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

POB-LAW-AND-PRACTICE-APRIL-2024-L3-Q2 – Error in Crediting Account and Implications

Discuss the positions of parties involved when a bank credits funds to the wrong account, leading to assumptions and distributions that exhaust an estate.

Question

Joseph Blue paid in a cash of GHC 50,000 into his account with the bank and this amount was credited in error to the account of Joseph Brew, another customer. It happened that Joseph Brew was owed GHC 50,000 by John Morgan who told Brew that he (John) had received a cheque for GHC 50,000 from Gifty Mbroh. The cheque would be paid into Brew’s account. John did not fulfill his promise; but having sighted a cash deposit transaction on his bank statement Brew issued a receipt to John believing that the credit came from him. Two months after the death of John his executor, who was unable to reconcile the deceased’s account, advertised for creditors, but did not hear from Brew. The executor had concluded that the debt to Brew had been paid having sighted his receipt in John’s records. Consequently all creditors were paid and the deceased’s estate was exhausted. A few months later Joseph Blue who had now noticed the omission of the credit on his statement, observed and queried the bank.

Discuss the position of the parties showing who could suffer a loss.

[20 marks]

Answer

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Tags: Account Crediting Error, Banker-Customer Relationship, Change of Position Defence, Mistaken Payment, Recovery of Funds
Level: Level 3

Topic: Banker and Customer Relationship
Series: APR 2024

MFS – APR 2024 – L2 – Q8 – Measures to Rectify Current Account Deficit

Identify and discuss the most viable measures to rectify a persistent current account deficit on the balance of payments in a developing country.

Question

In a developing country where there has been persistent Current Account Deficit on the Balance of Payments, identify and discuss the most viable measures that could be used to rectify the Current Account Deficit.

Answer

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Tags: Balance of Payments, current account deficit, eveloping country, rectification measures, viable strategies
Level: Level 2

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.

Answer

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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

MFS – APR 2024 – L2 – Q6 – Yield Curve Explanation Using Liquidity Preference and Risk Approaches

Explain the upward slope of a normal yield curve using the liquidity preference approach and the risk approach.

Question

Using the Liquidity Preference Approach and the Risk Approach, explain the slope of the Normal Yield Curve.

Answer

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Topic: Distinction between ‘real’ and nominal interest rates, Interest rates, The term structure of interest rates
Series: APR 2024

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.

Answer

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Tags: Banking Challenges, Deposit Mobilization, Financial Stability, Ghana Banking Sector, Liquidity risk, Measures, Panic Withdrawals, Regulatory Compliance
Level: Level 2

Topic: Financial Institutions Overview, Supervision & regulation, Their profitable and prudential management
Series: APR 2024

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.

Answer

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Tags: Ghana Financial System, Informal Finance, Microfinance, Money Lenders, Non-Institutionalised Credit, ROSCAs, Susu, Traditional Credit Delivery System
Level: Level 2

Topic: Financial Institutions Overview, The nature of financial intermediation
Series: APR 2024

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.

Answer

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Tags: Banking Regulations, Business Activity, Cost Components, Financial Intermediation, Profitability Enhancement, Prudential Management, Revenue streams, Risk Management
Level: Level 2

Topic: Financial Institutions Overview, The nature of financial intermediation
Series: APR 2024

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.

Question

Identify and explain the ingredients and form of (a) Demand-Pull Inflation (b) Cost-Push Inflation

Answer

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Tags: Cost-Push Inflation, Demand-Pull Inflation, Economic Effects, Inflation Causes, Monetary Policy
Level: Level 2

Topic: Money and inflation
Series: APR 2024

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.

Answer

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Tags: Cash, Financial Assets, Ghana Economy, Interest-Bearing Assets, Liquidity, Medium of Exchange, Monetary Policy, Opportunity Cost, Value in Exchange, Value in Use
Level: Level 2

Topic: Money and inflation, The nature and function of liquidity
Series: APR 2024

MFS – APR 2024 – L4 – Q8 – Factors in Designing Retail Bank Branches

Explain six factors a bank should consider when designing retail branches, emphasizing physical evidence's role in conveying service nature and evoking emotional responses.

Question

Having selected a Retail Branch location, the bank needs to decide on the design of the branch, both inside and outside. This is because Physical Evidence conveys the nature of the service involved, reassures customers and also engenders emotional reaction through sensory and symbolic blends. As the Head of the Retail Department of a bank planning an organic growth, the Chairman of the Branch Development Committee has asked you to submit a report explaining six (6) factors the bank needs to take into consideration in designing the branches.

Answer

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Tags: Branch Design, Customer Reassurance, Facilities Management, Ghana Banking, Organic Growth, Physical Evidence, Retail Outlet Environment, Sensory Design, Symbolic Blends
Level: Level 4

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.

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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.

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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.

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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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POB-LAW-AND-PRACTICE-APRIL-2024-L3-Q2 – Error in Crediting Account and Implications

Discuss the positions of parties involved when a bank credits funds to the wrong account, leading to assumptions and distributions that exhaust an estate.

You're reporting an error for "POB-LAW-AND-PRACTICE-APRIL-2024-L3-Q2 – Error in Crediting Account and Implications"

MFS – APR 2024 – L2 – Q8 – Measures to Rectify Current Account Deficit

Identify and discuss the most viable measures to rectify a persistent current account deficit on the balance of payments in a developing country.

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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.

You're reporting an error for "MFS – APR 2024 – L2 – Q7 – Objectives of Macro-Economic Policy and Their Conflicts"

MFS – APR 2024 – L2 – Q6 – Yield Curve Explanation Using Liquidity Preference and Risk Approaches

Explain the upward slope of a normal yield curve using the liquidity preference approach and the risk approach.

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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.

You're reporting an error for "MFS – APR 2024 – L2 – Q5 – Panic Withdrawals and Deposit Mobilization in Ghana Banking Sector"

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.

You're reporting an error for "MFS – APR 2024 – L2 – Q4 – Structure of Traditional/Informal Credit Delivery System in Ghana"

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.

You're reporting an error for "MFS – APR 2024 – L2 – Q3 – Financial Intermediation and Profitability Enhancement"

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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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.

You're reporting an error for "MFS – APR 2024 – L2 – Q1 – Medium of Exchange and Opportunity Cost of Liquidity"

MFS – APR 2024 – L4 – Q8 – Factors in Designing Retail Bank Branches

Explain six factors a bank should consider when designing retail branches, emphasizing physical evidence's role in conveying service nature and evoking emotional responses.

You're reporting an error for "MFS – APR 2024 – L4 – Q8 – Factors in Designing Retail Bank Branches"

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