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QFA REGS – SAMPLE PAPER 3 EXAM 2026
BANK ALL COMPLETE (100) CURRENT
TESTING QUESTIONS AND CORRECT
DETAILED ANSWERS|TOP-RATED A+.
QFA REGS
Prepare for the QFA Regs – Sample Paper 3 Exam with this
concise study resource covering key regulatory
principles, compliance requirements, and exam-style
questions. It helps reinforce important concepts and
improve exam readiness. Suitable for candidates
preparing for Qualified Financial Adviser (QFA) regulatory
exams.
When a life assurance company is providing advice to a
client on Personal Retirement Savings Accounts (PRSAs), it
must comply with the:
A MiFID Regulations.
B PRSA Mediation Regulations.
C Consumer Protection Code.
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D Code of Conduct for Life Assurance Companies. ✓ ✓ ......
ANSWER ....... C
Consumer Protection Code.
ABC Life & Pensions Ltd, an insurance intermediary, is
required under the Consumer Protection Code to display a
schedule of its fees and charges:
(i) in its public offices.
(ii) on its website.
(iii) on all its business stationary.
A (i) only.
B (i) and (ii) only.
C (ii) and (iii) only.
D (i), (ii) and (iii). ✓ ✓ ...... ANSWER ....... B
(i) and (ii) only.
Prior to offering a bundled financial product to a consumer, a
life assurance company must:
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A disclose to the consumer in writing the cost of each
product in the bundle.
B seek prior clearance from the Central Bank to do so.
C seek prior clearance from the Competition & Consumer
Protection Commission to do so.
D provide a money-back option to the consumer, if they want
to exit the bundle within the first 40 days. ✓ ✓ ......
ANSWER ....... A
Disclose to the consumer in writing the cost of each product
in the bundle
Under the Consumer Protection Code, a life assurance
company can charge a consumer a fee for an optional extra
benefit under a new policy, ONLY if the consumer:
A does not positively object to paying for that benefit.
B has confirmed that he or she wishes to purchase that
optional benefit.
C is an existing client of the life assurance company.
D is a company or an individual acting in the course of their
business ✓ ✓ ...... ANSWER ....... B
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has confirmed that he or she wishes to purchase that
optional benefit.
DEF Insurance Advisers Ltd is meeting with Paul, an existing
client, to review his pension provision. Under the Consumer
Protection Code, DEF is required to do which of the following
before offering Paul any advice about his pension provision?
A Record details of any material changes in his
circumstances since the last meeting.
B Offer him the option of a full fact find, which he can
decline if he wants to.
C Ask him to sign a waiver for a full fact find.
D Conduct a full fact find with him. ✓ ✓ ...... ANSWER .......
A
Record details of any material changes in his circumstances
since the last meeting.
ABC Advisers Ltd, an investment intermediary, is advising
Julie on the investment of a large lump sum. ABC has
identified Julie as a vulnerable customer because her
QFA REGS – SAMPLE PAPER 3 EXAM 2026
BANK ALL COMPLETE (100) CURRENT
TESTING QUESTIONS AND CORRECT
DETAILED ANSWERS|TOP-RATED A+.
QFA REGS
Prepare for the QFA Regs – Sample Paper 3 Exam with this
concise study resource covering key regulatory
principles, compliance requirements, and exam-style
questions. It helps reinforce important concepts and
improve exam readiness. Suitable for candidates
preparing for Qualified Financial Adviser (QFA) regulatory
exams.
When a life assurance company is providing advice to a
client on Personal Retirement Savings Accounts (PRSAs), it
must comply with the:
A MiFID Regulations.
B PRSA Mediation Regulations.
C Consumer Protection Code.
, Page 2 of 63
D Code of Conduct for Life Assurance Companies. ✓ ✓ ......
ANSWER ....... C
Consumer Protection Code.
ABC Life & Pensions Ltd, an insurance intermediary, is
required under the Consumer Protection Code to display a
schedule of its fees and charges:
(i) in its public offices.
(ii) on its website.
(iii) on all its business stationary.
A (i) only.
B (i) and (ii) only.
C (ii) and (iii) only.
D (i), (ii) and (iii). ✓ ✓ ...... ANSWER ....... B
(i) and (ii) only.
Prior to offering a bundled financial product to a consumer, a
life assurance company must:
, Page 3 of 63
A disclose to the consumer in writing the cost of each
product in the bundle.
B seek prior clearance from the Central Bank to do so.
C seek prior clearance from the Competition & Consumer
Protection Commission to do so.
D provide a money-back option to the consumer, if they want
to exit the bundle within the first 40 days. ✓ ✓ ......
ANSWER ....... A
Disclose to the consumer in writing the cost of each product
in the bundle
Under the Consumer Protection Code, a life assurance
company can charge a consumer a fee for an optional extra
benefit under a new policy, ONLY if the consumer:
A does not positively object to paying for that benefit.
B has confirmed that he or she wishes to purchase that
optional benefit.
C is an existing client of the life assurance company.
D is a company or an individual acting in the course of their
business ✓ ✓ ...... ANSWER ....... B
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has confirmed that he or she wishes to purchase that
optional benefit.
DEF Insurance Advisers Ltd is meeting with Paul, an existing
client, to review his pension provision. Under the Consumer
Protection Code, DEF is required to do which of the following
before offering Paul any advice about his pension provision?
A Record details of any material changes in his
circumstances since the last meeting.
B Offer him the option of a full fact find, which he can
decline if he wants to.
C Ask him to sign a waiver for a full fact find.
D Conduct a full fact find with him. ✓ ✓ ...... ANSWER .......
A
Record details of any material changes in his circumstances
since the last meeting.
ABC Advisers Ltd, an investment intermediary, is advising
Julie on the investment of a large lump sum. ABC has
identified Julie as a vulnerable customer because her
