QFA Regs - Sample Paper 3
1 A client can refer an unresolved complaint about which of the subsequent to the Financial
Services & Pensions Ombudsman?
(i) Home reversion corporation.
(ii) A credit score intermediary.
(iii) A mortgage middleman.
A (ii) most effective.
B (i) and (ii) simplest.
C (ii) and (iii) only.
D (i), (ii) and (iii) - ANS-D
(i), (ii) and (iii)
three Mary has simply retired and acquired a retirement lump sum of €three hundred,000 which
she lodged to a deposit account along with her bank. How a good deal of this accretion is
covered with the aid of the Deposit Guarantee Scheme?
A €100,000 at some stage in.
B €250,000 for the primary three months then falling to €a hundred,000 thereafter.
C €270,000 for the first nine months then falling to €ninety,000 thereafter.
D €three hundred,000 for the primary six months then falling to €one hundred,000 thereafter. -
ANS-D
€300,000 for the primary six months then falling to €a hundred,000 thereafter
9 Eva arranged a credit card with ABC Bank p.C the usage of the net. If ABC did not comply
with the Distance Marketing Regulations while arranging the credit card with Eva:
A the credit card agreement is null and void.
B the credit card contract can not be enforced in opposition to ABC.
C the credit score card agreement can't be enforced towards Eva.
D ABC is problem to an automatic quality of €1,000 but the credit card contract is unaffected -
ANS-C
the credit card agreement cannot be enforced against Eva
A financial institution has cancelled the business enterprise appointment of TOP Investment
Advisers Ltd. The financial institution ought to:
(i) tell the Central Bank right now of the cancellation.
(ii) region a word of discontinuance in a country wide newspaper within seven working days.
(iii) write to all customers laid low with the cancellation informing them of the cancellation within
28 working days.
,A (i) handiest.
B (ii) simplest.
C (ii) and (iii) best.
D (i), (ii) and (iii). - ANS-A
(i) best
A financial institution is promoting a assets fund to its customers. However, the fund is set to
buy a belongings owned with the aid of a subsidiary of the bank. In relation to selling this
belongings fund to its customers, the Consumer Protection Code requires the financial
institution to:
A not promote this belongings fund to customers till after the fund has purchased the property in
question.
B are searching for written confirmation from ability traders that they're aware of the warfare of
hobby and nevertheless want to proceed with the funding.
C deliver investors a 30-day cooling off duration.
D without delay are seeking the permission of the Central Bank to hold advertising the fund to
its clients. - ANS-B
searching for written affirmation from capability investors that they're privy to the warfare of
hobby and nonetheless want to continue with the funding.
A grievance approximately the walking of a Personal Retirement Savings Account (PRSA)
CANNOT be stated the Financial Services & Pensions Ombudsman till:
A at the least 3 months have elapsed because the criticism changed into first made to the PRSA
issuer.
B the grievance has long past thru the PRSA provider's inner dispute resolution method and
stays unresolved.
C the complaint has gone thru the Central Bank and remains unresolved.
D the substance of the complaint has first been set up by the Pensions Authority. - ANS-B
the complaint has gone thru the PRSA issuer's inner dispute decision process and stays
unresolved.
A consumer CANNOT refer an unresolved complaint that doesn't relate to a protracted-time
period financial service to the Financial Services & Pensions Ombudsman if the behavior
complained of passed off greater than which era of years earlier than the grievance is made?
A three
B4
C5
D 6 - ANS-D
6 years
, A choice by means of the Financial Services & Pensions Ombudsman about a criticism referring
to a pension provider shall encompass:
(i) the decision.
(ii) the grounds for the decision.
(iii) any course given.
A (i) handiest.
B (i) and (ii) best.
C (i) and (iii) handiest.
D (i), (ii) and (iii). - ANS-D
(i), (ii) and (iii)
A deemed authorized investment middleman is one which:
A is exempt from authorisation below the Investment Intermediaries Act, 1995.
B is robotically permitted to set up and/or deliver recommendation on any of the retail economic
products covered via the Investment Intermediaries Act, 1995.
C has applied for authorisation as an investment intermediary however has no longer yet
acquired it.
D is constrained to advising most effective on noninsurance tracker bonds. - ANS-B
Is robotically authorised to set up and/or supply advice on any of the retail monetary
merchandise included by using the Investment Intermediaries Act, 1995
A economic offerings company is needed to verify a purchaser's identification for which it gives
a as soon as off financial transaction if the value of that transaction is more than which price?
A €five,000
B €10,000
C €12,700
D €15,000 - ANS-D
€15,000
A lifestyles assurance enterprise set up in Germany sells guidelines to citizens of the Republic
of Ireland. Who regulates the solvency of this lifestyles enterprise?
A The Central Bank of Ireland.
B The German Regulatory Authority, BaFin.
C The European Insurance and Occupational Pensions Authority.
D The European Securities and Markets Authority - ANS-B
The German Regulatory Authority, BaFin
A MiFID investment firm can provide funding advice on which of the following?
(i) Collective Investment Funds.
