21. Conduct of business requirements 11

Question 1

Mortgage conduct of business (MCOB)

Answer 1

1: Application
2:COBS general
2a: Credit directives
3a:financial promotions and comms
3b: MCD general info
4+4a:Advising and selling standards

Question 2

Committed expenditure

Answer 2

repayments on credit agreements or other contractual arrangements

Question 3

Basic essential expenditure

Answer 3

Expenditure on food and other housekeeping

Question 4

Payment services regulations

Answer 4

payment services:
Banks
E-money
Merchants

Question 5

Money remitter

Answer 5

a payment service provider that accepts funds for payment without necessarily holding an account with either the payee or payer . it enables one party to send money to another using its services to get the money to the required destination

Question 6

Non-Bank Merchant acquires

Answer 6

A financial institution other than a bank that processes credit or debit card payments

Question 7

Payment system regulator

Answer 7

subsidary of FCA

• requirements
• give direction
• vary agreements

Question 8

Standards of Lending Practice

Answer 8

1. financial promotions
2. product sale
3. account management
4. Money management
5. financial difficulty
6. customer vulnerability

Question 9

requirements of lending

Answer 9

1. Financial promotions
2. Product sales
3. Account maintenance
4. Money management
5. Financial difficulty
6. Customer vulnerability
7. Governance oversight

Question 10

Categories of advice

Answer 10

basic advice
generic advice
focused advice 
simplified advice
robo advice