Consumer Duty

Consumer Duty Assessment Quiz

Please be advised you are required to achieve an 80% pass to successfully complete this assessment.

Question Title

Name

Question Title

The Consumer Duty is supported by three regulatory elements. Which of the following is NOT one of them? (select ONE answer) (Required.)

The consumer principle

Three cross-cutting rules

Four outcomes

A new DUTY Sourcebook

Question Title

How does the fair treatment of vulnerable customers fit in with the Consumer Duty? (Select ONE Answer) (Required.)

Firms are expected to continue to identify vulnerable customers and treat them fairly, but it will be outside the scope of the Consumer Duty

The consumer support outcome requires firms to consider how they support vulnerable customers

Vulnerable customers can be treated in the same way as any other customer

Firms may decide not to deal with customers who show vulnerable characteristics

Question Title

Which of the following is the new Principle 12 that will apply to firms that deal with retail customers? (Select ONE Answer) (Required.)

A firm must act to deliver good outcomes for retail clients

A firm must act to prevent customers from coming to foreseeable harm

A firm must act in good faith towards retail customers

A firm must enable and support retail customers to pursue their financial objectives

Question Title

How can we demonstrate that our firm acts in good faith towards its clients. Which of the following would you NOT include in your answer? (Select ONE Answer) (Required.)

We document the target market for our products

We assess the value for money of our fees

We review the quality of client communications

Our advisers can sell products that they have little knowledge about

Question Title

What processes does our company have that support our customers and the Consumer Duty? (select all that apply)

Training for all stakeholders to the business both internal and external

A Lender Matrix that identifies the suitability of a lenders product to the customer?

Marketing Policy and Communications Plan

Vulnerable Persons Policy

None of the above

Consumer Duty

Consumer Duty Assessment Quiz

Question Title

* Name

Question Title

* The Consumer Duty is supported by three regulatory elements. Which of the following is NOT one of them? (select ONE answer) (Required.)

Question Title

* How does the fair treatment of vulnerable customers fit in with the Consumer Duty? (Select ONE Answer) (Required.)

Question Title

* Which of the following is the new Principle 12 that will apply to firms that deal with retail customers? (Select ONE Answer) (Required.)

Question Title

* How can we demonstrate that our firm acts in good faith towards its clients. Which of the following would you NOT include in your answer? (Select ONE Answer) (Required.)

Question Title

* What processes does our company have that support our customers and the Consumer Duty? (select all that apply)

Name

The Consumer Duty is supported by three regulatory elements. Which of the following is NOT one of them? (select ONE answer) (Required.)

How does the fair treatment of vulnerable customers fit in with the Consumer Duty? (Select ONE Answer) (Required.)

Which of the following is the new Principle 12 that will apply to firms that deal with retail customers? (Select ONE Answer) (Required.)

How can we demonstrate that our firm acts in good faith towards its clients. Which of the following would you NOT include in your answer? (Select ONE Answer) (Required.)

What processes does our company have that support our customers and the Consumer Duty? (select all that apply)