Preview Questions Relationship Manager | Role Specific Skill

Question 1: What should a relationship manager do to ensure compliance with industry regulations while managing client relationships?

Which action should you take?

Choose only one option

Stay updated on regulatory changes and ensure that all client interactions adhere to legal standards

Limit communication to clients to avoid potential regulatory issues

Delegate all compliance tasks to the legal department

Focus only on profitability, ignoring minor regulatory requirements

Question 2: A client is considering buying a whole life insurance policy. What is the key characteristic of this product that distinguishes it from term life insurance?

Which action should you take?

Choose only one option

It requires regular premium payments, but provides no cash value

It provides lifelong coverage and has a savings or investment component that grows over time

It offers coverage only for a fixed term, with no investment options

It is cheaper than term life insurance and offers higher death benefits

Question 3: How should a relationship manager respond when a client expresses concern over the performance of their portfolio?

Which action should you take?

Choose only one option

Recommend transferring to another manager without providing any reasoning

Ignore the concern and continue as planned

Suggest the client reduce their expectations for future returns

Address the concern immediately with a detailed analysis and potential adjustment to the portfolio

Question 4: How can a Relationship Manager improve client engagement in a negotiation setting where the client is non-committal?

Which action should you take?

Choose only one option

Force the client to make a decision in a short time frame

Push for immediate closure on the deal regardless of the client's hesitation

Focus only on the product's features, ignoring the client's preferences

Use open-ended questions to better understand the client's needs and tailor the proposal accordingly

Question 5: In the context of negotiating an agreement for a long-term partnership with a financial institution, what is the best way to ensure that both parties are satisfied?

Which action should you take?

Choose only one option

Ensure transparency, open communication, and flexibility in the terms to meet both sides' expectations

Offer fixed terms with no room for flexibility

Focus only on the immediate benefits without considering future requirements

Push for the best possible terms for your institution, regardless of the other party's needs

Question 6: How can you use data analytics to improve client relationship management?

Which action should you take?

Choose only one option

Analyze client behavior, transaction history, and preferences to offer personalized recommendations

Use data to make generic recommendations for all clients

Avoid data analytics and rely on intuition

Track only the most profitable clients, ignoring smaller ones