CQIB EXAMINATION TEST 2026 SOLVED
QUESTIONS AND PRACTICE SOLUTION
FULL COVERAGE GRADED A+
⩥ What is an Act. Answer: is legislation (or law) passed by parliament
which sets out the broad legal/policy priciples
⩥ what are regulations, rules or codes. Answer: guidelines to indicate
how the provisions of the act are implied
⩥ what are the 3 main regulators in Australia. Answer: RBA
ASIC
APRA
⩥ what is the RBA responsibilities. Answer: responsible for the
monetary policy, overall stability of the financial system and regulation
of the payments system.
⩥ what are ASIC's responsibilities. Answer: responsibility for market
integrity or consumer protection across the financial system
, ⩥ what are APRA's responsibilities. Answer: responsibility for
prudential supervision of banks, building societies, life & general
insurance, companies and superannuation funds
⩥ what are the ways to stay up to date with regulatory changes in
banking. Answer: review financial press
staff training
websites - RBA, ASIC, APRA, ACC & Austrac
⩥ what are the 4 clearing and settlement systems. Answer: ASX Clear
ASX clear (futures)
Austraclear
CHESS
⩥ what year are the Acts that each of the 3 regulators comply to?
(APRA, ASIC & RBA). Answer: RBA - 1959
APRA - 1959 & 1998
ASIC - 2001
⩥ when was the new payments platform formed?. Answer: December
2014
⩥ what are the main functions of the RBA and how does it promote
financial stability?. Answer: manage monetary policy in Aus
QUESTIONS AND PRACTICE SOLUTION
FULL COVERAGE GRADED A+
⩥ What is an Act. Answer: is legislation (or law) passed by parliament
which sets out the broad legal/policy priciples
⩥ what are regulations, rules or codes. Answer: guidelines to indicate
how the provisions of the act are implied
⩥ what are the 3 main regulators in Australia. Answer: RBA
ASIC
APRA
⩥ what is the RBA responsibilities. Answer: responsible for the
monetary policy, overall stability of the financial system and regulation
of the payments system.
⩥ what are ASIC's responsibilities. Answer: responsibility for market
integrity or consumer protection across the financial system
, ⩥ what are APRA's responsibilities. Answer: responsibility for
prudential supervision of banks, building societies, life & general
insurance, companies and superannuation funds
⩥ what are the ways to stay up to date with regulatory changes in
banking. Answer: review financial press
staff training
websites - RBA, ASIC, APRA, ACC & Austrac
⩥ what are the 4 clearing and settlement systems. Answer: ASX Clear
ASX clear (futures)
Austraclear
CHESS
⩥ what year are the Acts that each of the 3 regulators comply to?
(APRA, ASIC & RBA). Answer: RBA - 1959
APRA - 1959 & 1998
ASIC - 2001
⩥ when was the new payments platform formed?. Answer: December
2014
⩥ what are the main functions of the RBA and how does it promote
financial stability?. Answer: manage monetary policy in Aus
