all the answers

    What is the primary purpose of outsourcing Technology Operations in a bank?

    <p>To transfer risk and reduce operational costs</p> Signup and view all the answers

    What is a key advantage of outsourcing Front Line IT Support in a bank?

    <p>Improved customer service</p> Signup and view all the answers

    What is the primary role of the ICT department in a bank?

    <p>To develop and maintain the bank's IT infrastructure</p> Signup and view all the answers

    What is the primary benefit of outsourcing Application Development, Maintenance and Testing in a bank?

    <p>Reduced operational costs and improved efficiency</p> Signup and view all the answers

    What is the primary purpose of outsourcing Cash Management and Collections in a bank?

    <p>To reduce operational costs and improve efficiency</p> Signup and view all the answers

    What is the primary implication of the Web's democratic nature?

    <p>Lack of quality assurance for information on the Web</p> Signup and view all the answers

    What is the primary outcome of introducing computer and internet facility in the banking industry?

    <p>Adopting core banking solution (CBS) platform to deliver banking services</p> Signup and view all the answers

    What is the primary role of alternative delivery channels in the banking sector?

    <p>Changing the day-to-day operation of the bank</p> Signup and view all the answers

    What is the primary benefit of the Internet in the context of the banking industry?

    <p>Providing a platform for alternative delivery channels</p> Signup and view all the answers

    What is the primary characteristic of the Web that users should be aware of?

    <p>The Web lacks quality assurance for information</p> Signup and view all the answers

    What is the primary function of a database in an organization?

    <p>To store and retrieve information</p> Signup and view all the answers

    What is the primary purpose of a database management system (DBMS)?

    <p>To enter, organize, and select data in a database</p> Signup and view all the answers

    What is the hierarchy of data organization in a computer system?

    <p>Bit, byte, field, record, file, database</p> Signup and view all the answers

    What is the purpose of a database in an organization?

    <p>To provide information for decision-making</p> Signup and view all the answers

    What is an example of popular database software or DBMS?

    <p>Microsoft Access</p> Signup and view all the answers

    What is the main purpose of the IT Department in terms of IT system security?

    <p>To maintain constant IT system security and analyze IT security incidents</p> Signup and view all the answers

    Which of the following divisions is responsible for developing the IT infrastructure?

    <p>Infrastructure Management Division</p> Signup and view all the answers

    What is the primary function of the IT Department in relation to the Central Bank and supervised financial market participants?

    <p>To keep in contact and coordinate actions with the Central Bank and supervised financial market participants</p> Signup and view all the answers

    What is the purpose of outsourcing IT jobs?

    <p>To delegate some of the organization's in-house operations or processes to a third party</p> Signup and view all the answers

    Which of the following is a function of the IT Department?

    <p>To develop the IT infrastructure and provide project management</p> Signup and view all the answers

    What is the primary benefit of separating the IT Department into divisions?

    <p>To facilitate separation of duties and a better focus on the most critical areas</p> Signup and view all the answers

    What is the primary role of the Chief Information Technology Officer?

    <p>To lead the IT Department and its divisions</p> Signup and view all the answers

    What is the primary function of the IT Department in terms of IT services?

    <p>To look for and procure new hardware and software</p> Signup and view all the answers

    What is the primary benefit of the IT Department's functions?

    <p>To support the bank's operations and branch services</p> Signup and view all the answers

    What is the primary purpose of the IT Department's IT system security checks?

    <p>To identify vulnerabilities in the IT system</p> Signup and view all the answers

    What has enabled banks to meet the high expectations of customers who are more demanding and technologically savvy than their previous generation?

    <p>The uprising of Information Technology</p> Signup and view all the answers

    What is the primary role of ICT in the banking sector in Bangladesh?

    <p>To provide banking solutions to handle accounting and back office needs</p> Signup and view all the answers

    What is the result of technological advancements and the development of global networks in the banking sector?

    <p>The cost of global funds transfer has been significantly reduced</p> Signup and view all the answers

    What is the current status of ICT in the banking sector in Bangladesh?

    <p>ICT is becoming the heart of the banking sector</p> Signup and view all the answers

    What is the impact of technological advancements on the banking industry?

    <p>It has reduced the cost of global funds transfer</p> Signup and view all the answers

    What is the primary function of authentication in data access control?

    <p>To validate the identity of the entity trying to access the database</p> Signup and view all the answers

    What is the purpose of accounting in data access control?

    <p>To measure the resources used by a user during access</p> Signup and view all the answers

    What is multifactor authentication used for in data access control?

