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Financial services and Accounting Regulators in THE UK

Quiz by Mukesh Virk

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10 questions
Show answers
  • Q1
    Which regulatory body is primarily responsible for overseeing accounting standards in the UK?
    The Prudential Regulation Authority (PRA)
    Financial Reporting Council (FRC)
    Bank of England
    Financial Conduct Authority (FCA)
    30s
  • Q2
    What is the main purpose of the Financial Conduct Authority (FCA) in the UK?
    To oversee the taxation of financial institutions
    To protect consumers and ensure the integrity of the financial markets
    To promote international trade agreements
    To regulate the monetary policy of the Bank of England
    30s
  • Q3
    Which of the following is NOT a function of the Prudential Regulation Authority (PRA)?
    Ensuring the safety and soundness of banks
    Supervising investment firms
    Regulating insurance companies
    Conducting market research for investment products
    30s
  • Q4
    Which of the following is the regulatory body responsible for setting audit standards in the UK?
    The Financial Conduct Authority (FCA)
    The Prudential Regulation Authority (PRA)
    The Financial Reporting Council (FRC)
    The Bank of England
    30s
  • Q5
    What is the primary goal of the Financial Ombudsman Service in the UK?
    To audit financial statements of companies
    To resolve disputes between consumers and financial services firms
    To provide investment advice to consumers
    To regulate interest rates in the UK
    30s
  • Q6
    Which UK regulator is responsible for ensuring the soundness and stability of banks and building societies?
    Financial Conduct Authority (FCA)
    Financial Reporting Council (FRC)
    Bank of England
    Prudential Regulation Authority (PRA)
    30s
  • Q7
    Which of the following bodies ensures that financial markets operate in a fair and transparent manner in the UK?
    Financial Conduct Authority (FCA)
    Prudential Regulation Authority (PRA)
    Financial Reporting Council (FRC)
    Bank of England
    30s
  • Q8
    Which organization in the UK is responsible for promoting transparency and good corporate governance among publicly listed companies?
    Financial Reporting Council (FRC)
    Prudential Regulation Authority (PRA)
    Competition and Markets Authority (CMA)
    Financial Conduct Authority (FCA)
    30s
  • Q9
    What is the role of the Competition and Markets Authority (CMA) in the UK's financial services sector?
    To oversee accounting standards
    To provide grants to financial institutions
    To promote competition and prevent anti-competitive practices
    To set interest rates for banks
    30s
  • Q10
    Which UK regulatory body is tasked with overseeing the activities of investment firms and ensuring they operate in the best interests of consumers?
    Financial Reporting Council (FRC)
    Prudential Regulation Authority (PRA)
    Financial Conduct Authority (FCA)
    Competition and Markets Authority (CMA)
    30s

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