unit 24 Flashcards
What powers does the pensions regulator have in relation to non- compliance by pension schemes?
A) The power to impose fines and penalties
B) The power to close pension schemes
c) The power to close pension schemes
D) the power to directly manage pension funds
A)
What must pension scheme trustees do to comply with the pensions Regulator’s Governance standards?
A) Provide investment advise to members
B) Conduct regular risk assessments and maintain records
c) guarantee investment returns to members
d) consult member on all investments decisions
b)
Which of the following is a requirement for employers under the auto-enrolment legislation?
a) to provide pension benefits to all employees regardless of age
b) to automatically enroll eligible employees into a pension scheme
C) to match employee contributions at a rate 50%
d) to allow employees to opt out of any pension scheme
B
Which of the following in classified as a special category of personal data under GDPR?
A) email address
B) employment History
C) Genetic data
D) Phone number
C)
what is a key requirement for processing special categories of personal data?
A) general consent from the individual
B) Explicit consent from the individual
C) no consent is required
D) consent from a third party
B)
under the General Data protection regulation GDPR which of following is NOT one of the key principles of data protection?
a) lawfulness fairness and transparency
b) purpose limitation
c) data portability
d) data minimization
c)
Then pensions regulator’s main role is to
a) provide the uk workplace pension schemes to protect members
b) provide financial advise to consumer
c) manage pension funds for retirees
d) determine the eligibility for the state pension
B)
What is the maximum compensation limit provided by the pension fund PPF if an employers pension scheme fails?
a) 50% of the pension pot
b) 90% of pension entitlements for Individuals below retirement age
c)100% of the pension pit for everyone
d) 75% of the total pension pot
b)
Which directive focuses on enhancing transparency and investor protection within financial markets in the EU?
a) solvency 2 directive
b) insurance distribution directive DD
c) MIfID 2 ( markets in financial instruments directive 2
d) general data protection regulation (GDPR)
c)
What is a key objective of the insurance Distribution directive IDD?
a) To prevent the sale of life insurance
b) to ensure consistent standards in the sale of insurance product and improve consumer protection
c) to regulate health insurance only
d) to set standard premium rates for all insurance policies
b)
Under GBPR what is required before processing special categories of personal date (such as health or radial data?
a) consent from the data subjects employer
b) explict consent from the individual or a specific legal basis
c) Notification to the information commissioners office (ICO)
d) no specific consent is needed for special categories
b)
