Preparing for the IIBF BC/BF exam becomes much easier when you understand the syllabus and regularly practice questions based on banking, financial inclusion, KYC, BC/BF operations, Digital banking, Customer service and basic technical skills.
This article provides a practical preparation guide along with 200+ IIBF BC/BF exam Questions and Answers. The questions are prepared as practice material based on the topics covered in the IIBF BC/BF syllabus. They are not claimed to be actual questions from the IIBF question bank.
What is the IIBF BC/BF Exam?
The Indian Institute of Banking & Finance (IIBF) conducts certification examinations for Business Correspondents and Business Facilitators.
The certification is connected with financial inclusion and is designed to give BC/BF agents the banking knowledge and practical skills needed to serve customers outside traditional bank branches.
IIBF currently provides Basic and Advanced certification for BCs/BFs. The official rules state that the Basic certification is intended for agents handling basic transactions such as payment transactions, cash in/cash out and remittances, while the Advanced certification is intended for BC agents handling the broader activities prescribed by the regulator.
IIBF BC/BF Exam Pattern
As specified in the IIBF 2024 Rules & Syllabus, the examination is conducted online and uses objective-type questions.
| Certification | Questions | Marks | Duration |
| Basic Certification | 50 | 50 | 1 hour |
| Advanced Certification | 100 | 100 | 2 hours |
IIBF BC/BF Syllabus
The Basic Certification syllabus covers several areas:
- General banking
- Types of banks
- Deposit accounts
- Remittances
- Account opening
- KYC and AML
- Customer grievances
- Financial inclusion
- BC/BF model
- Risk and fraud management
- PMJDY and related schemes
- Micro-ATM and biometric devices
- Digital banking
- Cards
- Mobile banking
- Internet banking
- Basic technical skills
200+ IIBF BC/BF Exam Questions and Answers
The following questions are original practice questions created for exam preparation. They should be used as revision material rather than treated as leaked or official IIBF questions.
Part 1: Basic Banking Questions
1. What is a bank?
Answer: A bank is a financial institution that accepts deposits, provides loans and offers various financial services to customers.
2. What is the main function of a bank?
Answer: One of the main functions of a bank is accepting deposits and providing credit.
3. What is a deposit?
Answer: A deposit is money placed by a customer with a bank for safekeeping and other banking purposes.
4. What is a savings account?
Answer: A savings account is a deposit account generally used by individuals for saving money and carrying out routine transactions.
5. What is a current account?
Answer: A current account is generally designed for frequent transactions, particularly for businesses and other customers with higher transaction requirements.
6. What is a fixed deposit?
Answer: A fixed deposit is a term deposit in which money is kept with the bank for a specified period.
7. What is a recurring deposit?
Answer: A recurring deposit allows a customer to deposit a specified amount at regular intervals for a predetermined period.
8. What is a loan?
Answer: A loan is money provided by a financial institution to a borrower subject to agreed repayment terms.
9. What is interest?
Answer: Interest is the amount charged on borrowed money or paid on certain deposits, depending on the banking product.
10. What is credit?
Answer: Credit refers to money or purchasing power made available to a person or organisation with an obligation to repay.
11. What is a bank branch?
Answer: A bank branch is a physical office through which a bank provides services to customers.
12. What is a commercial bank?
Answer: A commercial bank provides banking and financial services such as deposits, loans and payment services.
13. What is a Regional Rural Bank?
Answer: A Regional Rural Bank is a banking institution established to serve rural and semi-urban areas and support rural economic activity.
14. What is a Small Finance Bank?
Answer: A Small Finance Bank is a bank licensed to provide banking services with a focus on financial inclusion and specified customer segments.
15. What is a payment bank?
Answer: A Payments Bank is a specialised bank designed primarily to provide services such as deposits and payments/remittances within the regulatory framework applicable to it.
16. Which institution regulates banks in India?
Answer: The Reserve Bank of India (RBI) is the principal banking regulator and supervisor in India.
17. What is RBI?
Answer: RBI stands for Reserve Bank of India.
