Which of the following factors should be taken into account by the Monetary Authority of Singapore (MAS) while assessing an application to be a registered fund management company (RFMC)?

I. Fitness and propriety of the applicant, its shareholders and directors.
II. Track record and fund management expertise of the applicant and its parent company or major shareholders.
III. Ability to meet the maximum financial requirements prescribed under the MAS.
IV. Strength of internal risk management and compliance systems.

Which of the following criteria satisfies the requirement of staff for a retail licensed fund management company (LFMC) under the Capital Markets Services (CMS) License?

I. THE proposed CEO must have at least 5 years of relevant experience.
II. Minimum of 3 full-time Singapore-based employees each with at least 5 years of relevant experience.
III. THE proposed CEO must have at least 10 years of relevant experience.
IV. Independent and dedicated compliance function in Singapore required.

Which of the following criteria satisfies the requirement of staff for a retail licensed fund management company (LFMC) under the Capital Markets Services (CMS) License?

I. THE proposed CEO must have at least 5 years of relevant experience.
II. Minimum of 3 full-time Singapore-based employees each with at least 5 years of relevant experience.
III. THE proposed CEO must have at least 10 years of relevant experience.
IV. Independent and dedicated compliance function in Singapore required.

Which of the following is the fixed annual corporate fee for the retail licensed fund management company (LFMC) under the Capital Markets Services (CMS) License?

What is the amount of non-refundable application fee that is payable during the submission of Form 1A (Application for a capital markets services (CMS) license to provide fund management) for licensing or registration under the Capital Markets Services (CMS) License for a retail licensed fund management company (LFMC)?

Choose the correct statement from the following.

I. For transactions settled on an FOP basis, participants make their money settlement by involving CDP.
II. For transactions settled on an FOP basis, participants make their money settlement without involving CDP.
III. Participants can choose to settle their transaction on a Delivery-versus-payment (DVP).
IV. Participants can choose to settle their transaction on a Free-of-Payment (FOP) basis.

Which of the following are the correct statements regarding Singapore Exchange Derivatives Trading Limited (SGX-DT)?

I. SGX-DT was established under the Companies Act and carries on the business of establishing, conducting and regulating a futures market with underlying assets
including commodities and financial instruments under the SFA.
II. SGX-DT was established under the Singapore Commercial Trading Act and carry out business and regulating futures market with underlying assets including commodities
and financial instruments under the Singapore Commodity Exchange.
III. SGX-DT lays down the rules and requirements to ensure orderly trading and settlements of futures and options on various products, including interest rates, equity,
and equity indices and energy, covering major markets such as Asia, Europe, and The United States.
IV. SGX-DT only follow the rules laid down by the Government of Singapore.

Singapore Exchange-Derivatives Clearing Limited (SGX-DC) is a wholly owned SGX subsidiary, and provides clearing for:

I. Products quoted on Singapore Bullion Exchange.
II. Products quoted on Singapore Exchange Derivatives Trading (SGX-DT)
III. OTC commodity trades registered via the SGX OTC Trade Registration Platform (TRS)
IV. OTC commodity trades registered via Singapore Exchange.

Select the correct statement related to Qualifying CCP.

I. Qualifying CCP members are subject to higher capital requirements for the trade and default fund exposures under the new Basel III framework.
II. Qualifying CCP members are subject to lower capital requirements for their trade and default fund exposures under the new Basel III framework.
III. SGX-DC is not a qualifying CCP.
IV. SGX-DC is now a Qualifying CCP.

What are the requirements for the listing process?

I. A company seeks to list in the SGX must apply to SGX.
II. Before making the application, the company should appoint an advisor as the issue manager.
III. The advisor can be anybody from a bank or financial institution.
IV. The advisor should be a CMS license holder.

What are the settlement criteria of securities executed through SGX?

I. All trading executed on SGX required to settle on T+22.
II. All trading executed on SGX required to settle on T+33
III. During the run, the securities transferred from a seller’s securities account to that of the buyer and vice versa.
IV. During the run, the securities deposited with SGX until finalization.

What are the reasons that may lead to lapsing, revocation and suspension of CMS License?

I. If the CMS license holder’s name and address of the principal place of business changes frequently, then the CMS license will lapse.
II. A CMS license will be considered lapsed if the CMS license holder is found wind up or dissolved either in Singapore or elsewhere.
III.MAS may also suspend a CMS license if found that the CMS license holder or its representatives or officers has been unsuccessful to perform efficiently, sincerely and
reasonably, or has not worked for the best interest of its clients or has broken the conditions entailed on their licences16.
IV. The CMS License, once issued is permanent, and nobody can suspend or revoke the license

What are the banking activities wholesale banks can do as per Singapore Banking Act Cap.19 or approved under the Monetary Authority of Singapore Act?

