CQIB Mock Exam Questions and Answers 2023 with
complete solution
Which of the following is accurate regarding fiscal policy?
Government spending and taxation that influences the economy.
Who runs Superannuation funds?
Trustees
Which form of debt is a popular funding option due to taxation benefits that may
be available for borrowers?
Equipment leasing
Which of the following roles do banks play in society and the economy as a
whole?
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?
Prior to 1910, banks could issue their own private bank notes.
How often is the Consumer Price Index calculated?
Quarterly
Which of the following is true regarding banks?
They are highly leveraged
How would you describe government securities and semi-government securities?
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?
It would not be justified at it is wrong to kill.
Which of the following would be considered a benefit of virtue ethics?
It provides flexibility because there are no universal 'rules' to apply when making a
decision
A code of practice which is designed to prevent unprofessional conduct by
focusing on high-level concepts such as fairness, rather than compliance with
detailed rules refers to what type of approach?
Principles based
Which of the following is true in relation to the FINSIA Code of Conduct?
Respect' is one of the FINSIA's values
Which of the following is correct regarding a corporate code of conduct?
It often contains a commitment associated with citizenship.
In respect to deontology which statement is correct?
People must do the right thing, even if it does not result in a good outcome.
Which of the following is one of the basic rules Kant proposed as being useful to
a well-ordered society?
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?
Discuss - Talk about your chosen action
, When faced with moral dilemma, you should choose the action that maximises
good outcomes?
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?
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?
$500,000
Which of the following was first introduced within Basel III?
A global framework for bank liquidity regulation
The Reserve Bank Board ensures that monetary and banking policies contribute
to which of the following?
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?
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?
Maximum claims excess
What is the maximum amount of money a company can raise via crowd-sourced
funding each year?
$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.
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?
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?
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?
Taking reasonable steps to verify the customer's financial situation.
Which statement is correct regarding security taken for residential lending?
Additional security can be taken to avoid lenders mortgage insurance.
Which of the following would be included within the comparison rate of a loan
Interest rate being applied and bank loan arrangement fees.
complete solution
Which of the following is accurate regarding fiscal policy?
Government spending and taxation that influences the economy.
Who runs Superannuation funds?
Trustees
Which form of debt is a popular funding option due to taxation benefits that may
be available for borrowers?
Equipment leasing
Which of the following roles do banks play in society and the economy as a
whole?
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?
Prior to 1910, banks could issue their own private bank notes.
How often is the Consumer Price Index calculated?
Quarterly
Which of the following is true regarding banks?
They are highly leveraged
How would you describe government securities and semi-government securities?
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?
It would not be justified at it is wrong to kill.
Which of the following would be considered a benefit of virtue ethics?
It provides flexibility because there are no universal 'rules' to apply when making a
decision
A code of practice which is designed to prevent unprofessional conduct by
focusing on high-level concepts such as fairness, rather than compliance with
detailed rules refers to what type of approach?
Principles based
Which of the following is true in relation to the FINSIA Code of Conduct?
Respect' is one of the FINSIA's values
Which of the following is correct regarding a corporate code of conduct?
It often contains a commitment associated with citizenship.
In respect to deontology which statement is correct?
People must do the right thing, even if it does not result in a good outcome.
Which of the following is one of the basic rules Kant proposed as being useful to
a well-ordered society?
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?
Discuss - Talk about your chosen action
, When faced with moral dilemma, you should choose the action that maximises
good outcomes?
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?
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?
$500,000
Which of the following was first introduced within Basel III?
A global framework for bank liquidity regulation
The Reserve Bank Board ensures that monetary and banking policies contribute
to which of the following?
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?
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?
Maximum claims excess
What is the maximum amount of money a company can raise via crowd-sourced
funding each year?
$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.
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?
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?
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?
Taking reasonable steps to verify the customer's financial situation.
Which statement is correct regarding security taken for residential lending?
Additional security can be taken to avoid lenders mortgage insurance.
Which of the following would be included within the comparison rate of a loan
Interest rate being applied and bank loan arrangement fees.