18. What is monetary policy?
Answer: Monetary policy refers to measures taken by the central bank to influence money, credit and liquidity conditions in the economy.
19. What is a bank customer?
Answer: A bank customer is a person or entity that maintains a banking relationship or uses banking services.
20. What is banking service?
Answer: A banking service is a financial service provided by a bank, such as deposits, payments, remittances, loans or account-related services.
Part 2: Deposit and Remittance Questions
21. What is a demand deposit?
Answer: A demand deposit is a deposit that can generally be withdrawn on demand, subject to applicable account rules.
22. Which common accounts are demand deposits?
Answer: Savings and current accounts are generally classified as demand deposits.
23. What is a term deposit?
Answer: A term deposit is money kept with a bank for a specified period under agreed conditions.
24. What is maturity?
Answer: Maturity is the date on which a deposit or financial instrument reaches the end of its agreed term.
25. What is premature withdrawal?
Answer: Premature withdrawal means withdrawing a term deposit before its agreed maturity date, subject to applicable bank rules.
26. What is nomination in a bank account?
Answer: Nomination allows an account holder to nominate a person to receive the deposit proceeds in accordance with applicable rules after the account holder’s death.
27. What is a bank remittance?
Answer: A remittance is the transfer of money from one person or place to another through an authorised payment or banking channel.
28. Why are remittance services important?
Answer: They allow customers to transfer money conveniently and support financial transactions between different locations.
29. What is a beneficiary?
Answer: A beneficiary is the person or entity intended to receive a payment or transferred amount.
30. What is a transaction?
Answer: A transaction is a financial activity such as depositing, withdrawing, transferring or paying money.
31. What is a withdrawal?
Answer: A withdrawal is the process of taking money out of a bank account.
32. What is a deposit slip?
Answer: A deposit slip is a form used to provide details when depositing money into an account.
33. What is a passbook?
Answer: A passbook records transactions and other account-related information for eligible bank accounts.
34. What is an account statement?
Answer: An account statement provides a record of transactions carried out in an account during a particular period.
35. What is DICGC?
Answer: DICGC stands for Deposit Insurance and Credit Guarantee Corporation.
36. What is the purpose of deposit insurance?
Answer: Deposit insurance provides protection to depositors within the limits and conditions prescribed under the applicable deposit insurance framework.
37. What is a banker’s cheque?
Answer: A banker’s cheque is a payment instrument issued by a bank according to applicable banking rules.
38. What is an electronic fund transfer?
Answer: It is the transfer of money electronically from one bank account or payment account to another.
39. Why should a customer verify beneficiary details?
Answer: Verification helps reduce the risk of sending money to the wrong person or account.
40. What should a BC do if a transaction appears unsuccessful?
Answer: The BC should check the transaction status through the authorised system and follow the bank’s prescribed procedure rather than making assumptions.
Part 3: KYC and Account Opening Questions
41. What does KYC stand for?
Answer: KYC stands for Know Your Customer.
42. Why is KYC required?
Answer: KYC helps banks identify customers and manage risks associated with money laundering, fraud and other unlawful activities.
43. What is customer identification?
Answer: Customer identification is the process of establishing and verifying the identity of a customer.
44. What is an identity document?
Answer: An identity document is an officially accepted document used to establish a person’s identity.
45. Why is customer information important?
Answer: Accurate customer information helps banks maintain proper records and provide services securely.
46. What is AML?
Answer: AML stands for Anti-Money Laundering.
47. What is money laundering?
Answer: Money laundering is the process of disguising the illegal origin of funds so that they appear to come from legitimate sources.
48. What is customer due diligence?
Answer: Customer due diligence involves obtaining and assessing relevant customer information according to applicable rules.
49. What is enhanced due diligence?
Answer: Enhanced due diligence involves additional checks and monitoring where the risk associated with a customer or transaction is higher.
50. What is suspicious transaction monitoring?
Answer: It is the process of identifying transactions that may require further review under applicable AML rules.
51. Should a BC ignore suspicious activity?
Answer: No. A BC should follow the bank’s prescribed reporting and escalation procedures.
52. Can a BC knowingly accept false customer information?
Answer: No. A BC must follow the bank’s KYC and customer onboarding procedures.
