What is corporate banking?

Banking for large international companies

A combination of the words financial and technology

Environmental and Social Governance

What does the Financial Conduct Authority do?

makes sure that banks are doing their job properly

What is public spending?

Money the government spends on services like education and healthcare

What is a sub-prime mortgage?

Loaning money to someone who would normally be seen as a bad risk

What was the problem with teaser or starter rate mortgages?

After the initial low interest period, people couldn't afford the new rates

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TAF Unit 3 revision

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20 questions to help you revise for the Unit 3 TAF exam (short answer section)

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Questions 20

Answers

1
If inflation spirals out of control, it is called...
Depression
Hyperinflation
Recession
Boom period
2
The FSCS can give customers up to £85,000 compensation to customers who have lost money when banks go out of business
False
True
3
What is corporate banking?
Banking for anyone who needs it
Banking for small and medium-sized enterprises
Banking for large international companies
Banking for individual customers
4
Which of the following are internal stakeholders in a bank?
Suppliers
Government
Employees
Other businesses
5
Which of the following was the main reason for the financial crash of 2008?
An increase in the cost of oil and gas
The war in Afghanistan
Irresponsible lending
The stock exchange going bust
6
What is fintech?
A combination of the words financial and technical
A way to complain about a bank
A type of insurance policy for gadgets
A combination of the words financial and technology
7
Northern Rock went bankrupt because of irresponsible lending
False
True
8
What is the term for crime committed online?
Internet-based crime
Computer crime
Online crime
Cybercrime
9
What does FOS stand for?
Funding Ombudsman Service
Financial Organisation Service
Financial Ombudsman Service
Funding Organisation Service
10
ESG stands for...
Environmental and Social Government
Environmental and Social Governance
Ecological and Societal Governance
Environmental and Sociable Government
11
What does the Financial Conduct Authority do?
makes sure that banks are doing their job properly
inspects banks to check up on them
supports small businesses with advice
gives compensation to people who have been let down by banks
12
Increasing interest rates normally lowers inflation
True
False
13
What is the government's inflation target?
2%
1%
3%
4%
14
Global events such as wars or disasters can impact on the economy of any country
True
False
15
What is public spending?
Money the government spends on services like education and healthcare
Money earned by businesses from customers
All the money spent in a local area
Money the public spends on basics like food and petrol
16
Restricted Financial Advisers can recommend products from any company
False
True
17
The government is an external stakeholder in a bank
True
False
18
What is a sub-prime mortgage?
Low interest mortgages
Money loaned to someone to buy excess quantities of Prime
Loaning money to someone who would normally be seen as a bad risk
Money lent to someone to buy an expensive house
19
What was the problem with teaser or starter rate mortgages?
No-one was interested in them
The interest rate in the first five years was too high
After the initial low interest period, people couldn't afford the new rates
The interest rate after the first five years was too low
20
Which of the following is a scheme designed to fast-track people with a degree into professional careers?
Work experience
Internship
Apprenticeship
Graduate Training Scheme

TAF Unit 3 revision Flashcards | StudBud