CISI – Managing Operational Risk in Financial Institutions
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Question 1 of 10
1. Question
A material insurance holding means:
Correct
A material insurance holding refers to an excluded CAD firm holdings of products of the form stated in any insurance undertaking or insurance holding company.
Incorrect
A material insurance holding refers to an excluded CAD firm holdings of products of the form stated in any insurance undertaking or insurance holding company.
Question 2 of 10
2. Question
Point out the incorrect statements about a BIPRU firm.
Correct
The statements that it does provide supplementary customer account safekeeping and financial instrument management operation and is allowed to provide the following investment services for its own account in any financial instruments are incorrect.
Incorrect
The statements that it does provide supplementary customer account safekeeping and financial instrument management operation and is allowed to provide the following investment services for its own account in any financial instruments are incorrect.
Question 3 of 10
3. Question
A BIPRU firm must measure its requirement for credit risk resources as the amount of the:
Correct
A BIPRU firm must calculate its credit risk capital requirement as the sum of the credit risk capital component and the counterparty risk capital component.
Incorrect
A BIPRU firm must calculate its credit risk capital requirement as the sum of the credit risk capital component and the counterparty risk capital component.
Question 4 of 10
4. Question
The related fixed expense of a BIPRU company shall be the sum defined in its most recent audited annual report and reports as total expenditure, less the following things:
Correct
Interest expense on loans made, except where guaranteed, to fund the company’s purchase of readily realizable assets and incentives for employees.
Incorrect
Interest expense on loans made, except where guaranteed, to fund the company’s purchase of readily realizable assets and incentives for employees.
Question 5 of 10
5. Question
Point out the incorrect statement about fixed expenditure.
Correct
Fixed expenditure is not dynamic in response to changes in the level of business of a company and it considers the amount of funds needed by a corporation to allow it to discontinue business in an orderly manner.
Incorrect
Fixed expenditure is not dynamic in response to changes in the level of business of a company and it considers the amount of funds needed by a corporation to allow it to discontinue business in an orderly manner.
Question 6 of 10
6. Question
Tier one capital typically has certain characteristics. Choose the right ones.
Correct
It lists for recovery after dissolution, administration or related proceedings for all other debts and responsibilities and it does not have fixed costs, that is to say there is no implicit requirement to pay dividends or interest.
Incorrect
It lists for recovery after dissolution, administration or related proceedings for all other debts and responsibilities and it does not have fixed costs, that is to say there is no implicit requirement to pay dividends or interest.
Question 7 of 10
7. Question
From the given statements, select the statement that accurately describes three tier capital.
Correct
Three-tiered capital consists of capital types that relate to short-term, subordinated debt and a fixed term income.
Incorrect
Three-tiered capital consists of capital types that relate to short-term, subordinated debt and a fixed term income.
Question 8 of 10
8. Question
Point out the incorrect statement from the below mentioned statements.
Correct
The need to receive a legal opinion is not subject to an element of tier one capital and is included in the tier two capital resources of a business under.
Incorrect
The need to receive a legal opinion is not subject to an element of tier one capital and is included in the tier two capital resources of a business under.
Question 9 of 10
9. Question
Which of the above restrictions are relevant to BIPRU businesses in relation to Tier One capital?
Correct
No more than 35% of the hybrid resources included in the estimation phases of the capital assets table may be accounted for and The hybrid resources included in stage C of the estimate in the capital assets table may not compensate for more than 15 per cent.
Incorrect
No more than 35% of the hybrid resources included in the estimation phases of the capital assets table may be accounted for and The hybrid resources included in stage C of the estimate in the capital assets table may not compensate for more than 15 per cent.
Question 10 of 10
10. Question
Tier one capital and tier two capital are the only form of capital tools that a BIPRU organization may use for meeting purposes:
Correct
Tier one capital and tier two capital are the only types of capital assets that a BIPRU company can use for purposes such as the credit risk capital component, the counterparty venture capital component and base capital wealth requirement.
Incorrect
Tier one capital and tier two capital are the only types of capital assets that a BIPRU company can use for purposes such as the credit risk capital component, the counterparty venture capital component and base capital wealth requirement.
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