Priority Banking E-quiz (Pfc/ ERM/ Rm/ Rsm/ Csms/Bosms/Stms/Bdms)
Priority Banking Re-Launch E-Quiz for PFC/ ERM/ RM/ RSM/ CSMs/BOSMs/STMs/BDMs
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- 1.
Which of the following customer is eligible for Priority Banking status in Singapore?A) Customer A has S$280K in e$aver and S$500K Mortgage loanB)Customer B is a qualified Priority Banking customer in Hong KongC)Customer C is not a qualified Priority Banking customer in Indonesia and Korean but is a qualified customer in IndiaD)Customer D has an SCB payroll account where monthly salary credited is S$20K.
- A.
All of the above
- B.
None of the above
- C.
A, B & D only
- D.
A & B only
Correct Answer
A. All of the aboveExplanation
All of the above customers are eligible for Priority Banking status in Singapore. Customer A meets the eligibility criteria with a high balance in their e$aver account and a significant mortgage loan. Customer B's qualification as a Priority Banking customer in Hong Kong suggests they would also be eligible in Singapore. Customer C may not be eligible in Indonesia and Korea, but their qualification in India suggests they meet the criteria in Singapore as well. Customer D's SCB payroll account with a high monthly salary also makes them eligible. Therefore, all of the above customers are eligible for Priority Banking status in Singapore.Rate this question:
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- 2.
In which of the following scenarios will the cross border outward telegraphic transfer fee rebate apply?A) Customer A is a Priority Banking customer with SG SCB and makes an OTT to SCB HKB)Customer B logs onto SG Internet Banking and makes an OTT to SCB MY.C)Customer C request to be upgraded to be Priority Banking and thereafter makes an OTT to HSBC.
- A.
All of the above
- B.
None of the above
- C.
A & B only
- D.
A only
Correct Answer
C. A & B onlyExplanation
The cross border outward telegraphic transfer fee rebate will apply in scenarios A and B only. In scenario A, Customer A is a Priority Banking customer with SG SCB and makes an OTT to SCB HK. In scenario B, Customer B logs onto SG Internet Banking and makes an OTT to SCB MY. In both of these scenarios, the customers are eligible for the fee rebate because they meet the specified criteria. Scenario C is not eligible for the fee rebate because Customer C requests to be upgraded to Priority Banking after making the OTT to HSBC.Rate this question:
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- 3.
Which customers will enjoy a fee waiver on overseas ATM cash withdrawal?A) SG Priority Banking Customer A makes an ATM withdrawal using CitiBank’s ATM in USA.B) SG Excel Banking Customer B makes an ATM withdrawal using SCB Thailand ATM.C) SG Priority Banking Customer C makes an ATM withdrawal using SCB Hong Kong ATM.D)SG Priority Banking Customer D makes an ATM withdrawal using SCB SG ATM5 network.
- A.
All of the above
- B.
A, B, C only
- C.
A & C only
- D.
A & D only
Correct Answer
C. A & C only -
- 4.
Which of the following is not part of the on us cross border outward telegraphic transfer fee rebate?
- A.
Cable/telex/cover charge
- B.
Handling commission including commission in lieu/service fees
- C.
Other miscellaneous charges such as OTT inland exchange/OTTSME/SGG Payment CR Through Hogan Account/Surcharge for AUD Remittance
- D.
Amendment/Cancellation/Overseas Charges will continue to be levied
Correct Answer
D. Amendment/Cancellation/Overseas Charges will continue to be leviedExplanation
The given correct answer states that Amendment/Cancellation/Overseas Charges will continue to be levied. This means that these charges are not part of the on us cross border outward telegraphic transfer fee rebate.Rate this question:
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- 5.
Priority Banking Customer requests for his family members to be accorded Priority banking status in SG. Who does not qualify?
- A.
Wife
- B.
Sister in law
- C.
Eldest Son
- D.
Youngest daughter
Correct Answer
B. Sister in lawExplanation
The sister-in-law does not qualify for Priority banking status because she is not a direct family member of the Priority Banking Customer.Rate this question:
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- 6.
Under the Global Recognition service, RM should:
- A.
Verify if customer is a Priority customer in originating country. Account Opening and PB upgrading should follow only there after
- B.
Open account and pend Priority Banking sign up. Upon verification if customer is a Priority Banking customer in originating country, proceed with upgrade; else reject customer’s request to upgrade.
- C.
Request to sight Priority Banking ATM/Debit card of originating country. Open account and proceed with Priority Banking sign up. Email to country champion to verify of customer is a Priority Banking customer in originating country. If so, continue to engage customer. Else, advice customer that he would be given 1 year grace period to increase his holdings with Standard Chartered Bank Singapore to meet the minimum eligibility criteria.
- D.
Tell customer that Singapore is not part of this Global Recognition service scheme and will not accept his request.
