FCA Mock Exam 1 Questions With Correct
Answers
Who |does |settlement |of |international |equities
Omgeo
Can |company |A |rely |on |information |from |an |IFA
Yes |due |to |the |agent |as |client |rule
What |timeframe |does |reporting |suspicious |market |activity |need |to |be |in
Promptly |but |not |immediately
Does |the |JMLSG |set |rules |or |guidelines?
Guidelines
What |will |a |non |exec |director |always |be?
approved
Which |is |the |role |which |must |always |be |approved?
Oversight |of |compliance |role
Do |you |need |a |suitability |report |for |a |small |life |policy |from |a |friendly |society?
No
What |are |the |4 |exceptions |to |needing |a |suitability |report?
1) |A |regulated |CIS |where |the |firm |acts |as |an |investment |manager
2) |Customer |is |habitually |outside |EEA
3) |Increases |to |a |regular |premium |in |an |existing |contract
4) |An |additional |single |contribution |to |a |product |where |a |single |contribution |has |already |been |made
Who |is |exempt |from |S19 |FSMA
General |media, |trustees, |certain |overseas |persons
When |does |the |rule |of |appropriateness |come |in
When |the |firm |is |arranging |a |transaction |for |a |client
When |is |there |a |right |to |appeal |a |decision |notice?
Answers
Who |does |settlement |of |international |equities
Omgeo
Can |company |A |rely |on |information |from |an |IFA
Yes |due |to |the |agent |as |client |rule
What |timeframe |does |reporting |suspicious |market |activity |need |to |be |in
Promptly |but |not |immediately
Does |the |JMLSG |set |rules |or |guidelines?
Guidelines
What |will |a |non |exec |director |always |be?
approved
Which |is |the |role |which |must |always |be |approved?
Oversight |of |compliance |role
Do |you |need |a |suitability |report |for |a |small |life |policy |from |a |friendly |society?
No
What |are |the |4 |exceptions |to |needing |a |suitability |report?
1) |A |regulated |CIS |where |the |firm |acts |as |an |investment |manager
2) |Customer |is |habitually |outside |EEA
3) |Increases |to |a |regular |premium |in |an |existing |contract
4) |An |additional |single |contribution |to |a |product |where |a |single |contribution |has |already |been |made
Who |is |exempt |from |S19 |FSMA
General |media, |trustees, |certain |overseas |persons
When |does |the |rule |of |appropriateness |come |in
When |the |firm |is |arranging |a |transaction |for |a |client
When |is |there |a |right |to |appeal |a |decision |notice?
