Series: APR 2024

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SMM – APRIL 2024 – L4 – Q6 – Evaluating Alternative Distribution Channels

Explain five criteria that can be used to evaluate alternative channels for distributing bank products and services, in the context of marketing strategy formulation.

Question

Distribution is a key element of Marketing Strategy formulation. In your role as the Head of Business Development of your Bank, your Deputy Managing Director-Operations, has asked you to to write a report explaining five (5) criteria that can be used to evaluate Alternative Channels of distributing bank products and services.

Answer

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Tags: Alternative Channels, Bank Products, Distribution Channels, Evaluation Criteria, Fintech Regulations, Ghanaian Banking, Marketing Strategy, Services Distribution
Level: Level 4

Topic: Definition, MARKETING CHANNELS, purpose and forms, Value added by channel members, Value to customers
Series: APR 2024

SMM – APRIL 2024 – L4 – Q5 – Financial Services, Inseparability, Customer Service Personnel, Marketing Strategy, Personnel Quality, Improvement Methods, Banking Sector, Ghanaian Context

Explain five ways a bank can maintain and improve the quality of its customer service personnel and their performance in service delivery, in the context of inseparability in financial services.

Question

One of the key characteristics of Financial Services is that of inseparability. The selling of the service cannot be separated from the individual rendering the service. This implies that Customer Service personnel constitute an important element of Financial Services Marketing Strategy. In your role as the Head of Customer Service in your Bank, your Chief Executive Officer has asked you to write a report explaining five (5) ways in which the bank can maintain and improve the quality of its personnel and their performance in Customer Service Delivery.

Answer

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Tags: Banking Sector, Customer Service Personnel, Financial Services, Ghanaian Context, Improvement Methods, Inseparability, Marketing Strategy, Personnel Quality
Level: Level 4

Topic: EXTENDED MARKETING MIX, The need for service quality
Series: APR 2024

SMM – APR 2024 – L4 – Q4 – Internal Marketing Communications

Write a memorandum explaining the importance of internal marketing communications in banks and prepare an outline of an internal marketing plan for presentation.

Question

The increased recognition and use of Internal Marketing Communications by banks throughout the world suggests that Bank employees can be regarded as an important but often neglected target audience. In your role as the Head of Marketing and Corporate Affairs Department in your Bank, write write a memorandum on the subject to be sent to the Head of Human Resource. Explain briefly why Internal Marketing Communications are important. Prepare an outline of an Internal Marketing Plan for presentation at the next Management meeting.

Answer

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Tags: Bank Employees, Communication Mix, Financial Services, Ghanaian Banking, importance, Internal Marketing Plan, Memorandum, nternal Marketing Communications, Outline, Service Quality
Level: Level 4

Topic: Customer service and satisfaction, EXTENDED MARKETING MIX, The process of communication
Series: APR 2024

SMM – APR 2024 – L4 – Q3 – Price Elasticity in Banking Products

Explain five reasons why demand for some banking products price elastic is while for others it is price inelastic, in the context of training Treasury Officers.

Question

In your role as the Head of Marketing in your Bank, your Head of Human Resource Management has asked you to run a workshop for newly recruited Treasury Officers. Explain with five (5) reasons why the demand for some banking products is Price Elastic and the demand for others Price Inelastic.

Answer

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Tags: Banking Products, Consumer Behaviour, Demand, Financial Services, Ghanaian Banking, Price Elasticity, Price Inelasticity, Pricing Strategies
Level: Level 4

SMM – APR 2024 – L4 – Q2 – Factors for Selecting a West African Market under AfCFTA

Write a paper explaining five factors with examples for a multinational bank to consider before selecting a West African market to enter, leveraging the AfCFTA initiative.

Question

In your role as Head of Business Development of a multinational Bank planning to enter the West Africa market to take advantage of the African Continental Free Trade Area (ACFTA) initiative, your Managing Director has asked you to write a paper to Management. Explain, with examples, five (5) factors the bank should take into consideration before selecting a particular market in West Africa.

