Preferred Banking Frontline Readiness Equiz
Our refreshed Preferred Banking Customer Value Proposition strives to deliver the following benefits:
• More Rewards: Earn reward points faster, redeem rewards at great discounts, exclusively for Preferred Customers.
• More Convenient: Breeze, a powerful online banking platform that makes banking simpler and allows you to pay bills from over 250 organisations – most in town.
• More Personal: Access to a team of Preferred Bankers at the 24-hour Preferred Banking Service Line.
- 1.
Which of the following describes the new Preferred Banking Customer Value Proposition?
- A.
Earn reward points when one has a mortgage holding with SCB but no Preferred Banking MastercardWorld Credit Card
- B.
Access to a team of Preferred Bankers at 24-hour Priority Banking Service Line
- C.
Enjoys convenience when he pays his credit card bills via Breeze Online
- D.
Enjoys interest free (up to S$6,000) for his Overdraft facility.
Correct Answer
C. Enjoys convenience when he pays his credit card bills via Breeze OnlineExplanation
Option A is wrong as Relationship Rewards for Preferred Banking customer only applies to Preferred Banking Mastercard World Credit Card customers.
Option B is wrong as the line should be Preferred Banking Service Line.
Option D is wrong as the Preferred Overdraft is interest free for up to S$3,000.Rate this question:
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- 2.
Customer earns an annual income of S$45k p.a. with no mortgage loan with the SCB. Which of the following scenarios is true for one to qualify as a Preferred Banking customer?
- A.
Customer has S$40k AUM in investments with SCB
- B.
Customer has S$80k AUM in deposits with SCB
- C.
Customer has an unsecured loan of S$20k with SCB
- D.
Customer plans to take up a S$500,000 mortgage loan with SCB
Correct Answer
B. Customer has S$80k AUM in deposits with SCBExplanation
To become a Preferred Banking customer, one must fulfil one of the following criteria:
- a minimum if S$50,000 in deposits and/or investments or
- annual income of S$72,000 p.a. or
- mortgage loan of S$600,000Rate this question:
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- 3.
Which of the following products do customer (Annual Income of S$80k p.a, AUM S$72k) qualify to apply?
- A.
Preferred Banking MastercardWorld Credit Card
- B.
Preferred Current Account
- C.
Preferred Overdraft (opt in)
- D.
Preferred Mastercard Debit Card (if opt in)
Correct Answer(s)
A. Preferred Banking MastercardWorld Credit Card
B. Preferred Current Account
C. Preferred Overdraft (opt in)
D. Preferred Mastercard Debit Card (if opt in)Explanation
The customer with an annual income of S$80k p.a and AUM of S$72k qualifies to apply for the Preferred Banking Mastercard World Credit Card, Preferred Current Account, Preferred Overdraft (opt in), and Preferred Mastercard Debit Card (if opt in).Rate this question:
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- 4.
What is the minimum average daily balance within Preferred Current Account?
- A.
S$6,000
- B.
S$0
- C.
S$1,000
- D.
S$1,500
Correct Answer
A. S$6,000Explanation
The minimum average daily balance within a Preferred Current Account is S$6,000. This means that in order to maintain this type of account, the account holder must have an average daily balance of at least S$6,000. Having a higher average daily balance may provide additional benefits or features associated with the Preferred Current Account.Rate this question:
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- 5.
What is the pre-condition for customer to enjoy 2% cashback at point of sale?
- A.
Customer must have a Preferred Current Account
- B.
Customer must have a payroll or maintain a minimum daily balance of S$6,000 in Preferred Current Account
- C.
Customer must use signature based debit card at point of sale
- D.
Customer must have S$50k AUM with SCB
Correct Answer(s)
A. Customer must have a Preferred Current Account
B. Customer must have a payroll or maintain a minimum daily balance of S$6,000 in Preferred Current Account
C. Customer must use signature based debit card at point of saleExplanation
To enjoy 2% cashback at the point of sale, the customer must have a Preferred Current Account, have a payroll or maintain a minimum daily balance of S$6,000 in the Preferred Current Account, and use a signature-based debit card at the point of sale. Additionally, there is no mention of the customer needing to have S$50k AUM with SCB, so this is not a pre-condition for the cashback.Rate this question:
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- 6.
What is the Rewards Multiplier for a customer who holds Preferred Banking MasterWorld (MCW) Credit Card & Preferred Current Account in the following scenarios?John was upgraded to Priority Banking (CSI PRBN) and spends S$1,000 on his MCW card monthly
- A.
1X
- B.
1.5X
- C.
2X
- D.
2.5X
Correct Answer
A. 1X -
- 7.
John is a Preferred Banking customer with Preferred MastercardWorld (MCW) Credit Card. He also holds the following product holdings with SCB:- Preferred Current Account of S$6K- e$avers of AUM $20k- Time Deposits of S$50k- Unit Trust of S$50kEach month, he would make his StarHub Mobile bills via Breeze Online. He also pays his DBS credit card bills via Internet BankingHow much Relationship Reward points will John receive by end of the month?
- A.
1,500 reward points
- B.
1,250 reward points
- C.
1,000 reward points
- D.
750 reward points
Correct Answer
C. 1,000 reward pointsExplanation
Relationship rewards are awarded by "Product Category". Here, Preferred Current Account & e$aver belong to the same category and hence, reward points of 250 is awarded only once per product category per month.
Regardless of online transaction counts, reward points of 250 is awarded once for 'Online Transaction' product category.Rate this question:
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- 8.
