CQIB EXAM 2025 COMPLETE EXAM QUESTIONS AND VERIFIED
CQIB -PRACTICE QUESTIONS
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SOLVED!!
1. Q2 - Select the answer that describes Consequential- c) The right decision is
ism: the one achieving the best
outcome with least harm.
a) The study of what I should do.
b) It is in favour of universal rules that apply to every-
one.
c) The right decision is the one achieving the best
outcome with least harm.
d) It is opposed to universal rules.
2. "Mutually owned co-operative financial institutions of- c) Friendly Society
fering benefits to members through a trust-like struc-
ture" describes which type of Insurer/Fund Manager?
a) Trustee Company
b) Cash Management Trust
c) Friendly Society
d) Approved Deposit Fund (ADF)
3. Q3 - Confidentiality applies not to only account trans- a) True
actions, but also to all the information the bank holds
about the customer.
a) True
b) False
4. Q4 - Which of the following is NOT one of the six steps c) Provide recommenda-
you should use to ensure you only provide general tions based on the needs
advice to the customer? of the client
a) Assessing your customers concerns and needs
b) Providing a general advice warning
c) Provide recommendations based on the needs of
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the client
d) Refer your customer to a specialist
5. Q5 - Which is the decision-making process of fram- d) To remove the 'noise'
ing? from an issue to allow us
to see the problem for
a) To make an easy decision, but not necessarily the what it is
best possible decision
b) To conclude that the best solution is to make no
decision
c) To make a slow, deliberate decision over a fast,
intuitive decision
d) To remove the 'noise' from an issue to allow us to
see the problem for what it is
6. Q6 - Under the RG271 what is the maximum time- c) 45 days after receiving
frames for IDR response for a Superannuation trustee the complaint
complaints?
A) 21 days after receiving the complaint
b) 30 days after receiving the complaint
c) 45 days after receiving the complaint
d) 90 days after receiving the complaint
7. Q7 - In the second line of defence, the Risk and Control d) (a) and (c)
Functions include:
a) Review and challenge risk management processes
b) Objective assessment and offer assurance
c) Provide guidance and direction
d) (a) and (c)
8. Q8 - "When recording all information about a particu- b) Step One - Recognise
lar ethical dilemma, it's essential to critically analyse
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the value judgements being made by each person
involved as they record their version of events" What
step of the five-step ethical decision model is this
statement referring to?
a) Step Two - Facts
b) Step One - Recognise
c) Step Four - Act.
d) Step Three - Discuss
9. Q9 - The Australian Prudential Regulation Authority d) (b) and (c)
(APRA):
a) Provide regulatory oversight to self-managed su-
perfunds
b) Make and enforce the rules which govern the capi-
tal adequacy of Australian banks
c) Ensures Australian banks meet their financial
promises
d) (b) and (c)
10. Q10 - What is a feature or benefit of a Term Deposit? c) Terms offered generally
range from 30 days to 60
a) Pays a higher rate of interest with a limited number months
of withdrawals
b) Access funds using a card at an ATM
c) Terms offered generally range from 30 days to 60
months
d) Only available to people over 55 years of age
11. Q11 - The ______________ stage of the customer life cy- d) Empty Nesters
cle is where individuals have minimal or no outstand-
ing debt
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a) Youth
b) Independent
c) Retirement
d) Empty Nesters
12. Q12 - Most financial transactions entered into Banks d) Closing a savings ac-
and other financial institutions involve some sort of count
contract. Which of the following does NOT:
a) Insurance policy
b) Finance company agreement
c) Loan agreements
d) Closing a savings account
13. Q13 - What is a honeymoon rate? c) Discounted interest rate
for set period of loan
a) It provides certainty of knowing what repayments
are
b) The rate fluctuates
c) Discounted interest rate for set period of loan
d) Restrictions on making additional repayments dur-
ing the loan
14. Q14 - What is the role of Internal Audit? c) Review 1st and 2nd line
activities; and to provide
a) Provide guidance and direction an independent perspec-
b) Apply internal controls and risk responses tive and challenge
c) Review 1st and 2nd line activities; and to provide an
independent perspective and challenge
d) Develop risk management frameworks
15. Q15 - Who is NOT a price taker? d) (b) and (c)
CQIB -PRACTICE QUESTIONS
ANSWERS |RECENTLY TESTING REAL EXAM QUESTIONS| 100%
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SOLVED!!
