QFA REGS SAMPLE PAPER 4 EXAM (2026/2027)
QUESTIONS AND CORRECT ANSWERS GRADED
A+
The prescription of procedures which must be followed by financial services firms
in their dealings with consumers is which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business.
D
Conduct of Business.
The Central Bank of Ireland does NOT authorise and regulate which one of the
following established in the State?
A Credit institutions.
B Debt management firms.
C Credit intermediaries.
D Retail credit firms
C
Credit intermediaries
,The MAXIMUM fine which the Central Bank can impose on ABC Investment
Advisers Ltd, an investment intermediary, for non-compliance with financial
services regulations, is:
A €1 million.
B the greater of €2 million and 5% of annual turnover.
C the greater of €5 million and 10% of annual turnover.
D the greater of €10 million and 10% of annual turnover.
D
the greater of €10 million and 10% of annual turnover
The Central Bank imposed a fine on ABC Investment Advisers Ltd, an investment
intermediary, for noncompliance with financial services regulations. ABC can
appeal this decision to the:
A Minister for Finance.
B Financial Services & Pensions Ombudsman.
C European Insurance and Occupational Pensions Authority.
D Irish Financial Services Appeals Tribunal.
D
Irish Financial Services Appeals Tribunal
The Central Bank shares its power to initiate a prosecution against a financial
services firm under the Unfair Terms in Consumer Contracts Regulations with
which other institution?
,A The Competition and Consumer Protection Commission.
B The Director of Corporate Enforcement.
C The European Insurance and Occupational Pensions Authority.
D The European Securities and Markets Authority.
A
The Competition and Consumer Protection Commission
Credit intermediaries are authorised by the:
A Competition and Consumer Protection Commission.
B Central Bank of Ireland.
C Irish Banking Federation.
D Irish Credit Bureau
A
Competition and Consumer Protection Commission
ABC Bank plc is established in Germany. It transacts banking business in the
Republic of Ireland on a crossborder basis. Being able to provide financial services
in this manner to consumers in other EU countries is referred to as:
A passporting.
B subrogation.
C migration.
, D the common good.
A
Passporting
In relation to a financial services firm established in an EU country, the term
'freedom of establishment' means being able to:
A set up a branch in another EU country.
B provide any type of financial service the firm wishes to provide, without
requiring any fresh authorisation.
C charge different levels of charges to different consumers, without requiring
authorisation to do so.
D provide financial services to consumers in another EU country on a cross-border
basis.
A
set up a branch in another EU country
Regulation of the continuing solvency and liquidity of established financial
services firms is known as which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business.
C
QUESTIONS AND CORRECT ANSWERS GRADED
A+
The prescription of procedures which must be followed by financial services firms
in their dealings with consumers is which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business.
D
Conduct of Business.
The Central Bank of Ireland does NOT authorise and regulate which one of the
following established in the State?
A Credit institutions.
B Debt management firms.
C Credit intermediaries.
D Retail credit firms
C
Credit intermediaries
,The MAXIMUM fine which the Central Bank can impose on ABC Investment
Advisers Ltd, an investment intermediary, for non-compliance with financial
services regulations, is:
A €1 million.
B the greater of €2 million and 5% of annual turnover.
C the greater of €5 million and 10% of annual turnover.
D the greater of €10 million and 10% of annual turnover.
D
the greater of €10 million and 10% of annual turnover
The Central Bank imposed a fine on ABC Investment Advisers Ltd, an investment
intermediary, for noncompliance with financial services regulations. ABC can
appeal this decision to the:
A Minister for Finance.
B Financial Services & Pensions Ombudsman.
C European Insurance and Occupational Pensions Authority.
D Irish Financial Services Appeals Tribunal.
D
Irish Financial Services Appeals Tribunal
The Central Bank shares its power to initiate a prosecution against a financial
services firm under the Unfair Terms in Consumer Contracts Regulations with
which other institution?
,A The Competition and Consumer Protection Commission.
B The Director of Corporate Enforcement.
C The European Insurance and Occupational Pensions Authority.
D The European Securities and Markets Authority.
A
The Competition and Consumer Protection Commission
Credit intermediaries are authorised by the:
A Competition and Consumer Protection Commission.
B Central Bank of Ireland.
C Irish Banking Federation.
D Irish Credit Bureau
A
Competition and Consumer Protection Commission
ABC Bank plc is established in Germany. It transacts banking business in the
Republic of Ireland on a crossborder basis. Being able to provide financial services
in this manner to consumers in other EU countries is referred to as:
A passporting.
B subrogation.
C migration.
, D the common good.
A
Passporting
In relation to a financial services firm established in an EU country, the term
'freedom of establishment' means being able to:
A set up a branch in another EU country.
B provide any type of financial service the firm wishes to provide, without
requiring any fresh authorisation.
C charge different levels of charges to different consumers, without requiring
authorisation to do so.
D provide financial services to consumers in another EU country on a cross-border
basis.
A
set up a branch in another EU country
Regulation of the continuing solvency and liquidity of established financial
services firms is known as which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business.
C
