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T Level Finance - Open Ended

Authored by Danielle Davies

Business

11th Grade

Used 5+ times

T Level Finance - Open Ended
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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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