CQIB EXAM NEWEST 2026 ACTUAL EXAM TEST
BANK| CERTIFICATE OF QUALIFIED INSURANCE
BROKER (CQIB) EXAM PREP WITH 550 REAL EXAM
QUESTIONS AND CORRECT VERIFIED ANSWERS/
ALREADY GRADED A+ (MOST RECENT!!)
How often is the CPI calculated -ANSWER- Quarterly
What ethical theory supports the following " When faced with an ethical
dilemma, you should choose the action that maximizes good outcomes"
-ANSWER- Consequentialist Ethics
What is one of the Benefits of VIRTUE ETHICS -ANSWER- It allows
flexibility as there are no rules to apply
Which of the common approaches to ethics considers that the right thing
to do is your duty -ANSWER- Deontology
Under the Corporations ACT 2001 what is a Retail client -ANSWER-
Invests under $500K
What is the process of underwriting called -ANSWER- Selection
How many days prior to the policy renewal date must an insurer tell the
policyholder whether it is prepared to renew the contract -ANSWER- 14
days
pg. 1
,What distinct advantage does farm management deposit accounts offer
farmers compared to other account types -ANSWER- Primary producers
can set aside pretax income as a cash reserve
What is the second stage of complaints handling -ANSWER- Obtain all
the relevant facts
At which stage of the life cycle are people most likely to have high
levels of debt -ANSWER- Family
Before giving general advice to customer, what document must you
provide to them -ANSWER- Financial Services Guide
What are the 4C of credit? -ANSWER- character
capacity
capital
conditions
To Comply with requirements laid down by APRA a Banks residential
mortgage lending must not exceed what annual growth percentage -
ANSWER- 10%
Apart from risk What can affect interest rates -ANSWER- The Loan
Term
The amount of overall borrowings
The number of dependents of the borrowers
pg. 2
,A good security can be characterized by -ANSWER- The simplicity of
ownership
Stability of value
Location
In the three lines of defense model, which actions will be undertaken by
internal audit -ANSWER- Provide objective assessment and offer
assurance
Provide an Independent perspective and challenge as needed
Banking Executive Accountability regime has been extended to include
all APRA regulated entities, what is this now called -ANSWER-
Financial Accountability Regime
To be effective a key risk indicator must be what? -ANSWER-
Comparable
What items would you see on the Liabilities side of a bank’s balance
sheet -ANSWER- Debt Issues
Share Capital
Other Demand Deposits
Which threat is both real and imminent within the payments industry -
ANSWER- Disintermediation
What were three amendments made to the Corporations ACT in 2021 -
ANSWER- Conflict Remuneration
pg. 3
, Scaled Advice
Fees Disclosure
The CFR (Council of Financial Regulators) members are made up of -
ANSWER- Treasury
RBA
ASIC
APRA
What are some of the goals of the payment system board -ANSWER- -
To control risk in the financial systems
-Promote the efficiency of the Payment System
-Promote competition in the market for payment services
Which body regulates insurance under the Insurance Act 1973? -
ANSWER- APRA
What were the risks addressed by Basel II? -ANSWER- - Credit Risk
- Operational Risk
- Market Risk
What are elements of a valid contract -ANSWER- Legality of the
Agreement
Offer & Acceptance
Legal Capacity of the Parties to Act
pg. 4
BANK| CERTIFICATE OF QUALIFIED INSURANCE
BROKER (CQIB) EXAM PREP WITH 550 REAL EXAM
QUESTIONS AND CORRECT VERIFIED ANSWERS/
ALREADY GRADED A+ (MOST RECENT!!)
How often is the CPI calculated -ANSWER- Quarterly
What ethical theory supports the following " When faced with an ethical
dilemma, you should choose the action that maximizes good outcomes"
-ANSWER- Consequentialist Ethics
What is one of the Benefits of VIRTUE ETHICS -ANSWER- It allows
flexibility as there are no rules to apply
Which of the common approaches to ethics considers that the right thing
to do is your duty -ANSWER- Deontology
Under the Corporations ACT 2001 what is a Retail client -ANSWER-
Invests under $500K
What is the process of underwriting called -ANSWER- Selection
How many days prior to the policy renewal date must an insurer tell the
policyholder whether it is prepared to renew the contract -ANSWER- 14
days
pg. 1
,What distinct advantage does farm management deposit accounts offer
farmers compared to other account types -ANSWER- Primary producers
can set aside pretax income as a cash reserve
What is the second stage of complaints handling -ANSWER- Obtain all
the relevant facts
At which stage of the life cycle are people most likely to have high
levels of debt -ANSWER- Family
Before giving general advice to customer, what document must you
provide to them -ANSWER- Financial Services Guide
What are the 4C of credit? -ANSWER- character
capacity
capital
conditions
To Comply with requirements laid down by APRA a Banks residential
mortgage lending must not exceed what annual growth percentage -
ANSWER- 10%
Apart from risk What can affect interest rates -ANSWER- The Loan
Term
The amount of overall borrowings
The number of dependents of the borrowers
pg. 2
,A good security can be characterized by -ANSWER- The simplicity of
ownership
Stability of value
Location
In the three lines of defense model, which actions will be undertaken by
internal audit -ANSWER- Provide objective assessment and offer
assurance
Provide an Independent perspective and challenge as needed
Banking Executive Accountability regime has been extended to include
all APRA regulated entities, what is this now called -ANSWER-
Financial Accountability Regime
To be effective a key risk indicator must be what? -ANSWER-
Comparable
What items would you see on the Liabilities side of a bank’s balance
sheet -ANSWER- Debt Issues
Share Capital
Other Demand Deposits
Which threat is both real and imminent within the payments industry -
ANSWER- Disintermediation
What were three amendments made to the Corporations ACT in 2021 -
ANSWER- Conflict Remuneration
pg. 3
, Scaled Advice
Fees Disclosure
The CFR (Council of Financial Regulators) members are made up of -
ANSWER- Treasury
RBA
ASIC
APRA
What are some of the goals of the payment system board -ANSWER- -
To control risk in the financial systems
-Promote the efficiency of the Payment System
-Promote competition in the market for payment services
Which body regulates insurance under the Insurance Act 1973? -
ANSWER- APRA
What were the risks addressed by Basel II? -ANSWER- - Credit Risk
- Operational Risk
- Market Risk
What are elements of a valid contract -ANSWER- Legality of the
Agreement
Offer & Acceptance
Legal Capacity of the Parties to Act
pg. 4
