Empire Trust Microfinance Bank Aptitude Test Questions and Answers

Empire Trust Microfinance Bank Aptitude Test Questions and Answers

Here are 20 multiple-choice questions related to Empire Trust Microfinance Bank:

What is the primary function of Empire Trust Microfinance Bank?

a) Retailing consumer electronics

b) Providing microloans to individuals and businesses

c) Operating a chain of restaurants

d) Manufacturing industrial machinery

Answer: b) Providing microloans to individuals and businesses

When was Empire Trust Microfinance Bank founded?

a) 1990

b) 2005

c) 2010

d) 2020

Answer: b) 2005

Which country is the headquarters of Empire Trust Microfinance Bank located in?

a) United States

b) United Kingdom

c) Nigeria

d) South Africa

Answer: c) Nigeria

What types of financial services does Empire Trust Microfinance Bank offer?

a) Investment banking

b) Mortgage loans

c) Savings and microloans

d) Cryptocurrency trading

Answer: c) Savings and microloans

Who is the founder of Empire Trust Microfinance Bank?

a) Mark Zuckerberg

b) Aliko Dangote

c) Bill Gates

d) Dr. Emma Emeje

Answer: d) Dr. Emma Emeje

Which regulatory body oversees microfinance banks in Nigeria?

a) SEC (Securities and Exchange Commission)

b) CBN (Central Bank of Nigeria)

c) IMF (International Monetary Fund)

d) WHO (World Health Organization)

Answer: b) CBN (Central Bank of Nigeria)

What is the minimum age requirement for opening a savings account at Empire Trust Microfinance Bank?

a) 10 years

b) 18 years

c) 21 years

d) 30 years

Answer: b) 18 years

Which of the following is not a core value of Empire Trust Microfinance Bank?

a) Integrity

b) Innovation

c) Excellence

d) Extravagance

Answer: d) Extravagance

In which Nigerian state is Empire Trust Microfinance Bank headquartered?

a) Lagos

b) Abuja

c) Kano

d) Enugu

Answer: a) Lagos

What is the interest rate typically charged on microloans by Empire Trust Microfinance Bank?

a) 0%

b) 5%

c) 10%

d) 20%

Answer: c) 10%

What is the maximum tenure (duration) of a microloan from Empire Trust Microfinance Bank?

a) 1 month

b) 6 months

c) 12 months

d) 5 years

Answer: c) 12 months

Which of the following is NOT a channel for accessing Empire Trust Microfinance Bank's services?

a) Online banking

b) Mobile app

c) Telegram

d) Physical branches

Answer: c) Telegram

What is the primary objective of Empire Trust Microfinance Bank?

a) To maximize profits for shareholders

b) To alleviate poverty and empower the underprivileged

c) To promote luxury lifestyle

d) To fund large corporations

Answer: b) To alleviate poverty and empower the underprivileged

How does Empire Trust Microfinance Bank contribute to financial inclusion in Nigeria?

a) By exclusively serving high-net-worth individuals

b) By offering complex financial products

c) By providing accessible financial services to the unbanked and underbanked

d) By focusing on international clients

Answer: c) By providing accessible financial services to the unbanked and underbanked

Which of the following is an example of a microloan purpose offered by Empire Trust Microfinance Bank?

a) Buying a luxury car

b) Expanding a business

c) Funding a world tour

d) Purchasing a yacht

Answer: b) Expanding a business

What is the role of the Central Bank of Nigeria (CBN) in regulating microfinance banks like Empire Trust Microfinance Bank?

a) CBN provides microloans directly to customers

b) CBN sets policies and regulations to ensure stability and sound operations

c) CBN operates as a direct competitor to microfinance banks

d) CBN conducts regular audits of microfinance bank employees

Answer: b) CBN sets policies and regulations to ensure stability and sound operations

What is the maximum deposit insurance coverage for deposits held at Empire Trust Microfinance Bank?

a) No insurance coverage

b) N100,000 per depositor

c) Unlimited coverage

d) N10,000,000 per depositor

Answer: b) N100,000 per depositor

Which of the following is NOT a branch location of Empire Trust Microfinance Bank?

a) Victoria Island Branch

b) Ikeja Branch

c) Silicon Valley Branch

d) Apapa Branch

Answer: c) Silicon Valley Branch

What is the mission statement of Empire Trust Microfinance Bank?

a) "Making every Nigerian a millionaire"

b) "Delivering world-class financial services with integrity"

c) "Exclusively serving the elite"

d) "Focusing on short-term profits"

Answer: b) "Delivering world-class financial services with integrity"

How can customers contact Empire Trust Microfinance Bank's customer support?

a) By sending a carrier pigeon

b) Through email, phone, or visiting a branch

c) By telepathy

d) By using smoke signals

Answer: b) Through email, phone, or visiting a branch.