Which of the following individuals, who work for ABC Life Co, are subject to the Central Bank's Minimum Competency Standards? (i) A personal financial adviser. (ii) The claims manager. (iii) The complaints manager.

• A. (ii) only.
• B. (iii) only.
• C. (i) and (iii) only.
• D. (i), (ii) and (iii).

Answer: (D)

Minimum Competency Standards apply to anyone at a regulated firm who performs regulated activities or can influence the outcome for a consumer. A personal financial adviser clearly fits, since giving financial advice and recommendations to clients is a regulated activity and requires a baseline level of knowledge and professional conduct.

A claims manager also falls under these standards because handling claims and decisions on coverage directly affects customers and policy outcomes. Even though they aren’t giving advice, their role shapes the service customers receive and requires understanding of product terms and regulatory expectations.

The complaints manager is included as well because handling and resolving complaints impacts consumer protection and regulatory compliance. Ensuring they meet the minimum competency helps guarantee fair, accurate, and consistent responses to customers.

Since each of these roles involves interaction with customers and potential regulatory implications, all three are subject to the Central Bank's Minimum Competency Standards.