Answer

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Topic: INTERNATIONALISATION OF MARKETING, STRATEGIC PLANNING
Series: APR 2024

SMM – APR 2024 – L4 – Q1 – Development of 5-Year Strategic Marketing Plan for New Investment Product

Develop a 5-Year Strategic Marketing Plan for a new investment product targeted at high-net-worth bond holders affected by Ghana's DDEP, focusing on value creation in the banking sector.

Question

Any investment decision should be aimed at a coherent objective of creating value. As a result of Ghana’s Domestic Debt Exchange Programme (DDEEP), the value of Government of Ghana Bonds as well as sales has reduced considerably. Potential and existing investors who are highnetwork individuals are now diversifying their investments from the bonds.

Your Bank after market research on bonds purchased has decided to develop a new investment product targeted at those potential and existing bond holders. The success of any New Product Development includes the development of a Strategic Marketing Plan for the product. As the Head of Business Development of your Bank, you have been asked by the Chairman of the Product Development Committee to develop a 5-Year Strategic Marketing Plan for the new product.

Answer

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RM – APR 2024 – L4 – Q8 – Liquidity Management and Governance Measures

Discusses five internal or regulatory measures to avoid bank liquidation due to poor liquidity and governance.

Question

Improper Liquidity Management and weak Corporate Governance practices have caused the collapse of Ghanaian banks in the past.

Discuss any five (5 internal or regulatory measures that these banks could have resorted to in a bid to avoid liquidation.

(20 marks)

Answer

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Tags: Bank Collapses, Corporate Governance, Internal Measures, Liquidity management, Regulatory Measures
Level: Level 4

Topic: LIQUIDITY RISK MANAGEMENT
Series: APR 2024

RM – APR 2024 – L4 – Q7 – Outsourcing and Collaboration Risks

Discusses five key risk implications from outsourcing and collaborations with Telecom and Fintech.

Question

Discuss at least five (5) key risk implications arising from the inevitable outsourcing of aspects of the banks’ operations and collaboration with Telecommunication and Fintech companies. (Hint – Discuss operational risk perspectives)

(20 marks)

Answer

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Tags: Fintech, Implications, Operational Risk, Outsourcing, Telecom Collaboration
Level: Level 4

Topic: RISKS IN INTERNATIONAL TRADE FINANCE
Series: APR 2024

RM – APR 2024 – L4 – Q6 – Treasury Policy Areas

Discusses five key areas for a Treasury Policy and their criticality.

Question

Discuss broadly five (5) key areas to be addressed by a Treasury Policy, indicating why these are critical for the effective functioning of the Treasury Department in its capital maintenance, liquidity and income generation functions.

(20 marks)

Answer

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Tags: ALM, Capital Maintenance, Income Generation, Liquidity, Treasury Policy
Level: Level 4

Topic: RISKS IN TREASURY MANAGEMENT
Series: APR 2024

RM – APR 2024 – L4 – Q5 – Cyber Security in Information Security Management

Defines Cyber Security, sources of vulnerabilities, and its importance in banking.

Question

(a) What is “Cyber Security” in the context of Information Security Management? (10 marks)

(b) What are the key sources of vulnerabilities in the Cyber Space of Banking Businesses? (5 marks)

(c) Why has Cyber Security assumed such importance in Contemporary Banking? (5 marks)

[Total: 20 marks]

Answer

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Tags: Contemporary Banking, Cyber Security, Information security, Vulnerabilities
Level: Level 4

Topic: CYBER SECURITY
Series: APR 2024

PBL – APR 2024 – L1 – Q6 – Bank Duties to Customers and Secrecy Limitations

Discuss bank duties to customers and limitations on secrecy duty.

Question

(a) Discuss the Duties of a Bank to its Customer under the Bank/Customer Relationship. (15 marks)

(b) What are the limitations to the Duty of Secrecy and Confidentiality? (5 marks)

(Total – 20 marks)

Answer

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Tags: Banker-Customer Relationship, Banking Law, Confidentiality, Duties, Secrecy Exceptions
Level: Level 1

Topic: Conflicts of Law
Series: APR 2024

PBL – APR 2024 – L1 – Q5 – Features of a Private Company

Describe the key features of a private company.

