SMCR Quiz: Test Your Knowledge of the Senior Managers Regime

A series of free quizzes on the Senior Managers and Certification Regime, for Senior Managers, candidates preparing for an SMF role, and firms running SMCR training. Start with the ten-question sampler below, then work through the full quizzes on Senior Manager Functions, fit and proper, the Conduct Rules, the MLRO and the compliance officer role.

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Choose a Quiz

Each quiz has 15 to 20 questions with answers you reveal one at a time, a short explanation for each and a link to the full guide. Pick the area you want to test, or start with the sampler.

SMCR Quiz: Start HereA 10-question sampler and the full series Senior Manager Functions QuizWhich SMF does what, tiers and responsibilities Fit and Proper QuizApproval, Form A, references and the 12-week rule Conduct Rules Quiz20 scenarios: who is covered and which rule applies MLRO and Financial Crime QuizSARs, the nominated officer, CDD and sanctions Compliance Officer QuizSMF16, monitoring, breaches and Consumer Duty

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Who the Quizzes Are For

Candidates preparing for a Senior Manager role. Check your knowledge before an interview with a firm or an approval interview with the regulator. Our guide to preparing for an approval interview covers the rest.
Current Senior Managers. A quick refresher on the rules you are accountable under, including the 2026 changes to the regime.
Compliance teams and HR. Use the quizzes in induction, annual Conduct Rules training or team meetings. The Word versions below have the questions and answers on separate pages for printing.
Boards. A short way for directors to check their understanding of the regime they oversee.

Ten-Question Sampler

Two questions from each quiz in the series. Choose your answer, then select Show answer. The quizzes are a learning aid, not an official FCA test, and reflect the rules as we understand them, including the April 2026 changes to the SMCR.

Question 1

Which Senior Manager Function is Compliance Oversight?

SMF4
SMF16
SMF17
SMF24

Show answer

Answer: B, SMF16. The SMF16 holder is responsible for the firm’s compliance function and must be approved by the FCA before starting.

Question 2

Which form does a firm use to apply for approval of a Senior Manager?

Form A
Form C
Form D
Form E

Show answer

Answer: A, Form A. Form A covers the candidate’s history, the role and the firm’s own fitness and propriety assessment.

How many years must regulatory references normally cover?

Two
Three
Six
Ten

Show answer

Answer: C, six years. Firms must request references covering the previous six years from past employers in regulated firms.

Under the 12-week rule as changed in April 2026, what must happen within 12 weeks when someone covers an unforeseen Senior Manager absence?

The person must be approved
The firm must submit an application for them
A permanent replacement must start
Nothing

Show answer

Answer: B. The firm now has 12 weeks to submit an application, and the person covering can continue until the regulator decides.

How many Conduct Rules are there in total, counting the Individual and Senior Manager Conduct Rules?

Five
Nine
Ten
Twelve

Show answer

Answer: C, ten. There are six Individual Conduct Rules, including Rule 6 on delivering good outcomes for retail customers, and four Senior Manager Conduct Rules, SC1 to SC4.

Failing to respond fully and accurately to questions from the FCA breaches which Individual Conduct Rule?

Rule 1
Rule 2
Rule 3
Rule 5

Show answer

Answer: C, Rule 3. Rule 3 requires you to be open and cooperative with the FCA, the PRA and other regulators.

Where are suspicious activity reports submitted?

The FCA
HMRC
The National Crime Agency
The Financial Ombudsman Service

Show answer

Answer: C, the National Crime Agency. The nominated officer submits SARs to the UK Financial Intelligence Unit within the National Crime Agency.

Is the MLRO of an authorised payment institution an SMF17?

Yes
No
Only above 10 staff
Only for e-money firms

Show answer

Answer: B, no. Payment and e-money institutions are not within the SMCR in the same way as FSMA firms, though their MLRO is still closely assessed.

How often must a firm’s board review and approve its Consumer Duty assessment of customer outcomes?

Monthly
At least annually
Every three years
Only when asked

Show answer

Answer: B, at least annually. The board, or equivalent governing body, must review and approve the report at least once a year.

Can an SMF16 compliance officer be fractional, working one or two days a week?

No
Yes, with enough time for the firm’s risks
Only in Limited Scope firms
Only for a year

Show answer

Answer: B. There is no requirement for SMF16 to be full-time. The FCA looks at whether the person has enough time alongside their other roles.

