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if 1 insurance , legal and regulatory > Ch : 11 Consumer Protection And Dispute Resolution > Flashcards

Ch : 11 Consumer Protection And Dispute Resolution Flashcards

1
Q

Data Protection Law Act 2018

A

Dpa 2018 came into effect in the UK in May. To coincide with the implementation of the gdpr and the law enforcement directive (led).It aims to modernise the UK data protection laws to ensure its effective in the years to come.

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2
Q

What age parental consent is not needed to process data online

A

At the age 13

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3
Q

Fines on data controllers and processors for most serious data breach

A

Being upto £17.5 m or 4% of annual global turnover

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4
Q

UK GDPR applies to controllers and processors based

A

Outside the UK if their processing activities relate to offering goods or services to individuals in the UK. Or monitoring the behaviour of individuals in the UK

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5
Q

Who does the GDPR apply to

A

Applies to controllers and processors in the EU

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6
Q

Who are not relieved of their objectivities where processor is involved

A

Controllers

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7
Q

What information does the GDPR apply to

A

Personal Data

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8
Q

IP address can be which data

A

Personal Data

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9
Q

GDPR refers to …..as special categories of personal data

A

Sensitive personal data

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10
Q

Sensitive personal data includes

A

1.HEALTH
2.ETHNIC ORIGIN
3.RELIGION
4.SEX LIFE
5.SEXUAL ORIENTATION
6.POLITICS
7.GENETICS
8.RACE
9.trade Union membership
10.BIOMETRICS

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11
Q

GDPR applies to to both automated personal data and

A

To manual filing system

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12
Q

Under the GDPR who set out the main responsibilities for organisations

A

The data protection principles

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13
Q

For processing to be lawful under the GDPr. Firms need to identify ehay before they can process personal data and document

A

A lawful basis

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14
Q

Rights under GDPR

A

the right to be informed
The right to access
The right to rectification
The right to erasure
The right to restrict processing
The right to data portability
The right to object
The right in relation to automated decision making and profiling

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15
Q

Full form of SAR

A

Subject access request

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16
Q

Good practice tools such as

A

Privacy impact assessment and privacy by design are now legally required in certain circumstances

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17
Q

What is more significant under the GDPR

A

Accountantability and transparency

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18
Q

UTCCRs

A

The unfair terms in Consumers Contracts Regulations 1999

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19
Q

Consumers Rights Act 2015

A

Consolidates and clarifies existing consumer legislation on unfair contract terms

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20
Q

Which provision covers both consumer contracts and consumer notices

A

Consumer rights act 2015

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21
Q

What is a term being transparent

A

If its expressed in plain and intelligible language and ( in the case of a written term) is legible

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22
Q

What a term being prominent means

A

If its brought to the consumer ls attention in such a way that an avg consumer would b aware of the term.

23
Q

What is average consumer as per the act

A

As a consumer who is reasonably well informed observant and circumspect

24
Q

In order to avoid being considered for fairness those terms must be

A

Transparent and prominent

25
Q

Indicative list that may be regarded as unfair

A

They are reffered as grey list

26
Q

Who require an undertaking to amend the term if an insurer has been found to use policies containing unfair terms or has been found to breach consumer

A

Competition and Markets Authority ( CMA ) or the FCA

27
Q

The subject of ethics is tied up with issues of

A

Morality

28
Q

Ethical standards are concerned with

A

Behaviour and conduct

29
Q

All professional bodies produce a code ,often described as a

A

Code of conduct

30
Q

Codes of conduct applies to

A

Individuals as a result of their membership of a professional body

31
Q

Who have their own codes to which members subscribe on a voluntary basis

A

Trade bodies

32
Q

CII code of ethics represents

A

A set of ethical principles for insurance and financial services professionals worldwide

33
Q

What can help to promote standards and public trust

A

Adoption and adherence

34
Q

Cii is concerned with

A

Attitude and behaviour

35
Q

Cii has produced 2 companies to the code

A

Digital ethics
Financially inclusive customer outcomes

36
Q

Ciis aim.

A

To make the code more of a living document that individuals will read and consult regularly

37
Q

What Is a key theme of the FCA and of the code

A

Fair treatment of clients

38
Q

Which arrangements may often be the only effective means of being fair and of being seen to be fair to each client

A

Arms length arrangements

39
Q

Is a key quality ensuring those supervised are properly motivated and trained

A

Approachability

40
Q

What means having the skills, knowledge ans expertise needed to discharge the responsibilities of the employees role

A

Competence

41
Q

FCA states 3 keys areas of trainning and competence that all firms need to consider

A

Assessing competence
Maintaining competence
Record keeping

42
Q

FCA relies upon its high level rules to provide the framework and principles for

A

Trainning and competence

43
Q

FCA requires that records of training and assessment of competence must be kept for at least how long

A

3 yrs from the time that the employees ceased to carry out that role.

44
Q

FCA regulation is concerned with 2 categories of complainant

A

Eligible and non eligible

45
Q

Who imposes requirements on both insurers and reinsurers in respect of dispute resolution

A

IDD ( Insurance Distribution Directive )

46
Q

List of Eligible complainant

A

Consumer
Micro- enterprise
Charity with an annual income of less than £ 6.5m
Trustee of a trust with a net asset value of less than £5 m
Consumer buy to let (CBTL) consumer
Small business atvtge time the complainant refers the complaint to the respondent : or
Guarantor

47
Q

All complaints files must be retained for at least

A

3 years from.the date the compliant was received

48
Q

Within how many days a firm must provide a response

A

Within 8 wks of receiving complaint

49
Q

Which organisation will become involved if an insurance Co is unable to pay its claims

A

FSCS ( financial services compensation scheme )

50
Q

Maximum award the FOS can require a firm to make to a complainant changed on 1 April 2019

A

£355,000 that occurred on or after 1st April 2020
£350,000 that occurred on or after April 2019
£160,000 that occurred before 1st April 2019

51
Q

When considering an insurance contract , the consumer rights act 2015 applies to individuals and

A

Insurers

52
Q

Under FSCS , what is the total percentage of a compulsory TP motor insurance claim may compensation be provided

A

100%

53
Q

How is FSCS is funded

A

By a levy on all authorised forms who receive an income from eligible claimants

if 1 insurance , legal and regulatory (13 decks)

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