Professional Body: CIB (GHANA)

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CIBG – Principles of Management – L1 – Q6 – Short Notes on Management Concepts

Write short notes on strategic planning, job analysis, business process re-engineering, virtual organization, and managerial control in the context of banking management.

Question

Write short notes on the following:

a. Strategic Planning

b. Job Analysis

c. Business Process Re-engineering

d. Virtual Organization

e. Managerial Control

Answer

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Tags: Banking Applications, Business Process Re-engineering, Job Analysis, Managerial Control, short notes, Strategic Planning, Virtual Organization

Topic: STRATEGIC PLANNING, TECHNIQUES AND TOOLS OF MANAGEMENT
Series: JULY 2020

CIBG – Principles of Management – L1 – Q5 – Groups in Learning Organizations

Outline conditions under which a bank requires groups, guidelines for forming effective groups, and factors influencing group effectiveness in a named bank.

Question

Groups are required in every learning organization to enhance their performance and

competitiveness.

a. State five (5) conditions that a bank needs a group?

b. List five (5) guidelines that can be followed to enhance the formation of effective groups?

c. Explain five (5) factors that influence group effectiveness in a named bank?

Answer

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Tags: Bank Groups, Competitiveness, Effective Groups, Group Effectiveness, Groups, Learning Organizations, Performance, Team Formation
Level: Level 1

Topic: GENERAL MANAGEMENT PRACTICES, Team Building
Series: JULY 2020

CIBGH – POM 2020 – L1 – Q4 – Transformational Leadership in Banking

Define transformational leadership, list five personal qualities of a transformational leader, and describe five strategies a transformational leader can implement to reposition a distressed bank strategically in Ghana.

Question

Leadership is an influence relationship between the leader and the subordinate (s) to jointly create the desired change in an organization.

a. Define “transformational leadership”?

b. List five (5) personal qualities that a transformational leader must possess.

c. Describe five (5) strategies that a transformational leader can implement to re-position a distress bank strategically in Ghana?

Answer

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Tags: Definition, Distressed Bank, Ghana Banking, Leadership, Personal Qualities, Repositioning, Strategies, Transformational Leadership
Level: Level 1

Topic: GENERAL MANAGEMENT PRACTICES
Series: JULY 2020

CIBGH – POM 2020 – L1 – Q3 – Communication in Management

Define communication in a banking context, list advantages of written communication and demerits of oral communication and explain sources of barriers to communication along with solutions in a bank.

Question

Communication is considered as one of the most important ingredients of the management process and outcomes.

• Define the term “Communication” in a named bank.

• List three (3) advantages of written communication and two (2) demerits of oral communication in any organization?

• Explain five (5) sources of barriers and their solutions to communication programmed in a bank?

Answer

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Topic: ASPECTS OF COMMUNICATION SKILLS
Series: JULY 2020

CIBGH – POM 2020 – L1 – Q2 – Change Management in Universal Banks

In contemporary times, universal banks must embrace change management to enhance resilience and agility; discuss strategies a named bank can follow for successful change processes and outcomes.

Question

In contemporary times, universal banks must embrace change management to enhance their capacity towards resilience and agility. Discuss strategies that a named bank can follow to bring desired change process and outcomes successfully?

Answer

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Tags: Agility, Banking Strategies, BoG directives, Change Management, Ghanaian banks, Regulatory Compliance, Resilience, universal banks
Level: Level 1

Topic: Change Management, TECHNIQUES AND TOOLS OF MANAGEMENT
Series: JULY 2020

CIBGH – POM 2020 – L1 – Q1 – Management as Art Science Discipline Profession

Explain managerial skills to colleagues, state three managerial roles to improve bank productivity, and explain five common challenges faced by bank managers in the industry.

Question

It is known that management studied by professionals is an art, a science, a discipline and a profession.

(a) Briefly explain “managerial skills” to your colleagues at the workplace?

(b) State three (3) “managerial roles” that a manager can practice improving productivity of a bank?

(c) Explain five (5) challenges that bank managers face commonly in the banking industry?