(ii) Contracts for Difference.
1 A client can refer an unresolved complaint about which of the subsequent to the Financial
Services & Pensions Ombudsman?
(i) Home reversion corporation.
(ii) A credit score intermediary.
(iii) A mortgage middleman.
A (ii) most effective.
B (i) and (ii) simplest.
C (ii) and (iii) only.
D (i), (ii) and (iii) - ANS-D
(i), (ii) and (iii)
three Mary has simply retired and acquired a retirement lump sum of €three hundred,000 which
she lodged to a deposit account along with her bank. How a good deal of this accretion is
covered with the aid of the Deposit Guarantee Scheme?
A €100,000 at some stage in.
B €250,000 for the primary three months then falling to €a hundred,000 thereafter.
C €270,000 for the first nine months then falling to €ninety,000 thereafter.
D €three hundred,000 for the primary six months then falling to €one hundred,000 thereafter. -
ANS-D
€300,000 for the primary six months then falling to €a hundred,000 thereafter
9 Eva arranged a credit card with ABC Bank p.C the usage of the net. If ABC did not comply
with the Distance Marketing Regulations while arranging the credit card with Eva:
A the credit card agreement is null and void.
B the credit card contract can not be enforced in opposition to ABC.
C the credit score card agreement can't be enforced towards Eva.
D ABC is problem to an automatic quality of €1,000 but the credit card contract is unaffected -
ANS-C
the credit card agreement cannot be enforced against Eva
A financial institution has cancelled the business enterprise appointment of TOP Investment
Advisers Ltd. The financial institution ought to:
(i) tell the Central Bank right now of the cancellation.
(ii) region a word of discontinuance in a country wide newspaper within seven working days.
(iii) write to all customers laid low with the cancellation informing them of the cancellation within
28 working days.
,A (i) handiest.
B (ii) simplest.
C (ii) and (iii) best.
D (i), (ii) and (iii). - ANS-A
(i) best
A financial institution is promoting a assets fund to its customers. However, the fund is set to
buy a belongings owned with the aid of a subsidiary of the bank. In relation to selling this
belongings fund to its customers, the Consumer Protection Code requires the financial
institution to:
A not promote this belongings fund to customers till after the fund has purchased the property in
question.
B are searching for written confirmation from ability traders that they're aware of the warfare of
hobby and nevertheless want to proceed with the funding.
C deliver investors a 30-day cooling off duration.
D without delay are seeking the permission of the Central Bank to hold advertising the fund to
its clients. - ANS-B
searching for written affirmation from capability investors that they're privy to the warfare of
hobby and nonetheless want to continue with the funding.
A grievance approximately the walking of a Personal Retirement Savings Account (PRSA)
CANNOT be stated the Financial Services & Pensions Ombudsman till:
A at the least 3 months have elapsed because the criticism changed into first made to the PRSA
issuer.
B the grievance has long past thru the PRSA provider's inner dispute resolution method and
stays unresolved.
C the complaint has gone thru the Central Bank and remains unresolved.
D the substance of the complaint has first been set up by the Pensions Authority. - ANS-B
the complaint has gone thru the PRSA issuer's inner dispute decision process and stays
unresolved.
A consumer CANNOT refer an unresolved complaint that doesn't relate to a protracted-time
period financial service to the Financial Services & Pensions Ombudsman if the behavior
complained of passed off greater than which era of years earlier than the grievance is made?
A three
B4
C5
D 6 - ANS-D
6 years
, A choice by means of the Financial Services & Pensions Ombudsman about a criticism referring
to a pension provider shall encompass:
(i) the decision.
(ii) the grounds for the decision.
(iii) any course given.
A (i) handiest.
B (i) and (ii) best.
C (i) and (iii) handiest.
D (i), (ii) and (iii). - ANS-D
(i), (ii) and (iii)
A deemed authorized investment middleman is one which:
A is exempt from authorisation below the Investment Intermediaries Act, 1995.
B is robotically permitted to set up and/or deliver recommendation on any of the retail economic
products covered via the Investment Intermediaries Act, 1995.
C has applied for authorisation as an investment intermediary however has no longer yet
acquired it.
D is constrained to advising most effective on noninsurance tracker bonds. - ANS-B
Is robotically authorised to set up and/or supply advice on any of the retail monetary
merchandise included by using the Investment Intermediaries Act, 1995
A economic offerings company is needed to verify a purchaser's identification for which it gives
a as soon as off financial transaction if the value of that transaction is more than which price?
A €five,000
B €10,000
C €12,700
D €15,000 - ANS-D
€15,000
A lifestyles assurance enterprise set up in Germany sells guidelines to citizens of the Republic
of Ireland. Who regulates the solvency of this lifestyles enterprise?
A The Central Bank of Ireland.
B The German Regulatory Authority, BaFin.
C The European Insurance and Occupational Pensions Authority.
D The European Securities and Markets Authority - ANS-B
The German Regulatory Authority, BaFin
A MiFID investment firm can provide funding advice on which of the following?
(i) Collective Investment Funds.
(ii) Contracts for Difference.
