UNIT 4 LIBF TOPICS 1 - 9 (ALL) REVIEWED
QUESTIONS AND ANSWERS |GRADED A+
Broadsheets - Newspapers that provide in-depth coverage, with a serious
tone to their articles and editorials, eg The Times and The Guardian.
Expert bias - Using an expert from just one side of a debate, meaning that
other perspectives are not put forward.
Financial press - Newspapers and magazines aimed at the financially
literate and industry practitioners, eg Financial Times.
Libor scandal - The discovery that some banks had manipulated the
interest rates that they use when they borrow from and lend to each other.
©morren2025/2026.Year published 2026.
,Mass media - TV, radio, newspapers, magazines and online content that are
made available to a wide audience.
Media bias - Reporting a story from a particular perspective, perhaps to
reflect the media outlet's business priorities, or the views of the individual
journalist.
Middle-market press - Tabloid-format newspapers such as the Daily Mail
and Daily Express that carry stories designed to appeal to a wide audience,
usually shorter and less complex than those in the broadsheets but less
sensational than those in the 'red-top' tabloids.
Objective report - A style of journalism that is free from biases, personal
views or anything else that attempts to sway people's thinking in a certain
manner. It is purely based on facts.
Omission bias - Leaving out facts and opinions that tend to disprove or
challenge any claims made.
©morren2025/2026.Year published 2026.
,Subjective bias - A report based on personal views and experiences, rather
than objective facts.
Tabloid press - 'Red-top' tabloids, eg The Sun and Daily Mirror, which carry
short, often sensationalist, stories with little coverage of financial issues.
Teaser rate - A very low starter interest rate that makes initial payments
affordable, but which, after a short initial period, increases to a higher rate.
Think tank - An organisation, usually not operating for a profit, which carries
out research into topics of political, economic and social policy.
Bank rate - The interest rate that the Bank of England uses when it lends
money to other banks. Financial services providers take account of the
Bank rate when they decide how to set interest rates on their own products.
©morren2025/2026.Year published 2026.
, Banking Act 2009 - This Act provides a set of tools to allow the regulatory
authorities to resolve (ie wind up) a bank or building society that is in
financial difficulty in an orderly way, and so to reduce the impact of a bank
failure on financial stability and bank customers.
Challenger banks - Any new bank that challenges the 'big five'. For example,
Virgin Money, Metro Bank, TSB, Williams and Glyn, the Post Office and
Tesco Bank.
Consumer protection - Designing products and services with customers'
needs in mind, rather than making maximum profits the absolute priority. It
also involves ensuring that customers are not sold products that are
unsuitable for them, and that they are treated fairly.
Corporate social responsibility (CSR) - Any action or project in which a
company goes beyond the interests of its shareholders and senior
management in order to benefit other stakeholder groups, normally with
either a social or an environmental purpose. Also known as citizenship or
sustainable responsible business.
©morren2025/2026.Year published 2026.
QUESTIONS AND ANSWERS |GRADED A+
Broadsheets - Newspapers that provide in-depth coverage, with a serious
tone to their articles and editorials, eg The Times and The Guardian.
Expert bias - Using an expert from just one side of a debate, meaning that
other perspectives are not put forward.
Financial press - Newspapers and magazines aimed at the financially
literate and industry practitioners, eg Financial Times.
Libor scandal - The discovery that some banks had manipulated the
interest rates that they use when they borrow from and lend to each other.
©morren2025/2026.Year published 2026.
,Mass media - TV, radio, newspapers, magazines and online content that are
made available to a wide audience.
Media bias - Reporting a story from a particular perspective, perhaps to
reflect the media outlet's business priorities, or the views of the individual
journalist.
Middle-market press - Tabloid-format newspapers such as the Daily Mail
and Daily Express that carry stories designed to appeal to a wide audience,
usually shorter and less complex than those in the broadsheets but less
sensational than those in the 'red-top' tabloids.
Objective report - A style of journalism that is free from biases, personal
views or anything else that attempts to sway people's thinking in a certain
manner. It is purely based on facts.
Omission bias - Leaving out facts and opinions that tend to disprove or
challenge any claims made.
©morren2025/2026.Year published 2026.
,Subjective bias - A report based on personal views and experiences, rather
than objective facts.
Tabloid press - 'Red-top' tabloids, eg The Sun and Daily Mirror, which carry
short, often sensationalist, stories with little coverage of financial issues.
Teaser rate - A very low starter interest rate that makes initial payments
affordable, but which, after a short initial period, increases to a higher rate.
Think tank - An organisation, usually not operating for a profit, which carries
out research into topics of political, economic and social policy.
Bank rate - The interest rate that the Bank of England uses when it lends
money to other banks. Financial services providers take account of the
Bank rate when they decide how to set interest rates on their own products.
©morren2025/2026.Year published 2026.
, Banking Act 2009 - This Act provides a set of tools to allow the regulatory
authorities to resolve (ie wind up) a bank or building society that is in
financial difficulty in an orderly way, and so to reduce the impact of a bank
failure on financial stability and bank customers.
Challenger banks - Any new bank that challenges the 'big five'. For example,
Virgin Money, Metro Bank, TSB, Williams and Glyn, the Post Office and
Tesco Bank.
Consumer protection - Designing products and services with customers'
needs in mind, rather than making maximum profits the absolute priority. It
also involves ensuring that customers are not sold products that are
unsuitable for them, and that they are treated fairly.
Corporate social responsibility (CSR) - Any action or project in which a
company goes beyond the interests of its shareholders and senior
management in order to benefit other stakeholder groups, normally with
either a social or an environmental purpose. Also known as citizenship or
sustainable responsible business.
©morren2025/2026.Year published 2026.
