Industry Overview Flashcards
1
Q
4 essential functions of FS industry
A
- Protect savings
- Match savers with borrowers
- Allow people to insure against risk
- Allow risk to be diversified
2
Q
4 key components of financial sector
A
- Infrastructure
- Markets
- Firms
- Authorities
3
Q
2 types of financial markets
A
- On-exchange
2. Over-the-counter
4
Q
3 core services of banks and building societies
A
- Current accounts
- Deposit accounts
- Mortgages and loans
5
Q
5 indirect banking services
A
- Portfolio management
- Stockbroking
- Wills and executorship
- Collective investment
- Insurance and pensions
6
Q
2 forms of advice
A
- Independent
2. Restricted
7
Q
5 types of financial firm
A
- Banks
- Building societies
- Life assurance companies
- Friendly societies
- Multi-distribution organisations
8
Q
3 European Supervisory Authorities
A
- European Banking Authority
- European Securities and Markets Authority
- European Insurance and Occupational Pensions Authority
9
Q
3 aims of Financial Services Action Plan
A
- Create a single EU wholesale market
- Achieve open and secure retail markets
- Create state-of-the-art prudential rules and structures of supervision
10
Q
3 key legal instruments governing regulation and conduct of financial services industry
A
Financial Services and Markets Act 2000
Financial Services Act 2012
Bank of England and Financial Services Act 2016
11
Q
4 parts of UK regulatory framework
A
- Prudential Regulation Authority
- Prudential Regulation Committee
- Financial Policy Committee
- Financial Conduct Authority
12
Q
2 types of economic policy
A
- Fiscal: taxation, borrowing, government spending
2. Monetary: interest rates, money supply
