Question23 The Council of Financial Regulators (CFR) in Australia includes: Select one alternative: A) RBA, APRA, ASIC, Treasury B) RBA, ASX, ACCC, ASIC C) APRA, ASIC, ASX, Treasury D) Treasury, ASIC, RBA, OAIC ResetMaximum marks: 1 Flag question undefinedSingle choice
A
A) RBA, APRA, ASIC, Treasury
B
B) RBA, ASX, ACCC, ASIC
C
C) APRA, ASIC, ASX, Treasury
D
D) Treasury, ASIC, RBA, OAIC

Question

Question23 The Council of Financial Regulators (CFR) in Australia includes: Select one alternative: A) RBA, APRA, ASIC, Treasury B) RBA, ASX, ACCC, ASIC C) APRA, ASIC, ASX, Treasury D) Treasury, ASIC, RBA, OAIC ResetMaximum marks: 1 Flag question undefinedSingle choice

A

A) RBA, APRA, ASIC, Treasury

B

B) RBA, ASX, ACCC, ASIC

C

C) APRA, ASIC, ASX, Treasury

D

D) Treasury, ASIC, RBA, OAIC

BlackTom AI · Accepted Answer

The question asks which groups constitute the Council of Financial Regulators (CFR) in Australia, and provides four options to choose from.
Option A: 'RBA, APRA, ASIC, Treasury' — This aligns with the CFR membership as commonly described: the Reserve Bank of Australia (RBA), the Australian Prudential Regulation Authority (APRA), the Australian Securities and Investments Commission (ASIC), and the Australian Treasury. This combination is consistent with the CFR’s purpose of coordinating financial regulation across major agencies.
Option B: 'RBA, ASX, ACCC, ASIC' — While these bodies play important roles in the financial system, the Australian Securities Exchange (ASX) and the Australian Competition and Consumer Commission (ACCC) are not listed as CFR members. The CFR is not defined to include ASX or ACCC in its core composition, so this option is incorrect.
Option C: 'APRA, ASIC, ASX, Treasury' — Although APRA, ASIC, and Treasury are relevant financial regulators, ASX is not a CFR member, and Treasury is typically included, but the omission of RBA from this set makes this option inaccurate with respect to the CFR's standard roster.
Option D: 'Treasury, ASIC, RBA, OAIC' — This includes Treasury, ASIC, and RBA, but OAIC (Office of the Australian Information Commissioner) is not part of the CFR. The absence of APRA in this option further undermines its correctness since APRA is a key CFR member.
In summary, Option A is the only choice that lists the four bodies commonly recognized as comprising the CFR (RBA, APRA, ASIC, Treasury). The other options mix in organizations that are not CFR members or omit a CFR member, making them incorrect.

Question23 The Council of Financial Regulators (CFR) in Australia includes: Select one alternative: A) RBA, APRA, ASIC, Treasury B) RBA, ASX, ACCC, ASIC C) APRA, ASIC, ASX, Treasury D) Treasury, ASIC, RBA, OAIC ResetMaximum marks: 1 Flag question undefinedSingle choice

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