11 - Ethics and Professional Standards Flashcards Preview

CII: R01 2020-21 > 11 - Ethics and Professional Standards > Flashcards

Flashcards in 11 - Ethics and Professional Standards Deck (7)
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1

What were the primary objectives of RDR?

Retail Distribution Review
- removing commission bias
- improving professional standards
- simplify consumer advice routes

2

real time vs non-real time promotion

real time
-interactive dialogue e.g. in person / phone call
-can't be made at an unsociable hour
-no shelf life

non real time
-tends to be written e.g. flyer/advert

3

what are exempt from client agreements?

-direct offer promotions
-life offices selling life and pension policies as a principal

4

what are exempt from client agreements?

-direct offer promotions
-life offices selling life and pension policies as a principal

5

what is the cancellation policy on opening a cash ISA?

14 days

6

what is the cancellation policy on opening a cash ISA?

14 days

7

what are acceptable limitations to a firm's expertise?

- reliance on client information
- reliance on others
- insufficient information / evidence