1. Q2 - Select the answer that describes Consequential- c) The right decision is
ism: the one achieving the best
outcome with least harm.
a) The study of what I should do.
b) It is in favour of universal rules that apply to every-
one.
c) The right decision is the one achieving the best
outcome with least harm.
d) It is opposed to universal rules.
2. "Mutually owned co-operative financial institutions of- c) Friendly Society
fering benefits to members through a trust-like struc-
ture" describes which type of Insurer/Fund Manager?
a) Trustee Company
b) Cash Management Trust
c) Friendly Society
d) Approved Deposit Fund (ADF)
3. Q3 - Confidentiality applies not to only account trans- a) True
actions, but also to all the information the bank holds
about the customer.
a) True
b) False
4. Q4 - Which of the following is NOT one of the six steps c) Provide recommenda-
you should use to ensure you only provide general tions based on the needs
advice to the customer? of the client
a) Assessing your customers concerns and needs
b) Providing a general advice warning
c) Provide recommendations based on the needs of
, CQIB -PRACTICE QUESTIONS
Study online at https://quizlet.com/_gcunqr
the client
d) Refer your customer to a specialist
5. Q5 - Which is the decision-making process of fram- d) To remove the 'noise'
ing? from an issue to allow us
to see the problem for
a) To make an easy decision, but not necessarily the what it is
best possible decision
b) To conclude that the best solution is to make no
decision
c) To make a slow, deliberate decision over a fast,
intuitive decision
d) To remove the 'noise' from an issue to allow us to
see the problem for what it is
6. Q6 - Under the RG271 what is the maximum time- c) 45 days after receiving
frames for IDR response for a Superannuation trustee the complaint
complaints?
A) 21 days after receiving the complaint
b) 30 days after receiving the complaint
c) 45 days after receiving the complaint
d) 90 days after receiving the complaint
7. Q7 - In the second line of defence, the Risk and Control d) (a) and (c)
Functions include:
a) Review and challenge risk management processes
b) Objective assessment and offer assurance
c) Provide guidance and direction
d) (a) and (c)
8. Q8 - "When recording all information about a particu- b) Step One - Recognise
lar ethical dilemma, it's essential to critically analyse
, CQIB -PRACTICE QUESTIONS
Study online at https://quizlet.com/_gcunqr
the value judgements being made by each person
involved as they record their version of events" What
step of the five-step ethical decision model is this
statement referring to?
a) Step Two - Facts
b) Step One - Recognise
c) Step Four - Act.
d) Step Three - Discuss
9. Q9 - The Australian Prudential Regulation Authority d) (b) and (c)
(APRA):
a) Provide regulatory oversight to self-managed su-
perfunds
b) Make and enforce the rules which govern the capi-
tal adequacy of Australian banks
c) Ensures Australian banks meet their financial
promises
d) (b) and (c)
10. Q10 - What is a feature or benefit of a Term Deposit? c) Terms offered generally
range from 30 days to 60
a) Pays a higher rate of interest with a limited number months
of withdrawals
b) Access funds using a card at an ATM
c) Terms offered generally range from 30 days to 60
months
d) Only available to people over 55 years of age
11. Q11 - The ______________ stage of the customer life cy- d) Empty Nesters
cle is where individuals have minimal or no outstand-
ing debt
, CQIB -PRACTICE QUESTIONS
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a) Youth
b) Independent
c) Retirement
d) Empty Nesters
12. Q12 - Most financial transactions entered into Banks d) Closing a savings ac-
and other financial institutions involve some sort of count
contract. Which of the following does NOT:
a) Insurance policy
b) Finance company agreement
c) Loan agreements
d) Closing a savings account
13. Q13 - What is a honeymoon rate? c) Discounted interest rate
for set period of loan
a) It provides certainty of knowing what repayments
are
b) The rate fluctuates
c) Discounted interest rate for set period of loan
d) Restrictions on making additional repayments dur-
ing the loan
14. Q14 - What is the role of Internal Audit? c) Review 1st and 2nd line
activities; and to provide
a) Provide guidance and direction an independent perspec-
b) Apply internal controls and risk responses tive and challenge
c) Review 1st and 2nd line activities; and to provide an
independent perspective and challenge
d) Develop risk management frameworks
15. Q15 - Who is NOT a price taker? d) (b) and (c)
