QFA REGS - SAMPLE PAPER 2
QUESTION WITH ACTUAL SOLUTIONS
ABC iiBank iiplc iiis iiestablished iiin iiGermany. iiIt iitransacts iibanking iibusiness iiin iithe
iiRepublic iiof iiIreland iion iia iicross-border iibasis. iiBeing iiable iito iiprovide iifinancial
iiservices iiin iithis iimanner iito iiconsumers iiin iiother iiEU iicountries iiis iireferred iito iias:
A iipassporting.
B iisubrogation.
C iimigration.
D iithe iicommon iigood. ii- iiAnswer iiA
1.2.1
In iirelation iito iia iifinancial iiservices iifirm iiestablished iiin iian iiEU iicountry, iithe iiterm
ii'freedom iiof iiestablishment' iimeans iibeing iiable iito:
A iiset iiup iia iibranch iiin iianother iiEU iicountry.
B iiprovide iiany iitype iiof iifinancial iiservice iithe iifirm iiwishes iito iiprovide, iiwithout iirequiring
iiany iifresh iiauthorisation.
C iicharge iidifferent iilevels iiof iicharges iito iidifferent iiconsumers, iiwithout iirequiring
iiauthorisation iito iido iiso.
D iiprovide iifinancial iiservices iito iiconsumers iiin iianother iiEU iicountry iion iia iicross-border
iibasis. ii- iiAnswer iiA
1.2.1
Regulation iiof iithe iicontinuing iisolvency iiand iiliquidity iiof iiestablished iifinancial iiservices
iifirms iiis iiknown iias iiwhich iitype iiof iiregulation?
A iiStructural.
B iiSystemic.
C iiPrudential.
D iiConduct iiof iiBusiness. ii- iiAnswer iiC
1.2.3
The iiCentral iiBank's iiConsumer iiProtection iiCode iiis iian iiexample iiof iiwhich iitype iiof
iiregulation?
A iiPrudential.
B iiSystemic.
C iiConduct iiof iiBusiness. ii
D iiStructural. ii- iiAnswer iiC
1.2.4
,The iiCentral iiBank iidoes iiNOT iiauthorise iiand iiregulate iiwhich iione iiof iithe iifollowing
iiestablished iiin iithe iiState?
A iiCredit iiinstitutions.
B iiDebt iimanagement iifirms.
C iiCredit iiintermediaries.
D iiRetail iicredit iifirms. ii- iiAnswer iiC
1.3.1
The iiMAXIMUM iifine iiwhich iithe iiCentral iiBank iican iiimpose iion iiABC iiInvestment
iiAdvisers iiLtd, iian iiinvestment iiintermediary, iifor iinon- iicompliance iiwith iifinancial
iiservices iiregulations, iiis:
A ii€1 iimillion.
B iithe iigreater iiof ii€2 iimillion iiand ii5% iiof iiannual
turnover.
C iithe iigreater iiof ii€5 iimillion iiand ii10% iiof iiannual iiturnover.
D iithe iigreater iiof ii€10 iimillion iiand ii10% iiof iiannual iiturnover. ii- iiAnswer iiD
1.3.3
Most iiauthorised iicredit iiintermediaries iiare
A iimortgage iiintermediaries.
B iigarages iioffering iiloans iiand iileasing. ii
C iiinsurance iiintermediaries.
D iicredit iicard iiproviders. ii- iiAnswer iiB
1.4.4
The iiregulation iiof iiunfair, iimisleading iior iiaggressive iicommercial iipractices iiby iifinancial
iiservices iifirms iiis iishared iibetween iiwhich iitwo iiinstitutions?
A iiThe iiCompetition iiand iiConsumer iiProtection iiCommission iiand iithe iiDirector iiof
iiCorporate iiEnforcement.
B iiThe iiCentral iiBank iiand iithe iiDepartment iiof iiFinance.
C iiThe iiDirector iiof iiCorporate iiEnforcement iiand iithe iiCentral iiBank.
D iiThe iiCompetition iiand iiConsumer iiProtection iiCommission iiand iithe iiCentral iiBank. ii-
iiAnswer iiD
1.4.1
Credit iiintermediaries iiare iiauthorised iiby iithe:
A iiCompetition iiand iiConsumer iiProtection
Commission.
B iiCentral iiBank.
C iiIrish iiBanking iiFederation.
D iiIrish iiCredit iiBureau ii- iiAnswer iiA
, 1.4.4
A iideemed iiauthorised iiinvestment iiintermediary iiis iione iiwhich:
A iiis iiexempt iifrom iiauthorisation iiunder iithe iiInvestment iiIntermediaries iiAct, ii1995.
