Home › International Academy › Australia › Practice exam Australia · independent exam preparation Australian Banking and Financial Advice Fundamentals Practice Exams Practise Australian banking and financial advice fundamentals with 10 mini and full tests covering deposits, credit, superannuation, advice and regulation.
Choose one of 10 practice sets Question 1 of 20
1. Which statement best describes Financial Services Guide? A document explaining a provider, services, remuneration and complaint arrangements Financial product advice not considering a person objectives, situation or needs A document recording personal advice and its basis where required Advice considering one or more personal objectives, financial situation or needs
2. Which pairing is accurate? Transaction account — A bank account designed for everyday payments and withdrawals Term deposit — Money deposited for a stated term at agreed conditions Australian Financial Services licence — Authorisation required for specified financial services activities Financial Claims Scheme — Australian protection for eligible deposits with authorised institutions within limits
3. Which pairing is accurate? Financial Services Guide — A document explaining a provider, services, remuneration and complaint arrangements General advice — Financial product advice not considering a person objectives, situation or needs Personal advice — Advice considering one or more personal objectives, financial situation or needs Statement of Advice — A document recording personal advice and its basis where required
4. Which pairing is NOT accurate? Term deposit — A rate combining interest and specified fees to aid loan comparison Offset account — An account balance used to reduce interest calculated on a linked loan Responsible lending — Obligations applying to specified consumer credit activities Comparison rate — A rate combining interest and specified fees to aid loan comparison
5. Which term matches this description: “A document explaining a provider, services, remuneration and complaint arrangements”? Financial Services Guide General advice Statement of Advice Personal advice
6. Which pairing is NOT accurate? Financial Claims Scheme — Australian protection for eligible deposits with authorised institutions within limits Transaction account — A bank account designed for everyday payments and withdrawals Personal advice — Authorisation required for specified financial services activities Australian Financial Services licence — Authorisation required for specified financial services activities
7. Which pairing is NOT accurate? Superannuation — Australia long-term retirement savings system Offset account — An account balance used to reduce interest calculated on a linked loan Responsible lending — An account balance used to reduce interest calculated on a linked loan Concessional contribution — A super contribution generally made before tax under applicable limits
8. Which statement best describes Australian Financial Services licence? Money deposited for a stated term at agreed conditions Australian protection for eligible deposits with authorised institutions within limits Authorisation required for specified financial services activities A bank account designed for everyday payments and withdrawals
9. Which pairing is accurate? Term deposit — Money deposited for a stated term at agreed conditions Responsible lending — Obligations applying to specified consumer credit activities Transaction account — A bank account designed for everyday payments and withdrawals Comparison rate — A rate combining interest and specified fees to aid loan comparison
10. Which term matches this description: “An account balance used to reduce interest calculated on a linked loan”? Concessional contribution Financial Services Guide Offset account Superannuation
11. Which pairing is accurate? Superannuation — Australia long-term retirement savings system Responsible lending — Obligations applying to specified consumer credit activities Offset account — An account balance used to reduce interest calculated on a linked loan Concessional contribution — A super contribution generally made before tax under applicable limits
12. Which pairing is accurate? Comparison rate — A rate combining interest and specified fees to aid loan comparison Financial Claims Scheme — Australian protection for eligible deposits with authorised institutions within limits Transaction account — A bank account designed for everyday payments and withdrawals Term deposit — Money deposited for a stated term at agreed conditions
13. Which pairing is accurate? Transaction account — A bank account designed for everyday payments and withdrawals Financial Claims Scheme — Australian protection for eligible deposits with authorised institutions within limits Personal advice — Advice considering one or more personal objectives, financial situation or needs Australian Financial Services licence — Authorisation required for specified financial services activities
14. Which pairing is accurate? Personal advice — Advice considering one or more personal objectives, financial situation or needs Statement of Advice — A document recording personal advice and its basis where required Australian Financial Services licence — Authorisation required for specified financial services activities General advice — Financial product advice not considering a person objectives, situation or needs
15. Which pairing is NOT accurate? Term deposit — Money deposited for a stated term at agreed conditions Comparison rate — A rate combining interest and specified fees to aid loan comparison Financial Claims Scheme — A bank account designed for everyday payments and withdrawals Transaction account — A bank account designed for everyday payments and withdrawals
16. Which statement best describes Superannuation? A document explaining a provider, services, remuneration and complaint arrangements A super contribution generally made before tax under applicable limits Australia long-term retirement savings system A document recording personal advice and its basis where required
17. Which statement best describes Statement of Advice? Advice considering one or more personal objectives, financial situation or needs Authorisation required for specified financial services activities Financial product advice not considering a person objectives, situation or needs A document recording personal advice and its basis where required
18. Which pairing is NOT accurate? Superannuation — Australia long-term retirement savings system Comparison rate — Obligations applying to specified consumer credit activities Offset account — An account balance used to reduce interest calculated on a linked loan Responsible lending — Obligations applying to specified consumer credit activities
19. Which pairing is accurate? Comparison rate — A rate combining interest and specified fees to aid loan comparison Offset account — An account balance used to reduce interest calculated on a linked loan Responsible lending — Obligations applying to specified consumer credit activities Term deposit — Money deposited for a stated term at agreed conditions
20. Which pairing is accurate? Offset account — An account balance used to reduce interest calculated on a linked loan Financial Services Guide — A document explaining a provider, services, remuneration and complaint arrangements Concessional contribution — A super contribution generally made before tax under applicable limits Superannuation — Australia long-term retirement savings system
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Practice format Choose any of 10 mock sets. Every set offers a 20-question mini test or a 50-question full practice exam with explanations.
Official source and current requirements Always verify the current syllabus, eligibility, timing and rules with the examination owner. View the official information source .
Frequently asked questions Are these official examination questions? No. Every question is independently written for educational practice and no affiliation or endorsement is implied.
Which practice mode should I use? Use the 20-question mini test for focused revision and the 50-question full test for longer practice. A practice score is not an official result.
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