Unit 4 Topic 1 KW

Unit 4 Topic 1 KW

12th Grade

13 Qs

quiz-placeholder

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Unit 4 Topic 1 KW

Unit 4 Topic 1 KW

Assessment

Quiz

Other

12th Grade

Practice Problem

Hard

Created by

D Costley

Used 2+ times

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13 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of the Competition and Markets Authority (CMA)?

A mutual organisation that provides a range of financial products to members.

The body responsible for strengthening business competition and preventing and reducing anti-competitive activities.

An independent body that settles customer complaints about providers at no charge to consumers.

The organisation that regulates financial firms providing services to consumers.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a Credit Union provide to its members?

Financial recommendations based on a wide range of products.

A range of financial products such as savings accounts and personal loans.

Compensation to account holders if the provider goes into default.

Funds raised on the financial markets for large corporations and governments.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Financial Conduct Authority (FCA) responsible for?

Monitoring and responding to risk posed to the entire financial services market.

Strengthening business competition and preventing anti-competitive activities.

Regulating financial firms providing services to consumers and maintaining the integrity of the UK's financial markets.

Offering its members a wide range of financial products, including savings and annuities.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary function of a Financial Intermediary?

To sell off parts of a company to make it smaller.

To take in deposits from those with a surplus and lend those funds out to those who need to borrow.

To provide compensation to account holders if the provider goes into default.

To make financial recommendations to clients based on products offered by a wide range of providers.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of the Financial Services Compensation Scheme (FSCS)?

To facilitate the process of lending and borrowing by taking deposits from those with a surplus.

To regulate financial firms providing services to consumers.

To pay compensation to account holders if the provider goes into default (up to a certain amount per provider).

To monitor and respond to risk posed to the entire financial services market.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of organisation is a Friendly Society?

A body responsible for strengthening business competition.

A mutual organisation that offers its members a wide range of financial products.

An organisation that takes in deposits from those with a surplus and lends those funds out.

A government department responsible for economic policy.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of Investment Banks?

To provide a range of financial products to members, such as savings accounts and personal loans.

To regulate financial firms providing services to consumers.

To raise funds on the financial markets and provide special services to large corporations and governments.

To settle customer complaints about providers at no charge to consumers.

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