Which of the following is not a chapter of MCOB?

• A. Application and purpose
• B. Training and competence
• C. Financial promotions
• D. MCD: Further advances

Answer: (B)

The Mortgage Conduct of Business Sourcebook is organized into chapters that deal with specific conduct rules for mortgage activities, tied to how products are sold and how lending is conducted. The chapter that sets the overall reach and purpose of MCOB, along with a chapter that covers how mortgage promotions are presented to consumers, and a section dealing with further advances under the Mortgage Credit Directive, are all part of MCOB’s structure. Training and competence, however, sits outside of MCOB’s chaptered structure and belongs to the FCA’s general training and competence regime rather than a specific MCOB chapter. So, training and competence is not a chapter of MCOB.