53. Why is a photograph sometimes required during account opening?
Answer: It helps in customer identification and record maintenance as required by the applicable process.
54. What is a specimen signature?
Answer: A specimen signature is a customer’s signature kept on record for verification where applicable.
55. What is account closure?
Answer: Account closure is the formal process of ending a customer’s bank account relationship according to bank procedures.
56. Can customer documents be handled carelessly?
Answer: No. Customer documents and personal information must be protected and handled according to applicable security and privacy procedures.
57. Why should customer information be kept confidential?
Answer: Confidentiality protects customers from misuse of their personal and financial information.
58. What should a BC do if customer information is incomplete?
Answer: The BC should follow the bank’s prescribed procedure and obtain the required information or documents before completing the process.
59. What is Aadhaar-based authentication?
Answer: It is an authentication process using Aadhaar-related identity verification mechanisms where permitted under the applicable framework.
60. Should a BC use another person’s identity information?
Answer: No. Customer identity must be verified according to the prescribed process.
Part 4: Customer Service and Grievance Redressal
61. What is a customer grievance?
Answer: A customer grievance is a complaint or expression of dissatisfaction regarding a banking service or transaction.
62. Why is grievance redressal important?
Answer: It gives customers a formal way to report problems and seek resolution.
63. What should a BC do when a customer makes a complaint?
Answer: The BC should listen carefully, record or guide the complaint through the authorised process and provide the correct information.
64. Should a BC argue with a customer?
Answer: No. The BC should remain professional and follow the bank’s complaint-handling procedure.
65. What is a complaint reference number?
Answer: It is a number or identifier used to track a complaint.
66. Why should customers preserve transaction receipts?
Answer: Receipts can help verify and track transactions if a dispute occurs.
67. What should a customer do after an unauthorised transaction?
Answer: The customer should report it immediately through the bank’s authorised channel and follow the bank’s instructions.
68. What is the Banking Ombudsman framework?
Answer: RBI’s Integrated Ombudsman Scheme provides a mechanism for resolving eligible complaints against regulated entities when the conditions for approaching the Ombudsman are met.
69. Can every complaint immediately go to the Ombudsman?
Answer: No. The applicable complaint process and eligibility conditions must be followed.
70. What is fair customer service?
Answer: Fair customer service means providing accurate information and treating customers properly without discrimination or misleading them.
71. Should a BC promise approval of a loan?
Answer: No. A BC should never guarantee a loan or financial product outcome.
72. Should a BC hide charges from a customer?
Answer: No. Applicable charges should be communicated transparently according to bank rules.
73. What is customer awareness?
Answer: Customer awareness means helping customers understand available services, charges, risks and safe transaction practices.
74. Why are receipts important in BC transactions?
Answer: They provide evidence of the transaction and can help with reconciliation or dispute resolution.
75. What is responsible customer communication?
Answer: It means giving accurate, clear and understandable information without making false promises.
Part 5: Financial Inclusion
76. What is financial inclusion?
Answer: Financial inclusion means ensuring that individuals and businesses can access useful and affordable financial services through appropriate channels.
77. Why is financial inclusion important?
Answer: It helps people access banking, payments, savings, credit, insurance and other financial services.
78. Who benefits from financial inclusion?
Answer: Individuals, households, small businesses and communities that face barriers to formal financial services can benefit.
79. What is an unbanked person?
Answer: An unbanked person is someone who does not have access to or does not use a formal bank account.
80. What is an underserved customer?
Answer: An underserved customer has limited access to suitable financial services.
81. How do BCs support financial inclusion?
Answer: BCs help extend banking services to customers in locations where conventional branches may not be easily accessible.
82. What is the BC model?
Answer: The BC model allows banks to use authorised agents or business correspondents to provide specified banking services to customers.
83. What is the main purpose of the BC model?
Answer: One important purpose is to extend banking services to a wider customer base.
84. What is a Business Facilitator?
Answer: A Business Facilitator supports certain banking activities such as customer sourcing and facilitation, within the scope permitted by the bank and regulator.