Answer

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Tags: Bank Productivity, Banking Challenges, Ghanaian Banking, Management Concepts, Managerial Roles, Managerial Skills
Level: Level 1

Topic: Definition of management, Functions of management, INTRODUCTION TO MANAGEMENT, Levels of management, Principles of management
Series: JULY 2020

PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Torts

Explain contributory negligence, and distinguish between conversion and detinue.

Question

a. Explain the term Contributory Negligence.

b. Distinguish between Conversion and Detinue.

Answer

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Tags: Contributory Negligence, Conversion, Detinue, Tort Distinctions
Level: Level 1

Topic: Law of Tort
Series: APRIL 2016

PBL – APR 2016 – L1 – Q7 – Mortgages and Recovery Options

Explain second and sub-mortgages, and options for bank to recover defaulted loan secured by house, with recommendation

Question

a. Explain the following i. A second mortgage [5 Marks] ii. A sub-mortgage [5 Marks]

b. A borrowed GHS60000.00 from XYZ Bank Limited secured with his house at East Legon. A has defaulted in the payment of the money. What options are available to the bank and which would you recommend to the bank for the recovery of its money?

Answer

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Tags: econd Mortgage, Loan Default, Recovery Methods, sub-mortgage
Level: Level 1

Topic: Property and its Uses as Security
Series: APRIL 2016

PBL – APR 2016 – L1 – Q6 – Banker-Customer Relationship

Define a bank customer and the basic banker-customer relationship, and outline bank's rights over customer accounts.

Question

a. i. Who is a customer of a bank?

ii. What is the basic relationship between a bank and its customer?

b. What rights does the bank have in relation to its customers’ account?

Answer

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Tags: Bank Customer Definition, Bank Rights over Accounts, Relationship Nature
Level: Level 1

Topic: Contract Law
Series: APRIL 2016

PBL – APR 2016 – L1 – Q5 – Private vs Public Limited Liability Companies and Conversion

State differences between private and public limited liability companies, and describe conversion from private to public.

Question

a. State the difference between a Private Limited Liability Company and a Public Limited Liability Company

b. Briefly describe how a Private Limited Liability Company may be converted into a Public Limited Liability Company

Answer

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Tags: Company Types, Conversion Process, Private Limited, Public Limited
Level: Level 1

Topic: Contract Law
Series: APRIL 2016

IA – JULY 2020 – L1 – Q3 – Accounting Equation and Terms Distinction

Explain the accounting equation and distinguish between depreciation, depletion, and amortization.

Question

a. Explain the term ‘accounting equation’.

(15 marks)

b. Distinguish the following terms Depreciation, Depletion and Amortization.

(5 marks)

Answer

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Tags: Distinguish Depreciation Depletion Amortization, Equation Explanation
Level: Level 1

Topic: Accounting Equation
Series: JULY 2020

IA – JULY 2020 – L1 – Q2 – Accounting Concepts Violations and Working Capital

Identify violated accounting concepts in scenarios and explain; define working capital and explain four factors determining its requirements.

Question

Answer at least ONE question from this section

a. A number of accounting reporting situations are described below.

In preparing its financial statements, GROUP NDOMIE omitted information about an ongoing lawsuit which its lawyers advised that the company could very well lose when it gets to court.
RECEIVERSHIP COMPANY believes its people are its most significant asset. It estimates and records their value on its Balance Sheet.
SME LIMITED is carrying stock at its current market value of GHS100,000. The stock had an original cost of GHS75,000.
BREW CORPORATION is in its fifth year of operations and has yet to issue financial statements.
Nana Appah, President of A1-GOLD COMPANY LIMITED bought a computer for his personal use. He paid for the computer with company funds and recorded it in the Computers’ account.

You are required: For each of the above situations, indicate the concept or convention that has been violated, and explain why the situation described violates this assumption or principle.

Define the term “working capital”.
State and explain any four (4) factors which determine the Working Capital requirements of a business enterprise.

Total Marks – 20

Answer

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Tags: Concept Violations, Entity, Factors, Prudence, Working Capital Definition
Level: Level 1

Topic: Importance of working capital/liquidity
Series: JULY 2020

INS – JUL 2020 – L4 – Q8 – Elements of Valid Contract in UK

outline the elements that must be present for a valid contract to be formed in the UK.

