
Compliance Quiz
Quiz
•
Financial Education
•
Professional Development
•
Hard
Sharon Hobbs
FREE Resource
Enhance your content
16 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Regulatory Reporting: Q1. Which of the following are examples of the types of information / data that you would need to submit / provide as part of your Regulatory Reporting, if your company is authorised?
Financial statements and audit reports
Employee personal data
Marketing strategies
Office supply inventory
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Regulatory Reporting: Q2. Please explain which permissions you have applied for and what you will use them for?
I have applied for data access permissions to analyze financial trends.
I have applied for marketing permissions to promote new products.
I have applied for administrative permissions to manage user accounts.
I have applied for reporting permissions to submit compliance reports.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumer Duty: Q1. Please provide an overview of what you understand about Consumer Duty?
Consumer Duty is a set of regulations aimed at ensuring fair treatment of consumers by financial services firms.
Consumer Duty is a marketing strategy used by companies to attract more customers.
Consumer Duty is a legal requirement for consumers to follow when purchasing products.
Consumer Duty is a financial term used to describe consumer spending habits.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumer Duty: Q2. Which of the following is an example of how a business can deliver good outcomes for consumers under Consumer Duty?
Providing clear and transparent information about products and services
Ignoring customer complaints and feedback
Focusing solely on maximizing profits without considering consumer needs
Offering misleading promotions and advertisements
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumer Duty: Q3. In your Regulatory Business Plan you talk about obtaining fair value assessments, how will you obtain these and what things do you look for on the fair value assessment?
By conducting market research and analyzing competitor pricing.
By randomly selecting a few products and evaluating their prices.
By consulting with external auditors for their opinion.
By using historical data to predict future trends.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumer Duty: Q4. If you felt a lender wasn't providing fair value, what action would you take?
Report to the financial ombudsman
Discuss with the lender
Switch to another lender
Do nothing
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumer Journey: Q1. Which of the following steps or questions would you ask to understand if the vehicle and finance package is suitable and affordable for your customer’s needs?
Ask about the customer's budget and financial situation
Inquire about the customer's favorite car color
Discuss the latest car models
Ask if the customer has a driver's license
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