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CISI Quiz

Cisi, Financial Services Authority 10 Questions.

 
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1

Eu regulation comes by way of tiered approach to its creation and implementation. The common approach used is known as?

  • Lanfalussy process
  • Regulatory process
  • Financial regulation process
  • EU Regulation process

2

Which one of the following is not an objective of the FSA?

  • Maintain the confidence of the UK financial system
  • Customer protection
  • Bankers protection
  • Financial stability

3

What factors does the FSA use to access whether the firm is ''fit and proper''?

  • Honesty integrity and reputation
  • Financial stability
  • Risk analysis
  • Prudential regulation conduct

4

Under what act was the FSA set up?

  • Financial Services and Markets Act 2000 (FSMA)
  • Financial Services and Markets Act 1988 (FSMA)
  • Financial Services and Markets Act 1999 (FSMA)
  • Financial Services and Markets Act 2002 (FSMA)

5

Under what stage of the money laundering process is the money moved around to make it difficult for authorities to track?

  • Integration
  • Placement
  • Layering
  • Laundering

6

If you suspect money laundering is taking place who do you report it to?

  • FSA
  • MLRO
  • Police
  • HMRC

7

To cancel your registration with the FSA your firm must have the following?

  • Certificate of approval
  • £7000
  • Plan to cease carrying on regulatory activities
  • Be regulated under another independent financial body

8

Which two of the following are not the main laws and regulations relating to money laundering?

  • proceeds of crime act 2002
  • Banking regulations 1998
  • Banking regulations 2007
  • Proceeds of crime act 2000

9

Who appoints a companies MLRO?

  • FSA
  • The company themselves
  • The Police
  • HMRC

10

Which act makes it an offense for a firm to provide financial services in the UK without being authorised to do so.

  • Financial services and markets act 2000
  • European proceeds of crime act 1998
  • Proceeds of crime act 2002
  • Money laundering regulations 2007

 

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