af7-pension-transfers Practice Test

1Single Choice

Under FCA rules, what is the default maximum charge that may be levied on a pension transfer arrangement without the client having to specifically agree a higher fee in writing?

A.The adviser must not levy any charge on the transfer arrangement itself.
B.An initial adviser charge of up to 1% of the transfer value, with no ongoing charge on the new arrangement.
C.An initial charge capped at 2% of the transfer value.
D.An initial charge capped at 3% of the transfer value, provided the client is notified in writing.

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