CISI Regulations EXAM ACTUAL QUESTIONS AND CORRECT ANSWERS

CISI Regulations EXAM ACTUAL
QUESTIONS AND CORRECT ANSWERS
How many days do clients get to cancel an OEIC investment (when they receive a
cancellation notice)? (Chapter 4) - CORRECT ANSWERS✅✅14


How long should MiFID client confirmation copies be kept? (Chapter 4) - CORRECT
ANSWERS✅✅5 years


How long should non-MiFID client confirmation copies be kept? (Chapter 4) - CORRECT
ANSWERS✅✅3 years


How long should pension transfer cancellation records be kept? (Chapter 4) - CORRECT
ANSWERS✅✅Indefinitely


How frequently should valuation statements be provided to retail clients? (Chapter 4) -
CORRECT ANSWERS✅✅Semi-annually


Who has established the standard method of client reconciliation? (Chapter 4) - CORRECT
ANSWERS✅✅FCA


If A is an agent for B but A is your client, who do you consider your client? (Chapter 4) -
CORRECT ANSWERS✅✅A


Does MiFID or non-MiFID client categorisation take precedence? (Chapter 4) - CORRECT
ANSWERS✅✅MiFID


When would Eligible Counterparties be reclassified as per se professional clients? (Chapter
4) - CORRECT ANSWERS✅✅When they take (provide) investment advice



What do non-advised sales relate to? (Chapter 4) - CORRECT ANSWERS✅✅Discretionary
portfolio management

,What should financial promotions with quoted yields avoid doing? (Chapter 4) - CORRECT
ANSWERS✅✅Emphasising short-term prospects



What do 'basic advice rules' relate to? (Chapter 4) - CORRECT ANSWERS✅✅Stakeholder
pension recommendations


What is client money which includes fees classed as? (Chapter 4) - CORRECT
ANSWERS✅✅Client money (even though the fees are not client money)


What's the maximum FSCS compensation for deposits? (Chapter 5) - CORRECT
ANSWERS✅✅£75000 per person (or £85000 in CISI Mock and real life)


What's the maximum FSCS compensation for home finance? (Chapter 5) - CORRECT
ANSWERS✅✅£50000


What's the maximum FSCS compensation for insurance? (Chapter 5) - CORRECT
ANSWERS✅✅90% of a claim


What's the maximum FSCS compensation for investments? (Chapter 5) - CORRECT
ANSWERS✅✅£50000


Which charities are eligible FSCS claimants? (Chapter 5) - CORRECT
ANSWERS✅✅Those with income under £1 million



Which trustees are eligible FSCS claimants? (Chapter 5) - CORRECT ANSWERS✅✅Those
with assets under £1 million


Which companies or private individuals are eligible FSCS claimants? (Chapter 5) -
CORRECT ANSWERS✅✅Those with a balance sheet (or turnover) under EUR 2 million
(and fewer than 10 employees)


What's the maximum compensation from FOS? (Chapter 5) - CORRECT
ANSWERS✅✅£150000

, What 2 factors are COBS applied based on? (Chapter 1) - CORRECT ANSWERS✅✅The
location and nature of a firm's activities


What does the FCA have for customers? (Chapter 1) - CORRECT ANSWERS✅✅6 TCF
(Treating Customers Fairly) consumer outcomes


What do CISI principles recommend to avoid jeopardising reputations? (Chapter 1) -
CORRECT ANSWERS✅✅Rejecting short-term profits


How do the FCA SYSC rules apply to 'non-common platforms'? (Chapter 1) - CORRECT
ANSWERS✅✅They operate as guidance


Does a firm's MiFID status impact the application of COBS rules? (Chapter 1) - CORRECT
ANSWERS✅✅No



SYSC - CORRECT ANSWERS✅✅Senior Management Arrangements, Systems and
Controls


CRD - CORRECT ANSWERS✅✅Capital Requirements Directive



FCA - CORRECT ANSWERS✅✅Financial Conduct Authority



PRA - CORRECT ANSWERS✅✅Prudential Regulatory Authority



FOS - CORRECT ANSWERS✅✅Financial Ombudsman Service



UKLA - CORRECT ANSWERS✅✅UK Listing Authority



FSCS - CORRECT ANSWERS✅✅Financial Services Compensation Scheme