QFA Regs - Sample Paper 1
92 Temporary big deposits are blanketed via the Deposit Guarantee Scheme as much as which
MAXIMUM restriction for a temporary length?
A €150,000
B €two hundred,000
C €250,000
D €a million - ANS-D
8.3.Three
A bank can observe Standard Customer Due Diligence requirements to a purchaser on a
threat-based totally technique if the bank takes account of the:
(i) profile of the patron.
(ii) nature of the financial service to be furnished to the customer.
(iii) distribution channel used to sell the financial carrier to the client.
A (ii) most effective.
B (iii) best.
C (i) and (iii) only.
D (i), (ii) and (iii). - ANS-D
four.Three.2
A financial institution can, under the General Data Protection Regulation, technique non-public
facts held on one among its clients if the processing is:
A incidental to the carrier furnished by way of the bank to the customer.
B now not important for the overall performance of a contract between the financial institution
and the customer.
C overseen with the aid of a senior manager of the financial institution.
D important for you to defend the essential pursuits of the statistics problem or of every other
herbal individual. - ANS-D
6.3.2
A financial institution CANNOT observe Simplified Customer Due Diligence where the consumer
is:
(i) another bank.
(ii) a Politically Exposed Person. (iii) a public body.
A (ii) best
.B (iii) best.
,C (i) and (ii) only.
D (i), (ii) and (iii). - ANS-A
four.3.3.1
A bank has cancelled the business enterprise appointment of TOP Investment Advisers Ltd. The
bank ought to:
(i) tell the Central Bank straight away of the cancellation.
(ii) place a be aware of discontinuance in a countrywide newspaper within seven operating
days.
(iii) write to all customers tormented by the cancellation informing them of the cancellation within
28 working days.
A (i) simplest.
B (ii) best.
C (ii) and (iii) best.
D (i), (ii) and (iii). - ANS-A
2.12
A financial institution is selling a belongings fund to its clients. However, the fund is about to buy
a property owned by way of a subsidiary of the financial institution. In relation to selling this
assets fund to its customers, the Consumer Protection Code requires the financial institution to:
A no longer sell this property fund to customers until after the fund has bought the assets in
question.
B searching for written confirmation from ability buyers that they're aware of the warfare of
hobby and nevertheless want to continue with the investment.
C supply traders a 30-day cooling off duration.
D at once seek the permission of the Central Bank to retain marketing the fund to its customers.
- ANS-B
5.2.14
A consumer can refer an unresolved complaint about which of the subsequent to the Financial
Services & Pensions Ombudsman?
(i) Home reversion organization.
(ii) A credit intermediary.
(iii) A mortgage intermediary.
A (ii) handiest.
B (i) and (ii) best.
C (ii) and (iii) best.
D (i), (ii) and (iii). - ANS-D
7.2.Three
, A client CANNOT refer an unresolved criticism that does not relate to an extended- time period
monetary provider to the Financial Services & Pensions Ombudsman if the conduct complained
of happened greater than which period of years before the complaint is made?
A three
B four
C five
D 6 - ANS-D
7.2.14
A monetary offerings company is advertising and marketing an funding product which can
fluctuate in value and does now not assure a return of capital.
Under the Consumer Protection Code which this sort of caution statements have to be
blanketed within the commercial?
A If you spend money on this product, you may lose some of the cash you invest.
B The cost of your funding will range.
C The fee of your funding may match down
in addition to up.
D The price of your funding may go up as well as down. - ANS-C
3.1.Four
A existence warranty company set up in Germany sells rules to residents of the Republic of
Ireland. Who regulates the solvency of this lifestyles corporation?
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. - ANS-B
1.2.Four
A member of an occupational pension scheme feels that the trustees of the scheme are not
complying with their obligations below the Pensions Act, 1990. This member need to refer their
criticism to the:
A Financial Services & Pensions Ombudsman.
B Central Bank.
C Pensions Authority.
