QFA REGULATIONS EXAM 2026/2027 210 EXAM QUESTIONS & 100% CORRECT ANSWERS

QFA REGULATIONS EXAM 2026/2027 210 EXAM
QUESTIONS & 100% CORRECT ANSWERS



SECTION 1 — REGULATORY FRAMEWORK
1. Which body is the principal regulator of financial services firms in
Ireland?
A. Revenue Commissioners
B. Central Bank of Ireland
C. CCPC
D. FSPO
Answer: B — Central Bank of Ireland
2. What is the primary purpose of financial regulation?
A. To increase bank profits
B. To eliminate all investment risk
C. To protect consumers and promote a stable financial system
D. To guarantee investment returns
Answer: C — To protect consumers and promote a stable financial
system
3. What does CCPC stand for?
A. Central Consumer Protection Council
B. Competition and Consumer Protection Commission
C. Consumer Credit Protection Commission
D. Competition and Central Payments Commission
Answer: B — Competition and Consumer Protection Commission

,4. Which organisation has responsibility for prudential supervision of
regulated financial firms in Ireland?
A. Central Bank of Ireland
B. CCPC
C. Revenue
D. FSPO
Answer: A — Central Bank of Ireland
5. Which body is primarily concerned with competition and consumer
protection generally?
A. Central Bank
B. CCPC
C. European Central Bank only
D. Revenue
Answer: B — CCPC
6. What is the purpose of a regulatory framework?
A. To remove the need for professional judgment
B. To establish rules and standards for financial-market participants
C. To guarantee profits
D. To prevent consumers from changing providers
Answer: B — To establish rules and standards for financial-market
participants
7. Which institution is Ireland's central bank?
A. Bank of Ireland
B. AIB
C. Central Bank of Ireland
D. European Commission
Answer: C — Central Bank of Ireland

,8. Which organisation is responsible for monetary policy for the euro
area?
A. CCPC
B. ECB/Eurosystem
C. FSPO
D. Revenue
Answer: B — ECB/Eurosystem
9. Financial regulation generally seeks to promote which combination?
A. Consumer protection, market integrity and financial stability
B. Higher commissions only
C. Guaranteed investment returns
D. Lower taxation only
Answer: A — Consumer protection, market integrity and financial
stability
10. Why is regulatory compliance important for a financial adviser?
A. It is optional if the client is wealthy
B. It helps ensure lawful and appropriate conduct
C. It guarantees sales
D. It eliminates market risk
Answer: B — It helps ensure lawful and appropriate conduct


SECTION 2 — CENTRAL BANK OF IRELAND
11. Which body authorises and supervises many regulated financial
service providers in Ireland?
A. CCPC
B. Central Bank of Ireland
C. FSPO

, D. Revenue
Answer: B — Central Bank of Ireland
12. The Central Bank can investigate suspected regulatory breaches.
A. True
B. False
C. Only with consumer permission
D. Only if a court orders it
Answer: A — True
13. Which of the following is an investigative power of the Central
Bank?
A. Compelling production of documents
B. Setting income tax rates
C. Setting mortgage rates for every bank
D. Guaranteeing investments
Answer: A — Compelling production of documents
14. The Central Bank may conduct what type of inspection?
A. On-site inspection
B. Tax inspection only
C. Criminal sentencing inspection
D. Parliamentary inspection
Answer: A — On-site inspection
15. What is PRISM associated with?
A. Risk-based supervision
B. Income tax collection
C. Pension taxation
D. Consumer lending rates
Answer: A — Risk-based supervision