Question

Outline the elements that must be present for a valid contract to be formed in the UK

Answer

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Tags: Contract Law, Elements of Contract, Insurance Contracts, Legal Principles, UK Law, Valid Contract
Level: Level 4

Topic: Insurance contracts, Legal principles of contracts
Series: JULY 2020

INS – JUL 2020 – L4 – Q7 – Duties of an Agent in Law

List and explain the duties of an agent under law, with relevance to insurance practices such as brokers and intermediaries.

Question

List and explain the duties of an agent in law

Answer

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Tags: Agency Law, Duties of Agent, Fiduciary Duties, Insurance Intermediaries, Legal obligations, Principal-Agent Relationship
Level: Level 4

Topic: Insurance contracts, Legal principles of contracts
Series: JULY 2020

IA – JULY 2020 – L1 – Q1 – Transaction Analysis and Manufacturing Account

Analyze the effects of given transactions on the accounting elements of a mining company using a table format and prepare the manufacturing section of the accounts from extracted balances.

Question

a. On March 1, 2020, KOFI CHINA opened a small-scale mining business in the Atswea Forest. Kofi China was the sole owner of the Company, which he named GALAMSEY LIMITED. During the first month of its operations in March 2020, GALAMSEY LIMITED engaged in the following transactions:

GALAMSEY LIMITED received cash of GHS 4,000,000 from Kofi China as initial capital.
The Company paid GHS 200,000 cash to the Traditional Council for the mining concession leased to it.
The business paid GHS 2,000,000 cash to acquire excavators and other mining trucks.
The business purchased supplies of various mining materials costing GHS 680,000 on credit.
The business produced and sold its first gold and received GHS 300,000 cash.
The business sold another batch of gold for GHS 400,000. The client agreed to pay in April 2020.
The business paid GHS 80,000 cash toward the supplies of various materials purchased in Transaction 4.
The business paid employee salaries of GHS 100,000 in cash.
Kofi China withdrew GHS 150,000 cash for his personal use.
The business collected GHS 260,000 from the client in Transaction 6.
Kofi China collected GHS 10,000 cash from the business for his personal groceries.

You are required to: Analyze the above transactions in terms of their effects on the accounting of GALAMSEY LIMITED.

Note: Use the following table. (T represents Transaction; Bal. represents Balance)

	Assets					Liabilities	Owner’s Equity
	Cash	Debtors	Stocks	Leasehold	Vehicles	Creditors	Capital
T 1	+4,000						+4,000
Bal.	4,000						4,000
T 2
Bal.
T 3
Bal.
…

(In GHS’000)

(10 marks)

b. The following balances were extracted from the books of CONSOLIDATED LIMITED for the year ended September 30, 2019.

	GHS		GHS
Stock (October 1, 2018):		Depreciation:
Raw Materials	105,500	Plant & Machinery	10,000
Finished Goods	347,000	Motor Van	8,000
Work-in-Progress	76,000	Sales	1,800,000
Purchases – Raw Materials	227,000	Wages	254,500
Motor Vehicle Expenses	11,000	Rent & Rates	35,000
Factory Expenses	50,000	Salaries	65,000
Selling Expenses	6,800	Administrative Expenses	700,000
Market Value of Goods Produced	0

Additional Information:

25% of Rent and Rates is for the office.
30% of Salaries is for the Foreman’s Salaries in the factory.
Stocks as at September 30, 2019:

a. Raw materials GHS 87,700

b. Finished goods GHS 320,000

c. Work-in-Progress GHS 65,000.

You are required to: Prepare CONSOLIDATED LIMITED Manufacturing section only of the Manufacturing, Trading, and Profit and Loss Accounts for the year ended September 30, 2019.

(10 marks)

Total Marks – 20

Answer

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Tags: Accounting Equation, Effects on Assets Liabilities Equity, Manufacturing Account Preparation, Transaction Analysis
Level: Level 1

Topic: The Business Cycle
Series: JULY 2020

INS – JUL 2020 – L4 – Q6 – Distinctions in Torts, Crimes, Contracts, and Damages

Distinguish between torts and crimes, torts and breach of contract, and liquidated versus unliquidated damages in the context of legal principles relevant to insurance.

