Your coursework should be between 2,000 and 2,500 words.<\/p>\n
You should ensure that any quotes used conform to our exact referencing format. If<\/p>\n
references are used, a reference list must be provided at the end. Please see the<\/p>\n
Course Site for guidance on referencing and creating a reference list.<\/p>\n
The word count includes any: footnotes, endnotes, glossaries, diagrams, figures or<\/p>\n
tables. The word count does not include the title page, or appendices. Appendices<\/p>\n
should be used occasionally, with the intention of providing further detail about points<\/p>\n
made in the main body of the coursework. They will not be taken into account where<\/p>\n
they are used to include detail that should have been in the main body of the coursework<\/p>\n
Assignment<\/p>\n
Answer all questions from both sections.<\/p>\n
Section A<\/p>\n
Case study scenario:<\/p>\n
With several years\u2019 experience as a new business administrator at a small<\/p>\n
independent asset finance company, you were successful in applying for a new<\/p>\n
position as pay-out supervisor at a bank-owned asset finance company.<\/p>\n
Your main responsibility in your new role is to carry out final checks on documentation<\/p>\n
for all larger transactions (where the net advance exceeds \u00a3250,000) prior to them<\/p>\n
being authorised for pay-out.<\/p>\n
One of the first cases presented to you relates to a hire purchase agreement with a<\/p>\n
long-established customer of the bank and all documentation has been completed<\/p>\n
ready for pay-out. However, in the file are a number of copy emails between the<\/p>\n
customer and your Sales Manager. In one of the emails, the customer asks the Sales<\/p>\n
Manager what the implicit interest rate is in the agreement and the response is that it<\/p>\n
is 6%. You check the calculations and find that the correct rate is 6.75%.<\/p>\n
Required:<\/p>\n
With reference to the above scenario, answer the question below:<\/p>\n
1. Explain what action you would take following your discovery of the<\/p>\n
interest rate discrepancy and analyse how ethics, business culture<\/p>\n
and personal morality would influence how someone in your<\/p>\n
position might respond in this scenario. (50 marks)<\/p>\n
Section B<\/p>\n
Required:<\/p>\n
Answer both questions below:<\/p>\n
2. The Finance and Leasing Association\u2019s Business Finance Code<\/p>\n
contains recommendations to customers taking out business<\/p>\n
finance agreements. Outline the recommendations and how they<\/p>\n
might assist those customers in gaining a positive outcome from<\/p>\n
using asset finance. (25 marks)<\/p>\n
3. In relation to fair treatment of customers (FTC), outline the<\/p>\n
outcomes that the Financial Conduct Authority expects FTC to<\/p>\n
achieve for consumers and how it expects asset finance companies<\/p>\n
to apply FTC.(25 marks)<\/p>\n
(Total = 100 marks)<\/p>\n
Essential reading<\/p>\n
Bank of England (2019) Financial Policy Committee [online]. Available at: https:\/\/www.bankofengland.co.uk\/about\/people\/financial-policy-committee opens in new windowFCA (no date) CONC 2.5 Conduct of business: credit broking [online]. Available at: https:\/\/www.handbook.fca.org.uk\/handbook\/CONC\/2\/5.html opens in new window .FCA (no date) Strengthening accountability in Banking [pdf] Available at: https:\/\/www.fca.org.uk\/publication\/documents\/strengthening-accountability-in-banking-slides.pdf opens in new windowLlewellyn, D. (1999) The economic rationale for financial regulation. Occasional paper series 1 [pdf]. Available at: http:\/\/www.fsa.gov.uk\/pubs\/occpapers\/op01.pdf opens in new windowNo actual limit on sources but please use a least a few from the above<\/p>\n","protected":false},"excerpt":{"rendered":"
Your coursework should be between 2,000 and 2,500 words. You should ensure that any quotes used conform to our exact referencing format. If references are used, a reference list must be provided at the end. Please see the Course Site for guidance on referencing and creating a reference list. The word count includes any: footnotes, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[14],"class_list":["post-70430","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing","tag-finance"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/70430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=70430"}],"version-history":[{"count":0,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/70430\/revisions"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=70430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=70430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=70430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}