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- 20 Marks
MFS – APR 2024 – L2 – Q7 – Objectives of Macro-Economic Policy and Their Conflicts
Outline the objectives of macro-economic policy, identify their practical incompatibilities or major conflicts, and recommend a useful procedure for satisfactory attainment.
Question
Assume you have been delegated by the Chief Executive Officer of a Financial Institution to represent her at a seminar where she is to deliver a speech on the topic: “Though the objectives of Macro-Economic Policy are logically consistent, they are unattainable simultaneously”. Outline such objectives and identify their practical incompatibility or major conflicts. Recommend a useful procedure towards a satisfactory attainment of the goals of Macro-Economic Policy.
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- Tags: attainment, Conflicts, logical consistency, macro-economic policy, Objectives, procedure, unattainability
- Level: Level 2
- Topic: Aims of economic policy, Economic policy
- Series: APR 2024
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- 20 Marks
MFS – APR 2024 – L2 – Q5 – Panic Withdrawals and Deposit Mobilization in Ghana Banking Sector
Identify measures to address panic withdrawals and outline previous measures for enhancing deposit mobilization in Ghana's banking sector amid recent challenges.
Question
The challenges that confronted the Banking Sector in recent times have led to what has been termed ‘panic withdrawals’.
a) Identify four (4) measures the banks could use to address the effects of the ‘panic withdrawals.
b) Outline six (6) measures that the banks previously relied on to enhance Deposit Mobilization.
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- 20 Marks
MFS – APR 2024 – L2 – Q4 – Structure of Traditional/Informal Credit Delivery System in Ghana
Discuss the structure of Ghana's traditional/informal credit delivery system as encouraged by the government to supplement formal intermediaries.
Question
As a means of raising additional funds to supplement the efforts of the formal Financial Intermediaries, the Government of Ghana encourages the operation of Non-Institutionalised or Traditional Credit Delivery System. Discuss the structure of the Traditional/Informal Credit Delivery System of Ghana.
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- 20 Marks
MFS – APR 2024 – L2 – Q3 – Financial Intermediation and Profitability Enhancement
Describe financial intermediation as a business activity and consider ways to enhance profitability of a financial intermediary with reference to revenue streams and cost components, while maintaining caution.
Question
(a.) How would you describe Financial Intermediation as a form of business activity? (b.) With reference to its revenue streams and cost components, consider how Profitability of a Financial Intermediary could be enhanced within the ambit of caution.
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- 20 Marks
MFS – APR 2024 – L2 – Q2 – Demand-Pull and Cost-Push Inflation
Identify and explain the ingredients and forms of demand-pull inflation and cost-push inflation.
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- 20 Marks
MFS – APR 2024 – L2 – Q1 – Medium of Exchange and Opportunity Cost of Liquidity
Explain the statement that in a modern economy, a medium of exchange needs only value-in-exchange, not value-in-use, with examples; discuss the opportunity cost of liquidity concept with reference to cash and interest-bearing financial assets.
Question
(A) In a Modern Economy, a Medium of Exchange needs not necessarily possess value in-use: it is sufficient for it to possess only value-in-exchange. Explain this statement with relevant examples. (B) The Opportunity Cost of liquidity is the interest that the holder of a Financial Asset sacrifices. Discuss this concept with reference to Cash and Interest-B Bearing Financial Assets.
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CSMCE – APRIL 2024 – L2 – Q7 – Bank’s Channel of Distribution and Importance of Physical Location
Define a bank's channel of distribution and list and discuss three reasons why physical location is important in banking.
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- Tags: Banking, Channel of Distribution, Customer Access, Definition, importance, Physical Location, Trust Building
- Level: Level 2
- Topic: Channel of Distribution, Definition, Physical Location
- Series: APR 2024
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- 20 Marks
MP – APR 2024 – L2 – Q1 – CEO Leadership Failure and Change Management
Analyze a CEO's failed attempt to change company strategy, identifying leadership style, appropriate alternatives, people management skills, change strategies, board responsibilities, and sources of power.
Question
A new Chief Executive Officer of a ten-year-old company tried to change the strategic direction of the company that hired him. He failed in this endeavour and was fired just after one year on the job. “He thought he could change the company through intellect alone without moving people emotionally,” a Senior Manager at the company said. Another Senior Manager retorted, though he held periodic meetings with other Senior Management Staff on this subject matter, these meetings were times when he exhibited his domineering nature. “He made radical strategic changes without bothering to get support from the people who could help execute these changes”. A storm of e-mails from employees to the Board of Directors complained of his leadership style and the CEO was finally ousted. REQUIRED
a) What do you think was the leadership style of the CEO? What leadership style could have been more appropriate? (6 marks)
b) List and explain five (5) people management skills required of managers at all levels of the Organizational Hierarchy including the CEO. (10 marks)
c) What Change Management Strategies could have been deployed by this CEO to make him succeed in his job? (10 marks)
d) Give four (4) roles and responsibilities of the Board of Directors of any organization. (8 marks)
e) Mention and explain two (2) sources of power the CEO as a leader might have stood on to execute this task. (6 marks)
[Total: 40 marks]
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LRTB – APRIL 2024 – L2 – QB4 – Differentiating Land Interests and Systems as Banking Security
Differentiate pairs of terms related to land and buildings as security for banking advances, including interests, customary tenancies, co-ownership, and mortgages.
Question
Differentiate between the following pairs of terms relating to Land and Buildings as Security for Banker’s Advances:
a. Freehold Interest and a Leasehold Interest in Land (5 Marks)
b. Abusa and Abunu Systems under Customary Tenancy in Land (5 Marks)
c. Joint Tenancy and Tenancy in Common under Co-Ownership of Land (5 Marks)
d. A Second Mortgage and a Sub-Mortgage of Land and Buildings (5 Marks)
[Total $= 20$ Marks]
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LRTB – APRIL 2024 – L2 – QB3 – Countermand of Cheque Payment and Bank’s Liability
Customer stops a cheque but provides wrong cheque number; bank pays a similar cheque and dishonors another due to insufficient funds; discuss bank's position on potential lawsuit.
