SCI ComGI Practice Questions - SCI Commercial General Insurance (ComGI) Examination Exam

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Under the Central Bank of Ireland's Consumer Protection Code (CPC), how is a 'consumer' defined for the purposes of suitability requirements?

Only natural persons acting outside of their trade, business, or profession. A natural person or a business entity with an annual turnover of €3 million or less. Any business entity regardless of turnover, provided they are not a regulated financial institution. A business entity with an annual turnover of €1 million or less and fewer than 10 employees.

Correct Answer:

A natural person or a business entity with an annual turnover of €3 million or less.

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