FCA Mock 1 v2
Write notes on... - CORRECT
ANSWER-1,2,6,12,16,19,21,24,26(inducement),27,31,32,33,38,41,42,43,45,46,4
7,49,50,56,57,62,68,69(final decision?),73,
Get more familiar with what is an eligible counterparty
When are trade reports not necessary? - CORRECT ANSWER-When its a fund
manager for clients. Transactions will be in the periodic statement
What is the FCAs view on industry guidance in terms of monitoring or enforcing
compliance - CORRECT ANSWER-They will not monitor or enforce compliance
When should the FCA be notified of a suspicious activity? - CORRECT
ANSWER-Once a full investigation has been completed to assess the nature of
the event
Can a third party appeal to the Tribunal on behalf of an authorised firm -
CORRECT ANSWER-Yes, if the appeal is made within 28 days of the notice
being issued
Who has overall responsibility for the UK's financial system, including the
institutional structure and the legislation that governs it? - CORRECT
ANSWER-HM Treasury
To whom is the PRA directly accountable? - CORRECT ANSWER-Court of the
Bank of England
To whom is the FCA directly accountable? - CORRECT ANSWER-HM Treasury
Who operates the Tax and Chancery Chamber of the Upper Tribunal -
CORRECT ANSWER-A government department, run by the Ministry of Justice
Which of the following is not a sanction available to the FCA in relation to a
breach of the conduct of business rules?
Write notes on... - CORRECT
ANSWER-1,2,6,12,16,19,21,24,26(inducement),27,31,32,33,38,41,42,43,45,46,4
7,49,50,56,57,62,68,69(final decision?),73,
Get more familiar with what is an eligible counterparty
When are trade reports not necessary? - CORRECT ANSWER-When its a fund
manager for clients. Transactions will be in the periodic statement
What is the FCAs view on industry guidance in terms of monitoring or enforcing
compliance - CORRECT ANSWER-They will not monitor or enforce compliance
When should the FCA be notified of a suspicious activity? - CORRECT
ANSWER-Once a full investigation has been completed to assess the nature of
the event
Can a third party appeal to the Tribunal on behalf of an authorised firm -
CORRECT ANSWER-Yes, if the appeal is made within 28 days of the notice
being issued
Who has overall responsibility for the UK's financial system, including the
institutional structure and the legislation that governs it? - CORRECT
ANSWER-HM Treasury
To whom is the PRA directly accountable? - CORRECT ANSWER-Court of the
Bank of England
To whom is the FCA directly accountable? - CORRECT ANSWER-HM Treasury
Who operates the Tax and Chancery Chamber of the Upper Tribunal -
CORRECT ANSWER-A government department, run by the Ministry of Justice
Which of the following is not a sanction available to the FCA in relation to a
breach of the conduct of business rules?
