FCA UK Regulation Sample Exam (A+ Guaranteed)

Which of the following is TRUE for a regulated firm under Money Laundering rules and regulations? correct answers Staff must be trained to recognise and deal with suspicious transactions Under the Proceeds of Crime Act 2002, criminal property is defined as correct answers any benefit derived from criminal behaviour Under what legislative framework can certain consumer bodies alert the FCA to supercomplaints? correct answers Financial Services Act 2012 The FCA`s COBS rules apply to: correct answers a UK investment management company managing a pension fund for a Berlin based company What is the role of the Financial Ombudsman Service? correct answers Administer and operate a dispute resolution service for clients of FCA-authorised firms Which of the following must be disclosed to a retail client when holding designated investments or client money subject to MiFID? correct answers Details of any investor compensation scheme applicable Which of the following claimants would warrant compensation by the Financial Services Compensation Scheme? correct answers The trustee of a personal pension fund Which of the following constitutes a regulated activity under the FSMA 2000? correct answers Acting as a manager of an authorised unit trust Which of the following UK firms are directly subject to the requirements of MiFID when undertaking designated investment business? correct answers Stockbrokers A firm receives a complaint from a customer relating to MiFID business. What is the MINIMUM period records should be retained? correct answers Five years from the date the complaint was received Which of the following is TRUE in respect of the Client money rules correct answers Client money must be separate from the firm's bank accounts Which of the following imposes the anti-money laundering requirements of criminal law on a stockbroker? correct answers Proceeds of Crime Act 2002 The main focus of the FCA`s supervisory approach on which its resources are focused is to: correct answers achieve its statutory objectives