The Enhance Treating Customers Fairly quiz is a simple examination tool to be used in conjunction with staff training to help improve and deliver our policy regarding TCF.
Questions and Answers
1.
What does TCF stand for?
A. 
Treating cats fairly
B. 
Treating Customers Fairly
C. 
Treating consumers Fairly
D. 
Tackling compliance first
2.
Treating Customers Fairly (TCF) is the practical realisation of one of the FSA’s core principles: “A Firm must pay due regard to the interests of its customers and treat them fairly.”
A. 
True
B. 
False
3.
The FSA have defined ____ consumer outcomes expected from a firm in the course of Treating Customers Fairly (TCF). These will be used as the FSA monitors TCF against the life cycle of each product. Please fill in the gap!
4.
Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint. Which consumer outcome is this?
A. 
Outcome 3
B. 
Outcome 2
C. 
Outcome 5
D. 
Outcome 6
5.
TCF is about a culture - doing business in a way that will help ensure customers get fair treatment.
A. 
True
B. 
False
6.
TCF is about a culture - doing business in a way that will help ensure customers spend more money with us and make us a bigger company.
A. 
True
B. 
False
7.
CTCF does not mean:
creating satisfied customers; a satisfied customer could still be treated unfairly and not know it
that every firm must offer an identical level of service – the FSA recognises that businesses have different resources and ways of doing things
that the FSA has the final say on which products consumers should want or be sold
that customers are no longer expected to make decisions or take responsibility for them
A. 
True
B. 
False
8.
Correct and appropriate sales benefit both you and your customer, leading to:
a fairer deal for customers
reduced fall-out rates
increased customer loyalty
customers recommending you to others
reduced cases of arrears
less time spent dealing with complaints
MI reflecting all of the above, which is likely to result in fewer FSA visits
a reduced risk of enforcement action by the FSA
A. 
True
B. 
False
9.
All staff should be aiming to treat all customers fairly and equally. We should strive to provide correct information at the start, during and end of the sales process.
A. 
True
B. 
False
10.
As part of TCF you need to be able to demonstrate that:
our customer can afford any loan you recommend (whether Full Status or Self Certification) – for the life of the loan
the recommended product is suitable for the customer based on their needs and attitude to risk
the product chosen was the most suitable from the available options
A. 
True
B. 
False
11.
We are not regulated by the FSA we don't need to worry about Treating customers Fairly!
A. 
True
B. 
False
12.
I have a customer complaining to me, should I?
A. 
Not tell anyone
B. 
Tell the person who sits next to me
C. 
Log it as a compliant In my note book on my desk
D. 
Inform my line manager that a complaint has been made
13.
A customer wants to know about who we are and what we do. You tell them? Multiple answers
A. 
We are a loan broker
B. 
We are a lender
C. 
We don't deal with poor credit lending
D. 
We would never put you on debt management
E. 
We are a financial solutions broker we will make sure we match you with the best product most suited to your circumstances
F. 
Exactly what they want to here
14.
Treating customers Fairly is not my responsibility!
This quiz is to test your ability to distinguish a consumer from a customer as per the provisions of the consumer protection act 1986. Customers can be classified as consumers and clients depending on the purpose for which the...
Questions: 5 | Attempts: 7454 | Last updated: Mar 21, 2022
Sample Question
Your father bought life insurance and placed you as the nominee. Due to an unfortunate incident he passed away, entitling you to claim insurance. When you approached the insurance company, they deny you the insurance based on a technical error that they claim that your father made. Since your father bought the insurance and paid the premiums himself and you are only a nominee of the insurance claim, can you approach the consumer court as a wronged consumer?
Test your knowledge and understanding of customer centricity by giving appropriate answers to the questions asked here in this quiz. Do you know what the true meaning of customer-centricity is? It means putting the customer first...