UK Regulation & Professional Integrity Practice Test

The Consumer Rights Act 2015 is specifically designed to address consumer rights in relation to goods and services, making option B the correct choice. This legislation consolidates and improves the rights consumers have in relation to purchases they make. It ensures that products must be of satisfactory quality, fit for purpose, and as described. Additionally, it provides clear guidelines regarding the rights consumers have when they receive goods or services that do not meet these standards, including the right to a refund, repair, or replacement.

Understanding this act is crucial for both businesses and consumers as it promotes fair trading practices and transparency in transactions. It also reinforces the importance of consumer protection in a marketplace, underscoring the idea that consumers should have recourse when their rights are violated.

The other options focus on different aspects of regulation—corporate finance, banking transactions, and financial investments—none of which are the core focus of the Consumer Rights Act 2015. This act's primary purpose is explicitly centered around consumer protection, making option B the most relevant and appropriate choice.