| 1.
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Describe the function of financial intermediaries and how credit
unions fit into the financial system; identify the sources and uses of
funds. (I)
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| 2.
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Define the risks that can affect a credit union's financial position,
identify the need for a business plan, and describe the major elements
of a funds management policy. (II)
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| 3.
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Analyze a credit union's financial statements, interpret operating
ratios and trends; explain how they are used in establishing short-
and long-term goals. (III)
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| 4.
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Explain the purpose of capital, determine capital adequacy, and
describe a strategy for increasing capital. (IV)
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| 5.
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Describe the budget process, and explain the advantages of
establishing an annual business plan. (V)
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| 6.
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Describe GAP (General Accounting Principles) analysis, the SLY (Safety
Liquidity Yield) principle, the concept of matching, and approved
investment securities. (VI)
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| 7.
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Explain the effect of lending and collection policies on financial
performance and considerations of starting a variable-rate loan
program. (VII)
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| 8.
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Define liquidity and describe the importance of maintaining cash flow
levels and the effect the economy has on a credit union's business
cycle. (VIII)
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| 9.
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Identify the purpose and methods of pricing member services. (IX)
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| 10.
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Identify and describe the types of credit union risk; and describe the
elements of internal control, the role of the supervisory committee,
and importance of an annual audit. (X)
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| 11.
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Describe the function, and list the types of services offered by the
corporate credit union network. (XI)
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