PRIN Principles for Businesses Assessment

Principles for Businesses Assessment Quiz

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

Question Title

Name

Question Title

Principle 9 Relationships of Trust requires an authorised firm to:

Rely on regulatory advice

Pay due regard to the information of its customers

Maintain its customer's confidence in the financial markets

Ensure the suitability of its advice to customers who rely upon its judgement

Question Title

The Principles for Businesses cover communications with: (select 4 answers) (Required.)

Retail Clients

Professional Clients

Eligible Counterparties

Shareholders

Regulators

Question Title

Which of the following clients would be afforded the greatest level of regulatory protection? (Required.)

A large international telecom company

A small business establishing a contributory company pension

A private individual planning their investments

An investment bank accepting a credit default swap

Question Title

Which of the following statements clarify the key difference between the Principles for Businesses and the Rules & Guidance? (select 2 answers) (Required.)

The Principles are general statements of the fundamental obligations of all firms authorised to conduct financial business in the UK

The Rules & Guidance amplify the Principles for Businesses in specific situations

The Principles are a voluntary code of practice

The Principles do not extend outside of the UK whereas the Rules & Guidance do

Question Title

Which of the following is NOT one of the 11 Principles for Businesses?

Market Conduct

Training & Competencies

Skill, Care & Due Diligence

Communication with Clients

Question Title

Which of the following outcomes are valid within Treating Customers Fairly? (select 3 answers)

The level of service given to a customer is in line with what has been advised

Giving a better deal to a customer that does more business than another

Ensuring the customer does not make a loss

Product recommendation suitable for the needs and circumstances of the customer

Giving clear information and being kept informed afterwards

Ensuring the customer gets the best deal in the market

Question Title

A firm is in breach of Principle 2 - Skill, Care and Diligence in its dealings with customers. This breach makes them liable for: (Required.)

Disciplinary sanctions

Withdrawal of permissions to engage in regulated activities in the UK

Both of the above

None of the above

Question Title

The Principle 'Relationships with Regulators' requires an authorised firm to cooperate with (select 1 answer): (Required.)

Either the FCA or the PRA only

The regulator in its jurisdiction only

The FCA, PRA, and all other regulators in the UK only

The FCA and the PRA as appropriate, and all other regulators in the UK and abroad

Question Title

Which of the following terms appears in the Principles for Businesses? (select 5 answers)

Corporate Governance

Client's Assets

Financial Crime

Customers Interests

Market Conduct

Prudence

Management & Control

Question Title

Which of the following outcomes form part of treating customers fairly? (select 2 answers) (Required.)

Consumers are shielded from risk to protect their capital

Consumers are guaranteed the best deal available in the market for every transaction

Where consumers receive advice, the advice is suitable and takes account of their circumstances

Consumers are provided with clear information and are kept informed at all stages of sale

PRIN Principles for Businesses Assessment

Principles for Businesses Assessment Quiz

Question Title

* Name

Question Title

* Principle 9 Relationships of Trust requires an authorised firm to:

Question Title

* The Principles for Businesses cover communications with: (select 4 answers) (Required.)

Question Title

* Which of the following clients would be afforded the greatest level of regulatory protection? (Required.)

Question Title

* Which of the following statements clarify the key difference between the Principles for Businesses and the Rules & Guidance? (select 2 answers) (Required.)

Question Title

* Which of the following is NOT one of the 11 Principles for Businesses?

Question Title

* Which of the following outcomes are valid within Treating Customers Fairly? (select 3 answers)

Question Title

* A firm is in breach of Principle 2 - Skill, Care and Diligence in its dealings with customers. This breach makes them liable for: (Required.)

Question Title

* The Principle 'Relationships with Regulators' requires an authorised firm to cooperate with (select 1 answer): (Required.)

Question Title

* Which of the following terms appears in the Principles for Businesses? (select 5 answers)

Question Title

* Which of the following outcomes form part of treating customers fairly? (select 2 answers) (Required.)

Name

Principle 9 Relationships of Trust requires an authorised firm to:

The Principles for Businesses cover communications with: (select 4 answers) (Required.)

Which of the following clients would be afforded the greatest level of regulatory protection? (Required.)

Which of the following statements clarify the key difference between the Principles for Businesses and the Rules & Guidance? (select 2 answers) (Required.)

Which of the following is NOT one of the 11 Principles for Businesses?

Which of the following outcomes are valid within Treating Customers Fairly? (select 3 answers)

A firm is in breach of Principle 2 - Skill, Care and Diligence in its dealings with customers. This breach makes them liable for: (Required.)

The Principle 'Relationships with Regulators' requires an authorised firm to cooperate with (select 1 answer): (Required.)

Which of the following terms appears in the Principles for Businesses? (select 5 answers)

Which of the following outcomes form part of treating customers fairly? (select 2 answers) (Required.)