IFoA SP10 Practice Questions - IFoA SP10 Banking Specialist Principles Exam

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Under IFRS 9, a performing loan with no significant increase in credit risk since origination is classified in which stage, and what ECL is recognised?

Stage 3, with lifetime ECL and interest on net carrying amount Stage 1, with 12-month ECL and interest on gross carrying amount Stage 2, with lifetime ECL and interest on gross carrying amount Stage 1, with lifetime ECL and interest on net carrying amount

Correct Answer:

Stage 1, with 12-month ECL and interest on gross carrying amount

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