If an insurer is unable to pay an employers' liability claim for £4m due to insolvency, what is the maximum protection that the individual would receive under the Financial Services Compensation Scheme?

• £4m

• £5m

• £3.2m

• £3.6m

Within an insurance broker, which role is subject to the FCA training and competence rules?

• Administration staff.

• Managing director.

• Head of back office functions.

• Adviser.

Who, in the first instance, should a policyholder complain to if they believe that they were mis-sold a regulated product?

• The Financial Services Compensation Scheme.

• The Office of Fair Trading.

• The authorised firm that provided the advice.

• The Financial Ombudsman Service.

When the Financial Ombudsman Service finds in favour of the insured, the:

• settlement is not binding on either party.

• insured must accept the settlement.

• insurer can either accept or reject the settlement.

• insured can either accept or reject the settlement.

An insurance broker has been offered a trip to the races if he recommends an insurer's product to customers. What action should he take to comply with the CII Code of Ethics?

• Accept the offer but only if the product is clearly appropriate to the client's needs.

• Reject the offer.

• Reject the offer but ask if a colleague could go instead

• Accept the offer as this is accepted practice

For an insurer's online marketing to comply with the UK GDPR:

• there is no need to retain records relating to how consent was given.

• people have to positively give their consent to opt in to marketing.

• all types of personal data are treated equally.

• the insurer may assume a person's consent to receive marketing.

Under the Data Protection Act 2018, what is the maximum fine the Information Commissioner's Office can levy on serious data breaches?

• A fine up to £12m or 4% annual global turnover.

• A fine up to £7.5m or 1% annual global turnover.

• A fine up to £17.5m or 4% annual global turnover.

• A fine up to £12m or 6% annual global turnover.

Who would be regarded as an 'eligible complainant' by the Financial Ombudsman Service?

• A charity with annual income of £6.8m.

• A multi-international business.

• A trust with net assets of £5.1m.

• A micro-enterprise.

What is the maximum compensation the Financial Ombudsman Service can now require a firm to award to a complainant?

• £355,000.

• £325,000.

• £375,000.

• £425,000.

Under the Financial Services Compensation Scheme, what amount would be paid if an insurer offering professional indemnity were to fail, resulting in an unpaid claim?

• 90% but only up to a maximum amount

• 100% but only up to a maximum amount.

• 90%

• 100%