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CQIB MOCK EXAM QUESTIONS AND ANSWERS
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CQIB MOCK EXAM QUESTIONS AND ANSWERS
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CQIB MOCK EXAM QUESTIONS AND ANSWERSWhich of the following is accurate regarding fiscal policy? - Answers- Government
spending and taxation that influences the economy.
Who runs Superannuation funds? - Answers- Trustees
Which form of debt is a popular funding option due to taxation benefits that may be
available for borrowers? - Answers- Equipment leasing
Which of the following roles do banks play in society and the economy as a whole? -
Answers- Facilitate the creation of money, act as a financial intermediary and contribute
to the economy's development
Which one of the following is accurate in relation to Australian banking history? -
Answers- Prior to 1910, banks could issue their own private bank notes.
How often is the Consumer Price Index calculated? - Answers- Quarterly
Which of the following is true regarding banks? - Answers- They are highly leveraged
Which of the following is one of the basic rules Kant proposed as being useful to a well-
ordered society? - Answers- Deontology - You can not use people as a means to an
end
The action to step back and rethink or adjust your intended course of action is part of
which step in the Five Step Approach to Ethical Dilemmas? - Answers- Discuss - Talk
about your chosen action
When faced with moral dilemma, you should choose the action that maximises good
outcomes? - Answers- Consequentialism
What term is applied to a person who holds a legal or ethical relationship of trust with
one or more parties, usually relating to the care of money or other assets? - Answers-
Fiduciary
Claire has just received an inheritance from one of her aunts and is considering
investing a large lump sum into an investment account. Under the Corporations Act
2001, she will be defined as a retail client unless she invests in excess of what minimum
sum? - Answers- $500,000
Which of the following was first introduced within Basel III? - Answers- A global
framework for bank liquidity regulation
, The Reserve Bank Board ensures that monetary and banking policies contribute to
which of the following? - Answers- The stability of the Australian dollar, maintaining full
employment and the economic prosperity and welfare of the people of Australia
Which of the following is correct regarding a bank's lending products? - Answers-
Customers usually have up to 25 days from the last day of the statement cycle to make
their credit card repayment.
Which of the following is not a common type of insurance excess for motor vehicle
policies? - Answers- Maximum claims excess
What is the maximum amount of money a company can raise via crowd-sourced
funding each year? - Answers- $5 million
When the underwriter is making a decision regarding an insurance application they are
primarily looking to ensure the insurance makes sense. There are generally three key
questions the underwriter considers. - Answers- 1. Does the sum insured suit the
person's needs?
2. Does the type of insurance suit the person's needs?
3. Does the premium appear affordable?
Providing fair treatment to customers who are experiencing vulnerability which action
would be considered out scope? - Answers- Providing information about a customer at
the request of someone acting in the capacity of carer.
Which of the following is true regarding retail and wholesale clients? - Answers-
Wholesale clients can access a wider range of investments and products than retail
clients.
Which statement is not considered a key step in complying with the National Credit Act?
- Answers- Taking reasonable steps to verify the customer's financial situation.
Which statement is correct regarding security taken for residential lending? - Answers-
Additional security can be taken to avoid lenders mortgage insurance.
Which of the following would be included within the comparison rate of a loan -
Answers- Interest rate being applied and bank loan arrangement fees.
How would you describe government securities and semi-government securities? -
Answers- High Quality Liquid Assets
How would a deontologist view justify killing a person about to commit a terrorist act if it
meant saving the lives of many others? - Answers- It would not be justified at it is wrong
to kill.
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