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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) Only the advice and point-of-sale stage.
  2. b) The warranty period attaching to the product.
  3. c) Every stage from product design and marketing through advice and sale to post-sale service, claims and complaints.Correct
  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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