Question Tag: Challenges

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SMM – OCT 2022 – L4 – Q6 – Challenges in Distribution of Bank Services

Explain any four challenges to the distribution of bank services in the context of preparing a paper for the Branch Development Committee.

Question

A distribution channel for services can be defined as any means of increasing the availability or accessibility of a service. As a Head of Marketing of your Bank, your Bank’s Chairman of Branch Development Committee has asked you to submit a paper to explain any four challenges to the distribution of Bank services.

Answer

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Tags: Bank Services, Branch Development, Challenges, Distribution Channels, Financial Services, Marketing Mix, Service Accessibility
Level: Level 4

Topic: DISTRIBUTION: OTHER CHANNELS, MARKETING CHANNELS
Series: October 2022

EOB – OCT 2022 – L1 – Q2 – Challenges in Rural Finance Access

Explain five challenges rural dwellers face in accessing finance from universal banks.

Question

State and explain any five challenges faced by Rural dwellers in accessing finance from Universal banks.

(20 marks)

Answer

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Tags: Challenges, Finance Access, Ghanaian Banking, Rural Banking, universal banks
Level: Level 1

Topic: Development and the Banking System
Series: OCT 2022

MCBFI – APR 2023 – L4 – Q3 – Challenges for Vodafone Ghana and Investment Attraction to Telecel Group

Analyze the challenges faced by Vodafone Ghana leading to its sale and assess the investment attractions in Ghana for the acquiring Telecel Group.

Question

Vodafone Ghana, formerly Ghana Telecom, was the national telecommunications company of Ghana. The company in Ghana operates under Vodacom Group – Africa’s leading mobile telecommunications company.

MyJoyOnline.com, Wednesday, February 22, 2023, has reported that Vodafone, an MNC has just completed the sale of $70 %$ Shareholdings to Telecel Group on the Ghanaian telecom industry market. According to Henry Cobbblh, Lead, i Solve Africa, the sale is as a result of the challenges and difficulties that Vodafone Ghana is having on the Ghanaian market.

Required:

(a) In your opinion, what do you think are these challenges and difficulties that Vodafone was having, in spite of the numerous opportunities and potentials existing in Ghana? (15 marks)

(b) Assess the likely investment attraction in Ghana to the Telecel Group (15 marks)

(Total: 30 marks)

Answer

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Tags: Challenges, Difficulties, Investment Attraction, Multinational Corporations, Telecel Group, Telecom Industry, Vodafone Ghana
Level: Level 4

Topic: Private Equity Transactions
Series: APR 2023

EOB – APR 2023 – L1 – Q7 – Challenges in Electronic Banking

Discuss four challenges banks face with electronic banking.

Question

State and discuss any four challenges or drawbacks banks face with electronic banking.

(20 marks)

Answer

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Tags: Challenges, Digital Banking, Drawbacks, Electronic Banking, Ghana, Risks
Level: Level 1

Topic: FRAUDS IN E-BANKING ENVIRONMENT
Series: APR 2023

BSIM – APR 2023 – L3 – Q6 – Core Banking System Development and Success Factors

Advise on factors for in-house vs. commercial software and success factors for new core banking project.

Question

The executives of a bank have decided to change their existing core banking application and introduce a new one. In its quest to minimize the challenges associated with the introduction of new systems, you have been engaged by the bank to advise management on the following.

a) The factors that management must take into consideration in either developing the software in-house or purchasing a commercial application. [10 Marks] CIB GH 04-23 BANK STRATEGIC INFORMATION MANAGEMENT LEVEL III Page 3

b) The key factors that can affect the success of the new core banking project, and the measures that the bank can adopt to minimize the challenges.

[Total: 20 Marks]

Answer

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Tags: Challenges, Core Banking Application, In-House Development, project success, purchase
Level: Level 3

Topic: IT investment decisions; Implementing change; Business analysis
Series: APR 2023

BSIM – APR 2023 – L3 – Q4 – Challenges of Lacking Digital Marketing Plan

Discuss challenges banks face without a clear digital marketing plan.

Question

Banks and other financial institutions have digitalized many of their processes and operations, including sales and marketing activities. Various electronic marketing strategies are being pursued by banks using digital platforms. Discuss five (5) challenges that such banks may encounter when there is a lack of a clear digital marketing plan.

[20 Marks]

Answer

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Tags: banking digitalization, Challenges, Digital Marketing, Electronic Strategies
Level: Level 3

Topic: Internet as a strategic business tool; Channel banking strategy; Marketing
Series: APR 2023

BSIM – APR 2023 – L3 – Q6 – Core Banking System Development vs Purchase

Factors for in-house vs. purchasing software, key success factors for new core banking project, and minimization measures

Question

b) The key factors that can affect the success of the new core banking project, and the measures that the bank can adopt to minimize the challenges.

