CISI Financial Regulations Final Exam Study Questions with COMPLETE SOLUTIONS (LATEST 2024]

CISI Financial Regulations Final Exam Study Questions with COMPLETE SOLUTIONS (LATEST 2024] A firm engaging in a transaction triggered the COBS requirement to display proof of appropriateness for the transaction because the client: - CORRECT ANSWER Engaged in execution only trades Appropriateness is for non-advised trades and protects both professional and retail clients. The most likely factor to trigger the requirement to assess appropriateness is the execution only service, specifically when relating to a complex product. Examples of client money - CORRECT ANSWER Interest earned on client money Uncleared cheques Amounts deposited by the client to be held on discretion Not: Monies due to the firm In relation to customer complaints, the following are compulsory: - CORRECT ANSWER The presence of written procedures in relation to investigating complaints The creation of written procedures in relation to responding to complaints Disclosure of the right to refer the complaint to the Financial Ombudsman Scheme NOT: always paying compensation Eligible claimants excludes the following: - CORRECT ANSWER - Other authorised firms - Overseas financial institutions - Supranational institutions, governments and central administrative authorities - Provincial, regional, local and municipal authorities; an