CQIB EXAM NEWEST 2026 ACTUAL EXAM TEST BANK|
CERTIFICATE OF QUALIFIED INSURANCE BROKER
(CQIB) EXAM PREP WITH 550 REAL EXAM QUESTIONS
AND CORRECT VERIFIED ANSWERS/ ALREADY
GRADED A+ (MOST RECENT!!)
1. Which regulator makes and enforces rules which govern the
capital adequacy of Australian Banks?
A) Australian Securities and Investments Commission (ASIC)
B) Reserve Bank of Australia (RBA)
C) Australian Prudential Regulation Authority (APRA)
D) Australian Competition and Consumer Commission (ACCC)
Correct Answer: C
Rationale: APRA (Australian Prudential Regulation Authority) is
responsible for the prudential supervision of banks, building
societies, life & general insurance companies, and superannuation
funds. This includes making and enforcing rules governing capital
adequacy to ensure they meet financial promises to depositors,
policyholders, and fund members .
1
,2. What event occurred in the Australian Banking Industry in
1893?
A) Establishment of the Reserve Bank of Australia
B) The Australian banking crisis, leading to the failure of 11
commercial banks
C) Introduction of the Four Pillars Policy
D) The Better Banking Program launch
Correct Answer: B
Rationale: A speculative boom in the Australian property market
in the 1800s led to the Australian banking crisis of 1893. This
occurred in an environment with little government control or
regulation of banks and led to the failure of 11 commercial
banks .
3. Which bank was the first bank established in Australia?
A) Commonwealth Bank of Australia
B) Westpac Banking Corporation
C) Bank of New South Wales
D) Australia and New Zealand Banking Group (ANZ)
Correct Answer: C
2
,Rationale: The first bank in Australia was the Bank of New South
Wales, established in 1817 in Sydney. Discovery of gold in
1851 later spurred the development of banking .
4. What was the Australian Notes Act of 1910 responsible
for?
A) Establishing the Reserve Bank of Australia
B) Assigning responsibility for the issue of bank notes to the
Commonwealth Treasury
C) Introducing the four pillars policy
D) Establishing the Commonwealth Bank
Correct Answer: B
Rationale: The Australian Notes Act of 1910 assigned
responsibility for the issue of bank notes to the Commonwealth
Treasury. The Australian Pound was issued as the legal tender in
Australia .
5. In what year was the Reserve Bank of Australia created?
A) 1911
B) 1931
3
, C) 1960
D) 1981
Correct Answer: C
Rationale: The Reserve Bank of Australia (RBA) was created on
January 14, 1960. It performed central bank functions previously
carried out by the Commonwealth Bank .
6. What was the primary impact of the Great Depression
(1930s) on Australian banking?
A) Establishment of the Commonwealth Bank
B) Banking industry became tightly regulated
C) Introduction of the four pillars policy
D) Creation of the Better Banking Program
Correct Answer: B
Rationale: The Great Depression of the 1930s brought a string
of bank failures. By the end of the Depression era, banking in
Australia had become tightly regulated. Banks were classified as
either savings or trading banks .
4
CERTIFICATE OF QUALIFIED INSURANCE BROKER
(CQIB) EXAM PREP WITH 550 REAL EXAM QUESTIONS
AND CORRECT VERIFIED ANSWERS/ ALREADY
GRADED A+ (MOST RECENT!!)
1. Which regulator makes and enforces rules which govern the
capital adequacy of Australian Banks?
A) Australian Securities and Investments Commission (ASIC)
B) Reserve Bank of Australia (RBA)
C) Australian Prudential Regulation Authority (APRA)
D) Australian Competition and Consumer Commission (ACCC)
Correct Answer: C
Rationale: APRA (Australian Prudential Regulation Authority) is
responsible for the prudential supervision of banks, building
societies, life & general insurance companies, and superannuation
funds. This includes making and enforcing rules governing capital
adequacy to ensure they meet financial promises to depositors,
policyholders, and fund members .
1
,2. What event occurred in the Australian Banking Industry in
1893?
A) Establishment of the Reserve Bank of Australia
B) The Australian banking crisis, leading to the failure of 11
commercial banks
C) Introduction of the Four Pillars Policy
D) The Better Banking Program launch
Correct Answer: B
Rationale: A speculative boom in the Australian property market
in the 1800s led to the Australian banking crisis of 1893. This
occurred in an environment with little government control or
regulation of banks and led to the failure of 11 commercial
banks .
3. Which bank was the first bank established in Australia?
A) Commonwealth Bank of Australia
B) Westpac Banking Corporation
C) Bank of New South Wales
D) Australia and New Zealand Banking Group (ANZ)
Correct Answer: C
2
,Rationale: The first bank in Australia was the Bank of New South
Wales, established in 1817 in Sydney. Discovery of gold in
1851 later spurred the development of banking .
4. What was the Australian Notes Act of 1910 responsible
for?
A) Establishing the Reserve Bank of Australia
B) Assigning responsibility for the issue of bank notes to the
Commonwealth Treasury
C) Introducing the four pillars policy
D) Establishing the Commonwealth Bank
Correct Answer: B
Rationale: The Australian Notes Act of 1910 assigned
responsibility for the issue of bank notes to the Commonwealth
Treasury. The Australian Pound was issued as the legal tender in
Australia .
5. In what year was the Reserve Bank of Australia created?
A) 1911
B) 1931
3
, C) 1960
D) 1981
Correct Answer: C
Rationale: The Reserve Bank of Australia (RBA) was created on
January 14, 1960. It performed central bank functions previously
carried out by the Commonwealth Bank .
6. What was the primary impact of the Great Depression
(1930s) on Australian banking?
A) Establishment of the Commonwealth Bank
B) Banking industry became tightly regulated
C) Introduction of the four pillars policy
D) Creation of the Better Banking Program
Correct Answer: B
Rationale: The Great Depression of the 1930s brought a string
of bank failures. By the end of the Depression era, banking in
Australia had become tightly regulated. Banks were classified as
either savings or trading banks .
4
