FPC1 PRACTICE EXAM
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personalized success 2025
The offer of securities by any company must be accompanied
by a disclosure document.
What is an exception to this rule?
small-scale offerings
Suppose that Alana decided to purchase an income protection
insurance policy but then changed her mind.
Which of the following statement(s) would best describe her
ability to cancel this policy?
(i) For financial products, there is a mandatory cooling-off
period of 14 days.
(ii) The cooling-off period commences either when the
transaction for the
financial product is confirmed, or five days after the issue or
sale of the financial
product.
(iii) If Alana cancelled the policy, the insurance company would
be obligated
to repay her application money.
, (iv) Alana would lose the benefit of the cooling-off period if she
made a claim
on the policy during the cooling-off period.
Mechanisms for the government to pursue expansionary fiscal
policy?
- reducing taxation
- increasing government expenditure on goods and services
Which review or inquiry recommended the amendment of the
Corporations Act 2001 (Cth) to explicitly include a statutory
fiduciary duty to require financial advisers to place their clients'
interests ahead of their own?
Ripoll Inquiry
Which organisation was responsible for implementing the Basel
II Capital adequacy requirements in Australia?
Australian Prudential Regulatory Authority
Objective of the Financial Adviser Standards
and Ethics Authority (FASEA)?
- making a code of ethics for relevant providers and
administering an exam
study set with 100% verified solutions-
personalized success 2025
The offer of securities by any company must be accompanied
by a disclosure document.
What is an exception to this rule?
small-scale offerings
Suppose that Alana decided to purchase an income protection
insurance policy but then changed her mind.
Which of the following statement(s) would best describe her
ability to cancel this policy?
(i) For financial products, there is a mandatory cooling-off
period of 14 days.
(ii) The cooling-off period commences either when the
transaction for the
financial product is confirmed, or five days after the issue or
sale of the financial
product.
(iii) If Alana cancelled the policy, the insurance company would
be obligated
to repay her application money.
, (iv) Alana would lose the benefit of the cooling-off period if she
made a claim
on the policy during the cooling-off period.
Mechanisms for the government to pursue expansionary fiscal
policy?
- reducing taxation
- increasing government expenditure on goods and services
Which review or inquiry recommended the amendment of the
Corporations Act 2001 (Cth) to explicitly include a statutory
fiduciary duty to require financial advisers to place their clients'
interests ahead of their own?
Ripoll Inquiry
Which organisation was responsible for implementing the Basel
II Capital adequacy requirements in Australia?
Australian Prudential Regulatory Authority
Objective of the Financial Adviser Standards
and Ethics Authority (FASEA)?
- making a code of ethics for relevant providers and
administering an exam
