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CQIB Study Questions & Answers 100% Solved
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CQIB Study Questions & Answers 100% Solved What are the key ethical concepts of understanding the ethics of data analysis? Privacy and consent
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CQIB Study Questions & Answers 100%Solved
What are the key ethical concepts of understanding the ethics of data analysis? Correct Ans-
Privacy and consent
What are the 2 concepts for people who bear the responsibility for bad or faulty decisions?
Correct Ans-1. Moral Agent
2. Moral Responsibility
What are the features of a Profession? Correct Ans-A disciplined group of individuals who
adhere to ethical standards.
What are the 6 Aspects in Professional code? Correct Ans-1. Trustworthiness
2. Respect for human rights and dignity
3. Responsibility
4. Fairness
5. Caring and doing no harm
6. Citizenship
What is Rules Based approach in Conduct? Correct Ans-Prescriptive in that it clearly sets out
what a member or employee can or cannot do. This focus on compliance is designed to leave
little room for misunderstanding.
,What is Principles based approach in Conduct? Correct Ans-Sets out the broad, 'high-level'
principles for members to comply with. As this approach is more about providing guidance that
can be applied to various circumstances.
What does the 3 Principle Based codes refer to? Correct Ans-1. Act in the public interest
2. Adopting ethical or high-level principles
3. A framework, which defines the safeguards that should be applied to address the Threats posed
by non-compliance
What are the 4 FINSIA Values from the Code of Conduct? Correct Ans-1. Integrity
2. Professionalism
3. Objectivity
4. Respect
What are the 5 Threats to Professionalism? Correct Ans-1. Self-interest
2. Self-review
3. Advocacy
4. Familiarity
5. Intimidation
Who are key regulators? Correct Ans-1. Reserve Bank of Australia - RBA
2. Australian Securities and Investments Commission - ASIC
3. Australian Prudential Regulation Authority - APRA
,The Council of Financial Regulators (CFR) regulatory agencies and aims to? Correct Ans-1.
Advise government on the adequacy of Australia's financial regulatory arrangements
2. Facilitate sharing of information amongst members
Which of the following is NOT one of the principles of responsible banking put forward by
UNEP? Correct Ans-Corporate Social Responsibility
Samuel explains that the XYZ savings booster account has a bonus interest rate and is a good
choice for customers who want a higher return on their account and do not need to access their
funds. What type of advice is Samuel providing? Correct Ans-General advice
Which document/s must be provided prior to providing General Advice? Correct Ans-FSG
and Product Disclosure Statement and General Advice Warning
Sarah is asked by a customer "I am 25 and looking for a low interest rate and great rewards.
What credit card would you recommend?" Sarah states "We offer two credit card products that
suit your life stage, and both have a strong rewards program. I recommend you look at both of
these products and apply them to your situation." Sarah is providing which of the following?
Correct Ans-General financial advice
Which of the following describes the risk associated with the vulnerability of a line of business
to changes in the business environment? Correct Ans-Business risk
, The risk that problems arise in other internal business channels which could compromise the
financial and operational position of the ADI is referred to as what type of Risk? Correct Ans-
Related entity (Contagion) Risk
Absolute risk is? Correct Ans-There is either a chance of loss or no loss
How is a risk score calculated? Correct Ans-Combination of probability/likelihood and
consequence/impact
What is underwriting? Correct Ans-The process by which an insurer determines whether or
not, and what basis, to accept a particular risk
A cheque will not be considered valid without which of the following? Correct Ans-1.
Drawer signature
2. Monetary amount
3. Date
Which type of account is a tax-effective account that allows primary producers to set aside pre-
tax income as a cash reserve? Correct Ans-Farm management deposit account
What is liquidity risk? Correct Ans-The potential inability of a bank to meet its payment
obligations in a timely and cost-effective manner
A bank's balance sheet comprises the following liabilities: Correct Ans-1. Share Capital
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