How Did You Do?

8 to 10: a strong grasp of the regime. Try the full quizzes to test the detail.
5 to 7: a solid base. The full quizzes and their linked guides will fill the gaps.
Fewer than 5: start with our Senior Manager Functions explained and Conduct Rules explained guides, then come back.

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Download the Quizzes for Training

Each quiz is available as a Word document, with the questions first and the answers and explanations on a separate page at the end, so you can print the questions for a training session and hand out the answers afterwards. They are free to use and adapt for internal training.

Senior Manager Functions quiz (Word)Questions with a separate answer page Fit and proper quiz (Word)Questions with a separate answer page Conduct Rules quiz (Word)Questions with a separate answer page MLRO quiz (Word)Questions with a separate answer page Compliance officer quiz (Word)Questions with a separate answer page

For more free resources, including Word templates for the documents the regime requires, see our free guides and templates and the Resources hub.

What the Quizzes Cover

Quiz	Topics
Senior Manager Functions	SMF1 to SMF29, board and committee roles, firm tiers, Statements of Responsibilities, Responsibilities Maps, Prescribed Responsibilities, combining roles
Fit and proper	The three criteria, Form A, Forms C and E, approval timings, regulatory references, criminal records checks, the 12-week rule, certification
Conduct Rules	Who is covered, which rule applies, the Senior Manager Conduct Rules, Consumer Duty Rule 6, reporting breaches
MLRO and financial crime	The nominated officer, SARs, tipping off, DAML requests, CDD and EDD, record keeping, sanctions, the annual MLRO report
Compliance officer	SMF16, SYSC 6.1, monitoring, breach reporting, Consumer Duty, outsourcing, fractional roles, the duty of responsibility

From Quiz to Appointment

The quizzes come from the questions we ask, and are asked, every week running Senior Manager searches. When a firm needs to fill a role, this is how we help:

SMF recruitment servicesEvery Senior Manager Function Fractional compliance officerAn approved SMF16 for part of the week Fractional MLROAn MLRO for part of the week CCO and head of complianceCompliance leaders with a team Urgent SMF replacementWhen a Senior Manager leaves SMF authorisation supportThe team behind your application

Related Services and Guides

From knowledge to appointment. Every search is run by our specialist team, with Adrian Lawrence FCA overseeing each mandate

Practice Area

Fractional Cover

SMF16 and SMF17, part of the week.

→ Fractional compliance officer → Fractional MLRO

Fractional and interim SMF cover →

Practice Area

Compliance Leaders

Permanent compliance and MLRO hires.

→ CCO and head of compliance → Combined SMF16/17

Compliance officer (SMF16) →

Practice Area

Resources

Guides, templates and pay data.

→ Knowledge Centre → Free guides and templates

All resources →

Practice Area

Candidates

For current and future Senior Managers.

→ Live SMF jobs → Register as a candidate

Candidate resources →

Every search is run by our specialist team, with Adrian Lawrence FCA overseeing each mandate

Tell us about your hire Call 0203 745 0239

Frequently Asked Questions

Are these official FCA questions?

No. The quizzes are written by SMF Capital as a learning aid. They are not taken from any official FCA test or examination.

Are the quizzes free?

Yes, including the Word versions for training. There is no sign-up.

Do the quizzes reflect the 2026 SMCR changes?

Yes. Questions on the 12-week rule and related areas reflect the changes that took effect in April 2026. We update the quizzes when the rules change.

Can I use the quizzes in my firm’s training?

Yes. Download the Word versions and adapt them to your firm. The answers are on a separate page so you can hand them out after the session.

I’m preparing for an SMF role. Can you help?

Yes. See our live SMF jobs or register with us in confidence.

About the Author

Adrian Lawrence FCA is the founder of SMF Capital. He is a Chartered Accountant and Fellow of the ICAEW, holds a practising certificate in his own name, and is a former listed-company Finance Director with a BSc from Queen Mary College, University of London. He founded FD Capital in 2018 and has since built a network of five specialist recruitment practices. He oversees every SMF Capital search. View Adrian’s ICAEW profile.

Need to Appoint a Senior Manager?

Tell us about the role. We’ll come back the same working day. Preparing for an SMF role yourself? Register with us in confidence.

Tell us about your hire Call 0203 745 0239