FSMA Kredietbemiddeling study guide
FSMA Kredietbemiddeling · Work through your exam, one topic at a time.
The FSMA Kredietbemiddeling exam is a Belgian professional assessment for people who act as credit intermediaries - arranging, presenting or brokering consumer credit agreements between lenders and borrowers - and who must meet the registration and supervision requirements of the Financial Services and Markets Authority (FSMA). Candidates are typically employees or independent agents of credit providers, mortgage and consumer-credit brokers, and compliance or back-office staff who support intermediation activity. The FSMA Kredietbemiddeling study guide has 4 sections and about 1,641 words.
01The FSMA Registration and Supervision Framework for Credit Intermediaries
Belgian consumer credit is policed by two authorities working in tandem. The FSMA (Financial Services and Markets Authority) is the market conduct regulator: it maintains the public register of credit intermediaries, assesses fitness and professional knowledge, and supervises how intermediaries behave towards consumers.
409 words, about 2 min02Consumer Credit Products and the Types of Credit Agreements
Belgian consumer credit law builds on a small set of agreement types, and exam questions reward precision about which type is described. Instalment sale / hire-purchase (koop op afbetaling): the consumer becomes owner only after the final payment; the seller remains owner until then.
425 words, about 2 min03Information, Advice and Conduct-of-Business Duties Towards Consumers
Before a consumer is bound, the intermediary must provide clear, fair and not misleading information: the identity and registration details of the intermediary and the lender, a description of the credit type, the total amount, the term, the APR, the total cost, the instalments, the consequences of late payment, the right of withdrawal, and the right to early repayment. Standardised European information formats (the SECCI-style form) exist precisely so that consumers can compare offers.
413 words, about 2 min04Advertising, Commercial Communication and Fraud Warning Signs
Advertising for consumer credit is regulated content, not free speech. Any commercial communication must be fair, clear and not misleading, and must not minimise the seriousness of the commitment.
394 words, about 2 min