RETAIL BANKING MCQ- APPLICABILITY OF RETAIL BANKING CONCEPTS
Q,51. Discuss the bank's product/service life cycle?
a. Introduction-growthanddecline
b. Introduction-growthandmaturity
c. Introduction-maturityanddecline
d. Introduction-growth-maturityanddecline
Q52. At which life cycle any bank should aim for keeping the product/service for larger period?
a. Maturitystage
b. Growthstage
c. Introductionstage
d. Allabove
Q.53. At which stage of life cycle of a product the sales volume are low and revenues are insufficient?
a) Introduction
b) Growth
c) Maturity
d) Decline
Q54. Atwhichstageoflifecycleofaproduct, thereislikelihoodofbreakevenpointandgenerationofprofittostart?
a. Maturity
b. Introduction
c. Maturity
d. Decline
Q.55. When the sales or incomes volume are at peak in the life cycle of a product or service?
a. Introduction
b. Growth
c. Maturity
d. Decline
Q36. Aproductbecomelessattractivefor the customers due tovariousreasons. Atwhichstage of life cycle ofaproductor servicethis happens?
a. Introduction
b. Decline
c. Maturity
d. Competitions
Q.57. Some products will have an instant death immediately, at which stage?
a. Introductionphase
b. Declinephase
c. Consumerperception phase
d. Maturityphase
Q38. Product/service life cycle depends on?
a. Coreservice
b. Augmentedproduct
c. Subsidiary Service
d. Both (a) and (b)
Q.59. in banks what are core products or services?
a. Internet banking and mobilebanking
b. Life Insurance products selling
c. Savings /current/term deposits and group health products
d. Demand and time deposits and group health products
Q.60. Whichkindofbankproductsandservicesneedarisesformarketingorientation?
a. Coreproducts
b. Augmentedproducts
c. Remittances
d. RTGS
Q.61. What are the various types of products, which a bank is required to market?
a. LiabilityProduct/Asset Products/RemittanceServices/feebased services
b. Deposits-Products/Retail Credit Products/Deposit Services
c. Liability Product/Retail Credit Products/banassurance
d. Both (a) and (c)
Q. 2, Why KYC norms have been made compulsory in banks while opening accounts?
a. Name, address of the customer and source of funds
b. Identity and genuineness address verification and risk perception
c. Both (a) and (b)
d. To know the biographical/professional personal and debt profile of the customer
Q.63 Advise an asset product which is required to be adjusted in a very short time?
a. Demand Loan
b. Bill Finance
c. Guarantees
d. Overdraft
Q64. Tick an asset product which is self liquidating?
a. Overdraft
b. 610 Finance
c. Credit Card receivables
d. Personal Loan
Q.65. Services which a bank provides under remittances?
a. Draft-bankers' cheques
b. NEFT and RTGS
c. Drafts/bankers cheques/telegraphic transfer
d. Both (c) and (b)
Q.66. What are Non-Fund Based services by the banks?
a. Letter of Guarantee and Letter of Credit
b. Sanction letters
c. Loans and advances
d. Drafts and Telegraphic Transfer
Q.67. Mark the features of a Letter of Credit?
a. No fund outlay+Liability depends upon the happening of an event
b. Accepts the liability of the customer
c. On future date the liability may not crystatise
d. Fund facility and can augment bank's income
Q.68. What are the stages in new product architecture?
a. Ideageneration/ideascreening/conceptstesting
b. Concept testing/business analysis and market analyze /test of marketing
c. Idea screening/idea generation/test marketing and commercialisation
d. Both(b) and(c)
Q.69. There is actual products development example in PS8s in recent years called deposit cum credit linked product for women, what its features are?
a. Opening of are recurring deposit account and availing loan in fixed multiples of R.D A/c installment
b. Opening of a fixed deposit account for 3 years and availing loan in fixed multiples of FDR
c.Opening of a savings bank a/c with balance of Rs.1000 and availing loan of Rs.5000 repayable in 30 monthly instalment
d. Open any deposit account and after 3 months avail loan as per women's husband's monthly income.
Q.70.New Product/Service development is very easy,but subject to certain constraints.What are those constraints?
a. Heterogeneity of customers and product obsolescence due to technological revolution
b. Bigger product range/difficult to convert easy ideas into product development/resistance from bank employees due to increase in the workload
c. Homogenous customers in Metros and widercompetitionfrom other banks
d. Both (a) and (b) only
Q.71. What are the generic unbranded products in banks?
a. Savingsaccount/termdeposits/currenta/c
b. Demand Loans/termloans/guarantees
c. Letter of Credit/recurring deposit/issue of demand drafts
d. All above
Q.72. in product management, the expected product/service has the incorporation featureslike -
a. Customerexpectations
b. Bankerexpectations
c. Customerbankerexpectations
d. Competitor's productand bankers' strategies
Q.73 When any voluntary improvements are made by banks in their products in order to market them what is this called?
