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Foundation Of Responsible Banking > Cohut > Flashcards

Cohut Flashcards

1
Q

Banks act as a intermediary between which two group

A

Deposits & borrowers

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2
Q

According to the Bank of England, firms cannot call themselves a bank until it is

A

Authorised

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3
Q

Philanthropy services would be best suited to which type of customer - (donate your money to charity) wealthy people

A

Private banking ( high net worth)

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4
Q

Islamic banking

A

The charging or payment of interest

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5
Q

Which of the following is not a category that a challenger bank can be groups into

A

Banks that specifically target large corporation as its customers

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6
Q

Zopa is an example of a fintech that has

A

Been given a license to operate as a bank

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7
Q

I hate is the name of the organisation that was founded in 1887 as a major payment provider

A

Worldpay

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8
Q

There are many duties to hay bankers must adhere to. Which of these is a core duty

A

Confidentially

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9
Q

Which of these in not an element of the transformation function

A

Liquidity

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10
Q

What type of risk would a ‘run in the bank’ create - run out of money

A

Liquidity risk

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11
Q

Credit risk

A

Lending out money and not being paid back

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12
Q

Credit risk

A

Lending out money and not being paid back

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13
Q

Liquidity risk

A

When the bank runs out of money

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14
Q

Operational risk

A

What we do, processe proceeders fraud cyber crime

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15
Q

6 un principle on responsible banking

A

Adopting sustainable goals

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16
Q

What is the name of the ethical bank used as a case study in unit 2

A

Tripods bank

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17
Q

The Paris climate agreement bears establish in what year

A

2015

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18
Q

What year officially launches the UN principles of responsible banking

A

2019

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19
Q

UNEP FI has published a …. Step process to guide signatory banks through implementing their commitments

A

3

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20
Q

Mortgages are covered under the consumer credit act 2006

A

False
- consumer credit act - borrowing up to £30,000
Mortgages - regulated

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21
Q

What is a disadvantage of being a sole trader

A

Sole personal liability

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22
Q

What are the type of Islamic mortgages known as

A

Ijara, Mishawaka and murabaha

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23
Q

According to the CBi portal which countries are leading the way with regards to cashless payments

A

Norway, Sweden, Finland, honk kong and uk

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24
Q

We chat pay & Ali pay are two of the most common payments platforms in china

A

True

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25
Q

Which method of distribution channel is based on a sister of engagement with the customer

A

Omnichanel - interacting the customer ( they switching ) customer engaging

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26
Q

What is the first stage in the customers journey in banking

A

Awareness

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27
Q

In unit 4 the UK and which other country regarding the use of digital technologies

A

South Korea

28
Q

According to the baking industry customer satisfaction series 2022, what percentage of customers wanted to use bank branches

A

15%

29
Q

Unit 4 which country saw the biggest increase in cyber crime

A

Neverlands

30
Q

Phishing is the most common form of crime committed

A

Online

31
Q

Experian ( the Uk leading credit reference agency) had a website to keep track of all the latest type of scams

A

True

32
Q

The Bank of England controls ……. Through the monetary policy

A

Inflation

33
Q

Which regulators is responsible for macro prudential regulation
Macro means big

A

The bank of englands Financial policy committee (FPC)

34
Q

How many primary objectives does the PRA have

A

Two
1)Protect the safety and soundness of system
2) Provide protection for the insurance policy holder

35
Q

What is the name of the financial Ombudsman service in South Africa

A

FAIS OMBUDSMAN

36
Q

FSCS

A

protection for consumer deposits up to 85k

37
Q

In the Uk we have the financial services compensation scheme( FSCS) deposits. What is the equivalent scheme in the European Commission

A

Deposit Garantueee scheme

38
Q

The competition and market authority (CMA) shares objectives with which UK regulator

A

FINANCIAL CONDUCT AUTHORIES

39
Q

What type of ethics consider dirty to be an important component when making decisions

A

Deontology - duty

40
Q

Which regulator sets out the 6 consumer outcomes as part of its fair treatment of customer initiatives

