Qualified Financial Adviser (QFA) Regulations Exam 1 Practice Test

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Which of the following is a consumer for Distance Marketing Regulations?

A A charity investing in a lump sum investment bond.

B A self-employed plumber taking out a Personal Pension Plan.

Distance Marketing Regulations apply when a consumer purchases financial services at a distance. A consumer is a natural person acting for purposes outside their trade, business, or craft. The self-employed plumber buying a Personal Pension Plan is purchasing for his personal retirement, not for his plumbing business, so he qualifies as a consumer. The other scenarios involve entities or business purposes (a charity, a business loan for equipment, or fleet insurance for a company), which are not consumers under these rules. Hence, the plumber’s case is the one that fits Distance Marketing Regulations.

C A self-employed dentist taking out a loan to buy dental equipment.

D A company with an annual turnover of €2 million taking out car insurance for its fleet.

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