CBP - Certified Banking Professional Digital Banking and Technology Questions and Answers

Question 1

A bank is seeking to automate its initial loan qualification process to provide faster decisions for online applicants.
Which technology is MOST effective for analyzing large volumes of applicant data against lending criteria to produce an instant 'pre-approved,' 'denied,' or 'needs further review' recommendation?

Accepted Answer

Artificial Intelligence (AI) and Machine Learning (ML)

Answer

Distributed Ledger Technology (DLT)

Answer

Biometric Authentication

Answer

Application Programming Interfaces (APIs)

Question 2

A customer uses their smartphone's digital wallet to pay at a retail store by tapping the device on the point-of-sale terminal. This 'tap-to-pay' functionality is made possible by which underlying short-range wireless technology?

Accepted Answer

Near Field Communication (NFC)

Answer

Bluetooth

Answer

Global Positioning System (GPS)

Answer

QR (Quick Response) Code

Question 3

A small business needs to make an urgent payment to a supplier on a Saturday to ensure a critical shipment is released. The funds must be received and available in the supplier's account within seconds. Which payment system should the business use?

Accepted Answer

Real-Time Payments (RTP) Network

Answer

Standard ACH Transfer

Answer

Paper Check

Answer

Traditional Wire Transfer

Question 4

Which of the following best describes the core principle of 'Open Banking'?

Accepted Answer

Allowing customers to securely share their financial data with authorized third-party providers through Application Programming Interfaces (APIs).

Answer

Mandating that banks use only open-source software for their core systems to increase transparency.

Answer

Requiring financial institutions to open more physical branches in low-income neighborhoods.

Answer

A business model where banks primarily operate through a network of independent agents rather than employees.

Question 5

A bank is investing in new software to automate the monitoring of transactions for suspicious activity and to streamline the generation of reports required by regulators for AML and KYC compliance. This category of technology is best known as:

Accepted Answer

RegTech

Answer

FinTech

Answer

InsurTech

Answer

PropTech

Question 6

In the context of digital banking cybersecurity, which of the following attack methods relies on deceiving a customer into voluntarily disclosing their login credentials, often through a fraudulent email or text message that appears to be from their bank?

Accepted Answer

Social Engineering (Phishing/Smishing)

Answer

Distributed Denial-of-Service (DDoS) Attack

Answer

Malware Injection

Answer

Zero-Day Exploit