Financial Services Practice Exam

About Financial Services

Financial services help with the making, investment and management of money for both people and organisations; for example, trading shares in the stock market, or helping people put money away for a rainy day.

Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers, and some government-sponsored enterprises.

Financial services are the processes by which consumers or businesses acquire financial goods. For example, a payment system provider offers a financial service when it accepts and transfers funds between payers and recipients. This includes accounts settled through credit and debit cards, checks, and electronic funds transfers. Companies in the financial services industry manage money.

Financial Services has gained immense popularity across the globe resulting in huge demand for certified professionals.

Why is Financial Services important?
Financial Services are important for a country and economy as it provides
•    Facilitates Transactions: Financial services facilitate the smooth functioning of transactions in an economy. Various financial instruments such as debit cards, credit cards, cheque, bill of exchanges and many more assist people in doing payments.
•    Ensures liquidity: These services ensure proper liquidity by facilitating free movement of funds among people. Financial services enable people to easily acquire the required funds through credit cards or loan facilities.
•    Mobilizes Savings: Mobilization of people’s savings is another important role played by financial services. It brings together those who have excess ideal lying resources and one who are in need of funds for investing into productive means.
•    Risk Minimization: Financial services reduce the effect of risk to customers through diversification. Insurance policies offered by companies provide protection to people against various losses.

•    Allocates Capital Funds: It enables people to allocate their fund into efficient sources. Financial services provide various investment options to customers like mutual funds, stocks, saving and fixed deposits which can generate income for them.
•    Generates Employment: Financial services helps in creating more employment opportunities in a country. There are large numbers of people who are associated with financial institutions selling these services. Such institutions via selling financial services generate their income and pay remuneration to their employees.
•    Economic Growth: These services enable the overall development of all sectors of the economy. Financial services provide sufficient funds to all key sectors that are a primary sector, secondary sector and tertiary sector. It results in a balanced growth of the whole economy.

Certified Financial Services professionals, executives and managers are in high demand in companies across the globe.

Important Concepts for Financial Services Practice Exam

• Understanding service products, consumers and markets
• Financial Institutions and Services
• Financial Management of Commercial Banks
• Development Banks
• Financial Planning & Financial Institutions
• International Aspects of Financial Institutions

Who should take the Financial Services Exam?
•    Finance professionals
•    Entrepreneurs or Innovators
•    Anyone who wants to assess their finance skills
•    Finance managers and senior executives engaged in financial services
•    Professionals working in outsourced companies responsible for financial services
•    Anyone interested in financial services
•    Students

Financial Services Practice Exam Objectives

Financial Services exam focuses on assessing your skills and knowledge of financial services.

Financial Services Practice Exam Pre-requisite

There are no prerequisites for the Financial Services exam. Candidate should be well versed  in various financial services to clear the exam.

Financial Services Certification Course Outline
1. Understanding service products, consumers and markets
1.1 An introduction to service marketing
1.2 Consumer behavior
1.3 Positioning services in competitive markets

2. Elements of service marketing
2.1 Creating the service product
2.2 Designing the communication mix for services
2.3 Pricing and revenue management
2.4 Distributing services

3. Managing the service delivery process
3.1 Designing and managing service processes
3.2 Balancing demand and capacity
3.3 Planning the service environment
3.4 Managing people for service advantage

4. Implementing service marketing
4.1 Managing relationships and building loyalty
4.2 Consumer feedback and service recovery
4.3 Improving service quality and productivity
4.4 Organizing for service leadership

5. Role of Financial Institutions and Services

6. Financial Management Models & Their Application in Financial Institutions

7. Evaluating Risks & Returns of Assets & Liabilities of Financial Institutions

8. Flow of Fund Analysis of the Borrowing lending behavior, interest rates analysis, interest rates,  Yield curve, risk & inflation

9. Financial Management of Commercial Banks

10. Development Banks

11. Financial Planning & Financial Institutions

12. International Aspects of Financial Institutions


Exam Format and Information
Certification name – Financial Services Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199