Chapter 4

Question 1

T & C risk based indicators
B
P
P
C
R
C

Answer 1

Business Quality
Persistency
Percentage to target
Customer satisfaction
Range of advice
Complaints

Question 2

100% checking
Advantages
Disadvantages

Answer 2

Advantages - minimise risk, confidence in results, reduced risk of a fine, consistent

Disadvantages - Stifles personal responsibility, creates dependency, prevents innovation, expensive, one size fits all rather than best level of risk per case

Question 3

Competence
S
K
E

Answer 3

Skills +
Knowledge +
Experience = Competence

Question 4

Balanced Scorecard
F
L
I
C

Answer 4

Financial

Learning

Internal process

Customer

Question 5

Leaders vs Managers

Answer 5

Leaders -
Inspire, influence, vision, values, ask, people focus, vary style, delegate, coach, long term strategy

Managers - organise, control, direct, target and manage, tell, task focus, narrow use of skills, closely manage, instruct, short term - tactical

Question 6

Risk Based Supervision - Advantages and disadvantages
FICS

TOPO

Answer 6

Advantages - Focussed resources, Informs decisions, controls risk, shows what good looks like

Disadvantages - Ties up resources, Over Zealous, Pessimistic data, opportunity cost