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Finance Product Knowledge
- Finance Product Knowledge
- 1. Finance Structures
- 2. Hire Purchase
- 3. Personal Contract Purchase
- 4. Personal Loans
- 5. Contract Hire
- 6. Conditional Sale
- 7. Credit Sale
- 8. Lease Purchase
- 9. Finance Lease
- 10. Secured Loans
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Regulatory Knowledge
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Regulatory Knowledge 9 Financial incentives

Controlling inappropriate behaviour

Good and poor practice:

Good practice

Monitor recorded sales.
Conduct mystery shopping.
Check that key features of products have been properly explained – via a programme of outbound calls to customers.

Poor practice

Information collected from customers relies on “yes/no” questions relating to satisfaction rather than establishing whether key features have been clearly explained.
Firm relies on observations of sales conversations carried out as part of training – when staff know they are being assessed.

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