Question

Describe the features of a Private Company.

(20 marks)

Answer

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Tags: Company features, Governance, Limited Liability, Private Company, Shares
Level: Level 1

Topic: Conflicts of Law
Series: APR 2024

PBL – APR 2024 – L1 – Q4 – Executors vs Administrators in Succession

Differences between executors (appointed by will) and administrators (appointed for intestate estates).

Question

State and explain the difference between Executor (appointed by one who makes a will) and Administrators (appointed by members of the family of a deceased who dies intestate – that is without making a will).

(20 marks)

Answer

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Tags: Administrators, Estate Administration, Executors, Intestate Succession, Wills
Level: Level 1

Topic: Succession
Series: APR 2024

PBL – APR 2024 – L1 – Q3 – Contract of Guarantee

Explain contract of guarantee and its validity requirements.

Question

(a) Explain a contract of Guarantee. (5 marks)

(b) What are the requirements of a valid Guarantee? (15 marks)

(Total – 20 marks)

Answer

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Tags: Banking Security, Contract Elements, Guarantee, Surety, Validity Requirements
Level: Level 1

Topic: Contract Law
Series: APR 2024

PBL – APR 2024 – L1 – Q2 – Discharge of Contract by Frustration

Discuss circumstances where a contract is discharged by frustration.

Question

“Frustration or subsequent impossibility is a way by which a contract may be discharged.” Discuss the circumstances in which a contract will be held discharged by the operation of the doctrine of frustration.

(20 marks)

Answer

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Tags: Common Law, Contract Discharge, Frustration Doctrine, Impossibility, Supervening Events
Level: Level 1

Topic: Contract Law
Series: APR 2024

PBL – APR 2024 – L1 – Q1 – Negligence in Consumer Product Liability

Advise on a negligence claim against a brewery for injury caused by contaminated ginger beer.

Question

Yaa Asantewaa bought and drank Denice Ginger Beer manufactured by Denice Breweries. She got injured because kerosene was found in the bottle of the ginger beer. Advise Yaa Asantewaa on a case of negligence against Denice Breweries.

(20 marks)

Answer

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Tags: Duty of Care, Manufacturer Liability, Negligence, Product Safety, Tort Law
Level: Level 1

Topic: Law of Tort
Series: APR 2024

POB-LAW-AND-PRACTICE – APRIL 2024 – LEVEL III – Q7 – Clauses in Security Charge Form for Corporate Securities

Discuss five key clauses typically found in a security charge form for corporate securities in banking practice.

Question

Discuss five (5) clauses that you would find in a security charge form for corporate securities.

[Total: 20 marks]

Answer

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Tags: Banking Advances, Clauses, Corporate Securities, Debentures, Ghanaian Law, Guarantees, Security Charge Form
Level: Level 3

Topic: Corporate Lending
Series: APR 2024

POB-LAW-AND-PRACTICE – APRIL 2024 – LEVEL III – Q6 – Realizing Assignment of Life Insurance Policy

Case study on bank's surrender of an assigned life insurance policy as security, followed by death of the borrower; advise on procedure for realization upon death and handling executor's demands.

Question

Parkinson Mainnoo, a retired Company Director, has a limit of GHC200,000 on his current account, but with a borrowing at GHC 150,000 the account became inactive twelve months ago. There was no response to your letters and last December you called in the borrowing. Again, there was no response and as you held a legal charge by Mainnoo over an Endowment Life Policy, nominal value GHC 250,000, with a surrender value of GHC 215,000, you surrendered the policy.

Now, seven (7) weeks later, you had a visit from Mr. Mainnoo’s son, David who told you that his father died in hospital last week and that he is named as Executor in the will. He enquires about the Life Policy and is astounded to learn that the bank has surrendered it. He claims that as sole beneficiary, he has, by your action, been deprived of the Capital Value which would have accrued to the estate upon his father’s death. He further states that had the bank required, they would have learnt that his father was seriously ill in hospital. Mr. David Mainnoo, who is a legal executive with a firm of solicitors, says that in any even the bank should have given three (3) months’ notice before realizing the Security and he threatens action as Executor and sole beneficiary.

