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Question 1 of 20
1. Question
A bank conducts its own survey of customers to measure satisfaction with mobile banking. The responses collected directly are:
Correct
Primary data are collected first-hand by the investigator for the specific study. A survey commissioned and conducted by the bank is primary data for that bank.
Incorrect
Primary data are collected first-hand by the investigator for the specific study. A survey commissioned and conducted by the bank is primary data for that bank.
Unattempted
Primary data are collected first-hand by the investigator for the specific study. A survey commissioned and conducted by the bank is primary data for that bank.
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Question 2 of 20
2. Question
An investment grows by 10% in year one and falls by 10% in year two. Which method best calculates its average annual growth rate over the two years?
Correct
For compounded growth, the geometric mean of growth factors is appropriate: √(1.10×0.90) − 1 ≈ −0.5% per year. Arithmetic averaging of +10% and −10% would incorrectly suggest 0%.
Incorrect
For compounded growth, the geometric mean of growth factors is appropriate: √(1.10×0.90) − 1 ≈ −0.5% per year. Arithmetic averaging of +10% and −10% would incorrectly suggest 0%.
Unattempted
For compounded growth, the geometric mean of growth factors is appropriate: √(1.10×0.90) − 1 ≈ −0.5% per year. Arithmetic averaging of +10% and −10% would incorrectly suggest 0%.
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Question 3 of 20
3. Question
A scatter diagram shows points tightly clustered around an upward-sloping straight line. This suggests:
Correct
An upward linear pattern indicates positive correlation, and tight clustering indicates that the linear association is strong.
Incorrect
An upward linear pattern indicates positive correlation, and tight clustering indicates that the linear association is strong.
Unattempted
An upward linear pattern indicates positive correlation, and tight clustering indicates that the linear association is strong.
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Question 4 of 20
4. Question
If actual demand is 120 units and forecast demand is 110 units, actual minus forecast equals:
Correct
Forecast error under the stated convention actual minus forecast is 120 − 110 = +10, meaning actual demand exceeded the forecast by 10 units.
Incorrect
Forecast error under the stated convention actual minus forecast is 120 − 110 = +10, meaning actual demand exceeded the forecast by 10 units.
Unattempted
Forecast error under the stated convention actual minus forecast is 120 − 110 = +10, meaning actual demand exceeded the forecast by 10 units.
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Question 5 of 20
5. Question
A sample mean of ₹42,000 is used to estimate the population‘s average monthly salary. ₹42,000 is the:
Correct
A point estimate is a single numerical value calculated from sample data to estimate an unknown population parameter.
Incorrect
A point estimate is a single numerical value calculated from sample data to estimate an unknown population parameter.
Unattempted
A point estimate is a single numerical value calculated from sample data to estimate an unknown population parameter.
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Question 6 of 20
6. Question
A bank uses a computer model to generate thousands of possible daily cash-demand outcomes under uncertain withdrawals. This is an example of:
Correct
Simulation imitates a real or hypothetical system using a model and repeated runs to study behaviour under uncertainty.
Incorrect
Simulation imitates a real or hypothetical system using a model and repeated runs to study behaviour under uncertainty.
Unattempted
Simulation imitates a real or hypothetical system using a model and repeated runs to study behaviour under uncertainty.
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Question 7 of 20
7. Question
If two events are mutually exclusive, then:
Correct
Mutually exclusive events cannot occur together, so their intersection is empty and P(A∩B)=0.
Incorrect
Mutually exclusive events cannot occur together, so their intersection is empty and P(A∩B)=0.
Unattempted
Mutually exclusive events cannot occur together, so their intersection is empty and P(A∩B)=0.
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Question 8 of 20
8. Question
Team A has 10 staff with average score 60; Team B has 40 staff with average score 90. The combined mean is:
Correct
Combined mean = (10×60 + 40×90)/50 = (600+3600)/50 = 84.
Incorrect
Combined mean = (10×60 + 40×90)/50 = (600+3600)/50 = 84.
Unattempted
Combined mean = (10×60 + 40×90)/50 = (600+3600)/50 = 84.
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Question 9 of 20
9. Question
For X~Binomial(n=10,p=0.3), what is the variance?
Correct
Binomial variance = np(1−p) = 10×0.3×0.7 = 2.1.
Incorrect
Binomial variance = np(1−p) = 10×0.3×0.7 = 2.1.
Unattempted
Binomial variance = np(1−p) = 10×0.3×0.7 = 2.1.
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Question 10 of 20
10. Question
The 95th percentile of simulated annual losses is most directly interpreted as:
Correct
The 95th percentile is a loss level at or below which approximately 95% of simulated outcomes fall; about 5% of outcomes exceed it, subject to simulation quality.
Incorrect
The 95th percentile is a loss level at or below which approximately 95% of simulated outcomes fall; about 5% of outcomes exceed it, subject to simulation quality.