D Minister for Social Protection. - ANS-C
7.2.Four
92 Temporary big deposits are blanketed via the Deposit Guarantee Scheme as much as which
MAXIMUM restriction for a temporary length?
A €150,000
B €two hundred,000
C €250,000
D €a million - ANS-D
8.3.Three
A bank can observe Standard Customer Due Diligence requirements to a purchaser on a
threat-based totally technique if the bank takes account of the:
(i) profile of the patron.
(ii) nature of the financial service to be furnished to the customer.
(iii) distribution channel used to sell the financial carrier to the client.
A (ii) most effective.
B (iii) best.
C (i) and (iii) only.
D (i), (ii) and (iii). - ANS-D
four.Three.2
A financial institution can, under the General Data Protection Regulation, technique non-public
facts held on one among its clients if the processing is:
A incidental to the carrier furnished by way of the bank to the customer.
B now not important for the overall performance of a contract between the financial institution
and the customer.
C overseen with the aid of a senior manager of the financial institution.
D important for you to defend the essential pursuits of the statistics problem or of every other
herbal individual. - ANS-D
6.3.2
A financial institution CANNOT observe Simplified Customer Due Diligence where the consumer
is:
(i) another bank.
(ii) a Politically Exposed Person. (iii) a public body.
A (ii) best
.B (iii) best.
,C (i) and (ii) only.
D (i), (ii) and (iii). - ANS-A
four.3.3.1
A bank has cancelled the business enterprise appointment of TOP Investment Advisers Ltd. The
bank ought to:
(i) tell the Central Bank straight away of the cancellation.
(ii) place a be aware of discontinuance in a countrywide newspaper within seven operating
days.
(iii) write to all customers tormented by the cancellation informing them of the cancellation within
28 working days.
A (i) simplest.
B (ii) best.
C (ii) and (iii) best.
D (i), (ii) and (iii). - ANS-A
2.12
A financial institution is selling a belongings fund to its clients. However, the fund is about to buy
a property owned by way of a subsidiary of the financial institution. In relation to selling this
assets fund to its customers, the Consumer Protection Code requires the financial institution to:
A no longer sell this property fund to customers until after the fund has bought the assets in
question.
B searching for written confirmation from ability buyers that they're aware of the warfare of
hobby and nevertheless want to continue with the investment.
C supply traders a 30-day cooling off duration.
D at once seek the permission of the Central Bank to retain marketing the fund to its customers.
- ANS-B
5.2.14
A consumer can refer an unresolved complaint about which of the subsequent to the Financial
Services & Pensions Ombudsman?
(i) Home reversion organization.
(ii) A credit intermediary.
(iii) A mortgage intermediary.
A (ii) handiest.
B (i) and (ii) best.
C (ii) and (iii) best.
D (i), (ii) and (iii). - ANS-D
7.2.Three
, A client CANNOT refer an unresolved criticism that does not relate to an extended- time period
monetary provider to the Financial Services & Pensions Ombudsman if the conduct complained
of happened greater than which period of years before the complaint is made?
A three
B four
C five
D 6 - ANS-D
7.2.14
A monetary offerings company is advertising and marketing an funding product which can
fluctuate in value and does now not assure a return of capital.
Under the Consumer Protection Code which this sort of caution statements have to be
blanketed within the commercial?
A If you spend money on this product, you may lose some of the cash you invest.
B The cost of your funding will range.
C The fee of your funding may match down
in addition to up.
D The price of your funding may go up as well as down. - ANS-C
3.1.Four
A existence warranty company set up in Germany sells rules to residents of the Republic of
Ireland. Who regulates the solvency of this lifestyles corporation?
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. - ANS-B
1.2.Four
A member of an occupational pension scheme feels that the trustees of the scheme are not
complying with their obligations below the Pensions Act, 1990. This member need to refer their
criticism to the:
A Financial Services & Pensions Ombudsman.
B Central Bank.
C Pensions Authority.
D Minister for Social Protection. - ANS-C
7.2.Four
