Product Knowledge Quiz April 2019

15 Questions | By Wjshdhan_StCyr | Last updated: May 14, 2019 | Total Attempts: 524

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Questions and Answers

1.

Which product should be offered to a client looking for (1) a low risk, medium term investment; (2) returns while preserving capital; (3) no withdrawal fees; (4) quick and easy access to funds when needed and (5) can be held as collateral?
- A.
  
  A. Advanced Term Deposit
- B.
  
  B. Term Deposit
- C.
  
  C. Mutual Funds
- D.
  
  D. Sure Investor
2.

If invested in this product one can expect (1) capital appreciation on price; (2) income generation from dividends; (3) no minimum holding period; (4) quick and easy access to funds when needed and (5) can be held as collateral. What are
- A.
  
  A. Bonds
- B.
  
  B. Equity
- C.
  
  C. Mutual Funds
- D.
  
  D. Term Deposits
3.

Which of the following are the benefits of investing in Equities? i. Income Generation ii. Capital Appreciation iii. No minimum holding period iv. Cannot be held as collateral
- A.
  
  A. i and iii
- B.
  
  B. All of the above
- C.
  
  C. i, ii and iii
- D.
  
  D. None of the above
4.

As the parent of a university student I am looking for a financial solution which will assist them in meeting term time expenses such as books, school supplies and grocery items. What is a _________________.
- A.
  
  A. Mutual Fund
- B.
  
  B. University PowerPay Facility
- C.
  
  C. Sure Investor
- D.
  
  D. Term Deposit
5.

What is (1) cheaper than using a credit card; (2) safer than carrying around cash; (3) affords the ability to shop online; (4) has an annual fee of $150 and (5) charges no reload fees?
- A.
  
  A. Linx Card
- B.
  
  B. Gold Card
- C.
  
  C. Classic Card
- D.
  
  D. PowerPay Facility
6.

Which of the following would you suggest as the main reason for the opening of a Business Current Account during a financial planning conversation with a client?
- A.
  
  Access to cheque books
- B.
  
  It is illegal to commingle business and personal funds
- C.
  
  An overdraft may be secured
- D.
  
  Funds will be covered by deposit insurance
7.

Integral to a financial planning conversation on retirement planning which products can be offered? i. Mutual Funds ii. Step-up Rate Deposit iii. Sure Investor iv. Fixed Income Solutions
- A.
  
  I and iii
- B.
  
  All of the above
- C.
  
  I and iv
- D.
  
  None of the above
8.

A high net worth individual is interested in investing in global markets while conducting their own research. Which product should he be offered?
- A.
  
  Sure Investor
- B.
  
  Bonds
- C.
  
  JMMB Interactive
- D.
  
  Equities
9.

What will you offer to a client looking for a facility which offers online shopping, competitive interest rate, and a reward tied to the funds utilized?
- A.
  
  PowerPay Facility
- B.
  
  Sure Investor
- C.
  
  Equities
- D.
  
  JMMB Interactive
10.

What should be offered to a client looking for something which is (1) safer than carrying around cash; (2) affords protection with the use of a PIN; (3) does not have an annual fee (4) can be utilized at the ATM and POS
- A.
  
  Linx Card
- B.
  
  Gold Card
- C.
  
  Classic Card
- D.
  
  PowerPay Facility
11.

Which of the following are benefits of the A+ Savings Account? i. Offers interest on balances as low as $25 ii. Safer than carrying around cash iii. Encourages saving and financial discipline iv. Affords the ability to shop online
- A.
  
  I only
- B.
  
  I and II
- C.
  
  I and III
- D.
  
  None of the above
12.

For the saver who is interested in saving for tomorrow with the flexibility of withdrawing funds as needed, which would you offer?
- A.
  
  Term Deposit
- B.
  
  Step-up Rate Deposit
- C.
  
  Booster Savings
- D.
  
  Pro-chequing Account
13.

As a middle income personal banking client wishing to have access to cheques which account would you recommend?
- A.
  
  Business Current
- B.
  
  Pro-chequing
- C.
  
  Private Plus
- D.
  
  Step-up Rate Deposit
14.

An emerging high net worth client desires to have access to cheques. Which account will you recommend?
- A.
  
  Current
- B.
  
  Pro-chequing
- C.
  
  Private Plus
- D.
  
  Step-up Rate Deposit
15.

Your client is interested in owning a home but does not currently have the required down payment. Which account will you recommend?
- A.
  
  Step-up Rate Deposit
- B.
  
  Advanced Term
- C.
  
  Save to Own
- D.
  
  Mutual Funds

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