Unattempted
The 95th percentile is a loss level at or below which approximately 95% of simulated outcomes fall; about 5% of outcomes exceed it, subject to simulation quality.
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Question 11 of 20
11. Question
A researcher uses RBI-published historical tables on bank deposits for a study. These figures are best described as:
Correct
The researcher is reusing data already collected and published by another institution, so they are secondary data for this study.
Incorrect
The researcher is reusing data already collected and published by another institution, so they are secondary data for this study.
Unattempted
The researcher is reusing data already collected and published by another institution, so they are secondary data for this study.
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Question 12 of 20
12. Question
For averaging speeds over equal distances, which average is generally appropriate?
Correct
When equal distances are travelled at different speeds, total distance divided by total time produces the harmonic mean of the speeds.
Incorrect
When equal distances are travelled at different speeds, total distance divided by total time produces the harmonic mean of the speeds.
Unattempted
When equal distances are travelled at different speeds, total distance divided by total time produces the harmonic mean of the speeds.
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Question 13 of 20
13. Question
In a bank‘s model predicting loan-processing time from application complexity, regression is primarily used to:
Correct
Regression models the relationship between a response variable and one or more explanatory variables and can be used for estimation or prediction.
Incorrect
Regression models the relationship between a response variable and one or more explanatory variables and can be used for estimation or prediction.
Unattempted
Regression models the relationship between a response variable and one or more explanatory variables and can be used for estimation or prediction.
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Question 14 of 20
14. Question
A fair six-sided die is rolled once. What is the probability of obtaining an even number?
Correct
The even outcomes are 2, 4 and 6: three favourable outcomes out of six equally likely outcomes, so probability = 3/6 = 1/2.
Incorrect
The even outcomes are 2, 4 and 6: three favourable outcomes out of six equally likely outcomes, so probability = 3/6 = 1/2.
Unattempted
The even outcomes are 2, 4 and 6: three favourable outcomes out of six equally likely outcomes, so probability = 3/6 = 1/2.
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Question 15 of 20
15. Question
Which statement best describes a confidence interval?
Correct
A confidence interval gives a range of plausible values for a population parameter using a procedure with a stated long-run coverage level, subject to assumptions.
Incorrect
A confidence interval gives a range of plausible values for a population parameter using a procedure with a stated long-run coverage level, subject to assumptions.
Unattempted
A confidence interval gives a range of plausible values for a population parameter using a procedure with a stated long-run coverage level, subject to assumptions.
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Question 16 of 20
16. Question
Monte Carlo simulation generates outcomes primarily by using:
Correct
Monte Carlo methods use repeated random sampling from specified probability distributions or stochastic processes to estimate outcomes and risk.
Incorrect
Monte Carlo methods use repeated random sampling from specified probability distributions or stochastic processes to estimate outcomes and risk.
Unattempted
Monte Carlo methods use repeated random sampling from specified probability distributions or stochastic processes to estimate outcomes and risk.
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Question 17 of 20
17. Question
A portfolio has two mutually exclusive borrower groups: Group A is 60% of accounts with default probability 2%; Group B is 40% with default probability 5%. What is the overall default probability?
Correct
Using the law of total probability: 0.60×0.02 + 0.40×0.05 = 0.012 + 0.020 = 0.032, or 3.2%.
Incorrect
Using the law of total probability: 0.60×0.02 + 0.40×0.05 = 0.012 + 0.020 = 0.032, or 3.2%.
Unattempted
Using the law of total probability: 0.60×0.02 + 0.40×0.05 = 0.012 + 0.020 = 0.032, or 3.2%.
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Question 18 of 20
18. Question
An amount grows by factors 1.21 and 1.00 over two successive periods. The geometric mean growth factor per period is:
Correct
The geometric mean factor is √(1.21×1.00)=1.10, equivalent to a 10% average compounded growth rate per period.
Incorrect
The geometric mean factor is √(1.21×1.00)=1.10, equivalent to a 10% average compounded growth rate per period.
Unattempted
The geometric mean factor is √(1.21×1.00)=1.10, equivalent to a 10% average compounded growth rate per period.
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Question 19 of 20
19. Question
For a Poisson distribution, the parameter λ represents:
Correct
λ is the expected number of events in the specified interval and is also the variance under the Poisson model.
Incorrect
λ is the expected number of events in the specified interval and is also the variance under the Poisson model.
Unattempted
λ is the expected number of events in the specified interval and is also the variance under the Poisson model.
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Question 20 of 20
20. Question
Why should a bank avoid making a decision solely from a statistically significant result?
Correct
Statistical significance does not necessarily imply practical importance, causation or sound data. Decisions should also consider effect size, assumptions, costs and business context.
Incorrect
Statistical significance does not necessarily imply practical importance, causation or sound data. Decisions should also consider effect size, assumptions, costs and business context.
Unattempted
Statistical significance does not necessarily imply practical importance, causation or sound data. Decisions should also consider effect size, assumptions, costs and business context.