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Questions and Answers
What are two of the main objectives of regulation?
What are two of the main objectives of regulation?
- To protect consumers and to promote economic efficiency. (correct)
- To increase profits and to reduce competition.
- To reduce costs and to improve quality.
- To promote trade and to reduce unemployment.
What are the main differences between rules-based and principles-based approaches to regulation?
What are the main differences between rules-based and principles-based approaches to regulation?
- Rules-based is more flexible, while principles-based is more rigid.
- Rules-based focuses on specific requirements, while principles-based focuses on overall outcomes. (correct)
- Principles-based is more suitable for complex industries, while rules-based is better for simple industries.
- Rules-based is used in the US, while principles-based is used in the EU.
What is the mission of the Islamic Financial Services Board (IFSB)?
What is the mission of the Islamic Financial Services Board (IFSB)?
- To promote the global Islamic financial services industry (correct)
- To regulate the conventional banking system
- To provide financial assistance to developing countries
- To promote the use of cryptocurrencies
What are the penalties for breach of the General Data Protection Regulation (GDPR)?
What are the penalties for breach of the General Data Protection Regulation (GDPR)?
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What are the data subject rights granted under the General Data Protection Regulation (GDPR)?
What are the data subject rights granted under the General Data Protection Regulation (GDPR)?
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