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Free 301 - Retail Banking Configuration Exam Questions and Answers
Last updated: March 29, 2025
Examtopics 301 - Retail Banking Configuration Prepaway Real Exam Questions and dumps free download
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301 - Retail Banking Configuration
#Question
A financial institution uses nCino to track loan success. What should they focus on ensuring?
A.
Increased fees
B.
High charge-offs
C.
Customer satisfaction
D.
Fewer product offerings
Correct Answer:
C
Focusing on customer satisfaction leads to higher loan performance and lower attrition rates.
#Question
What is a crucial step for ensuring effective risk measurement in nCino?
A.
Disregard industry trends
B.
Focus on only one risk type
C.
Limit communication channels
D.
Regular reviews of customer data
Correct Answer:
D
Regular reviews of customer data help accurately measure and assess risk across various loan products.
#Question
What key relationship should be prioritized when using nCino for onboarding clients?
A.
Marketing strategies
B.
Employee hierarchy
C.
Customer onboarding experience
D.
Internal process silos
Correct Answer:
C
Prioritizing the customer onboarding experience is crucial for client retention and satisfaction.
#Question
If a bank needs to frequently update loan terms based on market changes, what feature should be utilized?
A.
Paper-based systems
B.
Manual edits
C.
Real-time updates
D.
Customer disinterest
Correct Answer:
C
Real-time updates allow banks to quickly adjust loan terms based on current market conditions.
#Question
If a bank wants to identify fraud trends, which nCino capability is vital?
A.
Random checks
B.
Reduced access to data
C.
Increased paperwork
D.
Data analytics
Correct Answer:
D
Data analytics is essential for tracking and identifying fraud trends within loan activities.
#Question
When a high volume of loan applications is received, how can nCino help manage this?
A.
Ignoring applications
B.
Reducing communication with customers
C.
Increasing manual processes
D.
Streamlining workflows and automation
Correct Answer:
D
Streamlining workflows and automation help efficiently manage and process a high volume of loan applications.
#Question
For effective communication with regulatory agencies, what nCino feature should be prioritized?
A.
Manual audits
B.
Comprehensive reporting
C.
Frequent emails
D.
Limited documentation
Correct Answer:
B
Comprehensive reporting ensures that all necessary information is available for effective communication with regulatory bodies.
301 - Retail Banking Configuration
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