LIBF Topic 3 Unit 3 Quiz 2

What are some examples of ECONOMIC external factors?

• Inflation, interest rates, house prices

• Internal policies, company culture, management style

• Employee satisfaction, customer feedback, product quality

• Marketing strategies, advertising campaigns, brand image

Why is a well-regulated financial system important?

• It increases the cost of financial products

• It enhances financial stability and reduces future crises

• It limits consumer access to financial services

• It discourages investment in financial markets

What is the impact of political factors on financial services?

• They have no impact on financial services

• They affect regulations and compliance for financial providers

• They only influence marketing strategies

• They determine the interest rates for loans

What is a significant factor in ECONOMIC activity of the four below

• EU Policy

• Political decisions

• House prices

• Social inclusion

What is the impact of social exclusion on society?

• It benefits the economy

• It affects both individuals and society as a whole

• It only affects the government

• It has no impact

What is an impact of CULTURAL issues on economic factors?

• No impact

• Only affects religious backgrounds

• Affects people's ethnic and religious backgrounds

• Only affects economic policies

Match the following

• ECONOMIC

• 
• POLITICAL

• 
• SOCIAL

• 
• ENVIRONMENTAL

• 
• LEGAL

• 

What is a significant feature of technological factors in financial services?

• Increased manual labor.

• Increased automation.

• Decreased communication.

• Decreased innovation.

What is the impact of religion on financial services?

• It discourages lending and borrowing.

• It views lending and borrowing as acceptable.

• It eliminates the need for financial products.

• It increases the demand for luxury goods.

What is the impact of grey culture on financial services?

• It reduces the need for technological innovation.

• It increases the demand for products and services for older adults.

• It stabilizes exchange rates.

• It eliminates the need for marketing.