(a) Advise the bank on the procedure for realizing an Assignment of a Life Insurance Policy in the event of death of the Life Assured. [15 marks]

(b) How should the bank deal with David’s demand? [5 marks]

[Total: 20 marks]

Answer

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Tags: Assignment, Banking Security, Death of Life Assured, Executor Demands, Ghanaian banking law, Life insurance policy, Realization
Level: Level 3

Topic: Enforcement of Securities
Series: APR 2024

POB-LAW-AND-PRACTICE-APRIL-2024-L3-Q4 – Stop Payment Instruction on Cheque and Bank’s Liability

Discuss the bank's position after paying a cheque despite a verbal stop instruction, not recorded, and steps to protect interests amid the payee's receivership.

Question

Aggregates Ltd., a large engineering company, has banked with you for ten (10) years. You have supported it with borrowing facilities from time to time, to help to finance work-inprogress, against a legal mortgage over the company’s land and buildings. For the last few months the account has been operating in credit.

A week ago, one of your clerks took a telephone call from the Company Secretary, instructing the bank to stop payment of a cheque for GHC 205,000, drawn in favour of Vacornis Ltd., a building company which was in the course of erecting a new factory on your customer’s land. This cheque was a stage payment under the terms of the contract. Unfortunately, your clerk suffered an accident in the office shortly after taking this call and, as a result, the message was not recorded. On the following day, the cheque was presented in the clearing and was paid. The letter from the company confirming the telephone call has only just been received, and the company mentions that the reason for its stopping the cheque is that Vacornis Ltd. has had a receiver appointed by its bankers.

What is the bank’s position? What steps must now be taken in the best interests of the customer and the bank?

[Total: 20 marks]

Answer

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Tags: Bank's Duty, Cheque Payment, Confirmation Requirements, Receiver Appointment, Stop Payment Order
Level: Level 3

Topic: Payments and Collection of Cheques
Series: APR 2024

POB-LAW-AND-PRACTICE-APRIL-2024-L3-Q3 – Joint Account Operations After Death of Co-Holder

Advise the bank on handling a joint account after one holder's death, where the survivor requests transfer, followed by family demands for estate purposes.

Question

Jacob Osei and Bernard Mensah operate a joint account with you. The mandate on the account is either to sign. Jacob is frequently out of the country so most of the time it is Bernard Mensah who has been coming to the bank personally to make payments into the account. On a few occasions Jacob has remitted funds into the account from abroad. You have just received notice that Jacob has passed away.

Bernard who has an individual personal account with you has sent you instructions to transfer the balance from the joint account into his personal account since as he says he is the “sole survivor” to the account. Two days after you have complied with the instructions, five of the elderly family members of the Osei family are before you to request for the balance on the account to enable them to apply for Letters of Administration for the management of Jacob Osei ‘s estate.

Advise the bank.

[Total: 20 marks]

Answer

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Tags: Death of Customer, Estate Management, joint accounts, Letters of Administration, Survivorship Clause
Level: Level 3

Topic: Types of Accounts Holders
Series: APR 2024

Series: APR 2024

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SMM – APRIL 2024 – L4 – Q6 – Evaluating Alternative Distribution Channels

Explain five criteria that can be used to evaluate alternative channels for distributing bank products and services, in the context of marketing strategy formulation.

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SMM – APRIL 2024 – L4 – Q5 – Financial Services, Inseparability, Customer Service Personnel, Marketing Strategy, Personnel Quality, Improvement Methods, Banking Sector, Ghanaian Context

Explain five ways a bank can maintain and improve the quality of its customer service personnel and their performance in service delivery, in the context of inseparability in financial services.

You're reporting an error for "SMM – APRIL 2024 – L4 – Q5 – Financial Services, Inseparability, Customer Service Personnel, Marketing Strategy, Personnel Quality, Improvement Methods, Banking Sector, Ghanaian Context"

SMM – APR 2024 – L4 – Q4 – Internal Marketing Communications

Write a memorandum explaining the importance of internal marketing communications in banks and prepare an outline of an internal marketing plan for presentation.

