QFA REGS SAMPLE PAPER 2 EXAM (2026/2027)
QUESTIONS AND CORRECT ANSWERS GRADED
A+
The Central Bank's Consumer Protection Code is an example of which type of
regulation?
A Prudential.
B Systemic.
C Conduct of Business.
D Structural.
C
1.2.4
The Central Bank does NOT authorise and regulate which one of the following
established in the State?
A Credit institutions.
B Debt management firms.
C Credit intermediaries.
D Retail credit firms.
C
1.3.1
,The MAXIMUM fine which the Central Bank can impose on ABC Investment
Advisers Ltd, an investment intermediary, for non- compliance with financial
services regulations, is:
A €1 million.
B the greater of €2 million and 5% of annual
turnover.
C the greater of €5 million and 10% of annual turnover.
D the greater of €10 million and 10% of annual turnover.
D
1.3.3
Most authorised credit intermediaries are
A mortgage intermediaries.
B garages offering loans and leasing.
C insurance intermediaries.
D credit card providers.
B
1.4.4
,The regulation of unfair, misleading or aggressive commercial practices by
financial services firms is shared between which two institutions?
A The Competition and Consumer Protection Commission and the Director of
Corporate Enforcement.
B The Central Bank and the Department of Finance.
C The Director of Corporate Enforcement and the Central Bank.
D The Competition and Consumer Protection Commission and the Central Bank.
D
1.4.1
ABC Bank plc is established in Germany. It transacts banking business in the
Republic of Ireland on a cross-border basis. Being able to provide financial
services in this manner to consumers in other EU countries is referred to as:
A passporting.
B subrogation.
C migration.
D the common good.
A
1.2.1
In relation to a financial services firm established in an EU country, the term
'freedom of establishment' means being able to:
, A set up a branch in another EU country.
B provide any type of financial service the firm wishes to provide, without
requiring any fresh authorisation.
C charge different levels of charges to different consumers, without requiring
authorisation to do so.
D provide financial services to consumers in another EU country on a cross-border
basis.
A
1.2.1
Regulation of the continuing solvency and liquidity of established financial
services firms is known as which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business.
C
1.2.3
Credit intermediaries are authorised by the:
A Competition and Consumer Protection
Commission.
QUESTIONS AND CORRECT ANSWERS GRADED
A+
The Central Bank's Consumer Protection Code is an example of which type of
regulation?
A Prudential.
B Systemic.
C Conduct of Business.
D Structural.
C
1.2.4
The Central Bank does NOT authorise and regulate which one of the following
established in the State?
A Credit institutions.
B Debt management firms.
C Credit intermediaries.
D Retail credit firms.
C
1.3.1
,The MAXIMUM fine which the Central Bank can impose on ABC Investment
Advisers Ltd, an investment intermediary, for non- compliance with financial
services regulations, is:
A €1 million.
B the greater of €2 million and 5% of annual
turnover.
C the greater of €5 million and 10% of annual turnover.
D the greater of €10 million and 10% of annual turnover.
D
1.3.3
Most authorised credit intermediaries are
A mortgage intermediaries.
B garages offering loans and leasing.
C insurance intermediaries.
D credit card providers.
B
1.4.4
,The regulation of unfair, misleading or aggressive commercial practices by
financial services firms is shared between which two institutions?
A The Competition and Consumer Protection Commission and the Director of
Corporate Enforcement.
B The Central Bank and the Department of Finance.
C The Director of Corporate Enforcement and the Central Bank.
D The Competition and Consumer Protection Commission and the Central Bank.
D
1.4.1
ABC Bank plc is established in Germany. It transacts banking business in the
Republic of Ireland on a cross-border basis. Being able to provide financial
services in this manner to consumers in other EU countries is referred to as:
A passporting.
B subrogation.
C migration.
D the common good.
A
1.2.1
In relation to a financial services firm established in an EU country, the term
'freedom of establishment' means being able to:
, A set up a branch in another EU country.
B provide any type of financial service the firm wishes to provide, without
requiring any fresh authorisation.
C charge different levels of charges to different consumers, without requiring
authorisation to do so.
D provide financial services to consumers in another EU country on a cross-border
basis.
A
1.2.1
Regulation of the continuing solvency and liquidity of established financial
services firms is known as which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business.
C
1.2.3
Credit intermediaries are authorised by the:
A Competition and Consumer Protection
Commission.
