Senior Manager Role Quiz
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Questions and Answers

Which of the following is NOT a potential consequence of poor management by senior managers?

  • Poor supervision of staff
  • Inappropriate advice
  • Effective risk assessment (correct)
  • Inadequate training

    • What is the role of senior managers in relation to the fair treatment of customers?

  • They are responsible for setting customer service standards
  • They are responsible for providing leadership in this area (correct)
  • They are responsible for conducting customer surveys
  • They are responsible for handling customer complaints

    • What is the purpose of the Senior Managers and Certification Regime (SM&CR)?

  • To prevent risks to the firm and its customers (correct)
  • To provide training to senior managers
  • To assess the type of business undertaken by the firm
  • To ensure adequate supervision of staff

    • Which of the following areas should senior managers consider in their overview of the business?

    <p>Providing leadership</p> Signup and view all the answers

    What is the potential consequence of poor management by senior managers on the rest of the business processes?

    <p>Inadequate risk assessment</p> Signup and view all the answers

    Which of the following is the main function of banks and building societies?

    <p>To turn short-term savings into longer-term lending</p> Signup and view all the answers

    What is the purpose of National Savings and Investments?

    <p>To provide a fund for government borrowing</p> Signup and view all the answers

    Why did the capital markets develop?

    <p>To meet the need for investors to invest in assets that provide real growth</p> Signup and view all the answers

    What is the principle of insurance and risk management?

    <p>To protect and safeguard assets from damage or loss</p> Signup and view all the answers

    What is the role of private individuals in funding government borrowing?

    <p>To provide a fund for government borrowing</p> Signup and view all the answers

    What is the purpose of National Savings and Investments?

    <p>To fund government borrowing</p> Signup and view all the answers

    Which of the following is NOT considered a key component within the financial sector?

    <p>Financial infrastructure</p> Signup and view all the answers

    Which government body is responsible for the regulation of the financial services market?

    <p>HM Treasury</p> Signup and view all the answers

    What are the key legal instruments governing the financial services industry?

    <p>Financial Services and Markets Act 2000 and the Financial Services Act 2012</p> Signup and view all the answers

    What is the main difference between fully independent financial advisers and restricted advisers?

    <p>Fully independent financial advisers can offer advice on all retail investment products, while restricted advisers cannot</p> Signup and view all the answers

    Which of the following is NOT a responsibility of the Treasury?

    <p>Overseeing the Bank of England</p> Signup and view all the answers

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