QFA Regs Sample Paper 1 – Questions With
Comprehensive Solutions
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Terms in this set (100)
The primary objective of structural C
regulation of financial services firms is
to: 1.2.1
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.
,In relation to a financial services firm D
established in an EU country, the term
'freedom of services' means being able 1.2.1
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 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.
A life assurance company established B
in Germany sells policies to residents
of the Republic of Ireland. Who 1.2.4
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.
The prescription of procedures which D
must be followed by financial services
firms in their dealings with consumers 1.2.4
is which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business.
,The Central Bank shares its function to A
prohibit unfair, misleading or
aggressive commercial practices by 1.3.1
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.
The MAXIMUM fine which the Central B
Bank can impose personally on Mary,
the CEO of a bank, for non- 1.3.3
compliance by the bank with financial
services regulations is:
A €0.5 million.
B €1 million.
C €2 million.
D €5 million.
The Central Bank shares its power to B
undertake surveys of the provision of
financial services to consumers with 1.4.3
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.
, The Central Bank does NOT authorise B
and regulate which one of the
following entities established in the 1.4.4
State?
A Life assurance companies.
B Credit intermediaries.
C Home reversion firms.
D Reinsurance companies.
The Competition and Consumer B
Protection Commission can impose a
levy on: 1.4.5
A insurance intermediaries.
B banks.
C credit intermediaries.
D investment intermediaries.
An investment intermediary CANNOT A
provide investment advice on which
one of the following? 2.3
A Contracts for Difference.
B Bonds listed on a Stock Exchange.
C Non-insurance tracker bonds.
D Collective investment funds.
Comprehensive Solutions
Add to calendar
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (100)
The primary objective of structural C
regulation of financial services firms is
to: 1.2.1
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.
,In relation to a financial services firm D
established in an EU country, the term
'freedom of services' means being able 1.2.1
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 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.
A life assurance company established B
in Germany sells policies to residents
of the Republic of Ireland. Who 1.2.4
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.
The prescription of procedures which D
must be followed by financial services
firms in their dealings with consumers 1.2.4
is which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business.
,The Central Bank shares its function to A
prohibit unfair, misleading or
aggressive commercial practices by 1.3.1
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.
The MAXIMUM fine which the Central B
Bank can impose personally on Mary,
the CEO of a bank, for non- 1.3.3
compliance by the bank with financial
services regulations is:
A €0.5 million.
B €1 million.
C €2 million.
D €5 million.
The Central Bank shares its power to B
undertake surveys of the provision of
financial services to consumers with 1.4.3
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.
, The Central Bank does NOT authorise B
and regulate which one of the
following entities established in the 1.4.4
State?
A Life assurance companies.
B Credit intermediaries.
C Home reversion firms.
D Reinsurance companies.
The Competition and Consumer B
Protection Commission can impose a
levy on: 1.4.5
A insurance intermediaries.
B banks.
C credit intermediaries.
D investment intermediaries.
An investment intermediary CANNOT A
provide investment advice on which
one of the following? 2.3
A Contracts for Difference.
B Bonds listed on a Stock Exchange.
C Non-insurance tracker bonds.
D Collective investment funds.
