Page 1 of 64
QFA REGS – SAMPLE PAPER 1 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 1 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.
The primary objective of structural regulation of financial
services firms is to:
A minimize risks to the financial system.
B ensure financial services providers remain solvent at all
times.
C ensure only those with sufficient financial standing and
integrity can become financial services firms.
D enforce compliance by financial services providers with
consumer law. ✓ ✓ ...... ANSWER ....... C
, Page 2 of 64
1.2.1
In relation to a financial services firm established in an EU
country, the term 'freedom of services' means being able to:
A set up a branch in another EU country.
B provide any type of financial service the firm wishes to
provide, without requiring any fresh authorisation.
C charge different levels of fees to different consumers,
without requiring authorisation to do so.
D provide financial services to consumers in another EU
country on a cross border basis. ✓ ✓ ...... ANSWER .......
D
1.2.1
A life assurance company established in Germany sells
policies to residents of the Republic of Ireland. Who
regulates the solvency of this life company?
A The Irish Central Bank.
B The German Regulatory Authority, BaFin.
, Page 3 of 64
C The European Insurance and Occupational Pensions
Authority.
D The European Securities and Markets Authority. ✓ ✓ ......
ANSWER ....... B
1.2.4
The prescription of procedures which must be followed by
financial services firms in their dealings with consumers is
which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business. ✓ ✓ ...... ANSWER ....... D
1.2.4
The Central Bank shares its function to prohibit unfair,
misleading or aggressive commercial practices by financial
services providers with the:
A Competition and Consumer Protection Commission.
, Page 4 of 64
B Director of Corporate Enforcement.
C European Insurance and Occupational Pensions Authority.
D European Securities and Markets Authority. ✓ ✓ ......
ANSWER ....... A
1.3.1
The MAXIMUM fine which the Central Bank can impose
personally on Mary, the CEO of a bank, for non-compliance
by the bank with financial services regulations is:
A €0.5 million.
B €1 million.
C €2 million.
D €5 million. ✓ ✓ ...... ANSWER ....... B
1.3.3
The Central Bank shares its power to undertake surveys of
the provision of financial services to consumers with the:
A Consumers' Association of Ireland.
QFA REGS – SAMPLE PAPER 1 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 1 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.
The primary objective of structural regulation of financial
services firms is to:
A minimize risks to the financial system.
B ensure financial services providers remain solvent at all
times.
C ensure only those with sufficient financial standing and
integrity can become financial services firms.
D enforce compliance by financial services providers with
consumer law. ✓ ✓ ...... ANSWER ....... C
, Page 2 of 64
1.2.1
In relation to a financial services firm established in an EU
country, the term 'freedom of services' means being able to:
A set up a branch in another EU country.
B provide any type of financial service the firm wishes to
provide, without requiring any fresh authorisation.
C charge different levels of fees to different consumers,
without requiring authorisation to do so.
D provide financial services to consumers in another EU
country on a cross border basis. ✓ ✓ ...... ANSWER .......
D
1.2.1
A life assurance company established in Germany sells
policies to residents of the Republic of Ireland. Who
regulates the solvency of this life company?
A The Irish Central Bank.
B The German Regulatory Authority, BaFin.
, Page 3 of 64
C The European Insurance and Occupational Pensions
Authority.
D The European Securities and Markets Authority. ✓ ✓ ......
ANSWER ....... B
1.2.4
The prescription of procedures which must be followed by
financial services firms in their dealings with consumers is
which type of regulation?
A Structural.
B Systemic.
C Prudential.
D Conduct of Business. ✓ ✓ ...... ANSWER ....... D
1.2.4
The Central Bank shares its function to prohibit unfair,
misleading or aggressive commercial practices by financial
services providers with the:
A Competition and Consumer Protection Commission.
, Page 4 of 64
B Director of Corporate Enforcement.
C European Insurance and Occupational Pensions Authority.
D European Securities and Markets Authority. ✓ ✓ ......
ANSWER ....... A
1.3.1
The MAXIMUM fine which the Central Bank can impose
personally on Mary, the CEO of a bank, for non-compliance
by the bank with financial services regulations is:
A €0.5 million.
B €1 million.
C €2 million.
D €5 million. ✓ ✓ ...... ANSWER ....... B
1.3.3
The Central Bank shares its power to undertake surveys of
the provision of financial services to consumers with the:
A Consumers' Association of Ireland.
