T Level Finance - Open Ended
Authored by Danielle Davies
Business
11th Grade
Used 5+ times
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43 questions
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1.
OPEN ENDED QUESTION
1 min • 1 pt
What does FCA stand for?
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Answer explanation
Financial Conduct Authority
2.
OPEN ENDED QUESTION
1 min • 1 pt
Who is the FCA funded by?
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Answer explanation
Compulsory membership o all financial institutions
3.
OPEN ENDED QUESTION
1 min • 1 pt
Explain the FCA's function of supervision?
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Answer explanation
Supervision - ensuring practices are in the interest of the consumer
4.
OPEN ENDED QUESTION
1 min • 1 pt
Explain the FCA's function of Enforcement
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Answer explanation
Enforcement - using powers to ensure standards are maintained
5.
OPEN ENDED QUESTION
1 min • 1 pt
What can the FOS order a business to pay a customer?
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Answer explanation
Compensation
6.
OPEN ENDED QUESTION
1 min • 1 pt
Who will pay compensation to a consumer of financial services if the service provider is unable to?
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Answer explanation
Financial Services Compensation Scheme (FSCS)
7.
OPEN ENDED QUESTION
1 min • 1 pt
The Financial Services Compensation Scheme (FSCS) protects savings up to how much ? (£)
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Answer explanation
£85,000
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