
Understanding the Insurance Distribution Directive
Authored by Guillaume Morette
Business
Professional Development
Used 2+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of the Insurance Distribution Directive (IDD)?
To increase insurance company profits
To enhance consumer protection and harmonise insurance distribution across the EU
To reduce the number of insurance providers
To eliminate all insurance intermediaries
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What are the main areas covered by the IDD Directive? (Multiple answers possible)
Product Oversight and Governance (POG)
Conflict of interest
Professional training and competence
Client information and conduct of business
Suitability assessment
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A bank can be an ancillary insurance intermediary.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The IDD Directive provides for maximum harmonisation between EU Member States.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main objective of insurance product governance under the IDD?
To maximise sales at any cost
To ensure products are designed to meet the needs of identified target markets
To allow only one type of insurance product per company
To reduce the number of insurance claims
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT considered a distribution channel under the IDD?
Direct sales by insurers
Insurance brokers
Comparison websites
Asset Managers
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
According to the IDD, what must insurance distributors do regarding conflicts of interest? (Multiple answers possible)
Ignore them
If they cannot be avoided, disclose and manage them to protect the customer
Try to avoid them as much as possible
Only inform the regulator, not the customer
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