Question

Distinguish between the following:

a. Torts and Crimes b. Torts and Breach of Contract c. Liquidated and Unliquidated damages

Answer

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Tags: Breach of Contract, Crimes, Insurance Law, Legal Distinctions, Liquidated Damages, Torts, Unliquidated Damages
Level: Level 4

Topic: Insurance contracts, Legal principles of contracts
Series: JULY 2020

EIB – JUL 2020 – L1 – Q8 – Fiscal Policy and Public Finance

Defines fiscal policy, states aims, methods of financing projects, and government economic activities.

Question

a. Define the term fiscal policy. (2 marks)

b. Mention any two main aims of fiscal policy.

c. State four main methods of financing economic projects.

d. The government actively engages in various economic activities. State any three of such activities.

Answer

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Tags: aims, financing methods, fiscal policy definition, government economic activities
Level: Level 1

Topic: Government
Series: JULY 2020

INS – JUL 2020 – L4 – Q5 – Distinguish Pure Risk and Speculative Risk

Differentiate between pure risk and speculative risk, highlighting their characteristics and relevance to insurance practices.

Question

Distinguish between the Pure Risk and Speculative Risk

Answer

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Tags: Ghanaian Examples, Insurance Principles, Loss Potential, Profit Potential, Pure Risk, Risk Distinction, Risk Management, Speculative Risk
Level: Level 4

Topic: Loss Potential, Principles of risk, Risk Management
Series: JULY 2020

EIB – JUL 2020 – L1 – Q7 – Money Classification and Control

Classifies money, groups fiduciary money, reasons for keeping money, and government measures to control supply.

Question

a. Name the three main classification of money.

b. Fiduciary money may be grouped into three, Name any two.

c. Mention two reasons why people keep money.

d. State three measures the government may introduce to control money supply.

Answer

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Tags: Control measures, fiduciary money, money classification, reasons for holding money
Level: Level 1

Topic: Money
Series: JULY 2020

INS – JUL 2020 – L4 – Q4 – Circumstances for Purchasing Reinsurance Cover

Explain the situations in which an insurer might opt to buy reinsurance to mitigate risks and enhance operational capabilities.

Question

In which circumstances would an insurer consider the purchase of reinsurance cover?

Answer

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Tags: Capacity Expansion, Financial Stability, Insurer Protection, Regulatory Compliance, Reinsurance, Risk Management
Level: Level 4

Topic: Principles of risk, Risk Management
Series: JULY 2020

Professional Body: CIB (GHANA)

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CIBG – Principles of Management – L1 – Q6 – Short Notes on Management Concepts

Write short notes on strategic planning, job analysis, business process re-engineering, virtual organization, and managerial control in the context of banking management.

You're reporting an error for "CIBG – Principles of Management – L1 – Q6 – Short Notes on Management Concepts"

CIBG – Principles of Management – L1 – Q5 – Groups in Learning Organizations

Outline conditions under which a bank requires groups, guidelines for forming effective groups, and factors influencing group effectiveness in a named bank.

You're reporting an error for "CIBG – Principles of Management – L1 – Q5 – Groups in Learning Organizations"

CIBGH – POM 2020 – L1 – Q4 – Transformational Leadership in Banking

Define transformational leadership, list five personal qualities of a transformational leader, and describe five strategies a transformational leader can implement to reposition a distressed bank strategically in Ghana.

You're reporting an error for "CIBGH – POM 2020 – L1 – Q4 – Transformational Leadership in Banking"

CIBGH – POM 2020 – L1 – Q3 – Communication in Management

Define communication in a banking context, list advantages of written communication and demerits of oral communication and explain sources of barriers to communication along with solutions in a bank.

You're reporting an error for "CIBGH – POM 2020 – L1 – Q3 – Communication in Management"

CIBGH – POM 2020 – L1 – Q2 – Change Management in Universal Banks

In contemporary times, universal banks must embrace change management to enhance resilience and agility; discuss strategies a named bank can follow for successful change processes and outcomes.