Correct Answer
C. Request to sight Priority Banking ATM/Debit card of originating country. Open account and proceed with Priority Banking sign up. Email to country champion to verify of customer is a Priority Banking customer in originating country. If so, continue to engage customer. Else, advice customer that he would be given 1 year grace period to increase his holdings with Standard Chartered Bank Singapore to meet the minimum eligibility criteria.Explanation
The correct answer suggests that under the Global Recognition service, the Relationship Manager (RM) should request to sight the Priority Banking ATM/Debit card of the originating country. If the customer is a Priority Banking customer in the originating country, the RM should proceed with opening the account and signing up for Priority Banking. An email should be sent to the country champion to verify the customer's status. If the customer is indeed a Priority Banking customer, the RM should continue to engage with the customer. If not, the RM should advise the customer that they will be given a one-year grace period to increase their holdings with Standard Chartered Bank Singapore to meet the minimum eligibility criteria.Rate this question:
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- 7.
What type of services will customer get to enjoy at Singapore international Priority Banking Centres when offshore customers from other SCB footprints presents his/her Priority Banking debit/ ATM and or Credit Card?A. Use of our exclusive Priority Banking lounge facilitiesB. Emergency cash servicesC. Remote account opening assistance and enquiresD. Free wireless and/or internet access
- A.
All of the above
- B.
None of the above
- C.
A, B & C only
- D.
A & B only
Correct Answer
C. A, B & C onlyExplanation
Customers who present their Priority Banking debit/ATM and/or Credit Card at Singapore international Priority Banking Centres will get to enjoy the use of exclusive Priority Banking lounge facilities, emergency cash services, and remote account opening assistance and inquiries. They will not receive free wireless and/or internet access, as this is not mentioned in the given options. Therefore, the correct answer is A, B & C only.Rate this question:
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- 8.
A SG Priority Banking customer has holdings with SCB Hong Kong, SCB Thailand, SCB Indonesia, SCB Malaysia, SCB India, SCB UAE and SCB Nigeria. Upon logging into SG Online banking, the Global Link feature allows him to link and view their overseas account balances from:
- A.
Up to 5 countries out of Hong Kong, Thailand, Indonesia, Malaysia, India, UAE
- B.
All countries listed here
- C.
Only Hong Kong and Malaysia
- D.
Only Nigeria, UAE & Hong Kong
Correct Answer
A. Up to 5 countries out of Hong Kong, Thailand, Indonesia, Malaysia, India, UAEExplanation
The Global Link feature in SG Online banking allows the SG Priority Banking customer to link and view their overseas account balances from up to 5 countries out of Hong Kong, Thailand, Indonesia, Malaysia, India, and UAE. This means that the customer can choose any combination of these countries to link and view their account balances, up to a maximum of 5 countries.Rate this question:
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- 9.
When applying for emergency cash application in Singapore, what are the mandatory application requirements in an event customer has lost his SCB ATM card and passport?
- A.
Passport
- B.
NRIC of home country
- C.
Working Permit in SG
- D.
Signature on the completed Emergency Cash Application form should be consistent as records of account to be debited from in originating country. The form should then be faxed over to customer’s originating country.
Correct Answer
D. Signature on the completed Emergency Cash Application form should be consistent as records of account to be debited from in originating country. The form should then be faxed over to customer’s originating country.Explanation
The mandatory application requirement in the event that a customer has lost his SCB ATM card and passport is that the signature on the completed Emergency Cash Application form should be consistent with the records of the account to be debited from in the originating country. Additionally, the form should be faxed over to the customer's originating country.Rate this question:
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- 10.
Priority Banking status expires after 1 year from the date of PB sign up. How can customer renew his membership?
- A.
Customer cannot renew his membership
- B.
Customer needs to meet our eligibility criteria to become a Priority Banking customer by simply maintaining a minimum of S$100,000 in deposits and/or investments, or taking up S$1 million in housing loans with us.
- C.
Customer needs to meet our eligibility criteria to become a Priority Banking customer by simply maintaining a monthly credit of more than S$16,000 in your SuperSalary Account with us to enjoy a 1-year complimentary Priority Banking membership
- D.
Customer needs to meet our eligibility criteria to become a Priority Banking customer by simply maintaining a minimum of S$200,000 in deposits alone.
Correct Answer
C. Customer needs to meet our eligibility criteria to become a Priority Banking customer by simply maintaining a monthly credit of more than S$16,000 in your SuperSalary Account with us to enjoy a 1-year complimentary Priority Banking membershipExplanation
To renew his membership, the customer needs to meet the eligibility criteria of maintaining a monthly credit of more than S$16,000 in his SuperSalary Account. By doing so, he will be able to enjoy a 1-year complimentary Priority Banking membership.Rate this question:
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Current Version
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Mar 21, 2023Quiz Edited by
ProProfs Editorial Team -
Jul 14, 2009Quiz Created by
Prioritybanking
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