QFA REGULATIONS 2026/2027
300 Original Practice Questions & Answers
Financial Services Regulation • Consumer Protection • Investment Intermediaries • MiFID • Conduct &
Prudential Regulation
QFA Regulations 2026/2027 • Page 1
,1. What is the correct term or concept for the following: The primary regulator of regulated financial
service providers in Ireland.?
Answer: Central Bank of Ireland
2. Complete the statement: The primary regulator of regulated financial service providers in Ireland. is
known as __________.
Answer: Central Bank of Ireland
3. What is the correct term or concept for the following: The Irish authority responsible for monetary
policy as part of the Eurosystem.?
A. Investment advice
B. Central Bank of Ireland
C. Advertising
D. To permit the intermediary to provide specified regulated services
Answer: Central Bank of Ireland
4. Complete the statement: The Irish authority responsible for monetary policy as part of the Eurosystem.
is known as __________.
Answer: Central Bank of Ireland
5. What is the correct term or concept for the following: The regulatory area concerned with how firms
deal with consumers.?
Answer: Consumer protection
6. Complete the statement: The regulatory area concerned with how firms deal with consumers. is known
as __________.
A. Risk management
B. The relevant statutory appeals body or tribunal
C. Consumer protection
D. Liquidity
Answer: Consumer protection
7. What is the correct term or concept for the following: The regulatory area concerned with the financial
soundness of firms.?
Answer: Prudential regulation
8. Complete the statement: The regulatory area concerned with the financial soundness of firms. is
known as __________.
Answer: Prudential regulation
9. What is the correct term or concept for the following: The regulatory area concerned with firms'
behaviour toward customers.?
A. Competition and consumer-protection functions within its remit
B. Guidance on Securing Customers' Interests
C. Customer-focused conduct
D. Conduct regulation
Answer: Conduct regulation
10. Complete the statement: The regulatory area concerned with firms' behaviour toward customers. is
known as __________.
QFA Regulations 2026/2027 • Page 2
,Answer: Conduct regulation
11. What is the correct term or concept for the following: The body concerned with competition and
consumer protection matters in Ireland.?
Answer: Competition and Consumer Protection Commission (CCPC)
12. Complete the statement: The body concerned with competition and consumer protection matters in
Ireland. is known as __________.
A. Competition and Consumer Protection Commission (CCPC)
B. Ownership and responsibility
C. Customer profile
D. Costs and charges disclosure
Answer: Competition and Consumer Protection Commission (CCPC)
13. What is the correct term or concept for the following: The legislation governing investment
intermediaries referred to in the supplied material.?
Answer: Investment Intermediaries Act 1995
14. Complete the statement: The legislation governing investment intermediaries referred to in the
supplied material. is known as __________.
Answer: Investment Intermediaries Act 1995
15. What is the correct term or concept for the following: The EU framework governing investment
services and activities commonly referred to as MiFID.?
A. Investment services and activities
B. Markets in Financial Instruments Directive (MiFID)
C. Cost transparency
D. Providing authorised investment services to clients
Answer: Markets in Financial Instruments Directive (MiFID)
16. Complete the statement: The EU framework governing investment services and activities commonly
referred to as MiFID. is known as __________.
Answer: Markets in Financial Instruments Directive (MiFID)
17. What is the correct term or concept for the following: The Irish regulations implementing MiFID II
requirements.?
Answer: European Union (Markets in Financial Instruments) Regulations 2017
18. Complete the statement: The Irish regulations implementing MiFID II requirements. is known
as__________.
A. Price, costs, speed, likelihood of execution and settlement, size and nature of the order B.
Segregation of duties
C. European Union (Markets in Financial Instruments) Regulations 2017
D. To establish a harmonised framework for investment services and investor protection
Answer: European Union (Markets in Financial Instruments) Regulations 2017
19. What is the correct term or concept for the following: The purpose of conduct regulation.?
Answer: To protect customers and promote proper standards of business conduct
20. Complete the statement: The purpose of conduct regulation. is known as __________.
QFA Regulations 2026/2027 • Page 3
, Answer: To protect customers and promote proper standards of business conduct
21. What is the correct term or concept for the following: The purpose of prudential regulation.?
A. To manage risk and support compliance
B. To protect customers and promote proper standards of business conduct
C. Inform customers effectively
D. To promote the financial soundness and resilience of regulated firms
Answer: To promote the financial soundness and resilience of regulated firms
22. Complete the statement: The purpose of prudential regulation. is known as __________.
Answer: To promote the financial soundness and resilience of regulated firms
23. What is the correct term or concept for the following: The purpose of consumer protection
regulation.?
Answer: To protect consumers when they use financial services
24. Complete the statement: The purpose of consumer protection regulation. is known as __________.
A. To protect consumers when they use financial services
B. Act with due skill, care and diligence
C. To avoid customers misunderstanding the protections that apply
D. Prudential regulation
Answer: To protect consumers when they use financial services
25. What is the correct term or concept for the following: The Central Bank code that modernised
consumer protection rules and took effect in March 2026.?
