Infosys Certified Banking (Level 2) Associate
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Join Premium10 Infosys Certified Banking (Level 2) Associate practice questions with answers
Real Lex exam-pattern multiple-choice questions for the Infosys Certified Banking (Level 2) Associate certification. Each question includes the correct answer. The full question bank is available to Premium members.
- Question 1
The Fed’s monetary policy making body is:
- ✓ FOMC Correct
- B FDIC
- C SEC
- D None of the choices
- Question 2
The Federal Reserve was created in:
- ✓ 1939 Correct
- B 1919
- C 1929
- D 1913
- Question 3
The Federal Reserve Act does not provide for:
- ✓ Establishment of Federal Reserve banks Correct
- B Furnish elastic currency
- C Establish a more effective supervision of banking in the US
- D Deposit Insurance
- Question 4
You have savings accounts at two separately FDIC insured banks. At one of the banks, your account has a balance of $80,000. At the other bank, the balance in the account is $75,000. If both banks fail, you will receive
- ✓ $100,000 Correct
- B $155,000
- C $80,000
- D $75,000
- Question 5
Which of the following is not a ‘top-ten’ federally chartered bank in terms of assets held?
- ✓ Citibank Correct
- B ANZ Bank
- C Wachovia
- D JP Morgan Chase
- Question 6
Which of the following Acts distinguish between commercial banking and investment banking?
- ✓ The National Banking Act, 1864 Correct
- B The Glass-Steagall Act, 1932
- C The Gramm-Leach-Bliley (GLM) 1999
- D None of the above
- Question 7
In the case of Adjustable-Rate Mortgages (ARMs), when the reference benchmark rate / index changes, banks may revise the:
- ✓ Monthly repayment schedule Correct
- B Maturity of the loan
- C Proportion of principal being repaid in the monthly installment
- D All of the choices
- Question 8
Fannie Mae, Ginnie Mae and FreddieMac are:
- ✓ Credit Rating Agencies in the US Correct
- B Federal Regulatory agencies
- C Mortgage Associations in the US
- D None of the choices
- Question 9
The purpose of Mortgage Life Insurance:
- ✓ Is to insure the Mortgage Loan in the event of the death of the Borrower Correct
- B Is to insure the Mortgage Loan against the loss in the event a borrower defaults on a mortgage
- C Is to ensure Mortgage Loan in the event the loan is in default and the death of the borrower
- D None of the choices
- Question 10
If the market value of a property is $500,000 and loan to value ratio is 80%, this implies a sanctioned loan amount of:
- ✓ $400,000 Correct
- B $277,777
- C $625,000
- D None of the choices
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