Governance in Deposit Insurance Systems Quiz
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Questions and Answers

Which entity is responsible for supervising over the affairs of the Corporation and administering the Deposit Insurance Scheme?

  • The Supervisory Authority (Federal Ministry of Finance)
  • The Executive Directors
  • The CB Director of Banking Supervision Department
  • The Board of Directors (correct)

    • Who is charged with the day-to-day management of the Corporation according to the NDIC Act?

  • The Managing Director appointed by the President (correct)
  • The Director General of the SEC
  • The Chairman of the Board of Directors
  • The Permanent Secretary of the Federal Ministry of Finance

    • Who is responsible for monetary and banking matters according to the text up to 1991?

  • The Federal Ministry of Finance (correct)
  • The NDIC Act
  • The Executive Management
  • The Director General of the SEC

    • Which individual is appointed by the Corporation as its Managing Director?

    <p>The Permanent Secretary of the Federal Ministry of Finance</p> Signup and view all the answers

    According to the NDIC Act, who is mandated to be the Director of Banking Supervision Department?

    <p>A representative of CB</p> Signup and view all the answers

    Who is in charge of the Executive Management according to the text?

    <p>The Managing Director</p> Signup and view all the answers

    What is the main purpose of the Establishment Committee?

    <p>To assist the Board in discharging its responsibilities</p> Signup and view all the answers

    How many part-time members were on the 12-member Board created by the NDIC Act 2006?

    <p>4</p> Signup and view all the answers

    What is a key requirement to promote independence among Board members?

    <p>Declaring shareholding or significant interest in insured institutions</p> Signup and view all the answers

    How many Executive Directors (EDs) were part of the Management Team since 1988?

    <p>2</p> Signup and view all the answers

    What safeguard is lacking against the abrupt dissolution of the Board as per the text?

    <p>Senate confirmation of Board members</p> Signup and view all the answers

    What is emphasized as essential for effective governance in the text?

    <p>Communication between Board and Management</p> Signup and view all the answers

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