The Consumer Protection Code requires an insurance intermediary to keep records of a fact find for what minimum period after completion?

• A. A 3 years.
• B. B 5 years.
• C. C 6 years.
• D. D 7 years.

Answer: (C)

The important idea here is how long an insurance intermediary must retain a client’s fact-find records after a transaction is finished. Under the Consumer Protection Code, the minimum retention period is six years after completion of the insurance arrangement. This ensures there is a retrievable record of the client’s needs, the advice given, and the rationale for that advice, which supports any future questions, complaints, or regulatory checks. The options of three, five, or seven years don’t meet the Code’s standard, which specifically sets six years as the required minimum. In practice, treat this as six years from the completion of each completed transaction, and keep the records securely and accessible for that entire period.