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TCF Product Management Consumer Protection

Under **Treating Customers Fairly (TCF)**, what is meant by the 'product lifecycle'?

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

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

Why this is the answer

The TCF framework applies to the *entire* 'product lifecycle'. This means fairness must be embedded in the product's design, how it's marketed, the advice given at the sale, and all post-sale interactions, including administration, complaints, and claims.

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