At least one in four brokers are in danger of failing competency tests under new FSA rules, according to an exclusive survey of Insurance Times readers.

The Financial Services Skills Council (FSSC), which provides strategic leadership for education and training in the insurance industry, set 17 questions on FSA rules for brokers and other vendors of insurance products.

For some of the questions more than half failed to recognise the correct answers (the results of the survey are on pages 14 and 16. The correct answers and analysis will be published in next week's issue).

The FSSC said it was worrying that there was so much confusion over issues such as client money and the statutory objective of the FSA.

If you want to take the test before we publish the results next week go to and click on the skills survey button.