1. Complaints, Conduct rules & Breaches Test - 2026

Risk and Compliance Re-validation test for all Advisers.

Complaints, Conduct Rules & Breaches

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* 1. Your name

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* 2. Your email address

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* 3. ATTESTATION. Before completing this test, please confirm that you have watched the learning material for the following subjects:

Conduct Rules & Breaches

Complaints

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* 4. COMPLAINTS. If a complaint cannot be resolved within 3 working days, what is the regulatory maximum timeframe for the firm to investigate and provide its Final Response Letter?

5 working days

4 weeks

As long as it takes, provided the client is updated.

8 weeks

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* 5. COMPLAINTS. The nature of recent complaints suggests a need for mindfulness regarding which two Consumer Duty outcomes?

Products & Service and Price & Value

Price & Value and Consumer Support

Consumer Understanding and Consumer Support

Products & Service and Consumer Understanding

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* 6. COMPLAINTS. What specific advice is given regarding emails that contain 'ideas and options on rates' to avoid potential misunderstandings?

To require the client to reply with a confirmation that they understood it's not advice

To include a caveat that the email is for information only and does not constitute advice

To avoid mentioning specific lender names until the research is complete

To only send such information in a formal Suitability Report

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* 7. COMPLAINTS. What is the Financial Ombudsman Service (FOS) fee for investigating a case, and who pays it?

£2,500, paid by the adviser/firm irrespective of the outcome

£500, paid by the client if their complaint is refuted

£650, paid by the adviser/firm only if the complaint is upheld

£650, paid by the adviser/firm irrespective of the outcome

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* 8. COMPLAINTS. Under which of the following circumstances could an Adviser's Professional Indemnity (PI) insurance cover be declined?

If the complaint is for a very large sum, such as £30,000

If the client rejects a settlement offer and goes to the FOS

If the Adviser fails to add the case to the Acre system

If the Adviser admits liability to the client before reporting the complaint

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* 9. BREACHES. An adviser consistently fails to upload Suitability Reports within the required timescale. This repetitive action could lead to a breach of which FCA Conduct Rule for the adviser?

Proper standards of market conduct

Integrity

Being open with the regulators

Due skill, care and diligence

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* 10. COMPLAINTS. Regarding insurance applications, what proactive step is suggested to ensure clients have fully considered their medical history and to protect the adviser?

Rely solely on the insurer's post-application communication with the client

Record a note on the file confirming that all medical questions were asked correctly

Send the client a copy of their application answers and ask for email confirmation of their accuracy

Only accept clients who can provide a clean bill of health from their doctor

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* 11. BREACHES. What is the specified timescale for issuing a Suitability Letter to a client after giving advice?

15 working days

10 working days

As soon as the application is submitted

5 working days

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* 12. CONDUCT RULES. If an Adviser knowingly helps a client falsify documents for a mortgage application, this would be a breach of which FCA Conduct Rule?

Paying due regard to your clients interests

Being open with the regulators

Integrity

Due skill, care and diligence

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* 13. BREACHES. What is the most frequently recorded type of breach in 2025?

Data Protection

Advertising

Record Keeping

Sales Process

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* 14. ADVERTISING. Which of these statements are correct concerning Social Media posts?

As it is social media, these do NOT need to be approved, meaning I can post my thoughts on any of the platforms

Social Media post MUST be approved by Finance Planning, in the same way that all other forms of advertising are approved

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* 15. CONDUCT RULES. What statement best describes the FCA Conduct Rules?

There are just 5 Conduct Rules

There are 5 Conduct Rules for staff/advisers, plus a 6th Conduct Rule concerning Consumer Duty, plus 4 Senior Manager Conduct Rules

There are 12 Conduct Rules in total

The Consumer Duty Conduct Rule has replaced some of the existing Conduct Rules