CQIB Mock Exam Questions
Study online at https://quizlet.com/_blngu0
1. Which of the following is accurate regarding fiscal policy?: Government
spending and taxation that influences the economy.
2. Who runs Superannuation funds?: Trustees
3. Which form of debt is a popular funding option due to taxation benefits that
may be available for borrowers?: Equipment leasing
4. 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
5. Which one of the following is accurate in relation to Australian banking
history?: Prior to 1910, banks could issue their own private bank notes.
6. How often is the Consumer Price Index calculated?: Quarterly
7. Which of the following is true regarding banks?: They are highly leveraged
8. How would you describe government securities and semi-government se-
curities?: High Quality Liquid Assets
9. 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.
10. 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
11. 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
12. Which of the following is true in relation to the FINSIA Code of Conduct?-
: Respect' is one of the FINSIA's values
13. Which of the following is correct regarding a corporate code of conduct?: It
often contains a commitment associated with citizenship.
14. In respect to deontology which statement is correct?: People must do the
right thing, even if it does not result in a good outcome.
15. 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
16. 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
17. When faced with moral dilemma, you should choose the action that max-
imises good outcomes?: Consequentialism
1/5
, CQIB Mock Exam Questions
Study online at https://quizlet.com/_blngu0
18. 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
19. 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
20. Which of the following was first introduced within Basel III?: A global
framework for bank liquidity regulation
21. The Reserve Bank Board ensures that monetary and banking policies con-
tribute 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
22. 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.
23. Which of the following is not a common type of insurance excess for motor
vehicle policies?: Maximum claims excess
24. What is the maximum amount of money a company can raise via
crowd-sourced funding each year?: $5 million
25. When the underwriter is making a decision regarding an insurance appli-
cation 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?
26. 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.
27. 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.
28. 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.
29. Which statement is correct regarding security taken for residential lend-
ing?: Additional security can be taken to avoid lenders mortgage insurance.
30. Which of the following would be included within the comparison rate of a
loan: Interest rate being applied and bank loan arrangement fees.
2/5
Study online at https://quizlet.com/_blngu0
1. Which of the following is accurate regarding fiscal policy?: Government
spending and taxation that influences the economy.
2. Who runs Superannuation funds?: Trustees
3. Which form of debt is a popular funding option due to taxation benefits that
may be available for borrowers?: Equipment leasing
4. 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
5. Which one of the following is accurate in relation to Australian banking
history?: Prior to 1910, banks could issue their own private bank notes.
6. How often is the Consumer Price Index calculated?: Quarterly
7. Which of the following is true regarding banks?: They are highly leveraged
8. How would you describe government securities and semi-government se-
curities?: High Quality Liquid Assets
9. 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.
10. 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
11. 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
12. Which of the following is true in relation to the FINSIA Code of Conduct?-
: Respect' is one of the FINSIA's values
13. Which of the following is correct regarding a corporate code of conduct?: It
often contains a commitment associated with citizenship.
14. In respect to deontology which statement is correct?: People must do the
right thing, even if it does not result in a good outcome.
15. 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
16. 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
17. When faced with moral dilemma, you should choose the action that max-
imises good outcomes?: Consequentialism
1/5
, CQIB Mock Exam Questions
Study online at https://quizlet.com/_blngu0
18. 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
19. 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
20. Which of the following was first introduced within Basel III?: A global
framework for bank liquidity regulation
21. The Reserve Bank Board ensures that monetary and banking policies con-
tribute 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
22. 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.
23. Which of the following is not a common type of insurance excess for motor
vehicle policies?: Maximum claims excess
24. What is the maximum amount of money a company can raise via
crowd-sourced funding each year?: $5 million
25. When the underwriter is making a decision regarding an insurance appli-
cation 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?
26. 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.
27. 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.
28. 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.
29. Which statement is correct regarding security taken for residential lend-
ing?: Additional security can be taken to avoid lenders mortgage insurance.
30. Which of the following would be included within the comparison rate of a
loan: Interest rate being applied and bank loan arrangement fees.
2/5
