Product Knowledge Quiz April 2019

15 Questions | Total Attempts: 524

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Product Knowledge Quiz April 2019

This is a test scored quiz


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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