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SMM – APR 2024 – L4 – Q3 – Price Elasticity in Banking Products

Explain five reasons why demand for some banking products price elastic is while for others it is price inelastic, in the context of training Treasury Officers.

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SMM – APR 2024 – L4 – Q2 – Factors for Selecting a West African Market under AfCFTA

Write a paper explaining five factors with examples for a multinational bank to consider before selecting a West African market to enter, leveraging the AfCFTA initiative.

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SMM – APR 2024 – L4 – Q1 – Development of 5-Year Strategic Marketing Plan for New Investment Product

Develop a 5-Year Strategic Marketing Plan for a new investment product targeted at high-net-worth bond holders affected by Ghana's DDEP, focusing on value creation in the banking sector.

You're reporting an error for "SMM – APR 2024 – L4 – Q1 – Development of 5-Year Strategic Marketing Plan for New Investment Product"

RM – APR 2024 – L4 – Q8 – Liquidity Management and Governance Measures

Discusses five internal or regulatory measures to avoid bank liquidation due to poor liquidity and governance.

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RM – APR 2024 – L4 – Q7 – Outsourcing and Collaboration Risks

Discusses five key risk implications from outsourcing and collaborations with Telecom and Fintech.

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RM – APR 2024 – L4 – Q6 – Treasury Policy Areas

Discusses five key areas for a Treasury Policy and their criticality.

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RM – APR 2024 – L4 – Q5 – Cyber Security in Information Security Management

Defines Cyber Security, sources of vulnerabilities, and its importance in banking.

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PBL – APR 2024 – L1 – Q6 – Bank Duties to Customers and Secrecy Limitations

Discuss bank duties to customers and limitations on secrecy duty.

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PBL – APR 2024 – L1 – Q5 – Features of a Private Company

Describe the key features of a private company.

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PBL – APR 2024 – L1 – Q4 – Executors vs Administrators in Succession

Differences between executors (appointed by will) and administrators (appointed for intestate estates).

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PBL – APR 2024 – L1 – Q3 – Contract of Guarantee

Explain contract of guarantee and its validity requirements.

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PBL – APR 2024 – L1 – Q2 – Discharge of Contract by Frustration

Discuss circumstances where a contract is discharged by frustration.

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PBL – APR 2024 – L1 – Q1 – Negligence in Consumer Product Liability

Advise on a negligence claim against a brewery for injury caused by contaminated ginger beer.

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POB-LAW-AND-PRACTICE – APRIL 2024 – LEVEL III – Q7 – Clauses in Security Charge Form for Corporate Securities

Discuss five key clauses typically found in a security charge form for corporate securities in banking practice.

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POB-LAW-AND-PRACTICE – APRIL 2024 – LEVEL III – Q6 – Realizing Assignment of Life Insurance Policy

Case study on bank's surrender of an assigned life insurance policy as security, followed by death of the borrower; advise on procedure for realization upon death and handling executor's demands.

You're reporting an error for "POB-LAW-AND-PRACTICE – APRIL 2024 – LEVEL III – Q6 – Realizing Assignment of Life Insurance Policy"

POB-LAW-AND-PRACTICE-APRIL-2024-L3-Q4 – Stop Payment Instruction on Cheque and Bank’s Liability

Discuss the bank's position after paying a cheque despite a verbal stop instruction, not recorded, and steps to protect interests amid the payee's receivership.

You're reporting an error for "POB-LAW-AND-PRACTICE-APRIL-2024-L3-Q4 – Stop Payment Instruction on Cheque and Bank’s Liability"

POB-LAW-AND-PRACTICE-APRIL-2024-L3-Q3 – Joint Account Operations After Death of Co-Holder

Advise the bank on handling a joint account after one holder's death, where the survivor requests transfer, followed by family demands for estate purposes.

You're reporting an error for "POB-LAW-AND-PRACTICE-APRIL-2024-L3-Q3 – Joint Account Operations After Death of Co-Holder"

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