Qualified Financial Adviser (QFA) Pensions Exam 2 Practice Test

Under the Consumer Protection Code, a vulnerable consumer is someone who faces barriers that make it harder to understand, compare, or engage with financial products and services. These barriers can come from disabilities or health issues, language or literacy problems, or financial hardship and lack of experience. In these scenarios, the person with a serious health issue that affects writing shows a disability that can affect how they receive and process information. The immigrant with limited English faces a language barrier, making it harder to understand terms and options. The person with a poor credit history may be in financial distress, which can influence how they interpret information and make decisions about products. Earning a high income, by itself, does not create such barriers or vulnerability. So, the consumer with income above €115,000 would not be classified as vulnerable.