DIPFS UNIT 4 SPEC A 11-20

What is meant by a ‘consumer culture’? A culture of:

• caution

• earning

• information

• spending

Which of the following is aimed at banking industry practitioners?

• The Daily Mail.

• The Financial Times

• The Guardian

• The Telegraph.

What was the name of the interest rate fixing scandal that was widely reported in the mass media?

• The Cyber scandal.

• The Libor scandal.

• The PPI scandal.

• The Teaser scandal.

Which of the following is an advantage of following a social media platform?

• It is easy to verify the expertise of an individual.

• It takes into account a balanced view.

• People can enter into a discussion about a subject.

• The target markets are clearly defined.

Which term is used when a media report is fair?

• Balanced

• Biased.

• Misreported.

• Subjective

Which of the following arbitrates on disputes where consumers and financial services providers are unable to come to an agreement?

• HM Treasury.

• The British Bankers’ Association

• The Financial Ombudsman Service.

• The Financial Services Compensation Scheme.

Chronic unemployment refers to those people in an economy who have been unemployed for more than:

• 1 month.

• 3 months.

• 6 months.

• 12 months.

As a result of government initiatives in support of social inclusion, which of the following are banks now obliged to offer?

• Basic bank account.

• Overdraft facility.

• Packaged account.

• Travellers’ cheques.

The encouragement given to people to participate financially in a computer-based society is known as:

• cultural inclusion.

• digital inclusion.

• technological inclusion.

• 24-hour inclusion.

What was achieved by the Financial Services (Banking Reform) Act 2013?

• The abolition of the Financial Services Authority.

• The creation of the Prudential Regulation Authority.

• The requirement of a bank to have a recovery and resolution plan.

• The ring-fencing of retail banking activities.