FM 412 Main Topic 4 Financial Risk Management in E-Banking Quiz

What has been a significant shift in banking practices?

• Higher interest rates

• More cash transactions

• Transition to digital-first approaches

• Increased physical branches

What is one benefit of digital financial services?

• Enhanced accessibility

• Limited customer support

• Higher fees for services

• Increased transaction times

Which of the following is a risk associated with digital financial services?

• Increased customer satisfaction

• More face-to-face interactions

• Higher physical security

• Operational risks

What technology is transforming banking operations?

• Manual record keeping

• Paper-based transactions

• Telegraph systems

• Blockchain technology

What is a proactive measure in risk management?

• Reducing customer education

• Ignoring compliance

• Regular audits

• Waiting for incidents to occur

What does AML stand for in regulatory compliance?

• Asset Management Law

• Advanced Market Liquidity

• Automated Money Loss

• Anti-Money Laundering

What is a significant cybersecurity threat mentioned?

• Increased customer trust

• Data breaches

• Lower transaction costs

• Enhanced security measures

What is one emerging trend in e-banking?

• Decline of digital currencies

• AI in banking

• Return to traditional banking

• Less automation

What was the financial loss from the major bank's data breach?

• $100 million

• $50 million

• $5 million

• $10 million

What is a key aspect of customer awareness in risk management?

• Educating users on secure banking practices

• Reducing customer interaction

• Focusing solely on profits

• Limiting customer access to information