10+ MasterCard Interview Questions and Answers

There are various types of accounts such as savings, checking, credit, and investment accounts.

• Savings accounts are used to save money and earn interest

• Checking accounts are used for daily transactions and paying bills

• Credit accounts are used to borrow money and pay it back with interest

• Investment accounts are used to invest money in stocks, bonds, and other securities

Growth in banking refers to the increase in assets, profits, and customer base of a bank over time.

• Growth can be achieved through expanding the bank's product offerings and services.

• Acquiring new customers and retaining existing ones is crucial for growth.

• Opening new branches or expanding into new markets can also contribute to growth.

• Investing in technology and innovation can improve efficiency and attract new customers.

• Examples of banks that have experienced significant gro...read more

There are two types of exchange: bilateral and multilateral.

• Bilateral exchange involves two parties exchanging goods, services, or information directly.

• Multilateral exchange involves multiple parties exchanging goods, services, or information.

• Examples of bilateral exchange include a buyer and seller negotiating a price, or two individuals sharing information.

• Examples of multilateral exchange include a marketplace where multiple buyers and sellers interact, or a conference whe...read more

Family banking is a banking service that caters to the financial needs of families as a whole.

• It offers joint accounts for families to manage their finances together

• It provides financial planning and investment advice for families

• It may offer special rates or discounts for family members

• Examples include Wells Fargo's Family Banking program and Bank of America's Keep the Change program

Documents required for personal loan include proof of identity, address, income, and employment.

• Proof of identity (e.g. passport, driver's license, Aadhar card)

• Proof of address (e.g. utility bills, rental agreement)

• Proof of income (e.g. salary slips, bank statements)

• Proof of employment (e.g. employment letter, job contract)

Retail assets refer to the products or goods that a retail business owns and sells to customers.

• Retail assets can include physical products such as clothing, electronics, and groceries.

• They can also include intangible assets such as brand reputation and customer loyalty.

• Retail assets are important for a business's success as they generate revenue and attract customers.

• Examples of retail assets include inventory, store fixtures, and intellectual property.

• Effective management o...read more

There are approximately 2.1 million people employed in the banking industry in the United States.

• The banking industry includes a wide range of job roles, from tellers and loan officers to investment bankers and financial analysts.

• The number of people employed in banking can vary by country and region.

• The banking industry has undergone significant changes in recent years, with the rise of online banking and fintech startups.

• Some of the largest banks in the United States includ...read more

Growth refers to the process of increasing in size, quantity, or value over time.

• Growth can refer to physical growth, such as the growth of a plant or animal.

• It can also refer to economic growth, such as the growth of a company or country's GDP.

• Personal growth refers to the process of self-improvement and development.

• Growth can be measured in various ways, such as through financial metrics or physical measurements.

• Examples of growth include a child growing taller, a company i...read more

Products in a bank include savings accounts, checking accounts, loans, credit cards, and investment products.

• Savings accounts

• Checking accounts

• Loans

• Credit cards

• Investment products

Current account features include overdraft facility, cheque book, debit card, online banking, and interest on balance.

• Overdraft facility allows customers to withdraw more money than they have in their account, up to a certain limit.

• Cheque book enables customers to write checks for payments.

• Debit card can be used for ATM withdrawals and purchases.

• Online banking allows customers to manage their account and make transactions online.

• Some current accounts offer interest on the bal...read more