Financial Sector Smarts
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Questions and Answers

Which of the following institutions is not considered part of the financial sector?

  • Insurance companies
  • Credit unions
  • Retail stores (correct)
  • Investment firms

    • What is the primary role of the financial sector in the economy?

  • Facilitating capital formation (correct)
  • Providing financial services to individuals only
  • Managing risks
  • Regulating businesses

    • Why is it important for procurement professionals to pay special attention when working with the financial sector?

  • Because financial institutions do not require data security and privacy
  • Because financial institutions do not outsource any services
  • Because financial institutions do not rely on technology for daily operations
  • Because the financial sector is heavily regulated (correct)

    • What is the role of procurement professionals in ensuring compliance with industry-specific regulations?

    <p>They ensure compliance with all applicable laws and standards</p> Signup and view all the answers

    Why is it important for procurement professionals to carefully source and manage technology assets when working with the financial sector?

    <p>Because technology assets need to meet the organisation’s needs while providing the best value</p> Signup and view all the answers

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