CRB CRB Digital Banking & Technology

Question 1

Which authentication method is considered the most secure for online banking access?

Accepted Answer

Multi-factor authentication (MFA)

Answer

Single-factor password

Answer

Security questions only

Answer

PIN-only access

Question 2

What does the term 'omnichannel banking' refer to?

Accepted Answer

Providing a seamless experience across all banking channels

Answer

Offering only mobile banking services

Answer

Operating exclusively through ATMs

Answer

Limiting services to in-branch transactions

Question 3

A customer reports they cannot access their mobile banking app after a recent update. What is the FIRST step a retail banker should take?

Accepted Answer

Verify the customer's identity and check for known system issues

Answer

Advise the customer to change their password immediately

Answer

Transfer the customer to IT support without further assistance

Answer

Close the customer's account for security reasons

Question 4

What is the primary purpose of a bank's core banking system?

Accepted Answer

To process and record all daily banking transactions centrally

Answer

To manage employee payroll

Answer

To generate marketing campaigns

Answer

To handle only mortgage applications

Question 5

Which regulation primarily governs electronic fund transfers and consumer rights in the US?

Accepted Answer

Electronic Fund Transfer Act (EFTA)

Answer

Gramm-Leach-Bliley Act

Answer

Bank Secrecy Act

Answer

Community Reinvestment Act

Question 6

What is 'phishing' in the context of digital banking threats?

Accepted Answer

A fraudulent attempt to obtain sensitive information by impersonating a trusted entity

Answer

A method of fishing for new customers via email marketing

Answer

A software update process for banking applications

Answer

A technique for detecting money laundering