1 : Compare and contrast the Business Model test and the Solely Payments of Principal and Interest (SPPI) test used in International Financial Reporting Standard (IFRS) 9

2 : Explain the IFRS 9 ‘three-stage’ model (‘general model’) for impairment based on changes in credit quality since initial recognition.

3: Explain the main characteristics of a bank’s system of bookkeeping.

4 : Explain the operation of contribution in insurance using at least 2 examples.

5 : “While general contracts work on the principle of „simple good faith‟ insurance contracts work on the principle of „utmost good faith‟” Explain the statement with reasons.

Answer rating: 100% (QA)

Answer 1 Grouping of all loans and receivables into separate portfolios according to the way they are managed Analyze the objective of the entity to manage each portfoliogroup Determine the nature of ... View the full answer