1. Business
  2. Finance
  3. list at least three of the main sectors of the...

Question: list at least three of the main sectors of the...

Question details
  1. List at least three of the main sectors of the financial services industry that may impact your role as a finance broker. 

 

  1. In your own words, briefly explain the memorandum of understanding between ASIC and APRA. 

Refer to this ASIC link to assist you with the answer: https://asic.gov.au/about-asic/what-we-do/our-role/other-regulators-and-organisations/the-asic-apra-relationship/

 

SCENARIO – RESPONSIBLE LENDING CONDUCT OBLIGATIONS

Paul Janes has a tiling business and has earnt $90,000 for the most recent financial year. His wife Melanie works at Coles Supermarket on a part time basis and she has been promised the position of Store Manager, likely to earn $20,000 more than what she is currently earning. The couple are in their mid 40’s and have a son living at home. They have a current home loan of $250,000. They are seeking a personal loan from you for an overseas trip of $50,000. The couple have approximately three credit cards. 

  1. What are two or more qualifying questions you should ask the clients in the above scenario to clarify their financial situation? 

 

  1. Why is it important to make reasonable enquiries about a client?

 

  1. Why is it important to take steps to verify a customer’s information? 
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