Friday Five Focus on Regulation – 8 December – 5 Questions in 5 Minutes
Friday Five Focus on Regulation – 5 Questions in 5 Minutes Every Friday
What’s this all about?
Each week, we ask questions relating to one of these topics: Investments, Taxation, Pensions, Protection, or Regulation. This week, our Friday Five is relevant to Regulation; this is useful as you prepare for either of the CII’s R01 or CF1 exams. The challenge is for you to answer them in 5 minutes. Answers at the bottom of the page.
Questions
IMPORTANT! These questions relate to examinable tax year 2023/24, examinable by the CII until 31 August 2024.
- In relation to the UK General Data Protection Regulation and the Data Protection Act 2018, which of the following would be regarded as client data? (Tick all that apply.)
- Employer’s address.
- National Insurance records.
- Family circumstances.
- Bank details.
- Which of the following factors does the Financial Conduct Authority take into account when conducting a risk assessment for a regulated firm?
- Geographical location and volume of transactions.
- Proximity of competitors and the average age of the client base.
- Average age of the client base and the type of products sold.
- Volume of transactions, type of products sold and the type of customer.
- Which of the following bodies are exempt from Financial Conduct Authority authorisation? (Tick all that apply.)
- Institute of Actuaries.
- The Bank of England.
- Local authorities.
- Lloyd’s of London.
- Which of the following is NOT covered by the Financial Services and Markets Act 2000?
- Futures.
- NS&I products.
- Stocks and shares.
- Unit trusts.
- Which of the following is an example of a ‘non-real time’ financial promotion?
- Telephone conversation.
- Email conversation.
- Advertisement.
- Personal visit.
Answers
- BCD – See R01 Study Text, Chp 7
Grab our taster mock exam paper for CII R01. Click here to download.
- D – See R01 Study Text, Chp 5
Grab our taster mock exam paper for CII R01. Click here to download.
- ABC – See R01 Study Text, Chp 7
Grab our taster mock exam paper for CII R01. Click here to download.
- B – See CF1 Study Text, Chp 10
Grab our taster mock exam paper for CII CF1 Click here to download.
- C – See CF1 Study Text, Chp 11
Grab our taster mock exam paper for CII CF1. Click here to download.
How did you find this week’s questions? Did you complete them in 5 minutes? Did you get them all correct? Do you disagree with any?
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