CEMAP unit 2 mock 1

50問 • 1年前

問題一覧

The FCA handbook consists mainly of “rules” and “guidance”. Members must:

be bound by the rules and take the “guidance” as advice

which of the following is NOT one of the main areas in which the financial conduct authority intends to reduce financial crime?

share price reductions

under the FCA client categories, which of the following is least likely to be categorised as being an eligible counterparty?

an institutional investor

which of the following bank employees would not normally require direct FCA approval?

a branch cashier

Sam had been encouraged to take “basic advice” as she is not financially astute. However, a friend has suggested that she receives full advice because:

a more detailed needs assessment would take place

in relation to how a firm deals with its regulator, which one of the following is NOT defined within the Principles of Business? A firm must:

disclose data on a regular basis to its regulator

when MUST the initial disclosure document be provided by an advisor?

at the start of the first meeting with a prospective client

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

cancellation notice

which type of FCA regulation is Treating Customers Fairly (TCF) an example of?

principles based

the performance of the FCA in regulating the industry is judged against?

a number of operational objectives

which one of the following areas is NOT specifically covered by the “Training and Competence” requirements?

business production levels

what is the latest date, if any, that the suitability letter can be sent to a customer looking to take out a life assurance policy?

before the start of the contract

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

a telephone conversation

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

a suitable product from an appropriate provider

which of the following is not covered by the FCA’s principles for business?

guidelines on financial promotions

when setting up a policy to provide legal expenses cover, the advisor is operating to rules issued by the:

financial conduct authotity

which of these FALSE of complaints referred to an ombudsman?

the company will often take the matter to court following the ombudsman’s ruling

Paul was prosecuted under the proceeds of crime act 2002 and received the maximum sentence of fourteen years and a fine. which of the following is he most unlikely of him being found guilty of?

tipping off

the financial conduct authority has a range of enforcement powers. Which of these is not a commonly recognised enforcement power?

imprisonment

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

indefinitely

during 2022, an individual sustained a loss of £105,000 following the insolvency of an authorised investment firm. What is the MAXIMUM claim under the financial services compensation scheme?

£85,000

which one of the following facts MUST be included on all regulated quotations as a result of the consumer credit acts 1974 and 2006?

the annual percentage rate

to which of the following will the provisions of MiFID always apply

a firm that under underwrites any of the specified instruments

since April 2014, consumer credit regulation has now been taken over by which of these regulatory bodies?

the FCA

which oversight group would be most likely to review a financial institution’s published financial statements and accounts?

external auditors

maintaining competition in the UK financial system is an operational objective of the:

financial conduct authority

which of the following figures is used to calculate the amount of capital that firms have to set aside to cover the possibility of business failure due to operational risk

0.15

Jenny has just joined an investment firm and has been assessed as competent by her new employer l. her new employer will also be required to:

check that competence is maintained

a number of particular advantages were identified in the stakeholder suite of products. Which of the following was not specifically identified?

larger average investments

under the rules relating to approved persons, in which function would the money laundering reporting officer be categorised?

senior management function

which compliance health warning must appear on all advertising material containing details of past investment performance? past performance:

is not necessarily a guide to future performance

which one of the following is NOT an operational objective of the financial conduct authority?

controlling interest rates

treating customers fairly ( TCF) is designed to produce improved service outcomes for:

consumers

how does the use of specialists within within a firm impact on their status as independent advisers?

within a firm, a specialist may claim to offer independent advice provided that he or she can meet the independence rule in every personal recommendation that he or she provides

the FCA require certain rules to be adhered to in relation to financial promotions. which statement is specifically true in relation to these rules?

for retail customers, the financial promotion must be clear, fair and not misleading

under the rules for investment advisors, advisers must disclose that they are either:

independent or restricted

in relation to “suitable advice” which one of the following is a minimum requirement of a restricted advisor?

ensuring that the product recommended fits the clients needs

a mortgage advisor must disclose within the initial disclosure document, which of following?

the authorisation status of the firm and advisor

when is it necessary to give a customer a client agreement

if the transaction is likely to involve designated investments

according to the conduct of business rules laid down by the financial conduct authority, it is necessary to keep adequate records of all dealings with customers. which one of the following is NOT a reason for this requirement?

to verify commission income

which if these best fits the description of a professional customer?

an authorised investment firm seeking advice and recommendation from a financial adviser

what is the effect of the final response letter for a customer who is in the process of making a complaint about a financial services product he has bought?

the can now take the complaint to the financial ombudsman

Giles has advised Malcolm regarding setting up his free standing AVC plan. For how long minimum must Giles keep Malcom’s factfind details?

indefinitely

the pensions ombudsman handles complaints about:

the administration of occupational pension schemes

which one of the following is exempt from the consumer credit acts?

a further advance of £15,000 for house repairs

the financial services compensation scheme will pay out compensation to customers who have:

lost money through the insolvency of an authorised firm

when carrying out an “execution only” sale, responsibility for the transaction rests with the:

customer

joe runs his own multi tied advisor firm and wishes to create his own fact find form. under what circumstances is this permitted?

joe is free to prepare his own document

which source book provides details of complaints procedures and external dispute resolution?

