BTEC Business Unit 3 LO:B

Which organisation is appointed by the government to represent the interests of the consumer in disputes with financial service providers?

• OFT

• FCA

• FOS

• FSCS

Which of the following does NOT provide information, guidance or advice to individuals?

• Debt counsellor

• Payday Loan Company

• Citizens Advice

• Price Comparison Websites

Which of the following is an independent organisation with a remit to regulate the actions of providers of financial services, funded by membership fees charged to financial service providers?

• FCA

• FSCS

• OFT

• Citizens Advice

Which of the following popular high street organisations offers a range of services and account types, paying interest on credit balances on most types of accounts?

• Insurance companies

• Building societies

• Pension companies

• Credit unions

Which of the following is funded by compulsory fees charged to all regulated financial institutions and becomes involved in unresolved consumer disputes with financial institutions?

• Money Advice Service

• Citizens Advice

• Financial Ombudsman Service

• Financial Services Compensation Scheme

Which of the following is a government organisation that was established to regulate all markets, including financial markets?

• FOS

• OFT

• FSCS

• FCA

Which of the following is NOT a DISADVANTAGE of using price comparison websites?

• There is no guarantee they are 100% up to date

• There is no guarantee they are 100% unbiased

• There is no guarantee that all providers are listed on the websites

• There is no guarantee someone will answer the phone when you call

Which of the following financial institutions is NOT able to be visited on the high street?

• Nationwide Building Society

• Cash Converters

• Bank of England

• Royal Bank of Scotland

Which of the following represents a face to face way of communicating with customers?

• Telephone banking

• Branch banking

• Online banking

• Mobile banking

What is the FSCS an abbreviation of?

• Financial Services Conduct Scheme

• Financial Services Compensation Scheme

• Financial Standards Compensation Scheme

• Financial Standards Conduct Scheme