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FCA AI Compliance: Governing AI in Financial Services Under Existing UK Rules

Financial Crime, Fraud and Anti Money Laundering Models

Quiz: Financial Crime, Fraud and Anti Money Laundering Models

Credit Decisions, Affordability Models and Fair Treatment

Quiz: Credit Decisions, Affordability Models and Fair Treatment

Insurance Pricing Practices and Automated Underwriting

Quiz: Insurance Pricing Practices and Automated Underwriting

Explaining Model Decisions to Customers and to Supervisors

Quiz: Explaining Model Decisions to Customers and to Supervisors

The FCA AI Live Testing Service and Supervisory Engagement

Quiz: The FCA AI Live Testing Service and Supervisory Engagement

Evidence a Supervisor Will Ask For During an AI Review

Quiz: Evidence a Supervisor Will Ask For During an AI Review

Final exam: FCA AI Compliance: Governing AI in Financial Services Under Existing UK Rules

2 of 2

Previous Lesson

Quiz: Insurance Pricing Practices and Automated Underwriting

FCA AI Compliance: Governing AI in Financial Services Under Existing UK Rules
Insurance Pricing Practices and Automated Underwriting
Quiz: Insurance Pricing Practices and Automated Underwriting

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Question 1 of 5

1. Question

What must automated underwriting systems avoid using unless directly relevant to risk assessment?

Credit scores
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Demographic data
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Protected characteristics
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Past claims history
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Question 2 of 5

2. Question

Which ISO standard requires firms to identify and assess AI-related risks according to the lesson?

ISO/IEC 42006:2025
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ISO/IEC 42001:2023 Clause 8.3
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ISO/IEC 42001:2023 Clause 7.2
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ISO/IEC 42006:2023 Clause 4.5
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Question 3 of 5

3. Question

What is one requirement for AI systems under the EU AI Act as of 2 February 2025?

They must be fully transparent to consumers
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They must not manipulate human behaviour
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They must be reviewed by the FCA annually
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They must use only historical data
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Question 4 of 5

4. Question

By what date must generative AI systems placed on the market be marked as AI-generated?

1 August 2026
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27 July 2026
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2 December 2026
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1 February 2025
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Question 5 of 5

5. Question

What must insurers do to ensure their AI models meet regulatory standards according to the lesson?

Ensure models are only used for new customers
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Review models regularly and maintain documentation
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Avoid using any machine learning algorithms
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Limit data usage to credit scores only
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