PMI-ACP Practice Questions #91
A financial services company is developing a mobile banking application to improve customer experience and provide essential banking services via mobile, ensuring easy access to the most frequently used banking facilities.
The Product Owner and the development team are conducting a backlog refinement session to decide which features should be included in the first release.
During the discussion, four key features are proposed:
Which TWO features should be prioritized for the first release?
A. Account Balance – Allows users to view their real-time account balance and recent transactions.
B. Managing Utility Bills – Provides functionality for users to pay utility bills and schedule recurring payments.
C. Fund Transfer – Enables customers to transfer money between accounts within the same bank or to other banks.
D. Download Last Year’s Transactions – Allows users to download their past transaction history for up to a year.
Analysis
When prioritizing features for the first release of a mobile banking application, the focus should be on essential banking services that are frequently used by customers. The goal is to improve customer experience by providing core functionalities that most users will expect in a mobile banking app.
Among the four options, the two most essential features would be checking account balance (since users need to know how much money they have) and fund transfers (as transferring money is a primary function of mobile banking). Other features, like utility bill payments and downloading a year’s transaction history, are useful but not as fundamental to the minimum viable product (MVP) for a banking app.
Analysis of Options
A: Account Balance – Allows users to view their real-time account balance and recent transactions.
This is a high-priority feature because checking balances is one of the most common banking activities. Users frequently open their banking app to check their available balance before making payments or transfers. Real-time balance updates are a core expectation in any mobile banking system.
B: Managing Utility Bills – Provides functionality for users to pay utility bills and schedule recurring payments.
While bill payment is a useful feature, it is not necessarily used by all customers. Some users prefer to pay bills through other platforms or via auto-debit. Since the first release should focus on the most essential and frequently used banking functions, this feature is not as critical as checking balances or making transfers.
C: Fund Transfer – Enables customers to transfer money between accounts within the same bank or to other banks.
This is a must-have feature because money transfers are a primary function of any banking app. Users need to be able to move funds between their own accounts or send money to others. Without this feature, the app would not fulfill one of the core expectations of mobile banking.
D: Download Last Year’s Transactions – Allows users to download their past transaction history for up to a year.
While having access to past transactions is helpful, it is not an urgent feature for the first release. Users typically review recent transactions rather than needing a full year’s history. If needed, they can usually get detailed statements via web banking or by requesting them from customer support. This feature can be introduced in a later update.
Conclusion
The best choices for the first release are Option A (Account Balance) and Option C (Fund Transfer) because they represent the core functionalities that users expect in a mobile banking app. These features provide immediate value, ensuring that users can check their balances and transfer funds, making the app functional and useful from day one.
PMI – ACP Exam Content Outline Mapping
| Domain | Task |
| Product | Refine Product Backlog |
| Product | Manage Value Delivery |
Topics Covered:
- Prioritizing core functionalities for a Minimum Viable Product (MVP)
- Identifying high-value features that align with customer expectations
- Ensuring the first release includes the most frequently used banking functions
- Balancing essential features with long-term scalability
- Delivering incremental value through subsequent updates
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