CEMAP unit 2 mock 2

50問 • 1年前

問題一覧

the financial action task force (FATF) specifically transfers law enforcement activities to:

the national crime agency

for at least how long MUST customer records concerning stakeholder pension scheme members be retained by a life office?

5 years

a customer ended his relationship with a lender 2 years and 6 months ago. for a minimum of how many more months should the evidence of identification be retained by the lender?

30 months

Jeremy and Sandra have an interest only mortgage and have received written advice to check the performance of their repayment vehicle. under the MCOB rules, this has most likely to have been issued by:

the lender

in terms of “knowing your customer”, which of these is most likely to be a professional customer?

a firm in financial services seeking advice and a recommendation

Hayley works for complete investments plc, where she offers investment advice for a MiFID firm. when is the earliest date that Complete Insurance is permitted to destroy factfind information?

after 5 years

Tom is applying to to be the new Cheif Executive Officer in an authorised firm that is solely FCA regulated. which of these statements is true?

he must be individually vetted by the FCA

which of the following is most likely to be in evidence, for insider dealing to take place?

a person having access to restricted information

when MUST the client agreement be provided by an investment advisor?

before introducing the fact find

which document is sent to a client advising them of their right to change their mind?

cancellation notice

since April 2014, who is responsible for considering any complaint brought about because of potential breaches of the rules in relation to consumer credit contracts?

financial conduct authority

mortgage advice Ltd have found that their primary method of obtaining new business is not permitted under FCA rules. this means that they must have been using which of the following methods?

cold calling

the purpose of the fact find is to:

give a complete picture of the clients personal and financial circumstances

what is the latest date, if any, that mortgage suitability letter can be sent to a customer?

there is no requirement for suitability letters for mortgages

which of the following is an example of a type of real time financial promotion?

a personal visit

which of the following accurately relates to the advice that MUST be given by independent intermediaries?

a suitable product from an appropriate provider

which one of the following is NOT a tool to open the FCA in setting and enforcing stardsrds for organisations and individuals?

compensation

when setting up a buildings insurance policy, the advisor is operating the rules issued by the:

FCA

a bsnks cspitsl as a proportion of its risk weighted assets is referred to as the:

solvency ratio

jack has just received a final response letter from his insurance provider. what significance does it have?

jack can now take the complaint to the financial ombudsman service

the financial conduct authority has indetified three operational objectives as part of its role as the new regulator. which of these is not an operational objective?

reduce financial crime

for how many years after an employee has left a firm, minimum, must training and competence records be kept?

during 2020, an individual sustained a loss of £38,000 following the insolvency of an authorised investment firm. what is his MAXIMUM claim under the financial services compensation scheme?

£38,000

which one of the following is true in respect of a firms responsibilities under the money laundering regulations? a firm must:

report suspicious circumstances

which of the following is not a senior management function requiring FCA approval?

complaints manager

what is the minimum period for which records in respect of pension transfers must be kept?

indefinitely

a mortgage lender has to write to a borrower who is in arrears within how many days of becoming aware of the missed payment?

15 working days

investment business is being transacted by an independent financial adviser with a client. in these circumstances who is responsible for presenting a key feature’s document to the client?

adviser

the financial conduct authority exists to:

set and monitor adherence to rules for the regulation of banking and investment business

the FCA handbook contains a section called specialised sourcebook. which one of the would need to refer to this section?

a firm of solicitors

regulations require that advice given to a customer by a financial adviser MUST be in the best interests of the customer, based on the customers particular circumstances. since December 2001, this has been commonly referred as:

suitable advice

an independent financial adviser must select both a suitable product and its provider. which one of the following matters does NOT need to be considered in selecting the provider?

the advisors fee

a customer cancels a £120,000 unit linked single premium investment bond within the cooling off period. however, during this period, the stock market fell sharply. consequently, so did the value of the bond. what is the customer likely to receive?

£120,000 less a market adjustment, if specified in the terms and conditions

what does “execution only” transaction require an advisor to do?

to carry out the instructions given by the client

why might money laundering regulations create “financial exclusion”?

because not everyone can provide the necessary identification

mortgage advisors are permitted to operate in one of three categories. which one of the following is the exemption?

multi market advisors

regulations established under the financial services and markets act 2000 require firms to make a commitment to try and resolve complaints within

8 weeks

during 2022, a customers £5,000 deposit account was lost when a bank collapsed. how much could he claim from the financial service’s compensation scheme?

£5,000

if a customer decides that they want to cancel their general insurance contract within the cooling off period, they must do so within

14 days

the frequency of compliance visits by the FCA to a firm depends on a number of factors. which if these would least likely be taken into account?

the types of product offered

in relation to the general data protection regulations (GDPR) , which one of the following is INCORRECT

It applies to records only held on a computer

pension deductions from employees must be paid to the pension scheme by which date in the month following deduction?

19th

which regulator regulates the financial stability of deposit taking and related activities

prudential regulatory authority

Ivor deliberately leaked an incorrect story that his bank were sustaining significant losses due to credit problems and then made a profit through dealing. This is an example of:

market manipulation

which one of the following organisations responsibleities were taken over by the regulator with effect from 31st October 2004?

the mortgage code compliance board

what do financial services firms need before they can carry out regulated activities?

permission

which one of the following is NOT covered by the financial conduct authority’s principles for business

guidelines on training

which one of the following contained within the FCA handbook is binding on authorised firms?

rules

under the “know your customer requirements” advisors should:

provide the highest level of advice and duty of care to clients categorised as retail customers

under the new rules, independent financial advisers:

can advise on products across the entire market

CEMAP unit 1 mock 1

CEMAP unit 1 mock 1

CEMAP unit 1 mock 2

CEMAP unit 1 mock 2

CEMAP unit 1 mock 3

CEMAP unit 1 mock 3

CEMAP unit 2 mock 1

CEMAP unit 2 mock 1

CEMAP unit 2 mock 3

CEMAP unit 2 mock 3

問題一覧

the financial action task force (FATF) specifically transfers law enforcement activities to:

the national crime agency

for at least how long MUST customer records concerning stakeholder pension scheme members be retained by a life office?