I. Wholesale banks can accept US Dollar and Singapore Dollar.
II. Wholesale banks can only accept Singapore dollar deposits of at least S$250,000.
III. Wholesale banks are allowed to operate Singapore dollar savings deposit accounts.
IV. Wholesale banks are not allowed to operate Singapore dollar savings deposit accounts.

What are the banking activities offshore banks can do as per Singapore Banking act?

I. Offshore banks are not allowed to accept Singapore dollar deposits whether in the form of fixed deposits or savings deposits from Singapore residents.
II. Offshore banks are allowed to accept Singapore dollar deposits whether in the form of fixed deposits or savings deposits from Singapore residents.
III. Offshore banks have restrictions in lending in Singapore dollars.
IV. Offshore banks have no restriction in lending in Singapore dollars

What are the statements aptly matches to secondary market and brokers?

I. In the secondary market, it would be easy for an investor who is holding securities to find a buyer for the same security directly.
II. In the secondary market, it would be difficult for an investor who is holding securities to find a buyer for the same securities directly.
III. When finding securities, buyer directly goes tough, financial intermediaries such as brokers function as a middle agent to complete the transaction.
IV. When selling security becomes a problem, financial intermediaries such as brokers will buy the securities and complete the transaction.

Which of the following statements are right with Merchant Banks?

I. Merchant banks are not licensed under the Banking Act but approved under the MAS Act.
II. Merchant banks are licensed under the Banking Act and do not require approval from MAS.
III. Merchant banks can accept deposits or borrow from the public in any form except banks, finance companies, shareholders and companies controlled by shareholders.
IV. Merchant banks cannot accept deposits or borrow from the public in any form except banks, finance companies, shareholders and companies controlled by
shareholders.

Name the CMS license holders related to securities.

I. Corporate Finance Advisory Companies
II. Providers of Custodial Services for Securities
III. Broker/Dealer Companies
IV. Monetary Exchange

What are the documents required for an IPO listing?

I. Promoters history and personal profile
II. Promoters banking details
III. Company prospectus
IV. Information filed on MAS OPERA website

What are the acceptable accounting standards for Singapore Capital Market?

I. Chinese standard
II. Singapore Standard
III. International Accounting Standards
IV. US Accounting Standard

Which of the following statements are correct for listing on Catalist?

I. A company seeking a listing on Catalist can only choose the primary listing route.
II. A company seeking a listing on Catalist can only choose the secondary listing route.
III. A company seeking a listing on Catalist need to have a sponsor approved by SGX.
IV. A company seeking a listing on Catalist need not have a sponsor.

Select the correct statement regarding the selection of sponsors for listing on Catalist?

I. There are no particular guidelines to select the sponsors other than SGX approval.
II. Sponsors are chosen and approved by SGX based on strict eligibility criteria, which include experience in corporate finance and compliance advisory work.
III. Sponsors undergo strict supervision and their activities regulated through the continuing obligation route.
IV. Sponsors can employ anybody without getting approval from SGX.

What is the objective of MAS?

I. The objective of MAS is to intervene Singapore Financial Market and regulate its activities.
II. MAS act as the central bank of Singapore, including the conduct of monetary policy, the issuance of currency, the oversight of payment systems and serving as banker
to and financial agent of the Government.
III. MAS conduct integrated supervision of financial services and financial stability surveillance.
IV. The mission of MAS is to manage official foreign reserves of Singapore.

What is the amount of applicable base capital requirement that should be paid by the applicant who is providing custodial services?

Which of the following form is used by a company to seek the Monetary Authority of Singapore (MAS) approval to be an approved trustee (AT) for collective investment schemes (CIS)?

Which of the following form should be used by a company that wishes to apply for a trust business license to conduct trust business under the Trust Companies Regulations (TCR)?

Which of the following factors should be considered by the Monetary Authority of Singapore (MAS) while assessing an application by the applicant for a financial adviser (FA) license?

I. Fitness and propriety of the applicant, its shareholders and directors.
II. Track record, management expertise and financial soundness of the applicant and its parent company or major shareholders.
III. Ability to meet the minimum financial requirements and professional indemnity insurance requirements prescribed under the Financial Advisers Act (FAA).
IV. Strength of external compliance systems.

What should be the applicable base capital requirement, if the applicant does not carry any type of customer’s positions in capital markets products, margins or accounts in its own books and deals in capital markets products that are securities, units in collective scheme or exchange traded derivatives contracts?

What is the amount of applicable base capital requirement that should be paid by the applicant who deals in capital markets products that are over-the-counter derivatives contracts and he is a member of an approved clearing house?

What is the amount of applicable base capital requirement that should be paid by the applicant who does not carry any customer’s positions in those capital markets products, margins, or accounts in its own books and either carry on the business only for accepting orders for the purchase or sale of any of those capital markets products from any customer?

Which of the following are included in the Capital markets products?

I. Collective investment schemes are included in capital markets products.
II. International investment schemes are included in capital markets products.
III. Futures are included in capital markets products.
IV. Leveraged foreign exchange contracts are included in capital markets products.