85. What is a Business Correspondent?
Answer: A Business Correspondent is an authorised agent who performs specified banking functions on behalf of a bank under the applicable framework.
86. What is the difference between BC and BF?
Answer: A BC can perform specified banking transactions and services permitted under the applicable framework, while a BF generally performs facilitation activities within its authorised scope.
87. Why is technology important for financial inclusion?
Answer: Technology can make banking services available at lower cost and help customers transact remotely.
88. What is branchless banking?
Answer: Branchless banking refers to providing banking services through channels other than a conventional bank branch.
89. What is last-mile banking?
Answer: Last-mile banking refers to delivering financial services to customers who may be located far from conventional banking infrastructure.
90. What is financial literacy?
Answer: Financial literacy is the ability to understand and make informed decisions about money and financial services.
91. Why should BCs promote financial literacy?
Answer: Customers who understand banking products and risks are better able to use financial services safely.
92. What is digital financial inclusion?
Answer: Digital financial inclusion means using digital channels to provide accessible financial services to customers.
93. What is the role of a BC in rural banking?
Answer: A BC can help customers access authorised banking services closer to their location.
94. What is doorstep banking?
Answer: Doorstep banking refers to certain banking services delivered to customers at or near their location, where such services are permitted.
95. How can financial inclusion reduce dependence on informal channels?
Answer: Access to formal banking and payment services can provide customers with regulated alternatives to informal financial arrangements.
Part 6: BC/BF Role and Responsibilities
96. What does BC stand for?
Answer: BC stands for Business Correspondent.
97. What does BF stand for?
Answer: BF stands for Business Facilitator.
98. Who authorises a BC?
Answer: A BC works under the authorisation and supervision of the concerned bank according to the applicable framework.
99. Can a BC act independently of the bank?
Answer: No. A BC must operate within the authority, procedures and limits prescribed by the bank and applicable regulations.
100. Can a BC change bank rules?
Answer: No.
101. Can a BC create its own banking charges?
Answer: No. Charges must follow the bank’s authorised structure.
102. Can a BC keep customer money without recording the transaction?
Answer: No. Every transaction must be processed and recorded through the authorised system and procedure.
103. Why is transaction authentication important?
Answer: It helps confirm that a transaction is being performed through the required authorised process.
104. What is cash-in?
Answer: Cash-in refers to depositing cash into an account or carrying out an authorised cash deposit transaction.
105. What is cash-out?
Answer: Cash-out refers to an authorised withdrawal or payment of cash to a customer.
106. What is a remittance service through a BC?
Answer: It is an authorised money-transfer service carried out through the banking system and permitted BC channel.
107. Should a BC maintain transaction records?
Answer: Yes, according to the bank’s prescribed procedures and regulatory requirements.
108. What is reconciliation?
Answer: Reconciliation is the process of comparing transaction records and balances to identify and resolve differences.
109. Why is daily reconciliation important?
Answer: It helps identify transaction or cash differences promptly.
110. What should a BC do if cash and system balance do not match?
Answer: The BC should follow the bank’s reconciliation and reporting procedure and investigate the difference.
111. Can a BC disclose a customer’s PIN?
Answer: No.
112. Can a BC ask a customer to share their OTP?
Answer: A BC should never ask customers to disclose confidential authentication credentials such as OTPs or PINs.
113. What should a BC do if a customer’s biometric authentication fails?
Answer: The BC should follow the authorised alternative procedure rather than attempting unauthorised methods.
114. Why is BC training important?
Answer: Training helps BCs understand banking operations, customer service, compliance and technology.
115. What is the BC’s responsibility toward customer awareness?
Answer: The BC should provide accurate information about authorised services and safe banking practices.
Part 7: Risk and Fraud Management
116. What is banking risk?
Answer: Banking risk is the possibility of financial loss, operational problems, fraud or other adverse events affecting banking operations.
117. What is fraud?
Answer: Fraud is intentional deception or dishonest conduct carried out for unlawful gain or to cause loss.
118. What is operational risk?
Answer: Operational risk is the risk of loss resulting from inadequate or failed processes, people, systems or external events.