    <p>To verify the user's identity</p> Signup and view all the answers

    What are the three primary components of data access control?

    <p>Authentication, Authorization, and Accounting</p> Signup and view all the answers

    What is the primary function of authorization in data access control?

    <p>To determine the level of access each user has to the database and the activities they may perform</p> Signup and view all the answers

    What is a data center primarily used for in an organization?

    <p>Storing and managing business-critical data and applications</p> Signup and view all the answers

    What is a critical component of data center design?

    <p>Firewalls and routers</p> Signup and view all the answers

    What is the primary objective of a data center's design?

    <p>To minimize the chances of a security breach</p> Signup and view all the answers

    What is the primary role of a data center in an organization?

    <p>To centralize an organization's shared IT operations and equipment</p> Signup and view all the answers

    Why is security critical in data center design?

    <p>Because they house an organization's most critical and proprietary assets</p> Signup and view all the answers

    What is the primary benefit of having access to information on the Web?

    <p>Ability to apply discovery capability to various areas</p> Signup and view all the answers

    What is the implication of the democratic nature of the Web?

    <p>Anyone can post information without quality assurance</p> Signup and view all the answers

    What is the result of the introduction of computer and internet facility in the banking industry?

    <p>All banks have adopted a core banking solution (CBS) platform</p> Signup and view all the answers

    What is the primary role of alternative delivery channels in the banking sector?

    <p>To change the day-to-day operation of the bank</p> Signup and view all the answers

    What is the fundamental rule about information on the Web?

    <p>User beware!</p> Signup and view all the answers

    What type of services can a bank outsource according to the IT manual?

    <p>All of the above</p> Signup and view all the answers

    What is the primary role of the ICT department in a bank?

    <p>To manage and maintain the bank's IT systems</p> Signup and view all the answers

    What is outsourcing in the context of banking?

    <p>When a bank contracts out IT services to another company</p> Signup and view all the answers

    What is the importance of data in an organization?

    <p>It is a vital resource that needs to be managed</p> Signup and view all the answers

    What type of services can be outsourced in Technology Operations?

    <p>All of the above</p> Signup and view all the answers

    What is information in the context of data?

    <p>Data that has been processed, organized, and structured</p> Signup and view all the answers

    What is the primary purpose of a database management system (DBMS)?

    <p>To organize and select data in a database</p> Signup and view all the answers

    What is the lowest unit of data in a computer system?

    <p>Bit</p> Signup and view all the answers

    What is a collection of related files in a database?

    <p>Database</p> Signup and view all the answers

    What is an example of a database management system (DBMS)?

    <p>Microsoft Access</p> Signup and view all the answers

    What is the primary role of the IT Department in the bank?

    <p>To develop the IT infrastructure used at the bank</p> Signup and view all the answers

    What is IT outsourcing (ITO)?

    <p>The process of delegating IT operations to a third party</p> Signup and view all the answers

    What is one of the divisions under the IT Department?

    <p>IT Management Division</p> Signup and view all the answers

    What is the primary objective of the IT Department?

    <p>To develop and maintain the IT infrastructure</p> Signup and view all the answers

    What does the IT Department do in relation to IT system security?

    <p>It maintains constant IT system security and analyzes IT security incidents</p> Signup and view all the answers

    What is the role of the Chief Information Technology Officer?

    <p>To lead the IT divisions</p> Signup and view all the answers

    What is one of the functions of the IT Department?

    <p>To procure new hardware and software</p> Signup and view all the answers

    What is the purpose of the IT infrastructure?

    <p>To support the bank's operations</p> Signup and view all the answers

    What does the IT Department do in relation to the Central Bank?

    <p>It keeps in contact and coordinates actions with the Central Bank</p> Signup and view all the answers

    What is one of the functions of the IT Department in relation to supervised financial market participants?

    <p>To keep in contact and coordinate actions</p> Signup and view all the answers

    What is the result of technological advancements and the development of global networks?

    <p>Reduced cost of global funds transfer</p> Signup and view all the answers

    What do customers expect from banks regarding banking services?

    <p>To bank at any time and from any location</p> Signup and view all the answers

    What has become the heart of the banking sector in Bangladesh?

    <p>Information Technology</p> Signup and view all the answers

    What enables banks to meet customer expectations?

    <p>Information Technology</p> Signup and view all the answers

    Who are the customers more demanding and technologically savvy than?

    <p>Their previous generation</p> Signup and view all the answers

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