a. Potential Product
b. Augmented Product
c. Expected Product
d. Generic Product
Q.74. Everything that might be done to attract and hold customers under product development, is called?
a. Augmented Product
b. Generic Product
c. Expected Product
d. Potential Product
Q.75. One of the main tasks in product management is called?
a. Product Management
b. Product Development
c. Product Policy
d. Product Evolution
Q.76. What are the concepts in Product Policy?
a. Appraisal or review of product and individual products
b. Decisions on product differentiation and positioning
c. Packaging and brand decisions and new product development
d. Both (a) and (c)
e. Both (a) to (c)
Q.77. Appraisal of product line and individual products is essential, where there is change in customer's?
a. Environment/preferences
b. Change in bank's policy due to change in top management
c. Priorities
d. All above
Q.78. Decisions on product differentiation means?
a. Differentiating features of product/alongwith the unique selling proposition
b. Differentiating benefits and satisfaction to customers
(c) Both (a) + (b)
(d) None of above
Q.79. Unique Selling Proposition (USP) is nothing but?
a. Value addition to the product
b. Differentiation strategy of the product
c. Higher income to the bank/vendor
d. Edge over the customers
Q.80. What is product positioning?
a. Positioning is what you do to the product
b. Positioning as the art of selecting out of a number of unique selling proposition
c. Positioning is non-understanding of prospective or existing customers mind
d. Both (a) and (b)
Q.81. In product policy marketing what is the most important?
a. Branding
b. Positioning
c. Differentiation
d. Reviews of product
Q.82. Branding is very powerful tool in marketing. Why is this important for banks?
a. Relationship Building
b. Competitive Positioning
c. Creates prospective-customer's awareness
d) Both (a) + (b) only
e) All (a) to (c)
Q.83. In marketing, when catchy and attractive names for the products are accorded by the bank, then what is this called?
a) Art of selection
b) Branding for relationship building ,
c) Edge over competitors
d) Customer preferences
Q.84. What is true in product development?
a. Customers are different and their needs are different
b. Customers are different and each customer in will have different sets of need for financial services
c. Needs of customers are uniform though customer themselves are different
d. Both (a) + (b)
a. Introduction-growthanddecline
b. Introduction-growthandmaturity
c. Introduction-maturityanddecline
d. Introduction-growth-maturityanddecline
Q52. At which life cycle any bank should aim for keeping the product/service for larger period?
a. Maturitystage
b. Growthstage
c. Introductionstage
d. Allabove
Q.53. At which stage of life cycle of a product the sales volume are low and revenues are insufficient?
a) Introduction
b) Growth
c) Maturity
d) Decline
Q54. Atwhichstageoflifecycleofaproduct, thereislikelihoodofbreakevenpointandgenerationofprofittostart?
a. Maturity
b. Introduction
c. Maturity
d. Decline
Q.55. When the sales or incomes volume are at peak in the life cycle of a product or service?
a. Introduction
b. Growth
c. Maturity
d. Decline
Q36. Aproductbecomelessattractivefor the customers due tovariousreasons. Atwhichstage of life cycle ofaproductor servicethis happens?
a. Introduction
b. Decline
c. Maturity
d. Competitions
Q.57. Some products will have an instant death immediately, at which stage?
a. Introductionphase
b. Declinephase
c. Consumerperception phase
d. Maturityphase
Q38. Product/service life cycle depends on?
a. Coreservice
b. Augmentedproduct
c. Subsidiary Service
d. Both (a) and (b)
Q.59. in banks what are core products or services?
a. Internet banking and mobilebanking
b. Life Insurance products selling
c. Savings /current/term deposits and group health products
d. Demand and time deposits and group health products
Q.60. Whichkindofbankproductsandservicesneedarisesformarketingorientation?
a. Coreproducts
b. Augmentedproducts
c. Remittances
d. RTGS
Q.61. What are the various types of products, which a bank is required to market?
a. LiabilityProduct/Asset Products/RemittanceServices/feebased services
b. Deposits-Products/Retail Credit Products/Deposit Services
c. Liability Product/Retail Credit Products/banassurance
d. Both (a) and (c)
Q. 2, Why KYC norms have been made compulsory in banks while opening accounts?
a. Name, address of the customer and source of funds
b. Identity and genuineness address verification and risk perception
c. Both (a) and (b)
d. To know the biographical/professional personal and debt profile of the customer
Q.63 Advise an asset product which is required to be adjusted in a very short time?
a. Demand Loan
b. Bill Finance
c. Guarantees
d. Overdraft
Q64. Tick an asset product which is self liquidating?
a. Overdraft
b. 610 Finance
c. Credit Card receivables
d. Personal Loan
Q.65. Services which a bank provides under remittances?
a. Draft-bankers' cheques
b. NEFT and RTGS
c. Drafts/bankers cheques/telegraphic transfer
d. Both (c) and (b)
Q.66. What are Non-Fund Based services by the banks?