119. What is cyber fraud?
Answer: Cyber fraud involves fraudulent activity carried out using computers, mobile devices, networks or digital systems.
120. What is phishing?
Answer: Phishing is a fraudulent attempt to obtain sensitive information by pretending to be a trusted person or organisation.
121. What is OTP?
Answer: OTP stands for One-Time Password.
122. Should an OTP be shared with another person?
Answer: No. Customers should keep OTPs confidential.
123. What is a PIN?
Answer: PIN stands for Personal Identification Number and is used as an authentication credential in certain banking services.
124. Should a customer write their PIN on their card?
Answer: No. The PIN should be kept confidential.
125. What is social engineering?
Answer: Social engineering involves manipulating people into revealing information or performing an action that benefits the fraudster.
126. What is identity theft?
Answer: Identity theft occurs when someone wrongfully uses another person’s personal information.
127. What is transaction fraud?
Answer: Transaction fraud involves unauthorised or deceptive activity related to a financial transaction.
128. What should a BC do after detecting suspected fraud?
Answer: The BC should immediately follow the bank’s prescribed fraud reporting and escalation process.
129. Should a BC investigate fraud privately?
Answer: No. Fraud-related incidents should be handled through the authorised bank process.
130. Why are passwords important?
Answer: Passwords protect systems and accounts from unauthorised access.
131. Should passwords be shared?
Answer: No.
132. Why should software and devices be secured?
Answer: Security reduces the risk of unauthorised access, malware and data compromise.
133. What is malware?
Answer: Malware is malicious software designed to damage systems, steal information or perform unauthorised activities.
134. What is a secure transaction?
Answer: A secure transaction is carried out through an authorised channel using appropriate authentication and security procedures.
135. Why should BCs be alert to fraud?
Answer: BCs operate close to customers and handle financial services, so proper controls and awareness are essential.
Part 8: PMJDY, PMJJBY, PMSBY and APY
136. What does PMJDY stand for?
Answer: Pradhan Mantri Jan-Dhan Yojana.
137. What is the main objective of PMJDY?
Answer: PMJDY is a financial inclusion programme intended to provide access to basic banking and related financial services.
138. What does PMJJBY stand for?
Answer: Pradhan Mantri Jeevan Jyoti Bima Yojana.
139. What type of scheme is PMJJBY?
Answer: PMJJBY is a life insurance scheme under the government-supported social security framework.
140. What does PMSBY stand for?
Answer: Pradhan Mantri Suraksha Bima Yojana.
141. What type of scheme is PMSBY?
Answer: PMSBY is an accident insurance scheme under the government-supported social security framework.
142. What does APY stand for?
Answer: Atal Pension Yojana.
143. What is the basic purpose of APY?
Answer: APY is a pension-oriented social security scheme designed to provide pension benefits according to its applicable rules.
144. Why should BCs know about government financial inclusion schemes?
Answer: BCs may help customers understand and access eligible banking and financial inclusion services.
145. Should a BC give outdated scheme information?
Answer: No. Current eligibility, contribution, premium, benefit and other changeable details should be verified from official sources.
146. What is social security?
Answer: Social security refers to measures that provide financial protection or support against specified risks or needs.
147. What is insurance?
Answer: Insurance is a financial arrangement that provides protection against specified risks in exchange for applicable premium or contribution.
148. What is a premium?
Answer: A premium is an amount paid for insurance coverage.
149. What is pension?
Answer: A pension is a regular payment intended to provide income during a specified period, commonly after retirement.
150. Why should customers read scheme terms?
Answer: Scheme terms explain eligibility, coverage, exclusions, contributions and other important conditions.
Part 9: Micro-ATM and Technical Skills
151. What is a Micro-ATM?
Answer: A Micro-ATM is a device used through authorised banking channels to provide certain banking transactions, often with authentication.
152. What is biometric authentication?
Answer: Biometric authentication uses a person’s physical or behavioural characteristic for identity verification.
153. Give one example of biometric authentication.
Answer: Fingerprint authentication is one example.
154. What is connectivity?
Answer: Connectivity refers to the communication link that allows a device or system to exchange data with another system.
