Financial Conduct Authority Guidance Quiz

Risk-based and proportionate (correct)

One-size-fits-all

Highly prescriptive without flexibility

Non-existent

To limit the availability of payment services

To ensure consumer protection and promote competition in the interests of consumers (correct)

To maximize profits for financial institutions

To restrict the use of electronic money

It ensures customer funds are protected in the event of insolvency or misappropriation (correct)

It allows firms to freely use customer funds for their own investments

It exempts firms from any financial responsibility

It is an unnecessary burden on firms