NAB Digital Banking 1

Question 1

What is two-factor authentication in online banking?

Accepted Answer

A security process requiring two different forms of verification to access an account

Answer

Two-factor authentication adds an extra security layer by requiring something you know (password) plus something you have (phone for a code) or something you are (fingerprint).

Question 2

What should you do if you suspect unauthorized transactions on your account?

Accepted Answer

Contact your bank immediately to report the suspicious activity and freeze the account if necessary

Answer

Immediate reporting limits your liability for unauthorized transactions and allows the bank to investigate and prevent further fraud.

Question 3

What is a phishing attack in the context of banking?

Accepted Answer

A fraudulent attempt to obtain sensitive information by disguising as a trustworthy entity

Answer

Phishing uses fake emails, texts, or websites that appear to be from your bank to trick you into revealing passwords, account numbers, or other sensitive data.

Question 4

What is mobile check deposit?

Accepted Answer

A feature allowing you to deposit checks by photographing them with your smartphone

Answer

Mobile check deposit lets you photograph both sides of a check with your phone's camera and submit the images through your banking app for deposit.

Question 5

What is a peer-to-peer (P2P) payment service?

Accepted Answer

A platform that allows individuals to send money directly to each other electronically

Answer

P2P services like Venmo, Zelle, and PayPal allow individuals to transfer money directly to each other using email addresses or phone numbers.

(NAB) National Australia Bank Practice Test

(NAB) National Australia Bank Practice Test

NAB Digital Banking 1