PruAdviser on-line services will be unavailable from 16:00 on Saturday 11 December until 12:30 on Sunday 12 December for website maintenance.
Currently we are not able to show some detailed information for Retirement Account performance for clients. This will be restored on 13 December 2021. We're sorry for any inconvenience this causes.

Future-proofing your pension advice processes

Check your answers

1. A key area of concern from the regulator in knowing your client relates to MIGs, this stands for:

a. A well-known fighter jet

b. Minimum income guarantees

c. Maximum information gathered

d. Material Information Gaps

 

2. When considering needs versus wants, the regulator wants you to consider expenditure in what categories?

a. Essential, lifestyle, discretionary

b. Need, must have, want

c. Savings, investments, tax liability

d. Current expenditures, future expenditure, unknown expenditure

 

3. A client’s capacity for loss is described as?

a. The client’s emotional and behavioural response

b. The client’s ability to bear a financial loss

c. How much risk they’re prepared to take

d. How much money they should set aside in cash

 

4. What is the regulator’s view on cashflow modelling tools?

a. It is mandatory

b. You must use a deterministic modeller

c. It is not mandatory

d. You must use a stochastic modeller

 

5. Which of the following statements is not true?

a. The risks of drawdown sit with the client

b. It is the responsibility of the adviser to ensure the client understands the risks associated with drawdown

c. Advised clients must assess the risk and demonstrate their understanding to the adviser

d. The adviser must demonstrate client understanding on the file

 

CPD certificate

Before collecting your certificate please take a moment to provide us feedback on this session, please email prudential.distribution.team@prudential.co.uk

Complete the form below and we’ll email your CPD confirmation to you. Please use the email address that you would usually use when making contact with us.

"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at Craigforth, Stirling FK9 4UE. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company. The Prudential Assurance Company and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc, a company incorporated in the United Kingdom. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.