BAN1502 ASSESSMENT 1

The effective identification of clients is referred to as …




1.
complaints handling.




2.
Know Your Client (KYC) principles.




3.
Ombudsman verification.




4.
FICA (Financial Intelligence Compliance Approach).



Question 2
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Which of the following are seen as disadvantages of inflation?


a Inflation discourages savings.


b Inflation results in resources not being used productively.

, c Inflation discriminates against fixed-salaried workers.


d Inflation results in an unequal distribution of income and wealth.


Choose the correct combination:




1.
b,d


2.
a,b,c


3.
a,c,d


4.
All of the options are correct.
Question 3
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Which one of the following options represents an objective of the monetary policy?


a price stability


b to protect the value of the currency


c financial stability