Unit 3 Topic 1-7 DIPFS

Which of these descriptions matches "credit union"

• Where expenditure exceeds income

• A reduction in the availability of loans

• A person that owes money

• A multual organisation that is owned by its members

The FCA has introduced more transparency to packaged bank accounts since 2013

• True

• False

Which of these did the FCA make packaged account providers do for their customers (p208)

• Check the consumer would be eligible to make a claim under each policy

• Enable online banking and telephone banking.

• Check the products are suitable for the person

• Provide an annual statement

Current account switching was made simpler in 2013. How long does the process usually take (p209)

• same day (1 day)

• 7 days

• 10 days

• 14 days

The FCA operates a Senior Managers Regime to ensure that managers of companies are "fit and proper". Which of these are assessed to ensure they are

• Have the appropriate educational background

• Financial soundness

• Honesty, integrity, reputation

• Competence and capability

The banking act of 2009 allows the Bank of England to close down a bank before it becomes insolvent (p205

• True

• False

Which of these factors has seen the greatest increase and thus has the highest impact on home affordability p199

• Changes in the multiplier

• Regional differences in house price

• Multiple of income that first time buyers paid for a home

Which organisation monitors the entire financial sector to identify potential problems p201

• European Banking Authority (EBA)

• European Securities and Markets Authority (ESMA)

• European Insurance and Occupational Pensions Authority (EIOPA)

• European Systemic Risk Board (ESRB)

Under European Directives the UK adopted the principle of equal treatment between men and women in the access to and supply of goods and services (known as the EU Gender Directive)

• True

• False

As part of the Capital Requirements Directive (CRD) finacial bosses are capped at a bonus % which is 75% of salary and has to be paid in dividends p203

• True

• False