Paper 6
Insurance Knowledge Quiz
Test your knowledge on insurance regulations and practices with our engaging quiz! This 10-question quiz covers essential topics including FCA rules, customer treatment, and more.
- Multiple choice questions
- Gain insights into your understanding of insurance
- Perfect for professionals and enthusiasts alike
In what time frame must a company issue their formal written response to a customer?
5 days
8 weeks
3 months
12 months
What do the Claims and Underwriting Exchange do?
Handle claims for insurance providers
Investigate claims for the FCA
Investigate claims for insurance companies
Collect claims data and analyse for fraudulent acitivty
Treating customers fairly is considered to be an integral part of which of the FCA's operational objectives
To ensure that the relevant markets function well
Protect and enhance the integrity of the UK financial system
Secure an appropriate degree of protection for consumers
Promote effective competition in the interests of consumers
The FCA expects what two things to be included in management information to demonstrate whether a firm are treating customers fairly
A standard and a result
Inputs and Output
Profits and losses
Internal and external data
How many key outcomes do the FCA want dealerships to deliver on?
5
6
7
8
How many key pointers do the FCA provide regarding management information
3
4
5
6
What type of insurance business is Arnold Clark
An insurance intermediary
An insurance broker
An insurer
Arnold Clark is not an insurance company
A customer is purchasing a Value Range car at a cost of £4998 How much will VSI cost?
£4.99 a month
£8.99 a month
£12.99 a month
VSI cannot be purchased
Where do we find information on the rules and regulations of the FCA
The FCA Rulebook
The FCA Handbook
The FCA Management Information Centre
The FCA Training & Competence Programme
When will a customer who purchases a plan receive their membership docuument
At point of sale
Within 10 days of vehicle delivery
Between 3 and 7 weeks following vehicle delivery
Only Clark Plan customers receive a membership document
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