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Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.
Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?
  • a)
    It allows for a standardized approach
  • b)
    It enables exclusive and professional processing
  • c)
    There is no advantage of a standalone model over a centralized model
  • d)
    It provides a better understanding of customer requirements
Correct answer is option 'D'. Can you explain this answer?
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Direction: Retail asset products of banks refer to financial products ...
A standalone model offers a better understanding of customer requirements.
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Read the following passage carefully and answer the questions given below it. Certain words/phrases have been underlineto help you locate them while answering some of the questions.The modern world requires us to repose trust in many anonymous institutions. We strap ourselves in a flying tin can with two hundred other people not because we know the pilot but because we believe that airline travel is safe. Our trust in these institutions depends on two factors : skills and ethics. We expect that the people who run these institutions know what they are doing, that they build and operate machines that work as they are supposed to and that they are looking out for our welfare even though we are strangers.When one of these factors is weak or absent, trust breaks down and we either pay a high price in safety- as in the Bhopal tragedy -or a large ‘welfare premium’ such as the elaborate security measures at airports. Trust-deficient environments work in the favour of the rich and powerful, who can commandpremiumtreatment and afford welfare premiums. Poor people can command neither; which is why air travel is safer than train travel, which in turn is safer than walking by the road side.Every modern society depends on the trust in the skills and ethics of a variety of institutions such as schools and colleges, hospital and markets. If we stopped believing in theexpertiseof our teachers, doctors and engineers, we will stop being a modern society.As the Institution among institutions, it is the duty of the state to ensure that all other institutions meet their ethicalobligations. The Indian state has failed in its regulatory role. Consequently, we cannot trust our schools to turn out good graduates, we cannot ensure that our colleges turn out well trained engineers and we cannot guarantee that our engineers will turn out to be good products.Last year, I was invited to speak at an undergraduate research conference. Most of the participants in this conference were students at the best engineering colleges in the State. One student who was driving me back and forthrecounteda story about the previous year’s final exam. One of his papers had a question from a leading textbook to which the textbook’s answer was wrong. The student was in a dilemma : should he write the (wrong) answer as given in the textbook or should he write the right answer using his own analytical skills. He decided to do the latter and received a zero on that question. Clearly, as the student had suspected, the examiners were looking at the textbook answer while correcting the examination papers instead of verifying its correctness.The behaviour of these examiners is a breakdown of institutional morals, with consequences for the skills acquired by students. I say institutional morals, for the failure of these examiners is not a personal failure. At the same conference I met a whole range of college teachers, all of whom were drafted as examiners at some time or the other. Without exception, they were dedicated individuals who cared about the education and welfare of their students. However, when put in the institutional role of evaluating an anonymous individual, they fail in fulfilling their responsibilities. When some of our best colleges are run in this fashion, is it any wonder that we turn outunskilledengineers and scientists ? If, as we are led to expect, there is a vast increase in education at all levels and the regulatory regime is as weak as it is currently, isn’t it likely that the trust deficit is only going to increase ?We are all aware of the consequences of ignoring corruption at all levels of society. While institutional failures in governance are obvious, I think the real problem lies deeper, in the failure of every day institutions that are quite apart from institutions that impinge on our lives only on rare occasions. It is true that our lives are made more miserable by government officials demanding bribes for all sorts of things, but what about the everyday lying andcheating and breaking of rules with people who are strangers ?Let me give you an example that many of us have experienced. I prefer buying my fruits and vegetables from roadside vendors rather than chain stores. To the vendor, I am probably an ideal customer, since I do not bargain and I do not take hours choosing the best pieces, instead, letting the vendor do the selecting. The market near my house is quite busy; as a result, most vendors are selling their wares to strangers. It takes a while before a particular vendor realises that I am arepeatcustomer. In such a situation trust is crucial. I have a simple rule : if a vendorpalms offa bad piece whose defects are obvious, I never go back to that person again. It is amazing how often that happens.In my opinion, the failure of institutional ethics is as much about these little abuses of trust as anything else. Everyday thievery is like roadside trash; if you let it accumulate the whole neighbourhood stinks.Q. Why, according to the author, is the behaviour of examiners a breakdown of institutional morals ?

