CMFAS M1a Exam Free Trial Set Two

Please note! The Central Provident Fund Board shall pay the Central Provident Fund interest amount to a member.

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.

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.

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.

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.

Please note! The notification of the rate of interest amount published in the Gazette by the Central Provident Fund Board.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Please note! An appointed representative may be a representative of more than one principal if the principals are related in corporations.

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.

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.

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.

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.