FCA UK Regulation Sample Exam Questions And Answers (Updated And Verified)

FCA UK Regulation Sample Exam Questions And Answers (Updated And Verified) Which of the following is TRUE for a regulated firm under Money Laundering rules and regulations? - answerStaff must be trained to recognise and deal with suspicious transactions Under the Proceeds of Crime Act 2002, criminal property is defined as - answerany benefit derived from criminal behaviour Under what legislative framework can certain consumer bodies alert the FCA to supercomplaints? - answerFinancial Services Act 2012 The FCA`s COBS rules apply to: - answera UK investment management company managing a pension fund for a Berlin based company What is the role of the Financial Ombudsman Service? - answerAdminister 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? - answerDetails of any investor compensation scheme applicable Which of the following claimants would warrant compensation by the Financial Services Compensation Scheme? - answerThe trustee of a personal pension fund Which of the following constitutes a regulated activity under the FSMA 2000? - answerActing 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? - answerStockbrokers A firm receives a complaint from a customer relating to MiFID business. What is the MINIMUM period records should be retained? - answerFive years from the date the complaint was received Which of the following is TRUE in respect of the Client money rules - answerClient 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? - answerProceeds of Crime Act 2002