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.

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.

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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.

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.

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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.

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.

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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.

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.

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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.

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.

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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.

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.

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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.

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)

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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.

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)

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

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

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)

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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.

(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]

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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.

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.

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.

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

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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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.

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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CIB GH – INTRODUCTION TO ACCOUNTING – APRIL 2024 – L1 – Q7 – Importance of Management Accounts and Adjustments for Accruals/Prepayments

Explain five reasons for importance of management accounts; two reasons for accruals and prepayments adjustments.

a) The owner of Asprino Ventures, as part of the advice to a newly appointed Accountant said that she should focus on the preparation of the Year-End Financial Statements and not the preparation of Management Accounts. As a Chartered Banker you know that it is important for companies to prepare Management Accounts. You are required to: Explain to the owner of Asprino Ventures with FIVE (5) reasons why Management Accounts are important. (15 marks)

b) Explain TWO (2) reasons why a business entity will make Adjustments for Accruals and Prepayments in preparing its Final Accounts. (5 marks)

[Total: 20 marks]

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CIB GH – INTRODUCTION TO ACCOUNTING – APRIL 2024 – L1 – Q6 – Budget Preparation and Activity-Based Budgeting

Describe the budget preparation process; list advantages and disadvantages of activity-based budgeting

(a) Describe the Budget Preparation Process. (10 marks)

(b) List Three (3) advantages and Two (2) disadvantages of Activity-Based Budgeting. (10 marks)

[Total: 20 marks]

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CIB GH – INTRODUCTION TO ACCOUNTING – APRIL 2024 – L1 – Q5 – Inventory Differences, FIFO Valuation, Management Accounting Sources

Identify five reasons for inventory differences; prepare FIFO statement for transactions; state sources for management accounting reports.

a) Inventory refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilisation in the near future. Inventory could be in the form of raw materials, finished goods, work in progress, among others. You are required to: Identify FIVE (5) reasons why actual inventory counted may be different from the balance in the inventory records. (5 marks)

b) The following transactions have been recorded at the Stores of Kobo Kobo Ltd. for the month of January 2022 relating to material bx.

Date Receipt Issued 2/1 1,000 units at GH¢40 per unit 5/1 600 units at GH¢45 per unit 10/1 800 units 11/1 150 units 15/1 1,200 units at GH¢42 per unit 18/1 850 units 24/1 900 units at GH¢48 per unit

You are required to: Prepare a statement clearly showing the closing balances at the end of each transaction using the FIFO method. (12 marks)

c) Management Accounting Reports aid optimum decision making when information considered in preparing the report is reliable. Information is created when data is presented in a way that has meaning to the recipient. To turn data into information, it must be processed and organised. You are required to: State TWO (2) sources from where information can be obtained for Management Accounting Reports and give ONE (1) example of each source. (3 marks)

[Total: 20 marks]

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CIB GH – INTRODUCTION TO ACCOUNTING – APRIL 2024 – L1 – Q4 – Characteristics of Useful Accounting Information and Cash Budget

Explain five characteristics of useful accounting information; identify three ways to address negative cash balances in a cash budget.

a) Explain each of the following characteristics of useful Accounting Information:

i) Relevance (3 marks)

ii) Understandability (3 marks)

iii) Materiality (3 marks) iv) Completeness (3 marks)

v) Neutrality (3 marks)

b) A Cash Budget is an estimation of the cash flows of a business over a specific period of time. This Budget is used to assess whether an entity has sufficient cash to continue operating over a given time frame. The Cash Budget provides a company with insight into its cash needs (and any surplus) and helps to determine an efficient allocation of cash. You are required to: Identify THREE (3) ways a business can address negative net monthly cash balances in a Cash Budget. (5 marks)

[Total: 20 marks]

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CIB GH – INTRODUCTION TO ACCOUNTING – APRIL 2024 – L1 – Q3 – Bank Reconciliation

Explain reasons for bank reconciliation and items in it; prepare adjusted cash book and reconciliation for given differences.

a) Bank Reconciliation is a process that compares and matches the financial records of a business with the Bank Statements to ensure they are consistent and accurate. It verifies that transactions made align with those recorded by the bank for the same period. You are required to:

i) Explain THREE (3) reasons for carrying out a Bank Reconciliation. (3 marks)

ii) State THREE (3) items which may appear in the Bank Reconciliation Statement (3 marks)

b) Akoto is preparing his Bank Reconciliation for the month of February 2024. His bank statement shows a balance of GHȼ1,824 cash at the bank. The balance on the Cash Book in his General Ledger is GHȼ645 (Credit) He has identified the following reasons for the difference

  1. The bank has credited the account in error with GHȼ485 which belongs to another customer.
  2. A cheque drawn, amounting to GHȼ345, has been entered in the Cash Book as GHȼ354.
  3. Bank charges of GHȼ320 on the Bank Statement have not been entered in the Cash Book.
  4. Cheques totalling GHȼ664 have been correctly entered on the debit side of the Cash Book, but have not been paid in at the bank.
  5. A customer’s cheque for GHȼ460 was returned by Akoto’s bank in February as the customer had insufficient funds in his account. Akoto has not recorded the return of the cheque in his Cash Book.
  6. Six cheques have not yet been presented at the bank. These are: Cheque No. GHȼ 845763 550 845739 1,540 846435 480 846502 380 846548 269 846582 200 3,419
  7. Cheque number 845739 was lost and was cancelled. Akoto has not recorded the cancellation of the cheque.

You are required to:

i) Prepare the Adjusted Cash Book for Akoto in a format which clearly indicates whether each entry is a debit or credit. (7 marks) ii) Prepare a Reconciliation of the Bank Statement Balance to the Adjusted Cash Book Balance. (7 marks)

[Total: 20 marks]

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