Mifi 431:Micro-Finance Control System Question Paper
Mifi 431:Micro-Finance Control System
Course:Business Administration
Institution: Kenya Methodist University question papers
Exam Year:2014
KENYA METHODIST UNIVERSITY
END OF 3''RD ''TRIMESTER 2014 (PT) EXAMINATION
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : ACCOUNTING, FINANCE & INVESTMENT
UNIT CODE : MIFI 431
UNIT TITLE : MICRO-FINANCE CONTROL SYSTEM
TIME: 2 HOURS
INSTRUCTIONS
Question One is Compulsory
Answer any other Two
Question One
Differentiate between Micro-finance and Micro-credit.
(4 Mks)
Define Management Information System (MIS) and how they help in internal controls of MIFI’s.
(4 Mks)
State five external risks encountered in MIFI’s risk management. (5 Mks)
Identify challenges faced by a external auditors when auditing a Micro-finance institution.
(6 Mks)
Mention services offered by MIFI’s in Kenya.
(6 Mks)
Outline five features of an effective control system of MIFI’s.
(5 Mks)
Question Two
Discuss the procedures followed in loan disbursement in a Micro-Finance institution.
(10 Mks)
Explain five financial risk encountered in the operation of MIFI’s in Kenya.
(10 Mks)
Question Three
Explain the process of risk management in a microfinance institution.
(10 Mks)
Explain challenges faced by MIFI’s in implementing management information systems (MIS).
(10 Mks)
Question Four
Explain the role of the government in operation of MIFI’s.
(10 Mks)
Explain the benefits accruing to microfinance that regularly audits its operations.
(10 Mks)
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