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TCF Product Management Consumer Protection

Under Treating Customers Fairly, what does the 'product lifecycle' refer to?

RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.

  1. a) Every stage from product design and marketing through advice and sale to post-sale service, claims and complaints.Correct
  2. b) The warranty period attaching to the product.
  3. c) Only the advice and point-of-sale stage.
  4. d) The policy’s term or duration.

Why this is the answer

TCF fairness must be embedded across the whole product lifecycle — design, marketing, advice, sale and all post-sale dealings. It is not limited to the point of sale and is not the same as a warranty or the policy term.

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