CMFAS M1a Exam Free Trial Set Two
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Question 1 of 20
1. Question
Who will pay the Central Provident Fund interest amount to the member?
Correct
Please note! The Central Provident Fund Board shall pay the Central Provident Fund interest amount to a member.
Incorrect
Please note! The Central Provident Fund Board shall pay the Central Provident Fund interest amount to a member.
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Question 2 of 20
2. Question
How much rate of Fund interest amount paid to a member by the Central Provident Fund Board?
Correct
Please note! The Central Provident Fund Board shall pay the Central Provident Fund interest amount at the rate of not less than 2.5% per annum to a member.
Incorrect
Please note! The Central Provident Fund Board shall pay the Central Provident Fund interest amount at the rate of not less than 2.5% per annum to a member.
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Question 3 of 20
3. Question
In the Central Provident Fund Act, Who will fix the rate for voluntarily contributing to the Fund by the citizen of Singapore?
Correct
Please note! No contribution is required to be paid under In Central Provident Fund Act by the citizen of Singapore, The Minister may direct such rate and manner for voluntarily contributing to the Fund.
Incorrect
Please note! No contribution is required to be paid under In Central Provident Fund Act by the citizen of Singapore, The Minister may direct such rate and manner for voluntarily contributing to the Fund.
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Question 4 of 20
4. Question
In the Central Provident fund Act, How many persons are included in the composition of other members of the Board by the Minister with the President’s concurrence?
Correct
Please note! In the Central Provident fund Act, Not more than 7 persons as determined and approved by the Minister from time to time are included in the composition of other members of the Board with the President’s concurrence.
Incorrect
Please note! In the Central Provident fund Act, Not more than 7 persons as determined and approved by the Minister from time to time are included in the composition of other members of the Board with the President’s concurrence.
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Question 5 of 20
5. Question
What is the composition of other members of the Central Provident Fund Board which are appointed by the Minister with the President’s concurrence?
I. 2 persons holding the office of emolument under the Government.
II. 2 persons representing employers.
III. 2 persons representing employees.
IV. Not more than 7 persons determined by the Minister from time to time.Correct
In Central Provident fund Act, the other members of the Board which are appointed by the Minister with the President’s concurrence consist of the following persons:-
(a) 2 persons holding the office of emolument under the Government.
(b) 2 persons representing employers.
(c) 2 persons representing employees.
(d) Not more than 7 persons determined by the Minister from time to time.Incorrect
In Central Provident fund Act, the other members of the Board which are appointed by the Minister with the President’s concurrence consist of the following persons:-
(a) 2 persons holding the office of emolument under the Government.
(b) 2 persons representing employers.
(c) 2 persons representing employees.
(d) Not more than 7 persons determined by the Minister from time to time. -
Question 6 of 20
6. Question
Where will the notification of the rate of interest amount published by The Central Provident Fund Board?
Correct
Please note! The notification of the rate of interest amount published in the Gazette by the Central Provident Fund Board.
Incorrect
Please note! The notification of the rate of interest amount published in the Gazette by the Central Provident Fund Board.
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Question 7 of 20
7. Question
In the Central Provident fund Act, which of the following statements satisfies a company as an “Approved Corporation”?
Correct
In Central Provident fund Act a company as an “Approved Corporation” is defined as follows:-
(a) A company that is incorporated in Singapore.
(b) A company that is wholly or partly owned by the Government.
(c) A company that is approved by the Minister.Incorrect
In Central Provident fund Act a company as an “Approved Corporation” is defined as follows:-
(a) A company that is incorporated in Singapore.
(b) A company that is wholly or partly owned by the Government.
(c) A company that is approved by the Minister. -
Question 8 of 20
8. Question
In the Central Provident fund Act, How many persons as representative of employees are included in the composition of other members of the Board appointed by the Minister with the President’s concurrence?
Correct
Please note! In Central Provident fund Act, 2 persons as representative of employees included in the composition of other members of the Board appointed by the Minister with the President’s concurrence.
Incorrect
Please note! In Central Provident fund Act, 2 persons as representative of employees included in the composition of other members of the Board appointed by the Minister with the President’s concurrence.
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Question 9 of 20
9. Question
In the Central Provident fund Act, How many persons are holding the office of emolument under the Government included in the composition of other members of the Board appointed by the Minister with the President’s concurrence?
Correct
Please note! In the Central Provident fund Act, 2 persons as holding the office of emolument under the Government are included in the composition of other members of the Board appointed by the Minister with the President’s concurrence.
Incorrect
Please note! In the Central Provident fund Act, 2 persons as holding the office of emolument under the Government are included in the composition of other members of the Board appointed by the Minister with the President’s concurrence.
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Question 10 of 20
10. Question
Which of the following known as “officer” in securities or securities-based derivatives contracts of any corporation in relation to market conduct?
I. A director, secretary or employee of the corporation.
II. A receiver or manager of the property of the corporation.
III. A judicial manager of the corporation.
IV. A License holder of the corporation.Correct
In securities or securities-based derivatives contracts of any corporation in relation to market conduct, an “officer” is known as:-
(a) A director, secretary or employee of the corporation.
(b) A receiver or manager of the property of the corporation.
(c) A judicial manager of the corporation.
(d) A liquidator of the corporation.
(e) A trustee or other person administering arrangements between the corporation and another person.Incorrect
In securities or securities-based derivatives contracts of any corporation in relation to market conduct, an “officer” is known as:-
(a) A director, secretary or employee of the corporation.
(b) A receiver or manager of the property of the corporation.
(c) A judicial manager of the corporation.
(d) A liquidator of the corporation.
(e) A trustee or other person administering arrangements between the corporation and another person. -
Question 11 of 20
11. Question
Which of the following conditions a person in possession of inside information of capital markets products is prohibited for a subscription?
