QFA
QFA REGULATION - SAMPLE PAPER 1 EXAM GRADED A+
The primary objective of structural regulation of financial
services firms is to:
A minimise risks to the financial system.
B ensure financial services providers remain solvent at all times.
C ensure only those with sufficient financial standing and
integrity can become financial services firms.
D enforce compliance by financial services providers with
consumer law. - correct answer C
1.2.1
In relation to a financial services firm established in an EU
country, the term 'freedom of services' means being able to:
A set up a branch in another EU country.
,QFA
B provide any type of financial service the firm wishes to
provide, without requiring any fresh authorisation.
C charge different levels of fees to different consumers, without
requiring authorisation to do so.
D provide financial services to consumers in another EU country
on a cross border basis. - correct answer D
1.2.1
A life assurance company established in Germany sells policies
to residents of the Republic of Ireland. Who regulates the
solvency of this life company?
A The Irish Central Bank.
B The German Regulatory Authority, BaFin.
C The European Insurance and Occupational Pensions Authority.
D The European Securities and Markets Authority. - correct answer
B
1.2.4
,QFA
The prescription of procedures which must be followed by
financial services firms in their dealings with consumers is
which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business. - correct answer D
1.2.4
The Central Bank shares its function to prohibit unfair,
misleading or aggressive commercial practices by financial
services providers with the:
A Competition and Consumer Protection Commission.
B Director of Corporate Enforcement.
C European Insurance and Occupational Pensions Authority.
D European Securities and Markets Authority. - correct answer A
1.3.1
, QFA
The MAXIMUM fine which the Central Bank can impose
personally on Mary, the CEO of a bank, for non-compliance by
the bank with financial services regulations is:
A €0.5 million.
B €1 million.
C €2 million.
D €5 million. - correct answer B
1.3.3
The Central Bank shares its power to undertake surveys of the
provision of financial services to consumers with the:
A Consumers' Association of Ireland.
B Competition and Consumer Protection Commission.
C European Insurance and Occupational Pensions Authority.
D European Securities and Markets Authority. - correct answer B
1.4.3
The Central Bank does NOT authorise and regulate which one of
the following entities established in the State?
QFA REGULATION - SAMPLE PAPER 1 EXAM GRADED A+
The primary objective of structural regulation of financial
services firms is to:
A minimise risks to the financial system.
B ensure financial services providers remain solvent at all times.
C ensure only those with sufficient financial standing and
integrity can become financial services firms.
D enforce compliance by financial services providers with
consumer law. - correct answer C
1.2.1
In relation to a financial services firm established in an EU
country, the term 'freedom of services' means being able to:
A set up a branch in another EU country.
,QFA
B provide any type of financial service the firm wishes to
provide, without requiring any fresh authorisation.
C charge different levels of fees to different consumers, without
requiring authorisation to do so.
D provide financial services to consumers in another EU country
on a cross border basis. - correct answer D
1.2.1
A life assurance company established in Germany sells policies
to residents of the Republic of Ireland. Who regulates the
solvency of this life company?
A The Irish Central Bank.
B The German Regulatory Authority, BaFin.
C The European Insurance and Occupational Pensions Authority.
D The European Securities and Markets Authority. - correct answer
B
1.2.4
,QFA
The prescription of procedures which must be followed by
financial services firms in their dealings with consumers is
which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business. - correct answer D
1.2.4
The Central Bank shares its function to prohibit unfair,
misleading or aggressive commercial practices by financial
services providers with the:
A Competition and Consumer Protection Commission.
B Director of Corporate Enforcement.
C European Insurance and Occupational Pensions Authority.
D European Securities and Markets Authority. - correct answer A
1.3.1
, QFA
The MAXIMUM fine which the Central Bank can impose
personally on Mary, the CEO of a bank, for non-compliance by
the bank with financial services regulations is:
A €0.5 million.
B €1 million.
C €2 million.
D €5 million. - correct answer B
1.3.3
The Central Bank shares its power to undertake surveys of the
provision of financial services to consumers with the:
A Consumers' Association of Ireland.
B Competition and Consumer Protection Commission.
C European Insurance and Occupational Pensions Authority.
D European Securities and Markets Authority. - correct answer B
1.4.3
The Central Bank does NOT authorise and regulate which one of
the following entities established in the State?
