100+ Free ICA Specialist Certificate in Conduct Risk Practice Questions

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Key Facts: ICA Specialist Certificate in Conduct Risk Exam

Official MCQ Items

ICA Specialist Certificate assessment guidance

70%

Pass Mark (18/25)

ICA FAQs

1 hour

Exam Duration

ICA / GTA course pages

£765

Course Fee (GBP)

int-comp.org

£195

Membership Fee (GBP)

int-comp.org

ICA CPD Hours

ICA course page

ICA Specialist Certificate in Conduct Risk: online self-study (~4 weeks typical; up to 2 months access), assessed by a 1-hour 25-question MCQ exam with a 70% pass mark (18/25). Course £765 plus £195 membership if needed. This free bank offers 100 practice MCQs on conduct fundamentals, GRC, customer/market outcomes, SMCR, complaints/vulnerability and GDPR.

Sample ICA Specialist Certificate in Conduct Risk Practice Questions

Try these sample questions to test your ICA Specialist Certificate in Conduct Risk exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1What is the primary focus of the ICA Specialist Certificate in Conduct Risk?

A.Understanding good conduct for firms and customers, conduct risk within GRC frameworks, and conduct in practice including SMCR, GDPR, complaints and vulnerable customers

B.Only calculating capital requirements under Basel III

C.Only mastering tax compliance under HMRC self-assessment rules

D.Only preparing IFRS financial statements for listed companies

Explanation: The ICA course focuses on good conduct for firms and customers, conduct risk in GRC frameworks, customer and market outcomes, and practical regimes such as SMCR, GDPR, complaints handling and vulnerable customers.

2In UK financial services, conduct risk is best described as the risk of:

A.Only the risk that interest rates will rise faster than expected

B.Harm to customers, markets or the firm arising from the way the firm and its staff behave or design and deliver products and services

C.Only the risk of a data centre hardware failure

D.Only the risk that a counterparty defaults on a loan

Explanation: Conduct risk concerns how behaviour, culture, product design and delivery can harm customers, markets or the firm — distinct from pure market, operational IT, or credit risk.

3Which UK regulator has primary responsibility for conduct of business regulation for most FCA-authorised firms?

A.HM Revenue & Customs (HMRC)

B.The Competition and Markets Authority alone for all FS conduct rules

C.The Financial Conduct Authority (FCA)

D.The Bank of England Monetary Policy Committee

Explanation: The FCA is the UK conduct regulator for authorised firms. The PRA focuses on prudential soundness of dual-regulated firms; HMRC and the MPC have different remits.

4The development of the modern UK 'conduct agenda' after the financial crisis particularly emphasised:

A.Eliminating all regulation of retail financial services

B.Replacing all conduct rules with voluntary industry marketing codes only

C.Abolishing the need for authorised firms to have compliance functions

D.Customer outcomes, culture, accountability and fair treatment rather than box-ticking compliance alone

Explanation: Post-crisis conduct regulation shifted toward outcomes, culture and personal accountability (including SMCR and later Consumer Duty), not deregulation or removing compliance.

5Which statement best reflects a 'core component' of conduct risk management in a firm?

A.Identifying how products, sales practices, incentives and culture can create customer or market harm, then controlling those drivers

B.Focusing exclusively on the firm's share price performance

C.Ignoring front-line behaviour if policies exist on the intranet

D.Measuring only IT system uptime as the conduct KPI

Explanation: Conduct risk management looks at drivers of harm — products, practices, incentives and culture — and puts controls and monitoring around them.

6Treating Customers Fairly (TCF) historically framed six consumer outcomes. Under the Consumer Duty, firms must primarily:

A.Treat legacy products as outside the Duty if they were first approved before 2010

B.Act to deliver good outcomes for retail customers, supported by cross-cutting rules and four outcome areas

C.Guarantee every retail customer a profit on every product

D.Replace all product disclosure with word-of-mouth only

Explanation: Principle 12 and the Consumer Duty require firms to act to deliver good outcomes for retail customers, with cross-cutting rules and four outcomes — building on, and raising standards beyond, earlier TCF themes.

7FCA Principle 12 (the Consumer Duty principle) requires a firm to:

A.Maximise short-term revenue regardless of customer impact

B.Act only in the interests of wholesale counterparties

C.Act to deliver good outcomes for retail customers

D.Deliver good outcomes only for institutional investors

Explanation: Principle 12 states that a firm must act to deliver good outcomes for retail customers where the Duty applies.

8How many cross-cutting rules sit under the FCA Consumer Duty (PRIN 2A.2)?

A.One: publish an annual marketing brochure

B.Five: including a mandatory fee freeze on all products

C.Zero: the Duty has outcomes only and no cross-cutting rules

D.Three: act in good faith; avoid causing foreseeable harm; enable and support retail customers to pursue their financial objectives

Explanation: There are three cross-cutting rules under Principle 12: good faith, avoid causing foreseeable harm, and enable customers to pursue their financial objectives.