[Total: 20 Marks]

Answer

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Tags: Challenges, Commercial Purchase, Core Banking Application, In-House Development, Measures, Success Factors
Level: Level 3

Topic: IT investment decisions
Series: APR 2023

BSIM – APR 2023 – L3 – Q4 – Challenges of Digital Marketing Without a Plan

Discuss five challenges banks face without a clear digital marketing plan

Question

[20 Marks]

Answer

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Tags: Banks, Challenges, Digital Marketing, Electronic Strategies, Operations, Sales
Level: Level 3

Topic: managing an efficient and profitable mix of delivery channels
Series: APR 2023

BSIM – APR 2023 – L3 – Q2 – Internet of Things in Banking

Describe IoT features, two use cases in banking, and associated challenges

Question

a) Describe the main features of Internet of Things (IOT) technology. [10 Marks

b) Describe two use cases of IOT technology in modern banking activities and operations, and discuss the major challenges associated with the adoption and use of IOT technology in banking. [10 Marks

Answer

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Tags: Adoption, Banking Operations, Challenges, Features, IoT Technology, Use Cases
Level: Level 3

Topic: Impact of emerging technology on financial service delivery
Series: APR 2023

BORMPTM – APRIL 2023 – L3 – Q4 – Bank Balance Sheet Items, Digital Payment Channels, Products

Identify and explain five items each on assets and liabilities sides of a bank's balance sheet; explain five benefits and challenges of digital payment channels in Ghana; mention five products driving digital payments.

Question

a) Identify and explain five (5) items each contained on the assets and liabilities sides of a bank’s balance sheet.

[5 marks]

b) Digital channels of payment in Ghana are gradually replacing the cash-based methods of payment. Explain five (5) benefits and challenges of the digital channels of payment.

[10 marks]

c) Mention five (5) products that support and drive the digital channels of payment in Ghana.

[5 marks]

[Total: 20 marks]

Answer

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Tags: Bank Balance Sheet Assets, Benefits, Challenges, Digital Payment Channels, Digital Products Ghana, Liabilities
Level: Level 3

Topic: Regulation of investment business within Ghana
Series: APR 2023

FRPA – APRIL 2024 – L3 – Q2 – IAS 8, ZBB Challenges, Budgetary Control Factors

Explain accounting policies and changes in estimates per IAS 8, four challenges of implementing ZBB, and three factors for effective budgetary control.

Question

a) IAS 8. Accounting Policies, Changes in Accounting Estimates and Errors is applied in selecting and applying Accounting Policies, Accounting for Changes in Estimates and reflecting Corrections of Prior Period Errors. The standard requires compliance with any specific IFRS applying to a transaction, event or condition, and provides guidance on developing Accounting Policies for other items that result in relevant and reliable information.

You are required to:

Explain the following in accordance with IAS 8. Accounting Policies, Changes in Accounting Estimates and Errors. i) Accounting Policies (3 marks) ii) A Change in Accounting Estimates (3 marks)

b) Zero Based Budgeting (ZBB) is a process of budgeting that allocates funding based on programme efficiency and necessity rather than budget history. ZBB aims to put the onus on managers to justify expenses and to drive value for an organisation by optimising cost and not just revenue. Adopting a ZBB Approach for a company may seem like an intending task but when weighed against the value derived, the effort is worth the result.

You are required to:

Explain four (4) challenges Management will face when implementing a Zero-Based Budgeting System (8 marks) c) Organisations invest time and resources in creating and controlling budgets to ensure stability and predictability of their operations.

You are required to:

Explain three (3) factors necessary for an effective Budgetary Control System (3 marks)

[Total: 20 marks]

Answer

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Tags: Accounting Policies, Budgetary Control, Challenges, Changes in Estimates, Effective Factors, IAS 8, Zero-Based Budgeting
Level: Level 3

Topic: and Budgets
Series: APR 2024

EOB – APR 2024 – L1 – Q2 – Challenges Affecting Banking in Rural Areas

State and explain five challenges that affect banking in rural areas of Ghana, as part of a talk to a rural community.

Question

You have been invited by the Chief of As,000pyoua, a rural farming community in the Ashanti Region of Ghana to give a talk on Challenges that affect Banking in the Rural Areas.

Required: Briefly state and explain any five (5) challenges that affect banking in the rural areas of the country.

