Revision

Question 1

Under statute, most insurers require that claims for riots, civil commotion and malicious damage must be notified within

Answer 1

7 days of the event

Question 2

Under the terms of the Riot compensation Act 2016 ( RCA) insurers may have the rights of recovery against the police for riot damage

Answer 2

But have only 42 days from the date of the riot to do so

Question 3

Under PRA ,Qualitative reports are required

Answer 3

Annually

Question 4

Under PRA, some quantities reports are required

Answer 4

Quarterly

Question 5

Which of the following penalties can be imposed on directors who are personally responsible failure to comply with the money laundering Act 2017

Answer 5

Imprisonment for upto 2 years

Question 6

FCA expects almost all complaints to have been substantially addresses through a firm ls final or written response within

Answer 6

Eight wks

Question 7

Under FCA rules, every complaint from an eligible complainant must be acknowledged

Answer 7

Promptly

Question 8

Insurers must account to HM Revenue & Customs (hmrc)

Answer 8

Quarterly

Question 9

All FCA authorised firms are required to report details of consumer complaints to the FCA

Answer 9

Twice yearly

Question 10

Under ICOBS rules, what is the usual cooling off period for most general insurance purchased in distance

Answer 10

14 days