Question
Hakuna Matata is a customer of your Branch and trades under the name Hakuna Matata Enterprise, a Sole Proprietorship. He telephoned you the Manager on February $2^{\text {nd }} 2024$ to inform you that he has drawn cheque number 000031 for GHS 50,000 payable to Halcyon Days Company Limited. The cheque was said to be dated $5^{\text {th }}$ February 2024. He asked you not to pay the cheque upon presentation. The telephone conversation was subsequently confirmed by a written instruction. You programmed your system accordingly to ensure that the cheque was not paid. On $6^{\text {th }}$ February 2024, cheque number 000013 drawn by Hakuna Matata was presented through clearing. The cheque bore all the information identical to those on the stopped cheque except for the cheque number which was 000013 and not 000031 given in the countermand. Since there were enough covering funds, the cheque was paid, reducing the balance on the account to GHS 51,000. Later the same day, cheque number 000014 drawn for GHS 100,000 by Hakuna Matata on the business account and payable to Modern Day Fashions was returned unpaid for insufficient funds. Hakuna Matata is threatening to sue you for paying cheque number 000013 which he had stopped and as a result wrongfully returning cheque number 000014 , which should have been paid. He asks that you write to Modern Day Fashions to explain the bank’s error so that his credit can be restored.
What is the Bank’s position on this?
(20 Marks)
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LRTB – APRIL 2024 – L2 – QB2 – Partnership Rules and Company Resolutions
Explain rules applying to partners absent a contrary agreement under Act 152, and differentiate general and special resolutions in company shareholder meetings
Question
a. Section 35(2) of the Incorporated Private Partnership Act, 1962 (Act 152) provides the rules that will apply to Partners in a Partnership in the absence of a Contrary Agreement. (15 Marks)
b. Differentiate between a General Resolution and a Special Resolution in relation to meetings of shareholders of Limited Liability Companies. (5 Marks)
[Total = 20 Marks]
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- 20 Marks
LRTB – APRIL 2024 – L2 – QB1 – Negligent Advice by Branch Manager Leading to Customer Loss
A customer sues the bank for losses from purchasing a property based on the branch manager's negligent advice, which was given to help regularize another customer's overdraft; discuss the legal issues and bank's liability.
Question
Your customer, Kwame Kumchacha, is an importer of second-hand shoes from China. He is illiterate but has made a fortune out of the business which he has operated for several years. Kwame Kumchacha operates a Sole Proprietorship Account styled Kumchacha Enterprise. The account of the Sole Proprietorship is at the Spintex Road Branch of your Bank. Today, you received a letter from Ebito Chambers, a law firm, claiming they had been instructed by Kwame Kumchacha to sue your Bank for losses of GHS 2.5 million incurred by him following the negligent advice given to him by the Manager of your Spintex Road Branch, Serwaa Broni. The law firm explained that the Branch Manager advised Kwame Kumchacha to buy a house at Dzorwulu which was put up for sale by Kofi Brokeman, who also banked with the same Spintex Road Branch of your Bank. Kofi Brokeman had overdrawn his account by GHS 800,0000 and the Head Office has been putting pressure on Serwaa Broni to ensure the position was regularised. In giving the advice, Serwaa Broni, the Branch Manager, assured Mr. Kumchacha that the price of the house was good and that if the customer bought it, she would get the Bank to lease it for the use by the Dzorwulu Branch Manager. Based on this assurance by the Branch Manager, Kwame Kumchacha invested GHS 2.0 million of his working capital in the purchase of the house. The payment was made directly into the bank account of Kofi Brokeman at the Spintex Road Branch. When Mr Kumchacha approached the Bank with an offer for a leasehold interest by the Bank in the property, the Bank said it did not need the property. The property has now become unsaleable due to the general economic hardships in the country, and Mr Kumchacha now has his working capital tied up. The letter from the law firm concluded that if the Bank did not respond in 10 days, they had their client’s instruction to sue the Bank for the negligent advice of Serwaa Broni. What are the legal issues for the Bank in this case? Is the Bank liable for Mr. Kumchacha’s losses? (20 Marks)
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CSMCE – APR 2024 – L2 – Q7 – Bank’s Channel of Distribution and Physical Location
Definition of a bank's channel of distribution and reasons for the importance of physical location in banking.
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- 20 Marks
CSMCE – APR 2024 – L2 – Q6 – Relationship Marketing
Definition and importance of relationship marketing in financial services, with four reasons.
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CSMCE – APR 2024 – L2 – Q5 – Cross Selling and Branding
Short notes on cross selling and branding in the context of banking marketing.
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- Tags: Branding, Cross Selling, Customer relationship, Financial Services, Marketing Mix
- Level: Level 2
- Topic: Campaign selling
- Series: APR 2024
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- 20 Marks
CSMCE – APRIL 2024 – L2 – Q4 – Survey Method in Primary Data Gathering
Define the Survey Method, its advantages/disadvantages, and discuss two types of interviews under it.
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- Tags: Data collection, Interviews, Market Research, Primary Data, Survey Methods
- Level: Level 2
- Topic: How to organize market research
- Series: APR 2024
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- 20 Marks
CSMCE – APRIL 2024 – L2 – Q3 – FIND Interview System
Explain the FIND Interview System, including what the acronym stands for and its main objective.
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- Tags: Customer Needs Identification, Interview Systems, Sales Techniques
- Level: Level 2
- Topic: The sales interview
- Series: APR 2024
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