(20 marks)

Answer

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Tags: Challenges, Economic Factors, Infrastructure, Literacy, Rural Banking, Security
Level: Level 1

Topic: Financial Institutions Overview
Series: APR 2024

BMIS – Nov 2024 – L1 – Q1b – Types of Organisations

Explain four challenges faced by GDD Ghana as a not-for-profit organisation

Question

GDD Ghana is a not-for-profit and non-partisan organisation established in Ghana to offer various services, including corruption prevention campaigns, environmental protection and election observation. Like any other not-for-profit organisation, GDD Ghana is confronted with numerous challenges in its operations.

Required:
Explain FOUR challenges that come with operating as a not-for-profit organisation.

Answer

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Tags: Challenges, Funding, Non-profit management, Not-for-profit organizations, Operational Issues, Organizational Structure, Political Tagging, Public Perception, Social Impact
Level: Level 1

Topic: Business and Organisational Structure, Business and Organizational Structures and Choices
Series: Nov 2024

PM – Nov 2018 – L2 – Q5b – Business Process Reengineering

Discuss six key challenges in developing a management information system for an organization.

Question

Discuss SIX challenges likely to be encountered in the development of an organisation’s Management Information System.

Answer

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Tags: Challenges, Management Information Systems, System Development
Level: Level 2

Topic: Business Process Reengineering
Series: NOV 2018

PSAF – Nov 2016 – L2 – Q4c – General purpose financial reporting framework

Explains the challenges faced if public sector accounts are not classified.

Question

Explain FOUR challenges that the government will encounter if public sector accounts are not classified.

Answer

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Tags: accounting classification, Challenges, Financial Reporting, Ghana, Public Sector
Level: Level 2

Topic: General purpose financial reporting framework
Series: NOV 2016

BMIS – Nov 2017 – L1 – Q1a – Business and organisational structure

Outline factors to justify the adoption of the matrix organization structure and explain challenges associated with it.

Question

a) Your Chief Executive Officer has suggested that the numerous problems confronting your organization are as a result of the type of organization structure adopted and has requested your advice regarding a change to the matrix structure.

Required:
i) Outline FIVE factors to justify the adoption of the matrix organization structure.
(5 marks)

ii) Explain FIVE challenges associated with matrix organization structure.
(5 marks)

Answer

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Tags: Challenges, Flexibility, Inefficiency, Information Flow, Knowledge Pool, Matrix Structure, Organizational Structure, Role Conflict
Level: Level 1

Topic: Business and Organisational Structure
Series: NOV 2017

PSAF – May 2019 – L2 – Q1c – Public expenditure and financial accountability framework

Explain key PFM challenges that GIFMIS seeks to address in Ghana.

Question

There were several challenges in Public Financial Management in Ghana. As a result, the Ghana Integrated Financial Management Information System (GIFMIS), touted as a flagship system for improved Public Financial Management (PFM) in Ghana, was introduced.

Required:
Explain FIVE (5) key PFM challenges the GIFMIS seeks to address.

Answer

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Tags: Challenges, GIFMIS, Public Financial Management
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: MAY 2019

PSAF – April 2022 – L2 – Q3a – The context of public financial management

Discuss challenges of PFM systems, expected outcomes, and the PEFA framework’s role in building an orderly PFM system.

Question

The goal of the Minister for Finance is to build a robust, resilient, open, and orderly Public Financial Management (PFM) system for the country by the end of 2022. This ambitious target has huge budgetary implications for the government due to the difficult fiscal position imposed by the COVID-19 pandemic. The Minister is optimistic that investing more in PFM systems today will produce the expected outcome in the immediate future.

Required:
i) Discuss THREE (3) challenges of the current Public Financial Management systems of the country. (3 marks)

ii) Explain THREE (3) expected outcomes of an open and orderly Public Financial Management system of the country. (3 marks)

iii) Explain FOUR (4) ways by which the Public Expenditure and Financial Accountability (PEFA) framework can help the Minister build an orderly and open Public Financial Management system for the country. (4 marks)

Answer

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Tags: Challenges, Ghana, Outcomes, PEFA Framework, Public Financial Management
Level: Level 2

Topic: The context of public financial management
Series: APR 2022

Question Tag: Challenges

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SMM – OCT 2022 – L4 – Q6 – Challenges in Distribution of Bank Services

Explain any four challenges to the distribution of bank services in the context of preparing a paper for the Branch Development Committee.

You're reporting an error for "SMM – OCT 2022 – L4 – Q6 – Challenges in Distribution of Bank Services"

EOB – OCT 2022 – L1 – Q2 – Challenges in Rural Finance Access

Explain five challenges rural dwellers face in accessing finance from universal banks.

You're reporting an error for "EOB – OCT 2022 – L1 – Q2 – Challenges in Rural Finance Access"

MCBFI – APR 2023 – L4 – Q3 – Challenges for Vodafone Ghana and Investment Attraction to Telecel Group

Analyze the challenges faced by Vodafone Ghana leading to its sale and assess the investment attractions in Ghana for the acquiring Telecel Group.

