Which of the following is NOT subject to the Central Bank's Consumer Protection Code when providing financial services to consumers?

• A. It does not apply to certified persons
• B. It applies to Banks
• C. It applies to Mortgage intermediaries
• D. It applies to certified persons

Answer: (D)

The main idea is understanding who the Central Bank’s Consumer Protection Code covers. The Code sets minimum standards for any financial service provider regulated by the Central Bank when dealing with consumers. That scope includes banks, mortgage intermediaries, and certified persons who provide financial services to consumers. Because certified persons are within the regulated activities the Code governs, they are subject to the CPC. Therefore, the statement that it does not apply to certified persons is incorrect. Banks and mortgage intermediaries are clearly covered as well. In short, the CPC applies to all three groups listed, so there isn’t a true NOT-subject option among them.