9Which of the following is NOT one of the four FCA Consumer Duty outcomes?

A.Guaranteed investment returns for all retail customers

B.Products and services

C.Price and value

D.Consumer understanding

Explanation: The four outcomes are products and services, price and value, consumer understanding, and consumer support. Guaranteed returns are not an outcome.

10The Consumer Duty 'price and value' outcome expects firms to ensure that:

A.Every product is free of charge

B.The price a retail customer pays is reasonable relative to the benefits of the product or service

C.Firms never compete on price

D.Only the most expensive product in a range may be sold

Explanation: Fair value means the price is reasonable relative to benefits; it does not require free products or ban competition.

About the ICA Specialist Certificate in Conduct Risk Exam

The ICA Specialist Certificate in Conduct Risk is a focused online qualification covering what good conduct looks like for firms and customers, conduct risk in GRC frameworks, customer and market outcomes, and conduct in practice — including the UK Senior Managers and Certification Regime (SMCR), GDPR, complaints handling and vulnerable customers. It is awarded in association with Alliance Manchester Business School, University of Manchester.

Assessment

Online self-study Specialist Certificate (average ~4 weeks; up to 2 months access). Assessed by a one-hour online multiple-choice exam on the ICA Learning Hub. Qualification designation Spec.Cert(Conduct); 20 ICA CPD hours listed on the course page.

Time Limit

One hour (60 minutes)

Passing Score

70% (18 of 25)

Exam Fee

£765 course + £195 membership (if required) (International Compliance Association (ICA))

ICA Specialist Certificate in Conduct Risk Exam Content Outline

17%

Conduct agenda and fundamentals

Conduct agenda development, core conduct risk components, Consumer Duty Principle 12, cross-cutting rules and four outcomes.

17%

Conduct risk in GRC frameworks

Embedding conduct risk in GRC: controls, MI, product governance, conflicts, culture metrics and regulatory enforcement context.

17%

Customer and market outcomes

Good conduct for customers and markets, outcomes-based approaches, fair value/understanding, and impacts of poor conduct.

17%

SMCR and accountability

Senior Managers Regime, Certification, Conduct Rules, Statements of Responsibilities and reasonable steps accountability.

16%

Complaints and vulnerable customers

DISP timelines, fair complaint handling, FOS escalation, vulnerability drivers and reasonable adjustments.

16%

GDPR and data protection

UK GDPR lawful bases, rights, breaches and privacy-by-design as they relate to customer harm and conduct risk.

How to Pass the ICA Specialist Certificate in Conduct Risk Exam

What You Need to Know

Passing score: 70% (18 of 25)
Assessment: Online self-study Specialist Certificate (average ~4 weeks; up to 2 months access). Assessed by a one-hour online multiple-choice exam on the ICA Learning Hub. Qualification designation Spec.Cert(Conduct); 20 ICA CPD hours listed on the course page.
Time limit: One hour (60 minutes)
Exam fee: £765 course + £195 membership (if required)

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

ICA Specialist Certificate in Conduct Risk Study Tips from Top Performers

1Map each syllabus bullet (conduct agenda, firm/customer good conduct, outcomes, market conduct, SMCR) to a short revision note before drilling MCQs.

2Memorise Consumer Duty structure: Principle 12, three cross-cutting rules, and four outcomes — these recur across conduct risk questions.

3For SMCR, be clear on SoRs vs Responsibilities Maps, Certification (annual F&P), and Individual vs Senior Manager Conduct Rules.

4Know DISP's eight-week final response rule for standard complaints and when customers can escalate to FOS.

5Practise timed sets of 25 questions in 60 minutes to match the official assessment pace (~2.4 minutes per item).

Frequently Asked Questions

How many questions are on the ICA Specialist Certificate in Conduct Risk exam?

The official assessment is a one-hour online multiple-choice exam with 25 questions. ICA Specialist Certificates use this standard MCQ format; you can sit the exam at any point during your studies via the Learning Hub.

What is the pass mark?

For Certificate and Specialist Certificate MCQ assessments, the minimum pass mark is 70% — typically 18 out of 25. Grade bands are Distinction 90–100%, Merit 80–89%, Pass 70–79%, and Fail below 70%.

How much does the course cost?

The published GBP course fee is £765, with ICA membership at £195 if you are not already a member (EUR and USD list prices are also published). Local taxes and group discounts may apply — confirm on the ICA checkout page.

How long do I have to complete the course?

Average completion is about four weeks at 2–4 hours of study per week, and you have access for up to two months. The ICA course page lists 20 CPD hours for this Specialist Certificate.

What topics does the syllabus cover?

Published themes include development of the conduct agenda; core components of conduct risk; good conduct for firms and customers; outcomes-based approaches; market conduct and impacts of poor conduct; and the UK SMCR framework in practice, alongside GDPR, complaints handling and vulnerable customers highlighted in the course overview.