a. Letter of Guarantee and Letter of Credit
b. Sanction letters
c. Loans and advances
d. Drafts and Telegraphic Transfer
Q.67. Mark the features of a Letter of Credit?
a. No fund outlay+Liability depends upon the happening of an event
b. Accepts the liability of the customer
c. On future date the liability may not crystatise
d. Fund facility and can augment bank's income
Q.68. What are the stages in new product architecture?
a. Ideageneration/ideascreening/conceptstesting
b. Concept testing/business analysis and market analyze /test of marketing
c. Idea screening/idea generation/test marketing and commercialisation
d. Both(b) and(c)
Q.69. There is actual products development example in PS8s in recent years called deposit cum credit linked product for women, what its features are?
a. Opening of are recurring deposit account and availing loan in fixed multiples of R.D A/c installment
b. Opening of a fixed deposit account for 3 years and availing loan in fixed multiples of FDR
c.Opening of a savings bank a/c with balance of Rs.1000 and availing loan of Rs.5000 repayable in 30 monthly instalment
d. Open any deposit account and after 3 months avail loan as per women's husband's monthly income.
Q.70.New Product/Service development is very easy,but subject to certain constraints.What are those constraints?
a. Heterogeneity of customers and product obsolescence due to technological revolution
b. Bigger product range/difficult to convert easy ideas into product development/resistance from bank employees due to increase in the workload
c. Homogenous customers in Metros and widercompetitionfrom other banks
d. Both (a) and (b) only
Q.71. What are the generic unbranded products in banks?
a. Savingsaccount/termdeposits/currenta/c
b. Demand Loans/termloans/guarantees
c. Letter of Credit/recurring deposit/issue of demand drafts
d. All above
Q.72. in product management, the expected product/service has the incorporation featureslike -
a. Customerexpectations
b. Bankerexpectations
c. Customerbankerexpectations
d. Competitor's productand bankers' strategies
Q.73 When any voluntary improvements are made by banks in their products in order to market them what is this called?
a. Potential Product
b. Augmented Product
c. Expected Product
d. Generic Product
Q.74. Everything that might be done to attract and hold customers under product development, is called?
a. Augmented Product
b. Generic Product
c. Expected Product
d. Potential Product
Q.75. One of the main tasks in product management is called?
a. Product Management
b. Product Development
c. Product Policy
d. Product Evolution
Q.76. What are the concepts in Product Policy?
a. Appraisal or review of product and individual products
b. Decisions on product differentiation and positioning
c. Packaging and brand decisions and new product development
d. Both (a) and (c)
e. Both (a) to (c)
Q.77. Appraisal of product line and individual products is essential, where there is change in customer's?
a. Environment/preferences
b. Change in bank's policy due to change in top management
c. Priorities
d. All above
Q.78. Decisions on product differentiation means?
a. Differentiating features of product/alongwith the unique selling proposition
b. Differentiating benefits and satisfaction to customers
(c) Both (a) + (b)
(d) None of above
Q.79. Unique Selling Proposition (USP) is nothing but?
a. Value addition to the product
b. Differentiation strategy of the product
c. Higher income to the bank/vendor
d. Edge over the customers
Q.80. What is product positioning?
a. Positioning is what you do to the product
b. Positioning as the art of selecting out of a number of unique selling proposition
c. Positioning is non-understanding of prospective or existing customers mind
d. Both (a) and (b)
Q.81. In product policy marketing what is the most important?
a. Branding
b. Positioning
c. Differentiation
d. Reviews of product
Q.82. Branding is very powerful tool in marketing. Why is this important for banks?
a. Relationship Building
b. Competitive Positioning
c. Creates prospective-customer's awareness
d) Both (a) + (b) only
e) All (a) to (c)
Q.83. In marketing, when catchy and attractive names for the products are accorded by the bank, then what is this called?
a) Art of selection
b) Branding for relationship building ,
c) Edge over competitors
d) Customer preferences
Q.84. What is true in product development?
a. Customers are different and their needs are different
b. Customers are different and each customer in will have different sets of need for financial services
c. Needs of customers are uniform though customer themselves are different
d. Both (a) + (b)
Answer-
51
|
D
|
52
|
A
|
53
|
A
|
54
|
C
|
55
|
C
|
56
|
B
|
57
|
C
|
58
|
D
|
59
|
C
|
60
|
A
|
61
|
A
|
62
|
C
|
63
|
D
|
64
|
B
|
65
|
D
|
66
|
A
|
67
|
A
|
68
|
B
|
69
|
A
|
70
|
D
|
71
|
D
|
72
|
A
|
73
|
B
|
74
|
B
|
75
|
C
|
76
|
E
|
77
|
A
|
78
|
C
|
79
|
A
|
80
|
B
|
81
|
A
|
82
|
E
|
83
|
B
|
84
|
B
|
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