QFA REGS - SAMPLE PAPER 2
WITH 100% VERIFIED
QUESTIONS AND CORRECT
ANSWERS
The primary objec/ve of structural regula/on of financial services firms is to:
A minimise risks to the financial system.
B ensure financial services providers remain solvent at all /mes.
C ensure only those with sufficient financial standing and integrity can become
financial services firms.
D enforce compliance by financial services providers with consumer law.
C
1.2.1
In rela/on to a financial services firm established in an eu country, the term
'freedom of services' 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 authorisa/on.
C charge different levels of fees to different consumers, without requiring
authorisa/on to do so.
D provide financial services to consumers in another eu country on a cross
border basis.
D
1.2.1
,A life assurance company established in germany sells policies to residents of
the republic of ireland. Who regulates the solvency of this life company?
A the irish central bank.
B the german regulatory authority, bafin.
C the european insurance and occupa/onal pensions authority.
D the european securi/es and markets authority.
B
1.2.4
The prescrip/on of procedures which must be followed by financial services
firms in their dealings with consumers is which type of regula/on?
A structural.
B systemic.
C pruden/al.
D conduct of business.
D
1.2.4
The central bank shares its func/on to prohibit unfair, misleading or aggressive
commercial prac/ces by financial services providers with the:
a compe//on and consumer protec/on commission.
B director of corporate enforcement.
C european insurance and occupa/onal pensions authority.
D european securi/es and markets authority.
A
1.3.1
,The maximum fine which the central bank can impose personally on mary, the
ceo of a bank, for non-compliance by the bank with financial services
regula/ons is:
a €0.5 million.
B €1 million.
C €2 million.
D €5 million.
B
1.3.3
The central bank shares its power to undertake surveys of the provision of
financial services to consumers with the:
a consumers' associa/on of ireland.
B compe//on and consumer protec/on commission.
C european insurance and occupa/onal pensions authority.
D european securi/es and markets authority.
B
1.4.3
The central bank does not authorise and regulate which one of the following
en//es established in the state?
A life assurance companies.
B credit intermediaries.
C home reversion firms.
D reinsurance companies.
, B
1.4.4
The compe//on and consumer protec/on commission can impose a levy on:
a insurance intermediaries.
B banks.
C credit intermediaries.
D investment intermediaries.
B
1.4.5
An investment intermediary cannot provide investment advice on which one of
the following?
A contracts for difference.
B bonds listed on a stock exchange.
C non-insurance tracker bonds.
D collec/ve investment funds.
A
2.3
Xyz investment advisers ltd is a deemed authorised investment intermediary,
currently providing advice on bonds listed on a stock exchange and non-
insurance tracker bonds.
The firm now wants to provide advice to its clients on ucits funds provided by
top investment managers ltd. In order to do so, xyz must:
(i) get permission from the central bank to give advice on collec/ve investment
funds.
WITH 100% VERIFIED
QUESTIONS AND CORRECT
ANSWERS
The primary objec/ve of structural regula/on of financial services firms is to:
A minimise risks to the financial system.
B ensure financial services providers remain solvent at all /mes.
C ensure only those with sufficient financial standing and integrity can become
financial services firms.
D enforce compliance by financial services providers with consumer law.
C
1.2.1
In rela/on to a financial services firm established in an eu country, the term
'freedom of services' 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 authorisa/on.
C charge different levels of fees to different consumers, without requiring
authorisa/on to do so.
D provide financial services to consumers in another eu country on a cross
border basis.
D
1.2.1
,A life assurance company established in germany sells policies to residents of
the republic of ireland. Who regulates the solvency of this life company?
A the irish central bank.
B the german regulatory authority, bafin.
C the european insurance and occupa/onal pensions authority.
D the european securi/es and markets authority.
B
1.2.4
The prescrip/on of procedures which must be followed by financial services
firms in their dealings with consumers is which type of regula/on?
A structural.
B systemic.
C pruden/al.
D conduct of business.
D
1.2.4
The central bank shares its func/on to prohibit unfair, misleading or aggressive
commercial prac/ces by financial services providers with the:
a compe//on and consumer protec/on commission.
B director of corporate enforcement.
C european insurance and occupa/onal pensions authority.
D european securi/es and markets authority.
A
1.3.1
,The maximum fine which the central bank can impose personally on mary, the
ceo of a bank, for non-compliance by the bank with financial services
regula/ons is:
a €0.5 million.
B €1 million.
C €2 million.
D €5 million.
B
1.3.3
The central bank shares its power to undertake surveys of the provision of
financial services to consumers with the:
a consumers' associa/on of ireland.
B compe//on and consumer protec/on commission.
C european insurance and occupa/onal pensions authority.
D european securi/es and markets authority.
B
1.4.3
The central bank does not authorise and regulate which one of the following
en//es established in the state?
A life assurance companies.
B credit intermediaries.
C home reversion firms.
D reinsurance companies.
, B
1.4.4
The compe//on and consumer protec/on commission can impose a levy on:
a insurance intermediaries.
B banks.
C credit intermediaries.
D investment intermediaries.
B
1.4.5
An investment intermediary cannot provide investment advice on which one of
the following?
A contracts for difference.
B bonds listed on a stock exchange.
C non-insurance tracker bonds.
D collec/ve investment funds.
A
2.3
Xyz investment advisers ltd is a deemed authorised investment intermediary,
currently providing advice on bonds listed on a stock exchange and non-
insurance tracker bonds.
The firm now wants to provide advice to its clients on ucits funds provided by
top investment managers ltd. In order to do so, xyz must:
(i) get permission from the central bank to give advice on collec/ve investment
funds.