Answer: Consumer Protection Code 2025
QFA Regulations 2026/2027 • Page 4
300 Original Practice Questions & Answers
Financial Services Regulation • Consumer Protection • Investment Intermediaries • MiFID • Conduct &
Prudential Regulation
QFA Regulations 2026/2027 • Page 1
,1. What is the correct term or concept for the following: The primary regulator of regulated financial
service providers in Ireland.?
Answer: Central Bank of Ireland
2. Complete the statement: The primary regulator of regulated financial service providers in Ireland. is
known as __________.
Answer: Central Bank of Ireland
3. What is the correct term or concept for the following: The Irish authority responsible for monetary
policy as part of the Eurosystem.?
A. Investment advice
B. Central Bank of Ireland
C. Advertising
D. To permit the intermediary to provide specified regulated services
Answer: Central Bank of Ireland
4. Complete the statement: The Irish authority responsible for monetary policy as part of the Eurosystem.
is known as __________.
Answer: Central Bank of Ireland
5. What is the correct term or concept for the following: The regulatory area concerned with how firms
deal with consumers.?
Answer: Consumer protection
6. Complete the statement: The regulatory area concerned with how firms deal with consumers. is known
as __________.
A. Risk management
B. The relevant statutory appeals body or tribunal
C. Consumer protection
D. Liquidity
Answer: Consumer protection
7. What is the correct term or concept for the following: The regulatory area concerned with the financial
soundness of firms.?
Answer: Prudential regulation
8. Complete the statement: The regulatory area concerned with the financial soundness of firms. is
known as __________.
Answer: Prudential regulation
9. What is the correct term or concept for the following: The regulatory area concerned with firms'
behaviour toward customers.?
A. Competition and consumer-protection functions within its remit
B. Guidance on Securing Customers' Interests
C. Customer-focused conduct
D. Conduct regulation
Answer: Conduct regulation
10. Complete the statement: The regulatory area concerned with firms' behaviour toward customers. is
known as __________.
QFA Regulations 2026/2027 • Page 2
,Answer: Conduct regulation
11. What is the correct term or concept for the following: The body concerned with competition and
consumer protection matters in Ireland.?
Answer: Competition and Consumer Protection Commission (CCPC)
12. Complete the statement: The body concerned with competition and consumer protection matters in
Ireland. is known as __________.
A. Competition and Consumer Protection Commission (CCPC)
B. Ownership and responsibility
C. Customer profile
D. Costs and charges disclosure
Answer: Competition and Consumer Protection Commission (CCPC)
13. What is the correct term or concept for the following: The legislation governing investment
intermediaries referred to in the supplied material.?
Answer: Investment Intermediaries Act 1995
14. Complete the statement: The legislation governing investment intermediaries referred to in the
supplied material. is known as __________.
Answer: Investment Intermediaries Act 1995
15. What is the correct term or concept for the following: The EU framework governing investment
services and activities commonly referred to as MiFID.?
A. Investment services and activities
B. Markets in Financial Instruments Directive (MiFID)
C. Cost transparency
D. Providing authorised investment services to clients
Answer: Markets in Financial Instruments Directive (MiFID)
16. Complete the statement: The EU framework governing investment services and activities commonly
referred to as MiFID. is known as __________.
Answer: Markets in Financial Instruments Directive (MiFID)
17. What is the correct term or concept for the following: The Irish regulations implementing MiFID II
requirements.?
Answer: European Union (Markets in Financial Instruments) Regulations 2017
18. Complete the statement: The Irish regulations implementing MiFID II requirements. is known
as__________.
A. Price, costs, speed, likelihood of execution and settlement, size and nature of the order B.
Segregation of duties
C. European Union (Markets in Financial Instruments) Regulations 2017
D. To establish a harmonised framework for investment services and investor protection
Answer: European Union (Markets in Financial Instruments) Regulations 2017
19. What is the correct term or concept for the following: The purpose of conduct regulation.?
Answer: To protect customers and promote proper standards of business conduct
20. Complete the statement: The purpose of conduct regulation. is known as __________.
QFA Regulations 2026/2027 • Page 3
, Answer: To protect customers and promote proper standards of business conduct
21. What is the correct term or concept for the following: The purpose of prudential regulation.?
A. To manage risk and support compliance
B. To protect customers and promote proper standards of business conduct
C. Inform customers effectively
D. To promote the financial soundness and resilience of regulated firms
Answer: To promote the financial soundness and resilience of regulated firms
22. Complete the statement: The purpose of prudential regulation. is known as __________.
Answer: To promote the financial soundness and resilience of regulated firms
23. What is the correct term or concept for the following: The purpose of consumer protection
regulation.?
Answer: To protect consumers when they use financial services
24. Complete the statement: The purpose of consumer protection regulation. is known as __________.
A. To protect consumers when they use financial services
B. Act with due skill, care and diligence
C. To avoid customers misunderstanding the protections that apply
D. Prudential regulation
Answer: To protect consumers when they use financial services
25. What is the correct term or concept for the following: The Central Bank code that modernised
consumer protection rules and took effect in March 2026.?
Answer: Consumer Protection Code 2025
QFA Regulations 2026/2027 • Page 4
