08

REVIEW QUESTIONS/ MCQs

PAYMENT SERVICE IN RETAIL BANKING AND OTHER FEE BASED SERVICES

1. Which one of the following is not a Value added fee based service :
a. Issue of a sundry demand drafts
b. Payment through NEFT
( free of charge )
c. Payment through RTGS (chargeable)
d. ATM facility
e. Internet banking and mobile banking
2. Which one is not an example of fee based services:
a. Remittance or payment services
b. Wealth management services
c. Bancassurance
d. Cross selling of other products like
mutual fund
d. Offering Flexi-deposit which is neither pure S/B account nor pure
Term Deposit product
3. In which one of the following ways, a Bankers cheque (also called Pay order or
Managers Cheque) is different from a Demand draft
a. It is drawn on a branch of other bank
b. It is drawn on the branch of same bank
c. It is issued by the same branch and drawn on the same bank branch
d. It is used for outstation payments generally
4. Which one is perfect alternative to overseas Travel card :
a. NEFT
b. American Express Travelers cheques
c. RTGS
d. International Debit card
5. Which one is not an internet based foreign remittance services company:
a. Western Union Financial Services
b. Remit2India
c. Ikobo
d. Ibibo
e. Xoom.com
6. You want to remit Rs.3,000 from your bank account at Gr. Noida speedily the
same day to your relatives account with other bank at other city. Both branches
can remit /receive thru all electronic means. Which one method is the most
suited:
a. ECS
b. NEFT,
c. RTGS,
d. SWIFT
e. Demand draft
7. You want to remit Rs.1,50,000 from your bank account at Gr. Noida speedily the
same day to your relatives account with SBI Mumbai . Both branches can
remit /receive payments thru all electronic means. Which one method is the
most suited:
a. ECS
b. NEFT,
c. RTGS,
d. SWIFT
e. Demand draft
8. You want to remit Rs.5,00,000 from your bank account instantly to your relatives
account with other bank at other city. Both branches can remit /receive thru all
electronic means. Which one method is the most suited:
a. ECS
b. NEFT,
c. RTGS,
d. SWIFT
e. Demand draft

9. You want that your loan EMI of IDBI Bank be paid thru your S/B account with
Corporation Bank. Which one method is the most suited:
a. ECS
b. NEFT,
c. RTGS,
d. SWIFT
e. Demand draft
10.You want to remit USD 10,000 from your UCO Bank account at Gr. Noida
instantly to your sons account with SBI, New York. Both branches can remit
/receive thru all electronic means. Which one method is the most suited:
a. ECS
b. NEFT,
c. RTGS,
d. SWIFT
e. Demand draft
11.Which one of the facilities banks do not provide currently:
a. Mobile banking
b. Bill pay
c. Doorstep DD delivery
d. E Payment of taxes
e. Concierge service
12.Which one is a factor influencing pricing of the fee based services:
a. size of transactions
b. volume of transactions
c. duration of relationship
d. Quality of relationship
e. All of the
above
13.What is the meaning of float funds:
a. Funds not yet deposited with bank
b. Funds under transit from customers
premises to bank
c. Funds deposited with bank for remittance till paid by bank
d. All of the above
e None of the above
14.Which one is not correct for marketing and promotion of fee bases services:
a. These are mostly promoted through non-traditional promotion mix.
b. These are more build on personal relationships.
c. Personal selling is quite prevalent.
d. Public relations activities do not help in promotion of such services.
e. People with high caliber and skills to deliver are required.
15.Which one is not correct in respect of role of a customer in promotion of fee
based services :
a. Customer is other part of the people factor in services marketing
b. A well informed customer can be of more value than an ill informed customer,
hence needs to be educated about services offered.
c. Customer involvement is necessary in the process of service.
d. Customer feedback is useful in improving existing services but not
beneficial for developing new services.