NAB Core Practice Exam Question and Answers [100% Correct] 2024/2025 Latest Release!!!
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Course
NAB
Institution
NAB
NAB Core Practice Exam Question and
Answers [100% Correct] 2024/2025
Latest Release!!!
What is the primary purpose of NAB Core in banking operations?
A) Customer service enhancement
B) Risk management
C) Core banking transactions
D) Financial forecasting
**ANS** C) Core ba...
NAB Core Practice Exam Question and
Answers [100% Correct] 2024/2025
Latest Release!!!
What is the primary purpose of NAB Core in banking operations?
A) Customer service enhancement
B) Risk management
C) Core banking transactions
D) Financial forecasting
**ANS** C) Core banking transactions
Which technology is commonly integrated with NAB Core systems for enhanced data processing?
A) Blockchain
B) Artificial Intelligence
C) Cloud computing
D) All of the above
**ANS** D) All of the above
What feature does NAB Core offer to improve customer experience?
A) Automated chatbots
B) Personalized account insights
C) Enhanced security protocols
D) All of the above
**ANS** D) All of the above
How does NAB Core handle real-time transactions?
A) Through batch processing
1
,B) Using a centralized ledger
C) Via API integrations
D) All of the above
**ANS** C) Via API integrations
What is a significant benefit of implementing NAB Core in financial institutions?
A) Reduced operational costs
B) Increased transaction speed
C) Improved compliance management
D) All of the above
**ANS** D) All of the above
Which of the following is NOT a component of NAB Core?
A) Customer relationship management
B) Loan processing module
C) Inventory management
D) Transaction processing engine
**ANS** C) Inventory management
What is the role of data analytics within NAB Core?
A) To generate sales reports
B) To predict customer behavior
C) To enhance fraud detection
D) All of the above
**ANS** D) All of the above
In which area does NAB Core primarily aim to reduce risks?
A) Marketing
B) Investment strategies
2
,C) Compliance and security
D) Employee training
**ANS** C) Compliance and security
How often are updates typically rolled out for NAB Core systems?
A) Monthly
B) Quarterly
C) Annually
D) As needed
**ANS** D) As needed
What type of architecture does NAB Core usually utilize?
A) Monolithic
B) Microservices
C) Client-server
D) Peer-to-peer
**ANS** B) Microservices
What is the main advantage of cloud integration with NAB Core?
A) Improved data privacy
B) Enhanced accessibility and scalability
C) Increased hardware costs
D) Limited system updates
**ANS** B) Enhanced accessibility and scalability
Which regulatory framework is NAB Core designed to comply with?
A) GDPR
B) SOX
C) Basel III
3
, D) HIPAA
**ANS** C) Basel III
What does NAB Core use to ensure data integrity?
A) Regular audits
B) Data encryption
C) Multi-factor authentication
D) All of the above
**ANS** D) All of the above
Which of the following best describes the user interface of NAB Core?
A) Complex and hard to navigate
B) Simple and user-friendly
C) Outdated and clunky
D) Highly customizable but confusing
**ANS** B) Simple and user-friendly
What kind of support does NAB Core provide to financial institutions?
A) Technical support only
B) Strategic advisory services
C) Training and user documentation
D) All of the above
**ANS** D) All of the above
How can NAB Core facilitate omnichannel banking?
A) By integrating mobile and web platforms
B) By isolating customer data
C) By restricting access to information
D) By standardizing all transactions
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