RIDDLES 1
A doctor and a bus driver are both in love with the same woman, an attractive girl named Sarah. The bus driver had to go on a long bus trip that would last a week. Before he left, he gave Sarah seven apples. Why?
An apple a day keeps the doctor away!
What is the FCA’s expectation regarding staff training for Anti-Money Laundering in 2024?
A) Training should occur every five years
B) Only senior management must be trained
C) Training should be regular, role-specific, and up-to-date
D) Staff training is not mandatory
C) Training should be regular, role-specific, and up-to-date
What is black when you buy it, red when you use it, and gray when you throw it away?
charcoal
In 2024, what does the Consumer Duty require firms to do regarding customer communication?
A) Use highly technical language to ensure precision
B) Provide communications that support customers in making informed decisions
C) Limit the number of communications to avoid overwhelming customers
D) Focus exclusively on verbal communication rather than written forms
B) Provide communications that support customers in making informed decisions
What is the maximum penalty for an individual convicted under the Bribery Act 2010?
A) A fine of up to £10,000
B) A five-year prison sentence
C) An unlimited fine and/or up to 10 years in prison
D) Community service and a small fine
C) An unlimited fine and/or up to 10 years in prison
What room do ghosts avoid?
The living room
In 2024, which of the following would be considered a red flag for money laundering according to the FCA?
A) A customer refusing to provide proof of identity for a high-value transaction
B) A customer making small, regular deposits into a savings account
C) A long-time customer opening a new account for investment purposes
D) A business transferring funds between two of its own accounts
A) A customer refusing to provide proof of identity for a high-value transaction
The more you take, the more you leave behind. What am I?
footsteps
Which of the following is one of the four outcomes the FCA expects from Consumer Duty compliance?
A) Higher bonuses for senior management
B) Products and services that are fit for purpose and provide fair value
C) Reduced consumer access to online services
D) Increased fees for all financial services
B) Products and services that are fit for purpose and provide fair value
Which of the following would NOT be considered a bribe under the Bribery Act?
A) Offering a payment to a foreign official to secure a contract
B) Providing a lavish gift to influence a decision
C) Paying for reasonable and proportionate hospitality within legal limits
D) Offering a reward to delay a competitor’s project
C) Paying for reasonable and proportionate hospitality within legal limits