JAIIB Paper 4 Module B Quiz 9

[Customer Requirements] Voice-of-customer analysis identifies patterns in customer feedback and complaints, enabling targeted service improvements.

[Product Development] Product policy establishes governance for design, approval, launch, monitoring and withdrawal, aligning customer outcomes with risk appetite and applicable rules.

[Product Development] UAT validates that a system or process meets business requirements. It does not prove market success or remove compliance obligations.

[Credit Scoring] Validation tests whether predictions remain calibrated and reliable as populations, products and economic conditions change.

[Retail Liability Products] Recurring deposits support periodic savings over a chosen tenure. Instalment amount, rate and conditions depend on the product.

[Retail Liability Products] A branch transfer should preserve account integrity, customer identification and service standards, using prescribed authentication and documentation.

[Retail Asset Products] A high debt-to-income ratio means much of income is already committed to debt, which may limit further borrowing capacity.

[Credit and Debit Cards] Co-branded cards combine a payment facility with partner branding or benefits under agreed terms and applicable rules.

[Credit and Debit Cards] Prompt blocking reduces misuse risk. The customer should review transactions and follow the bank‘s replacement process.

[Remittance Products] Checking beneficiary details and amount helps prevent misdirected transfers. Secure authentication and fraud awareness are also important.

[Digitisation] NFS provides ATM interconnection and transaction routing among participating institutions.

[AI and Technology] Human escalation is important for complex disputes, vulnerability, complaints and issues the bot cannot reliably resolve.

[Recovery of Retail Loans] DRTs handle specified recovery cases involving banks and financial institutions under the relevant legislation and jurisdictional rules.

[Securitisation] An SPV provides a separate vehicle for holding assets and issuing securities under a legal structure. Its role depends on the transaction framework.

[Credit and Debit Cards] Storing sensitive credentials insecurely increases the risk of card misuse. Customers should never disclose or expose PINs and authentication secrets.

[Retail Liability Products] Recurring deposits support regular periodic savings over a chosen tenure, making them useful for planned future expenses.

[Customer Requirements] Tangibles refer to physical facilities, equipment and appearance. Accuracy, responsiveness and assurance are separate service-quality dimensions.

[Retail Asset Products] Repayment capacity does not cure defects in the proposed security. Legal due diligence is a separate essential part of home-loan appraisal.

[Recovery of Retail Loans] Recovery communications should be accurate, respectful and compliant. Harassment, third-party disclosure and false threats are inappropriate.

[Remittance Products] Authentication codes are confidential and may authorize transactions or access. Customers should contact the bank through verified channels instead.