Advising and Selling

Question 1

Key Information Documents

Answer 1

Advising or selling PRIIPs to retail clients

Provided before any transaction is concluded

Question 2

PRIIPs

Answer 2

Packaged Retail and Insurance Based Investment Products

Investment Funds

Insurance Based Investment Products

Retail Structure securities

Structured term deposits

Question 3

Key Feature Documents

Answer 3

Provided retail clients when selling packaged products falling outside of PRIIPs

• Packaged Products
• Cash Deposits ISAs
• Child Trust and Junior ISAs

Question 4

Packaged Products

Answer 4

Life Policy

Regulated CIS

Investment trusts savings scheme

Stakeholder / Personal Pension

Question 5

Cancellation Rights

Answer 5

Life Products and Pensions - 30 calendar Days

Other Products (ISAs) - 14 Calendar Days

Question 6

RDR

Answer 6

Retail Distribution Review

Standards professionalism providers of retail investment products

Minimum 35 hours CPD per year- 21 Structured

Question 7

Suitability

Answer 7

Sufficient info to offer advice

Retail Clients (all businesses)

Prof clients ( MIFID business)

Question 8

Churning

Answer 8

Overtrading in freely transferable investments

Question 9

Switching

Answer 9

Overtrading in packaged products

Question 10

Appropriateness

Answer 10

Non Advised complex products - Execution only

All Customers 
MIFID Business (RC + PC) + Direct Offers ( RC only)

Question 11

Non - complex financial instrument

Answer 11

Shares
Units in UCITS scheme
Money Market instruments