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BTEC Business Finance Consumer Protection Organizations Proctored Exam Questions With Explanations Of Answers Success Guaranteed.

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FCA (Financial Conduct Authority) - correct answer protect the rights of consumers, and regulates actions of financial service providers and has the power to ensure standards are maintained. FOS (Financial Ombudsman Service) - correct answer represents the consumer in disputes with financial service providers and helps to resolve them. FSCS (Financial Services Compensation Scheme) - correct answer pays compensation to customers of financial service companies and their savings are protected up to £85,000. OFT (Office of Fair Trading) - correct answer set up by government to regulate all markets including financial services markets and aim to encourage fair and healthy competition. Consumer Credit Legislation - correct answer regulation of any financial institution offering credit to consumers.

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BTEC Business Finance Consumer
Protection Organisations

FCA (Financial Conduct Authority) - correct answer protect the rights of consumers, and regulates
actions of financial service providers and has the power to ensure standards are maintained.



FOS (Financial Ombudsman Service) - correct answer represents the consumer in disputes with
financial service providers and helps to resolve them.



FSCS (Financial Services Compensation Scheme) - correct answer pays compensation to customers of
financial service companies and their savings are protected up to £85,000.



OFT (Office of Fair Trading) - correct answer set up by government to regulate all markets including
financial services markets and aim to encourage fair and healthy competition.



Consumer Credit Legislation - correct answer regulation of any financial institution offering credit to
consumers.

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