What is the main focus of the TCF (Treating Customers Fairly) approach?

Which of the following is NOT one of the TCF fairness outcomes?

Who is primarily responsible for delivering TCF outcomes 2, 5, and 6 (product and service design, product performance and service levels, and post-sale barriers)?

Conduct risk is broadly described as:

What is the primary objective of TCF in the financial services industry?

What is the role of senior management in implementing TCF?

Which part of the product life cycle does the regulatory initiative want the industry to re-consider in the context of TCF?

What is the purpose of clear, enforceable rules and regulations in the implementation of TCF (Treating Customers Fairly)?

What is one of the fiduciary duties that an FSP must adopt according to the fit and proper requirements?

How can FSPs measure their adherence to TCF outcomes

Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint. Which consumer outcome is this

What enforcement powers does the FSCA have to ensure adherence to the TCF framework

What is the primary focus of Principle 1: Culture & Governance?

How does the principle define “fair treatment”?

Which of the following is NOT mentioned as a component of corporate culture under Principle 1?

How does the principle suggest companies can demonstrate evidence of implementing Outcome 1 effectively?

Select the outcome pertaining to the statement below;

“Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture”?

Which of the following examples demonstrates a violation of product suitability?

Why is it important for product designers to conduct research and testing in product development?

What should financial service providers do to ensure product suitability?

How can financial service providers demonstrate that they are delivering Outcome 2 to their customers?

Principle 3: Disclosures aims to:

According to Principle 3, information provided to customers must be:

Product information under Outcome 3 includes all of the following except:

FSP’s must communicate with customers post-sale to:

What is the focus of Principle 4: Suitable advice?

Evidence of Outcome 3 implementation includes

Representatives must disclose information about the product and the product supplier, including:

According to the Principle 4, what must a financial services provider assess at appointment and on an ongoing basis?

What does a financial services provider need to have in place to ensure suitable advice for the target market and product concerned?

What must representatives do to provide suitable advice to customers?

What is an example of a conflict of interest in the context of providing suitable advice?

What must a financial services provider maintain when a financial product is purchased due to advice given?

What must a financial services provider disclose to the client regarding conflict of interest?

What type of information should be included in the record of advice provided to the customer?

How can financial services providers assess the performance of products and services?

What must representatives inform clients about at the earliest reasonable opportunity, according to Principle 4?

According to Principle 5, “Performance and Service in line with expectations,” what should financial products and services do?

Which type of financial products does Principle 5 cover?

What is Principle 6 mainly focused on?

What is management information in the context of TCF compliance?  

Why is root cause analysis important in using management information for TCF compliance?

What is the role of a Compliance Officer in TCF compliance for a small financial services provider?