I. Purchase any securities, securities-based derivatives contracts or CIS units.
II Sell any securities, securities-based derivatives contracts or CIS units.
III. Acquire another person to purchase any securities, securities-based derivatives contracts or CIS units.
IV. Acquire another person to sell any securities, securities-based derivatives contracts or CIS units.Correct
A person in possession of inside information of capital markets products is prohibited for the subscription for the following condition:-
(a) The insider must not purchase or sell any securities, securities-based derivatives contracts or CIS units.
(b) The insider must not acquire another person for purchase or sell any securities, securities-based derivatives contracts or CIS units.Incorrect
A person in possession of inside information of capital markets products is prohibited for the subscription for the following condition:-
(a) The insider must not purchase or sell any securities, securities-based derivatives contracts or CIS units.
(b) The insider must not acquire another person for purchase or sell any securities, securities-based derivatives contracts or CIS units. -
Question 12 of 20
12. Question
Within how many days after the notification of refusal of trade repository or foreign trade repository license by the Authority the applicant should appeal to Minister?
Correct
Please note! The applicant whose trade repository or foreign trade repository license has been refused by the Authority should appeal to Minister within 30 days after the notification of the refusal.
Incorrect
Please note! The applicant whose trade repository or foreign trade repository license has been refused by the Authority should appeal to Minister within 30 days after the notification of the refusal.
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Question 13 of 20
13. Question
Where will an appeal be lodged by an applicant whose trade repository or foreign trade repository license has been refused by the Authority?
Correct
Please note! Any applicant whose trade repository or foreign trade repository license has been refused by Authority should appeal to Minister within 30 days after the notification of the refusal, whose decision shall be final.
Incorrect
Please note! Any applicant whose trade repository or foreign trade repository license has been refused by Authority should appeal to Minister within 30 days after the notification of the refusal, whose decision shall be final.
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Question 14 of 20
14. Question
Which of the following conditions, the conduct of financial benchmarks will not apply to a person who is acting on behalf of a public authority in Singapore?
I. Acting with respect to the monetary policy.
II. Acting with respect to exchange rate policies.
III. Acting with respect to foreign exchange reserves.
IV. Acting for the purpose of managing the price or value of any commodity.Correct
The conduct of financial benchmark will not apply to a person who is acting on behalf of a public authority or international body whether in Singapore or elsewhere on the following conditions:-
(a) Acting with respect to the monetary policy.
(b) Acting in respect of exchange rate policies.
(c) Acting in respect of foreign exchange reserves.
(d) Acting for the purpose of managing the price or value of any commodity.Incorrect
The conduct of financial benchmark will not apply to a person who is acting on behalf of a public authority or international body whether in Singapore or elsewhere on the following conditions:-
(a) Acting with respect to the monetary policy.
(b) Acting in respect of exchange rate policies.
(c) Acting in respect of foreign exchange reserves.
(d) Acting for the purpose of managing the price or value of any commodity. -
Question 15 of 20
15. Question
Who approves the appointment of an appointed, temporary or provisional representative, if he represents more than one principal at one time?
Correct
Please note! No appointed, provisional or temporary representative shall at any time be a representative of more than one principal unless he is approved by the Authority.
Incorrect
Please note! No appointed, provisional or temporary representative shall at any time be a representative of more than one principal unless he is approved by the Authority.
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Question 16 of 20
16. Question
Which of the following representatives may be a representative of more than one principal?
Correct
Please note! An appointed representative may be a representative of more than one principal if the principals are related in corporations.
Incorrect
Please note! An appointed representative may be a representative of more than one principal if the principals are related in corporations.
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Question 17 of 20
17. Question
How much fine will be paid, the individual failed to furnish particulars to the Authority on the next business day after the day an individual ceases to be his appointed representative?
Correct
Please note! The individual failed to furnish particulars to the Authority on the next business day after the day an individual ceases to be his appointed representative shall be guilty of an offense and shall be liable on conviction to fine not exceeding $150,000.
Incorrect
Please note! The individual failed to furnish particulars to the Authority on the next business day after the day an individual ceases to be his appointed representative shall be guilty of an offense and shall be liable on conviction to fine not exceeding $150,000.
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Question 18 of 20
18. Question
In the Central Provident Fund Act, Who will appoint the person or group of persons with responsibilities for social services activities?
Correct
Please note! The Minister charged with the responsibilities for social services may in writing delegate to any person or group of persons appointed by that Minister all or any of his functions and powers.
Incorrect
Please note! The Minister charged with the responsibilities for social services may in writing delegate to any person or group of persons appointed by that Minister all or any of his functions and powers.
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Question 19 of 20
19. Question
In the Central Provident Fund Act, Which accounts of the deceased member of the Fund used for the transfer of any payable amount from ordinary, medisave, special and retirement account?
Correct
Please note! The amount payable on the member’s death out of the Fund from member’s ordinary, medisave, special and retirement account will be made to nominee accounts maintained for the member.
Incorrect
Please note! The amount payable on the member’s death out of the Fund from member’s ordinary, medisave, special and retirement account will be made to nominee accounts maintained for the member.
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Question 20 of 20
20. Question
In the Central Provident Fund Act, Where the order for sold of any housing accommodation under the Home Protection Insurance Scheme presented, after publication in the Gazette?
Correct
Please note! In the Central Provident Fund Act, the order for sold of any housing accommodation under the Home Protection Insurance Scheme shall be presented to Parliament as soon as possible after publication in the Gazette.
Incorrect
Please note! In the Central Provident Fund Act, the order for sold of any housing accommodation under the Home Protection Insurance Scheme shall be presented to Parliament as soon as possible after publication in the Gazette.
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