B iiis iiautomatically iiauthorised iito iiarrange iiand/or iigive iiadvice iion iiany iiof iithe iiretail
iifinancial iiproducts iicovered iiby iithe iiInvestment iiIntermediaries iiAct, ii1995.
C iihas iiapplied iifor iiauthorisation iias iian iiinvestment iiintermediary iibut iihas iinot iiyet
iiobtained iiit.
D iiis iirestricted iito iiadvising iionly iion iinon- iiinsurance iitracker iibonds. ii- iiAnswer iiB
2.3.1
A iideemed iiauthorised iiinvestment iiintermediary iiis iiautomatically iiauthorised iito iiprovide
iiinvestment iiadvice iion:
(i) iishares iilisted iion iia iiStock iiExchange. ii
(ii) iiUCITS.
(iii) iideposits.
A ii(ii) iionly.
B ii(iii) iionly.
C ii(i) iiand ii(ii) iionly.
D ii(i), ii(ii) iiand ii(iii). ii- iiAnswer iiD
2.3.1
An iiinvestment iiintermediary iiauthorised iiunder iiSection ii10 iiof iithe iiInvestment
iiIntermediaries iiAct, ii1995, iiis iian iiintermediary iiwhich:
A iiis iiexempt iifrom iiauthorisation iiunder iithe iiInvestment iiIntermediaries iiAct, ii1995.
B iimust iiseek iiauthorisation iifor iieach iitype iiof iiretail iifinancial iiproduct iiit iiwishes iito
iiarrange iiand/or iiprovide iiadvice iion.
C iihas iiapplied iifor iiauthorisation iias iian iiinvestment iiintermediary iibut iihas iinot iiyet
iiobtained iiit.
D iiis iirestricted iito iiadvising iionly iion iiinsurance iipolicies iiand iitracker iibonds. ii- iiAnswer
iiB
2.3.1
An iiinvestment iiintermediary iiwho iican iiarrange iideposits iifor iiconsumers iiwith iia iirange
iiof iidifferent iibanks iiis iicalled iia iideposit:
A iiintermediary.
B iibroker.
C iiagent.
D iiproducer. ii- iiAnswer iiB
2.3.3
QUESTION WITH ACTUAL SOLUTIONS
ABC iiBank iiplc iiis iiestablished iiin iiGermany. iiIt iitransacts iibanking iibusiness iiin iithe
iiRepublic iiof iiIreland iion iia iicross-border iibasis. iiBeing iiable iito iiprovide iifinancial
iiservices iiin iithis iimanner iito iiconsumers iiin iiother iiEU iicountries iiis iireferred iito iias:
A iipassporting.
B iisubrogation.
C iimigration.
D iithe iicommon iigood. ii- iiAnswer iiA
1.2.1
In iirelation iito iia iifinancial iiservices iifirm iiestablished iiin iian iiEU iicountry, iithe iiterm
ii'freedom iiof iiestablishment' iimeans iibeing iiable iito:
A iiset iiup iia iibranch iiin iianother iiEU iicountry.
B iiprovide iiany iitype iiof iifinancial iiservice iithe iifirm iiwishes iito iiprovide, iiwithout iirequiring
iiany iifresh iiauthorisation.
C iicharge iidifferent iilevels iiof iicharges iito iidifferent iiconsumers, iiwithout iirequiring
iiauthorisation iito iido iiso.
D iiprovide iifinancial iiservices iito iiconsumers iiin iianother iiEU iicountry iion iia iicross-border
iibasis. ii- iiAnswer iiA
1.2.1
Regulation iiof iithe iicontinuing iisolvency iiand iiliquidity iiof iiestablished iifinancial iiservices
iifirms iiis iiknown iias iiwhich iitype iiof iiregulation?
A iiStructural.
B iiSystemic.
C iiPrudential.
D iiConduct iiof iiBusiness. ii- iiAnswer iiC
1.2.3
The iiCentral iiBank's iiConsumer iiProtection iiCode iiis iian iiexample iiof iiwhich iitype iiof
iiregulation?
A iiPrudential.
B iiSystemic.
C iiConduct iiof iiBusiness. ii
D iiStructural. ii- iiAnswer iiC
1.2.4
,The iiCentral iiBank iidoes iiNOT iiauthorise iiand iiregulate iiwhich iione iiof iithe iifollowing
iiestablished iiin iithe iiState?
A iiCredit iiinstitutions.