A

FCA

41
Q

The consumer Dudu had three main component parts

A

True

42
Q

The standard of lending practice are

A

Volutareay

43
Q

Members of the professional body are required to commit to its professional code. Potential non adherence outcome are

A

Could face disciplinary actions and prevented firm working in the sector again

44
Q

What are the 3Vs of big data that help describe what it is

A

Volume, variety and velocity

45
Q

Digital and data innovations

A

RPA - use of software robots to perform task

IOT - Internet of things different devices are connected together to produce data

Block chain - digital record of transactions where blocks ( individual records) are linked together in a chain and can be used to allow individuals to pay each other without and central clearing point ( banks ) people can pay without going through a bank

Quantum computing - can manipulate
combinations of data at the same time

Augmented and virtual reality - augmented reality adds to reality , where as virtual reality replaces things

46
Q

Size, Maturity transformation and risk transformation

A

Size - depositors funds may be smaller amounts that a loan size, banks are able to aggregate all saving and use them to support larger loans ( economies of scale)

Maturity - short term deposits are unused to financial longer term loans

Risk transformation - once money is lent to a borrower banks then face credit risk. ( the borrower will not pay the borrowed amount)

47
Q

Ring fence from deposit are protected 2019

A

PRA monitors this policy

Investment and international banks
FSCS scheme will compensate in 7 days

48
Q

Senior manager and certification regime ( the financial conduct authorities) look after this

A

Senior decision making - approved and references
Conduct rules -

Key risk- certification regime

Ansilary staff don’t need to -

49
Q

Macro prudential FPC
Micro prudential - PRA LIQUIDTY AND CAPITAL

A

Fractional reserve banking - liquidity risk run out of cash. Banks needs to reserve a certain amount.

50
Q

FCA - regulates consumer credit ( mortgages not covered by) credit cards loans yes they are converted

A
51
Q

Bank insolvency and resolution laws

A

The legal step in to take over the running of the bank- so everything is in place could have a big negative impact on counties

52
Q

Deposit and insurance schemes

A

FSCS - financial services compensation schemes
Ring fence

53
Q

Cooperation and resolutions processes

A

FOS

54
Q

12 FCA PRINCIPLES

A

Integrity
Skill, care and diligence
Management and control
Fianancial prudence
Market conduct
Customer interest
Communication with clients
Conflict of interest
Customers relationship with trust
Clients assets
Relationship with the regulators
Consumer duty

55
Q

Unit 6

A
56
Q

Standards of lending practice

A

To promote fair lending
Voluntary standard which set minimum standard of good lending practice when dealing with
Personal
Business annual turnover of up to 25mil
The lending code covers
Credit cards
Charge cards
Current account overdrafts
Commercial mortgages

57
Q

Big data omni channel distribution

A

Different channels - what products

Opti channel - personalised marketing communication

Risk for opti channel Operational risk data breach

Gdpr - privacy risk

58
Q

Unit 4

A
59
Q

Unit 4

A
60
Q

Customer journey in banking

A

Awareness
Open account
Use account
Get issue
Add account
Continue as customer or stop service

61
Q

Opportunity for banks

A

New technology
Popular gen z become generation x -and bloomers
Technology reduces operational cost

62
Q

Opportunity for banks

A

New technology
Popular gen z become generation x -and bloomers
Technology reduces operational cost

63
Q

Operational risk - cyber crime and cyber risk

A

Vulnerabilities in Ss7 telecom services use ss7 protocols when routing calls and texts around the world. Criminals can intercept these texts. (Security codes being sent to customer)

Malware - malicious ware software - used to damage or disabled computers or softwares without owners knowledge

Random ware - designed to deny access to files or publish data unless a ransom is paid.
ATM attacks - software that enables attackers to steal cash from atms

Mobil banking attacks - fake banking apps
Distributed denials of service DDoD attackers temporarily or permanently disturb an organisation’s IT network

64
Q

Equity release loan

A

Paid off the mortgage worth a lot of money. Take out a mortgage if you are older
Bank owns half the property
Generate income

65
Q

Equity release loan

A

Paid off the mortgage worth a lot of money. Take out a mortgage if you are older
Bank owns half the property
Generate income

Foundation Of Responsible Banking (8 decks)

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