Chapter 7 Notes

Question 1

Client agreements are not required for:

Answer 1

• Direct offer financial promotions; and
• Life offices (who exclusively or predominantly sell life and pensions) selling life and pension policies as a principle

Question 2

Records of client agreements must be kept for:

Answer 2

• five years;
  or 
- the duration of the relationship with the client;
  or 
- in the case of a record relating to a pension transfer, pension opt-out or FSAVC, indefinitely.

Question 3

Best execution mainly applies to firms dealing in:

Answer 3

Stocks and Shares

Question 4

Best execution does not apply to:

Answer 4

Life or pension contracts or collective investment schemes.

Question 5

Execution only sales are rate in what products?

Answer 5

• Life and pensions