LIBF Unit 4 Finance Multiple Choice Exam
With Complete Answers
Which of the following are not mutual financial organisations?
A. Banks
B. Building societies
C. Credit unions
D. Friendly societies - ANSWER A. Banks
Which of the following has not become part of the Santander group?
A. Abbey
B. Alliance & Leicester
C. Bradford and Bingley
D. Natiowide - ANSWER D. Nationwide
Which of the following has taken over the goodpart of Northern Rock?
A. Handelsbanken
B. M&S Bank
C. Metro bank
D. Virgin money - ANSWER D. Virgin money
,Which of the following is a peer to peer (P2P) lender?
A. Experian
B. Metro
C. Wonga
D. You2me - ANSWER D. You2me
To stand out from other banks, a bank might offer a current account with additional benefits.
Which of the following would not be one of those additional benefits?
A. A free debit card
B. Mobile phone insurance
C. Money back on household bills
D. Worldwide travel insurance - ANSWER A. A free debit card
Which of the following was a pressure group that aimed to support savers?
A. justice for savers
B. power to savers
C. save and sound
D. save our savers - ANSWER D. save our savers
Which of the following has the primary objective of promoting competition and making sure
markets work well for consumers?
,A. the competition and markets authority
B. the competition authority
C. the fair trading and markets authority
D. the financial markets authority - ANSWER A. the competition and markets authority
Which service was established by the payments council to make it easier for people to move
to a current account from one financial services provider to another?
A. the current account movement service
B. the current account redirection service
C. the current account switch service
D. the current account transfer service - ANSWER C. the current account switch service
What are the three main elements of financial sustainability?
A. demographic, environmental and social
B. economic, environmental and social
C. economic, political and social
D. environmental, social and technological - ANSWER B. economic, environmental and social
Which of the following is responsible for fighting financial crime?
A. FCA
B.. FPC
, C. MAS
D. PRA - ANSWER A. FCA
What is meant by a consumer culture? A culture of:
A. caution
B. earning
C. information
D. spending - ANSWER D. spending
Which of the following is aimed at banking industry practitioners?
A. the daily mail
B. the financial times
C. the guardian
D. the telegraph - ANSWER B. the financial times
What was the name of the interest rate fixing scandal that was widely reported in the mass
media?
A. the cyber scandal
B. the libor scandal
C. the PPI scandal
D. the teaser scandal - ANSWER B. the Libor scandal
With Complete Answers
Which of the following are not mutual financial organisations?
A. Banks
B. Building societies
C. Credit unions
D. Friendly societies - ANSWER A. Banks
Which of the following has not become part of the Santander group?
A. Abbey
B. Alliance & Leicester
C. Bradford and Bingley
D. Natiowide - ANSWER D. Nationwide
Which of the following has taken over the goodpart of Northern Rock?
A. Handelsbanken
B. M&S Bank
C. Metro bank
D. Virgin money - ANSWER D. Virgin money
,Which of the following is a peer to peer (P2P) lender?
A. Experian
B. Metro
C. Wonga
D. You2me - ANSWER D. You2me
To stand out from other banks, a bank might offer a current account with additional benefits.
Which of the following would not be one of those additional benefits?
A. A free debit card
B. Mobile phone insurance
C. Money back on household bills
D. Worldwide travel insurance - ANSWER A. A free debit card
Which of the following was a pressure group that aimed to support savers?
A. justice for savers
B. power to savers
C. save and sound
D. save our savers - ANSWER D. save our savers
Which of the following has the primary objective of promoting competition and making sure
markets work well for consumers?
,A. the competition and markets authority
B. the competition authority
C. the fair trading and markets authority
D. the financial markets authority - ANSWER A. the competition and markets authority
Which service was established by the payments council to make it easier for people to move
to a current account from one financial services provider to another?
A. the current account movement service
B. the current account redirection service
C. the current account switch service
D. the current account transfer service - ANSWER C. the current account switch service
What are the three main elements of financial sustainability?
A. demographic, environmental and social
B. economic, environmental and social
C. economic, political and social
D. environmental, social and technological - ANSWER B. economic, environmental and social
Which of the following is responsible for fighting financial crime?
A. FCA
B.. FPC
, C. MAS
D. PRA - ANSWER A. FCA
What is meant by a consumer culture? A culture of:
A. caution
B. earning
C. information
D. spending - ANSWER D. spending
Which of the following is aimed at banking industry practitioners?
A. the daily mail
B. the financial times
C. the guardian
D. the telegraph - ANSWER B. the financial times
What was the name of the interest rate fixing scandal that was widely reported in the mass
media?
A. the cyber scandal
B. the libor scandal
C. the PPI scandal
D. the teaser scandal - ANSWER B. the Libor scandal