155. Why is connectivity important for BC transactions?
Answer: Many BC transactions require communication with the bank’s authorised system for authentication and transaction processing.
156. What should a BC do when the device loses connectivity?
Answer: The BC should follow the authorised troubleshooting and transaction-status procedure.
157. Should a BC repeat a transaction blindly after a network failure?
Answer: No. The transaction status should be checked first to avoid duplicate transactions.
158. What is a biometric device?
Answer: It is a device capable of capturing biometric information for authorised authentication.
159. Why should a BC keep devices secure?
Answer: Secure devices reduce the risk of misuse, tampering and unauthorised access.
160. What is device authentication?
Answer: Device authentication is the process of verifying that a device is authorised to access a system or service.
161. What is a transaction receipt?
Answer: A transaction receipt records important details of a completed transaction.
162. Why should the customer check the receipt?
Answer: It helps the customer confirm the transaction details.
163. What is transaction status?
Answer: Transaction status indicates whether a transaction is successful, failed, pending or otherwise classified by the system.
164. What should happen when a transaction is pending?
Answer: The BC should follow the authorised procedure for checking and resolving the transaction status.
165. Can a BC use an unauthorised device for banking transactions?
Answer: No.
Part 10: Digital Banking
166. What is digital banking?
Answer: Digital banking means accessing banking services through electronic channels.
167. What is mobile banking?
Answer: Mobile banking allows customers to access banking services through a mobile device using authorised services.
168. What is internet banking?
Answer: Internet banking allows customers to perform eligible banking activities through an authorised online banking platform.
169. What is a debit card?
Answer: A debit card allows a customer to make eligible transactions using funds linked to the customer’s account.
170. What is a credit card?
Answer: A credit card allows eligible customers to make purchases or transactions using a credit facility subject to applicable terms.
171. What is an ATM?
Answer: ATM stands for Automated Teller Machine.
172. What is UPI?
Answer: UPI stands for Unified Payments Interface.
173. What is QR code payment?
Answer: QR code payment allows a customer to initiate or receive a digital payment by scanning a compatible QR code through an authorised payment application.
174. What is a digital wallet?
Answer: A digital wallet is an electronic facility used to store or access payment value or payment credentials, depending on the service.
175. What is contactless payment?
Answer: Contactless payment allows eligible transactions to be initiated without physically inserting or swiping the payment card, using supported technology.
176. What is two-factor authentication?
Answer: Two-factor authentication uses two different authentication factors to improve account security.
177. Why should customers use official banking applications?
Answer: Official applications reduce the risk of downloading fraudulent software that may steal financial information.
178. What is a secure website?
Answer: A secure website uses appropriate security measures to protect communication and user information.
179. Why should customers avoid suspicious links?
Answer: Suspicious links can lead to phishing pages or malicious software.
180. Should a customer share banking passwords over a phone call?
Answer: No.
Part 11: Cards, Payments and Safe Banking
181. What is an ATM PIN?
Answer: It is a personal identification number used to authenticate certain ATM or card transactions.
182. What is a card transaction?
Answer: A card transaction is a payment or withdrawal carried out using a payment card through an authorised channel.
183. What is a failed transaction?
Answer: A failed transaction is one that the system does not successfully complete.
184. What should a customer do if money is debited but the transaction fails?
Answer: The customer should check the transaction status and contact the bank through the authorised complaint or support channel if the amount is not automatically resolved within the applicable process.
185. What is an unauthorised transaction?
Answer: It is a transaction that the customer did not authorise.
186. Why should unauthorised transactions be reported quickly?
Answer: Prompt reporting allows the bank to initiate the applicable security and dispute-handling process.
187. What is card skimming?
Answer: Card skimming is the unauthorised capture of card information using a fraudulent device or method.
188. What is phishing through SMS?
Answer: It is an attempt to steal information by sending fraudulent messages that appear to come from a trusted source.
189. What is vishing?
Answer: Vishing is voice-based phishing, usually carried out through fraudulent phone calls.
190. What is smishing?
Answer: Smishing is phishing conducted through SMS or similar text messages.
