FCAC Open House - English | Super Survey Maker

What must banks capture and record as a complaint?

A. Only complaints directly related to Consumer Provision obligations in the FCPF

B. Valid expressions of dissatisfaction from a consumer in relation to a bank’s products or services.

C. All expressions of dissatisfaction, justified or not, in relation to a bank’s products or services.

D. Comments from consumers about products and services that they directly indicate are complaints

Prior to FCPF changes to Banks’ CHP obligations, they reported quarterly on Complaints to FCAC with aggregate numbers, and without complaint specific details. Following the changes in FCPF, how much of an increase in complaints reporting has FCAC seen?

A. Approximately 50% increase

B. Approximately 300% increase

C. Approximately 700% increase

D. Approximately 1600% increase

Complaints requirements, including reporting to FCAC, apply to the following:

A. Banks

B. Agents, Representatives, and other 3rd parties of banks that offer or sell bank products

C. Affiliates of banks that are finance entities

D. All of the above

Banks have 56 days to deal with complaints, and any complaints that reach a designated officer or employee must be reported to FCAC. How many days does a bank have to deal with a complaint before FCAC expects them to automatically refer the complaint to a designated officer or employee?

A. 3 days

B. 7 days

C. 14 days

D. 21 days

What are the 3 principles that FCAC sets as CHP Procedure expectations?

A. Fairness, Timeliness, and Accessibility

B. Effectiveness, Timeliness, and Accessibility

C. Transparency, Fairness, and Effectiveness

D. Effectiveness, Accessibility, and Transparency

If a designated officer or employee deems a complaint to be easy to resolve and sends it back to a non-designated front-line staff employee, the complaint does not need to be reported to FCAC.

True

False

All bank employees must receive the same training with respect to the Bank’s complaints handling procedures.

True

False

Banks must provide to a complainant a Substantive Written Response when:

A. When a non-designated officer/employee closes a complaint as well as when any designated officer/employee closes or resolves a complaint

B. Any complaint is closed, but not required if resolved

C. Only when a designated officer or employee closes or resolves a complaint

D. Any complaint is closed (meaning the bank believes the complainant is not satisfied) or resolved (meaning the bank believes the complainant is satisfied)

FCAC Open House - English

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