redress

a client has an unresolved complaint about the endowment policy linked to his mortgage. he should take his complaint to the:

financial ombudsman service

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 2

CEMAP unit 2 mock 2

CEMAP unit 2 mock 3

CEMAP unit 2 mock 3

問題一覧

The FCA handbook consists mainly of “rules” and “guidance”. Members must:

be bound by the rules and take the “guidance” as advice

which of the following is NOT one of the main areas in which the financial conduct authority intends to reduce financial crime?

share price reductions

under the FCA client categories, which of the following is least likely to be categorised as being an eligible counterparty?

an institutional investor

which of the following bank employees would not normally require direct FCA approval?

a branch cashier

Sam had been encouraged to take “basic advice” as she is not financially astute. However, a friend has suggested that she receives full advice because:

a more detailed needs assessment would take place

in relation to how a firm deals with its regulator, which one of the following is NOT defined within the Principles of Business? A firm must:

disclose data on a regular basis to its regulator

when MUST the initial disclosure document be provided by an advisor?

at the start of the first meeting with a prospective client

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

cancellation notice

which type of FCA regulation is Treating Customers Fairly (TCF) an example of?

principles based

the performance of the FCA in regulating the industry is judged against?

a number of operational objectives

which one of the following areas is NOT specifically covered by the “Training and Competence” requirements?

business production levels

what is the latest date, if any, that the suitability letter can be sent to a customer looking to take out a life assurance policy?

before the start of the contract

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

a telephone conversation

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

a suitable product from an appropriate provider

which of the following is not covered by the FCA’s principles for business?

guidelines on financial promotions

when setting up a policy to provide legal expenses cover, the advisor is operating to rules issued by the:

financial conduct authotity

which of these FALSE of complaints referred to an ombudsman?

the company will often take the matter to court following the ombudsman’s ruling

Paul was prosecuted under the proceeds of crime act 2002 and received the maximum sentence of fourteen years and a fine. which of the following is he most unlikely of him being found guilty of?

tipping off

the financial conduct authority has a range of enforcement powers. Which of these is not a commonly recognised enforcement power?

imprisonment

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

indefinitely

during 2022, an individual sustained a loss of £105,000 following the insolvency of an authorised investment firm. What is the MAXIMUM claim under the financial services compensation scheme?

£85,000

which one of the following facts MUST be included on all regulated quotations as a result of the consumer credit acts 1974 and 2006?

the annual percentage rate

to which of the following will the provisions of MiFID always apply

a firm that under underwrites any of the specified instruments

since April 2014, consumer credit regulation has now been taken over by which of these regulatory bodies?

the FCA

which oversight group would be most likely to review a financial institution’s published financial statements and accounts?

external auditors

maintaining competition in the UK financial system is an operational objective of the:

financial conduct authority

which of the following figures is used to calculate the amount of capital that firms have to set aside to cover the possibility of business failure due to operational risk

0.15

Jenny has just joined an investment firm and has been assessed as competent by her new employer l. her new employer will also be required to:

check that competence is maintained

a number of particular advantages were identified in the stakeholder suite of products. Which of the following was not specifically identified?

larger average investments

under the rules relating to approved persons, in which function would the money laundering reporting officer be categorised?

senior management function

which compliance health warning must appear on all advertising material containing details of past investment performance? past performance:

is not necessarily a guide to future performance

which one of the following is NOT an operational objective of the financial conduct authority?

controlling interest rates

treating customers fairly ( TCF) is designed to produce improved service outcomes for:

consumers

how does the use of specialists within within a firm impact on their status as independent advisers?

within a firm, a specialist may claim to offer independent advice provided that he or she can meet the independence rule in every personal recommendation that he or she provides

the FCA require certain rules to be adhered to in relation to financial promotions. which statement is specifically true in relation to these rules?

for retail customers, the financial promotion must be clear, fair and not misleading

under the rules for investment advisors, advisers must disclose that they are either:

independent or restricted

in relation to “suitable advice” which one of the following is a minimum requirement of a restricted advisor?

ensuring that the product recommended fits the clients needs

a mortgage advisor must disclose within the initial disclosure document, which of following?

the authorisation status of the firm and advisor

when is it necessary to give a customer a client agreement

if the transaction is likely to involve designated investments

to verify commission income

which if these best fits the description of a professional customer?

an authorised investment firm seeking advice and recommendation from a financial adviser

what is the effect of the final response letter for a customer who is in the process of making a complaint about a financial services product he has bought?

the can now take the complaint to the financial ombudsman

Giles has advised Malcolm regarding setting up his free standing AVC plan. For how long minimum must Giles keep Malcom’s factfind details?

indefinitely

the pensions ombudsman handles complaints about:

the administration of occupational pension schemes

which one of the following is exempt from the consumer credit acts?

a further advance of £15,000 for house repairs

the financial services compensation scheme will pay out compensation to customers who have:

lost money through the insolvency of an authorised firm

when carrying out an “execution only” sale, responsibility for the transaction rests with the:

customer

joe runs his own multi tied advisor firm and wishes to create his own fact find form. under what circumstances is this permitted?

joe is free to prepare his own document

which source book provides details of complaints procedures and external dispute resolution?

redress

a client has an unresolved complaint about the endowment policy linked to his mortgage. he should take his complaint to the:

financial ombudsman service