QFA REGS - SAMPLE PAPER 1| QFA REGS
- SAMPLE PAPER 2 ACTUAL EXAM
QUESTIONS WITH CORRECT ANSWERS
NEW MODIFIED
The Central Bank shares its power to undertake surveys of the provision of
financial services to consumers with the:
A Consumers' Association of Ireland.
B Competition and Consumer Protection Commission.
C European Insurance and Occupational Pensions Authority.
D European Securities and Markets Authority. --CORRECT ANSWER--B
1.4.3
The Central Bank does NOT authorise and regulate which one of the following
entities established in the State?
A Life assurance companies.
B Credit intermediaries.
C Home reversion firms.
D Reinsurance companies. --CORRECT ANSWER--B
Page 1 of 101
,1.4.4
The Competition and Consumer Protection Commission can impose a levy on:
A insurance intermediaries.
B banks.
C credit intermediaries.
D investment intermediaries. --CORRECT ANSWER--B
1.4.5
An investment intermediary CANNOT provide investment advice on which one
of the following?
A Contracts for Difference.
B Bonds listed on a Stock Exchange.
C Non-insurance tracker bonds.
D Collective investment funds. --CORRECT ANSWER--A
2.3
XYZ Investment Advisers Ltd is a deemed authorised investment intermediary,
currently providing advice on bonds listed on a Stock Exchange and non-
insurance tracker bonds.
Page 2 of 101
,The firm now wants to provide advice to its clients on UCITS funds provided
by TOP Investment Managers Ltd. In order to do so, XYZ must:
(i) get permission from the Central Bank to give advice on collective investment
funds.
(ii) get an agency appointment with TOP Investment Managers Ltd.
(iii) have minimum shareholder funds of €50,000.
A (i) only.
B (ii) only.
C (ii) and (iii) only.
D (i), (ii) and (iii). --CORRECT ANSWER--B
2.3.1
The primary objective of structural regulation of financial services firms is to:
A minimise 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. --
CORRECT ANSWER--C
Page 3 of 101
, 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. --CORRECT 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.
C The European Insurance and Occupational Pensions Authority.
D The European Securities and Markets Authority. --CORRECT ANSWER--B
1.2.4
Page 4 of 101
- SAMPLE PAPER 2 ACTUAL EXAM
QUESTIONS WITH CORRECT ANSWERS
NEW MODIFIED
The Central Bank shares its power to undertake surveys of the provision of
financial services to consumers with the:
A Consumers' Association of Ireland.
B Competition and Consumer Protection Commission.
C European Insurance and Occupational Pensions Authority.
D European Securities and Markets Authority. --CORRECT ANSWER--B
1.4.3
The Central Bank does NOT authorise and regulate which one of the following
entities established in the State?
A Life assurance companies.
B Credit intermediaries.
C Home reversion firms.
D Reinsurance companies. --CORRECT ANSWER--B
Page 1 of 101
,1.4.4
The Competition and Consumer Protection Commission can impose a levy on:
A insurance intermediaries.
B banks.
C credit intermediaries.
D investment intermediaries. --CORRECT ANSWER--B
1.4.5
An investment intermediary CANNOT provide investment advice on which one
of the following?
A Contracts for Difference.
B Bonds listed on a Stock Exchange.
C Non-insurance tracker bonds.
D Collective investment funds. --CORRECT ANSWER--A
2.3
XYZ Investment Advisers Ltd is a deemed authorised investment intermediary,
currently providing advice on bonds listed on a Stock Exchange and non-
insurance tracker bonds.
Page 2 of 101
,The firm now wants to provide advice to its clients on UCITS funds provided
by TOP Investment Managers Ltd. In order to do so, XYZ must:
(i) get permission from the Central Bank to give advice on collective investment
funds.
(ii) get an agency appointment with TOP Investment Managers Ltd.
(iii) have minimum shareholder funds of €50,000.
A (i) only.
B (ii) only.
C (ii) and (iii) only.
D (i), (ii) and (iii). --CORRECT ANSWER--B
2.3.1
The primary objective of structural regulation of financial services firms is to:
A minimise 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. --
CORRECT ANSWER--C
Page 3 of 101
, 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. --CORRECT 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.
C The European Insurance and Occupational Pensions Authority.
D The European Securities and Markets Authority. --CORRECT ANSWER--B
1.2.4
Page 4 of 101
