PRIIPs Quiz

Category 4 = which type if investment fund?

Investment Trust

With Profits

Unit Trust

What is the minimum number of years' historical data required to calculate the MRM for a daily pricing fund?

What is the minimum number of years' historical data required to calculate the MRM for a monthly pricing fund?

The proxy for an Investment Trust should be chosen from a list of what?

AIC sectors

ABI Sectors

Morningstar sectors

The proxy for Life funds should be chosen from a list of what?

AIC sectors

ABI Sectors

Morningstar sectors

If the client wishes to use a proxy other than the list provided in the template, then CDP should contact who, in order to proceed further?

Project Manager

Client Support

Data Relationship Manager

Can a client use non-FE templates or provide data separately outside of a template?

Yes

Who is the escalation point for CDP if a client is likely to breach their deadline?

Project Manager

Client Support

Data relationship Manager

Which mailbox should the client send the completed fund level and product level data templates?

ClientDataProjects@FE

PRIIPsData@FE

ClientSupport@FE

What does PRIIP stand for?

Primary Retail Investment Information Product

Personal Retail Indicative Insurance Product

Packaged Retail and Insurance-based Investment Products

The SRI is composed of which 2 risk measures?

Credit Risk & Market Risk

Volatility & Market Risk

Volatility & Performance

A proxy is required under what 2 circumstances?

Unit Share does not have enough history or is an outcome focused fund that has had a change of Investment Method

Unit Share does not have enough history or is not an outcome focused fund that has had a change of Investment Style.

Unit Share does not have enough history or is an outcome focused fund that has had a change of Investment Style.

What is the Recommended Holding Period?

The recommended amount of time (in years) that an investor is advised to wait before investing in the fund.

The recommended amount of time (in years) that an investor is advised to hold assets in the fund.

The recommended amount of time (in years) that an investment manager should offer the fund for.

Under what circumstance may a fund manager provide a proxy effective date that is after the fund launched?

A fund that has changed management group

A With Profits fund that has no target volatility

An outcome focused fund which has changed investment style

The client is unsure what the credit quality escalating and mitigating factor are. Where should they be directed to find the answer?

Definitions and RTS reference tab in the fund level data templates

ClientSupport@FE

The prospectus of the fund

The Client advises that they have not provided a figure for full biometric risk premium because this is already covered in their Insurance costs. Based on this is the figure still required?

Yes – even if the figure is the same, it should be provided twice in both fields

No - It is already covered by the biometric risk premium.

Client ABC have provided a product & fund mapping template. What is the correct format of the code?

245YUT7

ABC245YUT7

245YUT7ABC

How is the performance fee calculated?

The performance fee which is relevant, as at the PRIIP production date

Average of past 5 year’s performance fee data

The last performance fee that was paid to the investor

If “Is Flexible” is marked as “Yes”, then what other field needs to be populated?

CRM

SRI

Risk Limit of Fund

For With Profits funds, what fields need to be completed as mandatory?

SRI and Forecast Annual Returns

Risk Limit of Fund

SRI and Proxy fields

Which of the following applies to "early exit penalties"?

Costs where an investor withdraws before the maturity date / RHP

Costs where the investor withdraws before a pre-agreed date with the investment manager

Costs which apply no matter when the investor withdraws from a fund

Under what circumstances would a client have to assess Credit Risk and provide Credit Quality steps?

If the fund has exposure of >10% in corporate bonds / assets entailing a credit risk

If the fund has exposure of >10% in fixed interest / assets entailing a credit risk

If a fund has exposure of between 25 - 75% in fixed interest / assets entailing a credit risk

Are early exit penalties relevant on a fund or product level?

Fund only

Product only

Fund and Product

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