CII R01 Complaints Handling 2

Question 1

What must firms do when they receive a complaint?

Accepted Answer

Send a prompt written acknowledgement and ensure the complaint is handled by an appropriate person

Answer

Wait for the customer to submit it in writing

Answer

Refer it directly to the FOS

Answer

Ignore it if it seems trivial

Question 2

What is 'root cause analysis' in the context of complaints handling?

Accepted Answer

Investigating the underlying causes of complaints to identify systemic issues and prevent recurrence

Answer

Analysing the gardening industry's financial complaints

Answer

Determining which staff member caused the complaint

Answer

Analysing the customer's history to find the root of their dissatisfaction

Question 3

What complaints data must firms report to the FCA?

Accepted Answer

The number and nature of complaints received and how they were resolved, reported semi-annually

Answer

No complaints data needs to be reported

Answer

Only complaints that resulted in compensation

Answer

Only complaints referred to the FOS

Question 4

What is the 'summary resolution communication'?

Accepted Answer

A communication sent when a complaint is resolved by the next business day, informing the complainant about the FOS

Answer

A court summary of a legal case

Answer

A summary of all complaints received during the year

Answer

A communication to the FCA summarising complaint trends

Question 5

Can a firm charge a fee for handling complaints?

Accepted Answer

No, complaints handling must be free of charge

Answer

Yes, firms can charge a reasonable fee

Answer

Yes, but only for complex complaints

Answer

Yes, but only if the complaint is found to be unjustified

Question 6

What is the FCA's expectation regarding complaints procedures and vulnerable customers?

Accepted Answer

Firms should have flexible procedures that accommodate the needs of vulnerable customers

Answer

Vulnerable customers should use the standard complaints procedure only

Answer

Vulnerable customers must have a representative handle their complaint

Answer

Firms have no additional obligations for vulnerable complainants