4. Record keeping & Sales process Test - 2026

Risk and Compliance Re-validation test for all Advisers.

Record Keeping & Sales Process

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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:

Record Keeping

Sales Process & Proposition

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* 4. SALES PROCESS. Is it a FCA requirement to inform customers of the cost of your services?

YES

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* 5. SALES PROCESS. Why is it important that we offer advice to our clients on both mortgages and insurances?

Because that is our product offering

We'll probably earn more money

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* 6. SALES PROCESS. When do we need to give the client an IPID?

When their mortgage completes

When we recommend a Buildings & Contents policy

If their life policy is rated by the insurer

We don't, as the providers will always do this

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* 7. SALES PROCESS. How many providers do we claim to have access to?

Those in the L&G Mortgage Club and on the PMS Zenith panel

In total, about 100 lenders and insurers

We're independent, so everyone out there

Over 100 lenders and 20 insurers

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* 8. SALES PROCESS. When discussing protection we recommended that you be assumptive, and explain that home insurance isn't optional, and that you should pitch protection whenever in your process, as long as it works! True or False?

TRUE

FALSE

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* 9. SALES PROCESS. Which of these did Matt NOT conclude with recommending that we be?

Be Curious

Be Confident

Be Human

Be Hungry

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* 10. RECORD KEEPING. Which of the following is NOT important concerning your Suitability Report?

Its length

Checking for spelling and grammar

Utilising our suggested paragraphs, or similar

Including soft facts to help justify your recommendation

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* 11. RECORD KEEPING. Which of the following timescales is correct?

14 working days for the Suitability Report to be sent to the client

7 working days for the Suitability Report to be sent to the client

5 working days for the Suitability Report to be sent to the client

10 working days for the Suitability Report to be sent to the client

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* 12. RECORD KEEPING. What did we say was important for debt consolidation cases?

Obtain evidence, challenge clients on the build-up, explore alternatives to adding debt to the mortgage

Challenge clients on the build-up, explore alternatives to adding debt to the mortgage, 2nd charge

Obtain evidence, challenge clients on the build-up, 2nd charge

Obtain evidence, explore alternatives to adding debt to the mortgage, consider interest only

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* 13. RECORD KEEPING. Which of the following statements was NOT mentioned?

If you are cancelling existing CIC, then you need a CIC comparison report

If you are recommending Income Protection, start with full cover and ski down to low cost cover if the premium is too high

When recommending CIC, start with our preferred provider

Life cover to match the mortgage is your initial protection recommendation

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* 14. RECORD KEEPING. What did we specifically mention about you needing to include additional notes to justify your recommendation?

Whenever you recommend a mortgage product transfer over a re-mortgage

When the product, i.e. the mortgage or the life cover, isn't the cheapest on the sourcing list

Why we have a preferred CIC provider

Why the BTL is Ltd Co over personal name