B iiDebt iimanagement iifirms.
C iiCredit iiintermediaries.
D iiRetail iicredit iifirms. ii- iiAnswer iiC
1.3.1
The iiMAXIMUM iifine iiwhich iithe iiCentral iiBank iican iiimpose iion iiABC iiInvestment
iiAdvisers iiLtd, iian iiinvestment iiintermediary, iifor iinon- iicompliance iiwith iifinancial
iiservices iiregulations, iiis:
A ii€1 iimillion.
B iithe iigreater iiof ii€2 iimillion iiand ii5% iiof iiannual
turnover.
C iithe iigreater iiof ii€5 iimillion iiand ii10% iiof iiannual iiturnover.
D iithe iigreater iiof ii€10 iimillion iiand ii10% iiof iiannual iiturnover. ii- iiAnswer iiD
1.3.3
Most iiauthorised iicredit iiintermediaries iiare
A iimortgage iiintermediaries.
B iigarages iioffering iiloans iiand iileasing. ii
C iiinsurance iiintermediaries.
D iicredit iicard iiproviders. ii- iiAnswer iiB
1.4.4
The iiregulation iiof iiunfair, iimisleading iior iiaggressive iicommercial iipractices iiby iifinancial
iiservices iifirms iiis iishared iibetween iiwhich iitwo iiinstitutions?
A iiThe iiCompetition iiand iiConsumer iiProtection iiCommission iiand iithe iiDirector iiof
iiCorporate iiEnforcement.
B iiThe iiCentral iiBank iiand iithe iiDepartment iiof iiFinance.
C iiThe iiDirector iiof iiCorporate iiEnforcement iiand iithe iiCentral iiBank.
D iiThe iiCompetition iiand iiConsumer iiProtection iiCommission iiand iithe iiCentral iiBank. ii-
iiAnswer iiD
1.4.1
Credit iiintermediaries iiare iiauthorised iiby iithe:
A iiCompetition iiand iiConsumer iiProtection
Commission.
B iiCentral iiBank.
C iiIrish iiBanking iiFederation.
D iiIrish iiCredit iiBureau ii- iiAnswer iiA
, 1.4.4
A iideemed iiauthorised iiinvestment iiintermediary iiis iione iiwhich:
A iiis iiexempt iifrom iiauthorisation iiunder iithe iiInvestment iiIntermediaries iiAct, ii1995.
B iiis iiautomatically iiauthorised iito iiarrange iiand/or iigive iiadvice iion iiany iiof iithe iiretail
iifinancial iiproducts iicovered iiby iithe iiInvestment iiIntermediaries iiAct, ii1995.
C iihas iiapplied iifor iiauthorisation iias iian iiinvestment iiintermediary iibut iihas iinot iiyet
iiobtained iiit.
D iiis iirestricted iito iiadvising iionly iion iinon- iiinsurance iitracker iibonds. ii- iiAnswer iiB
2.3.1
A iideemed iiauthorised iiinvestment iiintermediary iiis iiautomatically iiauthorised iito iiprovide
iiinvestment iiadvice iion:
(i) iishares iilisted iion iia iiStock iiExchange. ii
(ii) iiUCITS.
(iii) iideposits.
A ii(ii) iionly.
B ii(iii) iionly.
C ii(i) iiand ii(ii) iionly.
D ii(i), ii(ii) iiand ii(iii). ii- iiAnswer iiD
2.3.1
An iiinvestment iiintermediary iiauthorised iiunder iiSection ii10 iiof iithe iiInvestment
iiIntermediaries iiAct, ii1995, iiis iian iiintermediary iiwhich:
A iiis iiexempt iifrom iiauthorisation iiunder iithe iiInvestment iiIntermediaries iiAct, ii1995.
B iimust iiseek iiauthorisation iifor iieach iitype iiof iiretail iifinancial iiproduct iiit iiwishes iito
iiarrange iiand/or iiprovide iiadvice iion.
C iihas iiapplied iifor iiauthorisation iias iian iiinvestment iiintermediary iibut iihas iinot iiyet
iiobtained iiit.
D iiis iirestricted iito iiadvising iionly iion iiinsurance iipolicies iiand iitracker iibonds. ii- iiAnswer
iiB
2.3.1
An iiinvestment iiintermediary iiwho iican iiarrange iideposits iifor iiconsumers iiwith iia iirange
iiof iidifferent iibanks iiis iicalled iia iideposit:
A iiintermediary.
B iibroker.
C iiagent.
D iiproducer. ii- iiAnswer iiB
2.3.3