You're reporting an error for "MCBFI – APR 2023 – L4 – Q3 – Challenges for Vodafone Ghana and Investment Attraction to Telecel Group"

EOB – APR 2023 – L1 – Q7 – Challenges in Electronic Banking

Discuss four challenges banks face with electronic banking.

You're reporting an error for "EOB – APR 2023 – L1 – Q7 – Challenges in Electronic Banking"

BSIM – APR 2023 – L3 – Q6 – Core Banking System Development and Success Factors

Advise on factors for in-house vs. commercial software and success factors for new core banking project.

You're reporting an error for "BSIM – APR 2023 – L3 – Q6 – Core Banking System Development and Success Factors"

BSIM – APR 2023 – L3 – Q4 – Challenges of Lacking Digital Marketing Plan

Discuss challenges banks face without a clear digital marketing plan.

You're reporting an error for "BSIM – APR 2023 – L3 – Q4 – Challenges of Lacking Digital Marketing Plan"

BSIM – APR 2023 – L3 – Q6 – Core Banking System Development vs Purchase

Factors for in-house vs. purchasing software, key success factors for new core banking project, and minimization measures

You're reporting an error for "BSIM – APR 2023 – L3 – Q6 – Core Banking System Development vs Purchase"

BSIM – APR 2023 – L3 – Q4 – Challenges of Digital Marketing Without a Plan

Discuss five challenges banks face without a clear digital marketing plan

You're reporting an error for "BSIM – APR 2023 – L3 – Q4 – Challenges of Digital Marketing Without a Plan"

BSIM – APR 2023 – L3 – Q2 – Internet of Things in Banking

Describe IoT features, two use cases in banking, and associated challenges

You're reporting an error for "BSIM – APR 2023 – L3 – Q2 – Internet of Things in Banking"

BORMPTM – APRIL 2023 – L3 – Q4 – Bank Balance Sheet Items, Digital Payment Channels, Products

Identify and explain five items each on assets and liabilities sides of a bank's balance sheet; explain five benefits and challenges of digital payment channels in Ghana; mention five products driving digital payments.

You're reporting an error for "BORMPTM – APRIL 2023 – L3 – Q4 – Bank Balance Sheet Items, Digital Payment Channels, Products"

FRPA – APRIL 2024 – L3 – Q2 – IAS 8, ZBB Challenges, Budgetary Control Factors

Explain accounting policies and changes in estimates per IAS 8, four challenges of implementing ZBB, and three factors for effective budgetary control.

You're reporting an error for "FRPA – APRIL 2024 – L3 – Q2 – IAS 8, ZBB Challenges, Budgetary Control Factors"

EOB – APR 2024 – L1 – Q2 – Challenges Affecting Banking in Rural Areas

State and explain five challenges that affect banking in rural areas of Ghana, as part of a talk to a rural community.

You're reporting an error for "EOB – APR 2024 – L1 – Q2 – Challenges Affecting Banking in Rural Areas"

BMIS – Nov 2024 – L1 – Q1b – Types of Organisations

Explain four challenges faced by GDD Ghana as a not-for-profit organisation

You're reporting an error for "BMIS – Nov 2024 – L1 – Q1b – Types of Organisations"

PM – Nov 2018 – L2 – Q5b – Business Process Reengineering

Discuss six key challenges in developing a management information system for an organization.

You're reporting an error for "PM – Nov 2018 – L2 – Q5b – Business Process Reengineering"

PSAF – Nov 2016 – L2 – Q4c – General purpose financial reporting framework

Explains the challenges faced if public sector accounts are not classified.

You're reporting an error for "PSAF – Nov 2016 – L2 – Q4c – General purpose financial reporting framework"

BMIS – Nov 2017 – L1 – Q1a – Business and organisational structure

Outline factors to justify the adoption of the matrix organization structure and explain challenges associated with it.

You're reporting an error for "BMIS – Nov 2017 – L1 – Q1a – Business and organisational structure"

PSAF – May 2019 – L2 – Q1c – Public expenditure and financial accountability framework

Explain key PFM challenges that GIFMIS seeks to address in Ghana.

You're reporting an error for "PSAF – May 2019 – L2 – Q1c – Public expenditure and financial accountability framework"

PSAF – April 2022 – L2 – Q3a – The context of public financial management

Discuss challenges of PFM systems, expected outcomes, and the PEFA framework’s role in building an orderly PFM system.

You're reporting an error for "PSAF – April 2022 – L2 – Q3a – The context of public financial management"

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