Read the following passage carefully and answer the questions given below it. Certain words/phrases have beenunderlineto help you locate them while answering some of the questions.The modern world requires us to repose trust in many anonymous institutions. We strap ourselves in a flying tin can with two hundred other people not because we know the pilot but because we believe that airline travel is safe. Our trust in these institutions depends on two factors : skills and ethics. We expect that the people who run these institutions know what they are doing, that they build and operate machines that work as they are supposed to and that they are looking out for our welfare even though we are strangers.When one of these factors is weak or absent, trust breaks down and we either pay a high price in safety- as in the Bhopal tragedy -or a large ‘welfare premium’ such as the elaborate security measures at airports. Trust-deficient environments work in the favour of the rich and powerful, who can commandpremiumtreatment and afford welfare premiums. Poor people can command neither; which is why air travel is safer than train travel, which in turn is safer than walking by the road side.Every modern society depends on the trust in the skills and ethics of a variety of institutions such as schools and colleges, hospital and markets. If we stopped believing in theexpertiseof our teachers, doctors and engineers, we will stop being a modern society.As the Institution among institutions, it is the duty of the state to ensure that all other institutions meet their ethicalobligations. The Indian state has failed in its regulatory role. Consequently, we cannot trust our schools to turn out good graduates, we cannot ensure that our colleges turn out well trained engineers and we cannot guarantee that our engineers will turn out to be good products.Last year, I was invited to speak at an undergraduate research conference. Most of the participants in this conference were students at the best engineering colleges in the State. One student who was driving me back and forthrecounteda story about the previous year’s final exam. One of his papers had a question from a leading textbook to which the textbook’s answer was wrong. The student was in a dilemma : should he write the (wrong) answer as given in the textbook or should he write the right answer using his own analytical skills. He decided to do the latter and received a zero on that question. Clearly, as the student had suspected, the examiners were looking at the textbook answer while correcting the examination papers instead of verifying its correctness.The behaviour of these examiners is a breakdown of institutional morals, with consequences for the skills acquired by students. I say institutional morals, for the failure of these examiners is not a personal failure. At the same conference I met a whole range of college teachers, all of whom were drafted as examiners at some time or the other. Without exception, they were dedicated individuals who cared about the education and welfare of their students. However, when put in the institutional role of evaluating an anonymous individual, they fail in fulfilling their responsibilities. When some of our best colleges are run in this fashion, is it any wonder that we turn outunskilledengineers and scientists ? If, as we are led to expect, there is a vast increase in education at all levels and the regulatory regime is as weak as it is currently, isn’t it likely that the trust deficit is only going to increase ?We are all aware of the consequences of ignoring corruption at all levels of society. While institutional failures in governance are obvious, I think the real problem lies deeper, in the failure of every day institutions that are quite apart from institutions that impinge on our lives only on rare occasions. It is true that our lives are made more miserable by government officials demanding bribes for all sorts of things, but what about the everyday lying andcheating and breaking of rules with people who are strangers ?Let me give you an example that many of us have experienced. I prefer buying my fruits and vegetables from roadside vendors rather than chain stores. To the vendor, I am probably an ideal customer, since I do not bargain and I do not take hours choosing the best pieces, instead, letting the vendor do the selecting. The market near my house is quite busy; as a result, most vendors are selling their wares to strangers. It takes a while before a particular vendor realises that I am arepeatcustomer. In such a situation trust is crucial. I have a simple rule : if a vendorpalms offa bad piece whose defects are obvious, I never go back to that person again. It is amazing how often that happens.In my opinion, the failure of institutional ethics is as much about these little abuses of trust as anything else. Everyday thievery is like roadside trash; if you let it accumulate the whole neighbourhood stinks.Q. Which of the following is possibly the most appropriate title for the passage ?

