QFA LOANS
Be kind to yourself and keep practising!
QFA LOANS - SAMPLE PAPER 2 EXAM
Your time: 1 min.
QUESTIONS WITH CORRECT
Correct
ANSWERS 0
0%
Incorrect 100
Your answers
1 of 100
Term
Angela has applied to Barrow Bank plc for a housing loan that offers
a discounted variable rate of 3.35% for six months. Barrow Bank's
current variable rate is 3.95% per annum.
What is the MINIMUM interest rate Barrow Bank is required to use,
under the Consumer Protection Code, when stress testing Angela's
loan application?
A 3.35%
B 3.95%
C 5.35%
D 5.95%
Give this one a go later!
D
A
, 5.2.3 - Borrower options 4.3.3 - Affordability/Stress
Testing
B D
1.2.1 - Different forms of loans 8.13.3 - Debtor Responsibility
Don't know?
2 of 100
Term
Some of the function(s) of the Insolvency Service of Ireland (ISI)
include:
(i) monitoring the operations of the insolvency system.
(ii) negotiating and agreeing debt settlement arrangements.
(iii) authorising personal insolvency practitioners.
A (ii) only.
B (i) and (ii) only.
C (i) and (iii) only.
D (i), (ii) and (iii).
Give this one a go later!
C A
8.12.4 - Insolvency Service of 8.1.5.4 - Non - cooperating
Ireland borrower
B
, 8.13.5 - Personal Insolvency A
Arrangement
8.3.2.1 - Advanced written notice
Don't know?
3 of 100
Term
In relation to a claim on a household insurance policy, loss adjusters
are:
(i) appointed by the insurers when claims are large or complex.
(ii) required to act in the best interests of the insured not the insurer.
(iii) required to take an impartial view.
A (i) only.
B (i) and (ii) only.
C (i) and (iii) only.
D (i), (ii) and (iii).
Give this one a go later!
C A
5.5.8.5 - Claims Professionals 8.3.2.1 - Advanced written notice
A C
8.1.5.4 - Non - cooperating 3.3 - Capital Acquisition Tax
borrower Inheritance
Don't know?
, 4 of 100
Term
Claire has engaged the services of DMA Ltd, a debt management
company. DMA have issued a statement of advice to Claire, and
must now allow her:
A three business days to consider the statement.
B five business days to consider the statement.
C 10 business days to consider the statement.
D 20 business days to consider the statement.
Give this one a go later!
B
C
8.11.1 - Consumer Protection
8.12.4 - Insolvency Service of
Code 2102, Debt Management
Ireland
Firms
C A
2.11.1 - Standard Variable Rate (SVR) 2.9.1 - Private Treaty
Don't know?
5 of 100
Term
If a borrower has been successfully classified as not-cooperating by
a regulated entity, it means the borrower:
A falls outside the protection of the MARP process.
Be kind to yourself and keep practising!
QFA LOANS - SAMPLE PAPER 2 EXAM
Your time: 1 min.
QUESTIONS WITH CORRECT
Correct
ANSWERS 0
0%
Incorrect 100
Your answers
1 of 100
Term
Angela has applied to Barrow Bank plc for a housing loan that offers
a discounted variable rate of 3.35% for six months. Barrow Bank's
current variable rate is 3.95% per annum.
What is the MINIMUM interest rate Barrow Bank is required to use,
under the Consumer Protection Code, when stress testing Angela's
loan application?
A 3.35%
B 3.95%
C 5.35%
D 5.95%
Give this one a go later!
D
A
, 5.2.3 - Borrower options 4.3.3 - Affordability/Stress
Testing
B D
1.2.1 - Different forms of loans 8.13.3 - Debtor Responsibility
Don't know?
2 of 100
Term
Some of the function(s) of the Insolvency Service of Ireland (ISI)
include:
(i) monitoring the operations of the insolvency system.
(ii) negotiating and agreeing debt settlement arrangements.
(iii) authorising personal insolvency practitioners.
A (ii) only.
B (i) and (ii) only.
C (i) and (iii) only.
D (i), (ii) and (iii).
Give this one a go later!
C A
8.12.4 - Insolvency Service of 8.1.5.4 - Non - cooperating
Ireland borrower
B
, 8.13.5 - Personal Insolvency A
Arrangement
8.3.2.1 - Advanced written notice
Don't know?
3 of 100
Term
In relation to a claim on a household insurance policy, loss adjusters
are:
(i) appointed by the insurers when claims are large or complex.
(ii) required to act in the best interests of the insured not the insurer.
(iii) required to take an impartial view.
A (i) only.
B (i) and (ii) only.
C (i) and (iii) only.
D (i), (ii) and (iii).
Give this one a go later!
C A
5.5.8.5 - Claims Professionals 8.3.2.1 - Advanced written notice
A C
8.1.5.4 - Non - cooperating 3.3 - Capital Acquisition Tax
borrower Inheritance
Don't know?
, 4 of 100
Term
Claire has engaged the services of DMA Ltd, a debt management
company. DMA have issued a statement of advice to Claire, and
must now allow her:
A three business days to consider the statement.
B five business days to consider the statement.
C 10 business days to consider the statement.
D 20 business days to consider the statement.
Give this one a go later!
B
C
8.11.1 - Consumer Protection
8.12.4 - Insolvency Service of
Code 2102, Debt Management
Ireland
Firms
C A
2.11.1 - Standard Variable Rate (SVR) 2.9.1 - Private Treaty
Don't know?
5 of 100
Term
If a borrower has been successfully classified as not-cooperating by
a regulated entity, it means the borrower:
A falls outside the protection of the MARP process.
