Exam (elaborations)
CQIB EXAM QUESTIONS AND ANSWERS
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CQIB EXAM QUESTIONS AND ANSWERS
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CQIB EXAM QUESTIONS AND ANSWERSThree regulators of financial services industry: - Answers- FMA, RBNZ, Commerce
Commission
CoFR - Answers- FMA< RBNZ, Commerce Commission, Treasury, MBIE
Does the CoFR have regulatory or policy decision making powers? - Answers- No
Is the CoFR statutory or non statutory - Answers- non statutory
Macro prudential risk - Answers- Where the fragility of a bank or financial insto can
affect the market or economy as a whole
Speculative risk - Answers- Where there is a chance of loss or gain, based on a
decision to accept or decline the risk
Speculative risk eg - Answers- Horse racing
Absolute risk - Answers- Where there is a chance of loss or no loss but no gain
Absolute risk e.g. - Answers- Car crash
Risk appetite - Answers- The amount of risk that an organisation is willing to take to
meet their strategic objectives
1st line of risk defence - Answers- Business operations
Business operations as a line of risk defence: - Answers- - day to day risk management
activities
- Follow a risk process
- apply internal controls and risk responses
risk and compliance functions as a line of risk defence - Answers- - Review and
challenge risk management processes
- Provide guidance and direction
- Dev risk management frameworks
2nd line of risk defence - Answers- Risk and compliance functions
3rd line of risk defence - Answers- Internal audit
Internal audit as a line of risk defence - Answers- - Review 1st and 2nd line
- Independent persepective
- Objective assessment and assurance
, ISO 31000 Risk Management Principles and Guidelines - Answers- 1. Context
2. Assessment
3. Identification
4. Analysis
5. Evaluation
6. Treatment
7. Monitoring
8. Communication/ consultation
CAIAETMC
Risk matrix is part of - Answers- risk analysis
Risk Matrix categories - Answers- low moderate high extreme
Reisdual risks - Answers- The risk that remains after all efforts to identify and eliminate
risk have been made
Risk treatment - Answers- Avoid
Accept
Remove
Reduce
Transfer
Change
AARRTC
Risk indicators - Answers- Measurable
Predictable
Comparable
Informational
MPIC
Key information that is in a risk register - Answers- 1. Risk ID
2. Risk name
Name of project/ business
Date last reviewed and by whom
A risk score
Control measures identified for handling risk
Within appetite
Residual risk rating
What is the central question of ethics: - Answers- What should I do?
Care based ethics emphasizes the - Answers- importance of relationships between
individuals
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