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CIBGH – POM 2020 – L1 – Q1 – Management as Art Science Discipline Profession

Explain managerial skills to colleagues, state three managerial roles to improve bank productivity, and explain five common challenges faced by bank managers in the industry.

You're reporting an error for "CIBGH – POM 2020 – L1 – Q1 – Management as Art Science Discipline Profession"

PBL – APR 2016 – L1 – Q8 – Contributory Negligence and Torts

Explain contributory negligence, and distinguish between conversion and detinue.

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PBL – APR 2016 – L1 – Q7 – Mortgages and Recovery Options

Explain second and sub-mortgages, and options for bank to recover defaulted loan secured by house, with recommendation

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PBL – APR 2016 – L1 – Q6 – Banker-Customer Relationship

Define a bank customer and the basic banker-customer relationship, and outline bank's rights over customer accounts.

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PBL – APR 2016 – L1 – Q5 – Private vs Public Limited Liability Companies and Conversion

State differences between private and public limited liability companies, and describe conversion from private to public.

You're reporting an error for "PBL – APR 2016 – L1 – Q5 – Private vs Public Limited Liability Companies and Conversion"

IA – JULY 2020 – L1 – Q3 – Accounting Equation and Terms Distinction

Explain the accounting equation and distinguish between depreciation, depletion, and amortization.

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IA – JULY 2020 – L1 – Q2 – Accounting Concepts Violations and Working Capital

Identify violated accounting concepts in scenarios and explain; define working capital and explain four factors determining its requirements.

You're reporting an error for "IA – JULY 2020 – L1 – Q2 – Accounting Concepts Violations and Working Capital"

INS – JUL 2020 – L4 – Q8 – Elements of Valid Contract in UK

outline the elements that must be present for a valid contract to be formed in the UK.

You're reporting an error for "INS – JUL 2020 – L4 – Q8 – Elements of Valid Contract in UK"

INS – JUL 2020 – L4 – Q7 – Duties of an Agent in Law

List and explain the duties of an agent under law, with relevance to insurance practices such as brokers and intermediaries.

You're reporting an error for "INS – JUL 2020 – L4 – Q7 – Duties of an Agent in Law"

IA – JULY 2020 – L1 – Q1 – Transaction Analysis and Manufacturing Account

Analyze the effects of given transactions on the accounting elements of a mining company using a table format and prepare the manufacturing section of the accounts from extracted balances.

You're reporting an error for "IA – JULY 2020 – L1 – Q1 – Transaction Analysis and Manufacturing Account"

INS – JUL 2020 – L4 – Q6 – Distinctions in Torts, Crimes, Contracts, and Damages

Distinguish between torts and crimes, torts and breach of contract, and liquidated versus unliquidated damages in the context of legal principles relevant to insurance.

You're reporting an error for "INS – JUL 2020 – L4 – Q6 – Distinctions in Torts, Crimes, Contracts, and Damages"

EIB – JUL 2020 – L1 – Q8 – Fiscal Policy and Public Finance

Defines fiscal policy, states aims, methods of financing projects, and government economic activities.

You're reporting an error for "EIB – JUL 2020 – L1 – Q8 – Fiscal Policy and Public Finance"

INS – JUL 2020 – L4 – Q5 – Distinguish Pure Risk and Speculative Risk

Differentiate between pure risk and speculative risk, highlighting their characteristics and relevance to insurance practices.

You're reporting an error for "INS – JUL 2020 – L4 – Q5 – Distinguish Pure Risk and Speculative Risk"

EIB – JUL 2020 – L1 – Q7 – Money Classification and Control

Classifies money, groups fiduciary money, reasons for keeping money, and government measures to control supply.

You're reporting an error for "EIB – JUL 2020 – L1 – Q7 – Money Classification and Control"

INS – JUL 2020 – L4 – Q4 – Circumstances for Purchasing Reinsurance Cover

Explain the situations in which an insurer might opt to buy reinsurance to mitigate risks and enhance operational capabilities.

You're reporting an error for "INS – JUL 2020 – L4 – Q4 – Circumstances for Purchasing Reinsurance Cover"

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