Read the following passage carefully and answer the questions that follow."Exhausted." "Lost." "Anxious." "Everythings a struggle." These are just some of the ways that 54 recent college grads we recently interviewed described their experience transitioning from college to the professional world. Despite being advised to hit the ground running, many young people we spoke with felt disoriented, confused, dissatisfied, and in many cases overwhelmed with the "real world." In addition to impacting the young people themselves and their wellbeing, this intense and challenging experience affects companies, which spend time and money recruiting and training young people to join their ranks and immediately contribute to the organization. Some have attributed these struggles to millennials - that young people of this generation are particularly prone to struggle because of how self-absorbed and entitled they are. However our sense, from interviewing recent graduates and working closely with them as they transition from college to the professional world, is that there is something else at play. In our view, the main reason young people struggle isnt generational - its cultural. In particular: the very significant, but typicallyunderemphasized,cultural transition between college to the professional world. We find in our research that this culture shift plays out along at least three key dimensions: feedback, relationships, and accountability.In college, feedback is clear and consistent. You have a syllabus, which details the requirements for the semester and the standards upon which youll be graded. And then, for each assignment you submit, you receive feedback from your professor. You dont need to ask for the feedback - its provided to you directly, and typically without much personal explanation. As you might imagine, the feedback paradigm shifts entirely once a student enters the professional world. For starters, the feedback you receive at work is often less consistent and less easily decipherable than in college. Depending on your manager and your organization, you might receive very clear, detailed and consistent feedback on assignments; or you might receive feedback in an intermittent and difficult-to-decipher manner. As a result of these cultural differences, young professionals can experience a feedback vacuum in the professional world - wondering how to improve, if they need to improve, and how they can develop the skills necessary to improve at their firm and in their career.Relationships in the professional world are also very different from in college. In college, you build relationships with people you want to - and for the most part with people around your same age. Relationships evolve naturally through interactions in class, from extracurricular activities on campus, through friends of friends. And theres typically very little pressure to keep up relationships you dont enjoy. However, once students enter the professional world, they find themselves enmeshed in a very different experience of relationship building. Its no longer only solely about creating a group of fun, nice people to ________ with; its now more strategic. Relationship building in a professional environment is about developing friendships, sure, but its also about building a robust network of colleagues who can help you succeed at your job and advance in your career.Q. What is the reason given by some people for the struggle of young college grads in the professional world?

Read the following passage carefully and answer the questions that follow."Exhausted." "Lost." "Anxious." "Everythings a struggle." These are just some of the ways that 54 recent college grads we recently interviewed described their experience transitioning from college to the professional world. Despite being advised to hit the ground running, many young people we spoke with felt disoriented, confused, dissatisfied, and in many cases overwhelmed with the "real world." In addition to impacting the young people themselves and their wellbeing, this intense and challenging experience affects companies, which spend time and money recruiting and training young people to join their ranks and immediately contribute to the organization. Some have attributed these struggles to millennials - that young people of this generation are particularly prone to struggle because of how self-absorbed and entitled they are. However our sense, from interviewing recent graduates and working closely with them as they transition from college to the professional world, is that there is something else at play. In our view, the main reason young people struggle isnt generational - its cultural. In particular: the very significant, but typicallyunderemphasized,cultural transition between college to the professional world. We find in our research that this culture shift plays out along at least three key dimensions: feedback, relationships, and accountability.In college, feedback is clear and consistent. You have a syllabus, which details the requirements for the semester and the standards upon which youll be graded. And then, for each assignment you submit, you receive feedback from your professor. You dont need to ask for the feedback - its provided to you directly, and typically without much personal explanation. As you might imagine, the feedback paradigm shifts entirely once a student enters the professional world. For starters, the feedback you receive at work is often less consistent and less easily decipherable than in college. Depending on your manager and your organization, you might receive very clear, detailed and consistent feedback on assignments; or you might receive feedback in an intermittent and difficult-to-decipher manner. As a result of these cultural differences, young professionals can experience a feedback vacuum in the professional world - wondering how to improve, if they need to improve, and how they can develop the skills necessary to improve at their firm and in their career.Relationships in the professional world are also very different from in college. In college, you build relationships with people you want to - and for the most part with people around your same age. Relationships evolve naturally through interactions in class, from extracurricular activities on campus, through friends of friends. And theres typically very little pressure to keep up relationships you dont enjoy. However, once students enter the professional world, they find themselves enmeshed in a very different experience of relationship building. Its no longer only solely about creating a group of fun, nice people to ________ with; its now more strategic. Relationship building in a professional environment is about developing friendships, sure, but its also about building a robust network of colleagues who can help you succeed at your job and advance in your career.Q. How a bad feedback paradigm affects young professionals?