5 years

a customer ended his relationship with a lender 2 years and 6 months ago. for a minimum of how many more months should the evidence of identification be retained by the lender?

30 months

the lender

in terms of “knowing your customer”, which of these is most likely to be a professional customer?

a firm in financial services seeking advice and a recommendation

Hayley works for complete investments plc, where she offers investment advice for a MiFID firm. when is the earliest date that Complete Insurance is permitted to destroy factfind information?

after 5 years

Tom is applying to to be the new Cheif Executive Officer in an authorised firm that is solely FCA regulated. which of these statements is true?

he must be individually vetted by the FCA

which of the following is most likely to be in evidence, for insider dealing to take place?

a person having access to restricted information

when MUST the client agreement be provided by an investment advisor?

before introducing the fact find

which document is sent to a client advising them of their right to change their mind?

cancellation notice

since April 2014, who is responsible for considering any complaint brought about because of potential breaches of the rules in relation to consumer credit contracts?

financial conduct authority

mortgage advice Ltd have found that their primary method of obtaining new business is not permitted under FCA rules. this means that they must have been using which of the following methods?

cold calling

the purpose of the fact find is to:

give a complete picture of the clients personal and financial circumstances

what is the latest date, if any, that mortgage suitability letter can be sent to a customer?

there is no requirement for suitability letters for mortgages

which of the following is an example of a type of real time financial promotion?

a personal visit

which of the following accurately relates to the advice that MUST be given by independent intermediaries?

a suitable product from an appropriate provider

which one of the following is NOT a tool to open the FCA in setting and enforcing stardsrds for organisations and individuals?

compensation

when setting up a buildings insurance policy, the advisor is operating the rules issued by the:

FCA

a bsnks cspitsl as a proportion of its risk weighted assets is referred to as the:

solvency ratio

jack has just received a final response letter from his insurance provider. what significance does it have?

jack can now take the complaint to the financial ombudsman service

the financial conduct authority has indetified three operational objectives as part of its role as the new regulator. which of these is not an operational objective?

reduce financial crime

for how many years after an employee has left a firm, minimum, must training and competence records be kept?

during 2020, an individual sustained a loss of £38,000 following the insolvency of an authorised investment firm. what is his MAXIMUM claim under the financial services compensation scheme?

£38,000

which one of the following is true in respect of a firms responsibilities under the money laundering regulations? a firm must:

report suspicious circumstances

which of the following is not a senior management function requiring FCA approval?

complaints manager

what is the minimum period for which records in respect of pension transfers must be kept?

indefinitely

a mortgage lender has to write to a borrower who is in arrears within how many days of becoming aware of the missed payment?

15 working days

investment business is being transacted by an independent financial adviser with a client. in these circumstances who is responsible for presenting a key feature’s document to the client?

adviser

the financial conduct authority exists to:

set and monitor adherence to rules for the regulation of banking and investment business

the FCA handbook contains a section called specialised sourcebook. which one of the would need to refer to this section?

a firm of solicitors

suitable advice

an independent financial adviser must select both a suitable product and its provider. which one of the following matters does NOT need to be considered in selecting the provider?

the advisors fee

£120,000 less a market adjustment, if specified in the terms and conditions

what does “execution only” transaction require an advisor to do?

to carry out the instructions given by the client

why might money laundering regulations create “financial exclusion”?

because not everyone can provide the necessary identification

mortgage advisors are permitted to operate in one of three categories. which one of the following is the exemption?

multi market advisors

regulations established under the financial services and markets act 2000 require firms to make a commitment to try and resolve complaints within

8 weeks

during 2022, a customers £5,000 deposit account was lost when a bank collapsed. how much could he claim from the financial service’s compensation scheme?

£5,000

if a customer decides that they want to cancel their general insurance contract within the cooling off period, they must do so within

14 days

the frequency of compliance visits by the FCA to a firm depends on a number of factors. which if these would least likely be taken into account?

the types of product offered

in relation to the general data protection regulations (GDPR) , which one of the following is INCORRECT

It applies to records only held on a computer

pension deductions from employees must be paid to the pension scheme by which date in the month following deduction?

19th

which regulator regulates the financial stability of deposit taking and related activities

prudential regulatory authority

Ivor deliberately leaked an incorrect story that his bank were sustaining significant losses due to credit problems and then made a profit through dealing. This is an example of:

market manipulation

which one of the following organisations responsibleities were taken over by the regulator with effect from 31st October 2004?

the mortgage code compliance board

what do financial services firms need before they can carry out regulated activities?

permission

which one of the following is NOT covered by the financial conduct authority’s principles for business

guidelines on training

which one of the following contained within the FCA handbook is binding on authorised firms?

rules

under the “know your customer requirements” advisors should:

provide the highest level of advice and duty of care to clients categorised as retail customers

under the new rules, independent financial advisers:

can advise on products across the entire market