Advice Matters - May edition

Complete this short quiz to test your knowledge on the May edition of Advice Matters.

Answer all the questions and hit the done button to see how you have performed. If you have any wrong it is certainly worth revisiting the relevant article from this edition.

Question Title

* 1. What do the initials SM&CR stand for?

Senior Management and Conduct Regime

Senior Managers and Certification Regime

Senior Managers and Conduct Regulation

Senior Managers and Certification Regulation

Question Title

* 2. What percentage of the incidents firms reported to the FCA was caused by IT failure at a third-party supplier?

10%

17%

19%

Question Title

* 3. Which piece of work led to changes to fund governance rules and other adjustments to the FCA Handbook?

Asset Management Market Study

Financial Advice Market Review

Retail Distribution Review

Investment Platforms Market Study

Question Title

* 4. Which of the following does not fall into the investment management sector?

Asset management

Institutional intermediary and advice services

Custody & investment administration services

Retail lending

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* 5. Which of the following indicators of potential vulnerability was NOT mentioned in the article until the final paragraph:

Non-physical disabilities

Age

Bereavement

Degenerative conditions

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* 6. Which of the following IS considered an appropriate response on recognising a customer’s vulnerability:

Explaining that as the industry has rules on Treating Customers Fairly, we are unable to offer them anything which isn’t available to all customers.

Advise them to seek professional advice on implementing an Enduring Power of Attorney

Advising the customer to make sure they explain this vulnerability each time they interact with your firm, to ensure it is taken into consideration.

Utilising the firm’s system to record this so the customer doesn’t have to tell you again

Question Title

* 7. Which of the following is NOT one of the 9 Principles designed to improve outcomes for vulnerable customers

Industry Alignment

Easy for family and friends to support

Sensitive, flexible response

Incentive programmes based on recognition of vulnerability

Scam protection

Question Title

* 8. Please provide your details here to complete the quiz.

Name

Company

City/Town

Email Address

Phone Number