Read the following passage carefully and answer the questions that follow."Exhausted." "Lost." "Anxious." "Everythings a struggle." These are just some of the ways that 54 recent college grads we recently interviewed described their experience transitioning from college to the professional world. Despite being advised to hit the ground running, many young people we spoke with felt disoriented, confused, dissatisfied, and in many cases overwhelmed with the "real world." In addition to impacting the young people themselves and their wellbeing, this intense and challenging experience affects companies, which spend time and money recruiting and training young people to join their ranks and immediately contribute to the organization. Some have attributed these struggles to millennials - that young people of this generation are particularly prone to struggle because of how self-absorbed and entitled they are. However our sense, from interviewing recent graduates and working closely with them as they transition from college to the professional world, is that there is something else at play. In our view, the main reason young people struggle isnt generational - its cultural. In particular: the very significant, but typicallyunderemphasized, cultural transition between college to the professional world. We find in our research that this culture shift plays out along at least three key dimensions: feedback, relationships, and accountability.In college, feedback is clear and consistent. You have a syllabus, which details the requirements for the semester and the standards upon which youll be graded. And then, for each assignment you submit, you receive feedback from your professor. You dont need to ask for the feedback - its provided to you directly, and typically without much personal explanation. As you might imagine, the feedback paradigm shifts entirely once a student enters the professional world. For starters, the feedback you receive at work is often less consistent and less easily decipherable than in college. Depending on your manager and your organization, you might receive very clear, detailed and consistent feedback on assignments; or you might receive feedback in an intermittent and difficult-to-decipher manner. As a result of these cultural differences, young professionals can experience a feedback vacuum in the professional world - wondering how to improve, if they need to improve, and how they can develop the skills necessary to improve at their firm and in their career.Relationships in the professional world are also very different from in college. In college, you build relationships with people you want to - and for the most part with people around your same age. Relationships evolve naturally through interactions in class, from extracurricular activities on campus, through friends of friends. And theres typically very little pressure to keep up relationships you dont enjoy. However, once students enter the professional world, they find themselves enmeshed in a very different experience of relationship building. Its no longer only solely about creating a group of fun, nice people to ________ with; its now more strategic. Relationship building in a professional environment is about developing friendships, sure, but its also about building a robust network of colleagues who can help you succeed at your job and advance in your career.Q. How is relationship building in professional world different from that in college?

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Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?a)It allows for a standardized approachb)It enables exclusive and professional processingc)There is no advantage of a standalone model over a centralized modeld)It provides a better understanding of customer requirementsCorrect answer is option 'D'. Can you explain this answer?
Question Description
Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?a)It allows for a standardized approachb)It enables exclusive and professional processingc)There is no advantage of a standalone model over a centralized modeld)It provides a better understanding of customer requirementsCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?a)It allows for a standardized approachb)It enables exclusive and professional processingc)There is no advantage of a standalone model over a centralized modeld)It provides a better understanding of customer requirementsCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?a)It allows for a standardized approachb)It enables exclusive and professional processingc)There is no advantage of a standalone model over a centralized modeld)It provides a better understanding of customer requirementsCorrect answer is option 'D'. Can you explain this answer?.
Solutions for Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?a)It allows for a standardized approachb)It enables exclusive and professional processingc)There is no advantage of a standalone model over a centralized modeld)It provides a better understanding of customer requirementsCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Banking Exams. Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.
Here you can find the meaning of Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?a)It allows for a standardized approachb)It enables exclusive and professional processingc)There is no advantage of a standalone model over a centralized modeld)It provides a better understanding of customer requirementsCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?a)It allows for a standardized approachb)It enables exclusive and professional processingc)There is no advantage of a standalone model over a centralized modeld)It provides a better understanding of customer requirementsCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?a)It allows for a standardized approachb)It enables exclusive and professional processingc)There is no advantage of a standalone model over a centralized modeld)It provides a better understanding of customer requirementsCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?a)It allows for a standardized approachb)It enables exclusive and professional processingc)There is no advantage of a standalone model over a centralized modeld)It provides a better understanding of customer requirementsCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: Retail asset products of banks refer to financial products that are offered to individual customers or retail clients, rather than corporate or institutional clients. Examples of retail asset products include personal loans, credit cards, mortgages, car loans, and home equity lines of credit. These products are designed to meet the financial needs of individuals, such as buying a house or car, financing education, or consolidating debt. Retail asset products can be secured, where the borrower pledges collateral, such as a home or car, or unsecured, where no collateral is required. Banks earn revenue from retail asset products through interest charges, and these products can be an important source of income for banks.Q. What is the advantage of a standalone model over a centralized model for understanding customer requirements?a)It allows for a standardized approachb)It enables exclusive and professional processingc)There is no advantage of a standalone model over a centralized modeld)It provides a better understanding of customer requirementsCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Banking Exams tests.
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