A Preferred Banking customer walks into the branch. Which of the following best describes the process to sign up the customer for Preferred Banking Bundle?
- A.
Raise PB Maintenance form, then submit a Preferred Banking Application form.
- B.
Open Preferred Current Account, then raise a Preferred Banking Application form indicating the Preferred Current Account number, raise a PB Maintenance form to tag the ERM.
- C.
Ask customer to go home to mail in a Preferred Banking Application form with supporting documents.
- D.
Raise a PB maintenance form.
Correct Answer
B. Open Preferred Current Account, then raise a Preferred Banking Application form indicating the Preferred Current Account number, raise a PB Maintenance form to tag the ERM.Explanation
The best process to sign up a Preferred Banking customer for the Preferred Banking Bundle is to first open a Preferred Current Account. Then, a Preferred Banking Application form should be raised, indicating the Preferred Current Account number. Finally, a PB Maintenance form should be raised to tag the ERM. This process ensures that the customer is enrolled in the Preferred Banking Bundle and their account is properly maintained.Rate this question:
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- 9.
What should I do if I encounter a Preferred Banking customer who is Pre-embossed with Preferred Banking Mastercard World Credit Card?
- A.
Check C1 Insights & Offers (“Preferred Relaunch: Pre-Embossed MCW card – Activate by 31st Oct!”)
- B.
Advise customer on the features of Preferred Banking Bundle
- C.
Patch customer's call to the Straight Through Card Activation line to enable customer to activate his Preferred MCW credit card. Hold the line until customer ends card activation
- D.
Follow up with Preferred Current Account documentations & application form (CDD required)
- E.
Arrange for Courier to pick up Preferred current Account documentations & application form
Correct Answer(s)
A. Check C1 Insights & Offers (“Preferred Relaunch: Pre-Embossed MCW card – Activate by 31st Oct!”)
B. Advise customer on the features of Preferred Banking Bundle
C. Patch customer's call to the Straight Through Card Activation line to enable customer to activate his Preferred MCW credit card. Hold the line until customer ends card activation
D. Follow up with Preferred Current Account documentations & application form (CDD required)
E. Arrange for Courier to pick up Preferred current Account documentations & application formExplanation
The correct answer suggests a series of actions to take when encountering a Preferred Banking customer who has a Pre-embossed Preferred Banking Mastercard World Credit Card. First, check C1 Insights & Offers for information about activating the card. Then, advise the customer on the features of the Preferred Banking Bundle. Next, patch the customer's call to the Straight Through Card Activation line so they can activate their card, and hold the line until the activation is complete. After that, follow up with the customer to complete the Preferred Current Account documentations and application form, which require Customer Due Diligence (CDD). Finally, arrange for a courier to pick up the completed account documentations and application form.Rate this question:
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- 10.
If customer does not have a Preferred Overdraft, how much is the account fall below fees should his balances fall below the minimum average daily balance of S$6,000?
- A.
S$10 per quarter
- B.
S$10 per month from the first month
- C.
S$7 per month
- D.
S$30 per month
Correct Answer
A. S$10 per quarterExplanation
If a customer does not have a Preferred Overdraft and their balances fall below the minimum average daily balance of S$6,000, they will be charged S$10 per quarter.Rate this question:
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- 11.
Which of the following statement are true about the features available within the new Breeze online platform?(i) CASA account details, Pay Any Card service, SMS alert subscription & Rates enquiry(ii) Wishlist, Reminders, Account Opening, Global Link(iii) Loan details, CASA account details, Calendar View, Wishlist, Reminders(iv) Transaction search, Wishlist, Reminders, Calendar View, Credit card account details(v) Account Personalisation, Payee personalisation, transaction search, Calendar view
- A.
I, ii
- B.
I, ii, iv
- C.
Iv, v
- D.
None of the above
Correct Answer
C. Iv, vExplanation
The features available within the new Breeze online platform include transaction search, wishlist, reminders, calendar view, and credit card account details (iv). Additionally, the platform also offers account personalization, payee personalization, transaction search, and calendar view (v). Therefore, the correct answer is iv, v.Rate this question:
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- 12.
For technicals issues encountered when using the Breeze Online, what is the escalation process for resolutions?
- A.
Log a problem ticket on ITSC one stop shop, with service selection "I-Banking (SG)", providing affected NRIC and problem description.
- B.
Send e-mail to “BRZE Banking Support SG” with ITSC problem ticket number, customer NRIC, problem description
- C.
Log a problem ticket via RMS, with service selection "I-Banking (SG)", providing affected NRIC and problem description.
- D.
Send e-mail to "SG Banking Ops" only.
Correct Answer(s)
A. Log a problem ticket on ITSC one stop shop, with service selection "I-Banking (SG)", providing affected NRIC and problem description.
B. Send e-mail to “BRZE Banking Support SG” with ITSC problem ticket number, customer NRIC, problem descriptionExplanation
To escalate technical issues encountered when using Breeze Online for resolution, the correct process is to log a problem ticket on ITSC one stop shop, with service selection "I-Banking (SG)", providing the affected NRIC and problem description. Additionally, it is also necessary to send an email to "BRZE Banking Support SG" including the ITSC problem ticket number, customer NRIC, and problem description. This ensures that the issue is properly documented and can be addressed by the appropriate support team.Rate this question:
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Current Version
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Mar 17, 2023Quiz Edited by
ProProfs Editorial Team -
Jul 18, 2010Quiz Created by
PreferredBanking
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