Enhance Treating Customers Fairly

14 Questions | Total Attempts: 690

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Enhance Treating Customers Fairly

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!
    • A. 

      True

    • B. 

      False

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