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CISI-Managing Operational Risk in Financial Institutions
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Question 1 of 10
1. Question
Perpetual share capital implies a capital object that follows the following conditions:
Correct
The consumer has no duty under any circumstances to pay a discount, and the company has the right to select the value of any discount it charges.
Incorrect
The consumer has no duty under any circumstances to pay a discount, and the company has the right to select the value of any discount it charges.
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Question 2 of 10
2. Question
Choose the requirements that must be served by the permanent share capital of a BIPRU company or that must be satisfied by the resources of a BIPRU firm qualifying partnership shares or qualified LLP leaders.
Correct
According to section 123(2) of the Insolvency Act 1986 (actual, contingent or prospective) the duties of the company under the arrangement do not imply liability.
Incorrect
According to section 123(2) of the Insolvency Act 1986 (actual, contingent or prospective) the duties of the company under the arrangement do not imply liability.
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Question 3 of 10
3. Question
Every business must decide for itself when dividends are probable in its particular circumstances. A dividend can be predicted no later than:
Correct
In the case of an interim dividend, the Directors shall allow the dividend to be announced at the Annual General Meeting and, in the case of an intermediate dividend, to be reported by the Manager when the Manager declares that or in the case of a final payout.
Incorrect
In the case of an interim dividend, the Directors shall allow the dividend to be announced at the Annual General Meeting and, in the case of an intermediate dividend, to be reported by the Manager when the Manager declares that or in the case of a final payout.
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Question 4 of 10
4. Question
Choose the right comment on qualifying relationship investments requires a record of the partners:
Correct
Registered Relationship Capital means a partner’s account to which the spouses attach money is paid unlike the fact that Eligible Partnership Capital implies an account of partners from which, under the terms of the Partnership Agreement, a amount representing capital the be withdrawn by the partner only if the BIPRU company has agreed to authorize it.
Incorrect
Registered Relationship Capital means a partner’s account to which the spouses attach money is paid unlike the fact that Eligible Partnership Capital implies an account of partners from which, under the terms of the Partnership Agreement, a amount representing capital the be withdrawn by the partner only if the BIPRU company has agreed to authorize it.
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Question 5 of 10
5. Question
A financial instrument shall not form part of a firm’s tier two capital wealth unless it fulfills the following conditions:
Correct
The only instances of default are the non-payment of any sum due under the capital contract or liquidation clauses of the company.
Incorrect
The only instances of default are the non-payment of any sum due under the capital contract or liquidation clauses of the company.
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Question 6 of 10
6. Question
The Debt and Liability Protection Panel reports on the balance sheet as a whole. From our understanding the core purpose is:
Correct
Key aim is to ensure that risks to ALM (asset and liability management) remain within the risk tolerance of the governing body.
Incorrect
Key aim is to ensure that risks to ALM (asset and liability management) remain within the risk tolerance of the governing body.
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Question 7 of 10
7. Question
Pick out the incorrect statement regarding the makeup of the senior ALM committee and its jurisdiction.
Correct
The layout of good professional ALM committees includes all the company line members, along with the Chief Financial Officer, Group Accountant, Chief Strategy Officer, Market Risk Officer and ALM President, as well as the Head of Internal Audit and the Chief Economist.
Incorrect
The layout of good professional ALM committees includes all the company line members, along with the Chief Financial Officer, Group Accountant, Chief Strategy Officer, Market Risk Officer and ALM President, as well as the Head of Internal Audit and the Chief Economist.
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Question 8 of 10
8. Question
What assertion explains the forward-looking essence of the Senior ALM Group, and its decisions?
Correct
Good senior ALM committees (appear to) focus more on the affects of the future plans, strategy at the entity and, where appropriate, group level on assets and liabilities.
Incorrect
Good senior ALM committees (appear to) focus more on the affects of the future plans, strategy at the entity and, where appropriate, group level on assets and liabilities.
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Question 9 of 10
9. Question
Normally, senior ALM commissions cover at least some of the below subjects. Pick the right ones.
Correct
Senior ALM commissions include liquidity and risk finance, movement of funds pricing system and funding arrangements on stability and interest rate losses in the bank ledger.
Incorrect
Senior ALM commissions include liquidity and risk finance, movement of funds pricing system and funding arrangements on stability and interest rate losses in the bank ledger.
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Question 10 of 10
10. Question
Which of the following activity is not expected from a good and efficient senior ALM committees?
Correct
Strong senior ALM committee papers present a contractual mis-match ladder as well as one focused on behavioral assumptions, along with a summary of the behavioral assumptions made and main sensitivities.
Incorrect
Strong senior ALM committee papers present a contractual mis-match ladder as well as one focused on behavioral assumptions, along with a summary of the behavioral assumptions made and main sensitivities.