FinPlan (Pty) Ltd (FinPlan) is a financial planning practice. Which…
Question Answered step-by-step FinPlan (Pty) Ltd (FinPlan) is a financial planning practice. Which… FinPlan (Pty) Ltd (FinPlan) is a financial planning practice. Which one of the following statements is correct? a.Finplan receives information from product suppliers relating to investment in, outflows from, and claims from, insurance policies, over certain periods of time. The information is collated from client transactions (FinPlan clients and the clients of other financial services providers), held by the product suppliers. The spreadsheets that FinPlan receives, only includes amounts, dates, and the transaction type. FinPlan imports the information into its management information systems, and analyses it, to identify trends, and to inform its business strategy. The receipt, importing and analysing of the information constitutes the processing of personal information by FinPlan. b.FinPlan provides financial advice in respect of financial products, of various financial product suppliers, to its clients. In the course of providing the financial advice, FinPlan obtains certain personal information from its clients. Some of the information is also required for product applications to the product suppliers, and FinPlan will provide such information to the product supplier. In this instance, FinPlan acts as an operator for the product supplier. c.To get more clients, FinPlan has printed a one page advertisement of its services. FinPlan distributes it, by placing it in post boxes at residential complexes. This will constitute direct marketing in terms of the Protection of Personal Information Act 4 of 2013. d.All of the above e.None of the above Accounting Business Financial Accounting FINANCE BPIF006 Share QuestionEmailCopy link Comments (0)