191. Why should customers verify the recipient before making a digital payment?
Answer: It helps prevent accidental transfers to the wrong recipient.
192. What should a customer do with a suspicious banking call?
Answer: The customer should not share confidential information and should independently contact the bank through an official channel.
193. Should a BC ask customers for their banking password?
Answer: No.
194. Should a customer disclose an OTP to a BC?
Answer: Customers should keep OTPs confidential and follow the bank’s authorised authentication process.
195. Why is customer awareness important in digital banking?
Answer: Awareness helps customers recognise fraud attempts and use digital services more safely.
Part 12: Banking Ethics and Professional Conduct
196. What is professional conduct?
Answer: Professional conduct means performing duties honestly, responsibly and according to applicable rules.
197. Why is honesty important for a BC?
Answer: BCs handle customer facing banking services, so dishonest behaviour can cause financial loss and damage customer trust.
198. Can a BC misrepresent a financial product?
Answer: No.
199. What is mis-selling?
Answer: Mis-selling means selling or recommending a financial product through misleading information or unsuitable practices.
200. Why should a BC explain product conditions clearly?
Answer: Customers need accurate information to make informed decisions.
201. Can a BC promise a guaranteed return on every investment?
Answer: No. Investment returns and risks depend on the specific product and applicable terms.
202. Can a BC force a customer to purchase a product?
Answer: No.
203. What should a BC do with confidential customer information?
Answer: It should be protected and used only for authorised purposes.
204. Why is transparency important in banking?
Answer: Transparency helps customers understand services, charges, risks and conditions.
205. What should a BC do if unsure about a banking rule?
Answer: The BC should consult the authorised bank channel or responsible official rather than giving an uncertain answer.
206. Should a BC provide false information to complete a transaction?
Answer: No.
207. What is customer consent?
Answer: Customer consent is the customer’s informed permission for an action or service where consent is required.
208. Why should customer consent be respected?
Answer: It protects customers and ensures that services are provided according to applicable rules.
209. What is ethical banking?
Answer: Ethical banking involves honest, fair and responsible conduct while following applicable banking rules.
210. What is the most important principle for a BC dealing with customer money?
Answer: The BC should handle customer transactions honestly, securely and strictly according to authorised banking procedures.
Frequently Asked Questions about IIBF BC/BF Exam
Is the IIBF BC/BF exam difficult?
The difficulty depends on the candidate’s familiarity with banking concepts and the applicable certification level. Regular revision of the syllabus and practice questions can make preparation more manageable.
How many questions are asked in the IIBF BC/BF Basic exam?
The IIBF 2024 rules specify 50 questions for 50 marks with a duration of one hour for Basic Certification. The Institute also reserves the right to vary the number of questions.
Is there negative marking in the BC/BF exam?
The IIBF 2024 Rules & Syllabus states that there is no negative marking for wrong answers. Candidates should still check the latest instructions applicable to their examination.
What is the passing mark for Basic Certification?
The 2024 IIBF rules specify 25 out of 50 marks, or 50%, for Basic Certification.
What is the passing mark for Advanced Certification?
The 2024 rules specify 50 out of 100 marks, or 50%, for Advanced Certification.
Is BC/BF training compulsory?
For the training-based certification process described in the IIBF 2024 rules, candidates must complete the prescribed training before appearing for the relevant certification examination.
Is the BC/BF exam conducted online?
Yes. The IIBF 2024 rules specify online examination mode for the Basic and Advanced certification examinations.
Is the IIBF BC/BF exam available in Bengali?
The IIBF 2024 rules list Bengali among the examination languages.
Are these 200+ questions actual IIBF exam questions?
No. These are practice questions prepared around the syllabus. They should not be presented as leaked or official IIBF questions.
Can these questions alone guarantee passing?
No. They are revision material. Candidates should study the official courseware and current syllabus and keep up with applicable banking and regulatory updates. Prepare for the IIBF BC/BF exam with 200+ practice questions and answers covering banking, KYC, financial inclusion, digital banking and BC/BF roles.
Official Website: https://www.iibf.org.in/
