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Question 1 of 30
1. Question
The Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act is granted only to which of the following authority?
Correct
The Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act is granted only to a corporation.
Incorrect
The Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act is granted only to a corporation.
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Question 2 of 30
2. Question
Which of the following forms should be used by a corporation to apply for an Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act?
I. To apply for an AE or RMO licence Form 1C is used.
II. To apply for an AE or RMO licence Form 1A is used.
III. To apply for an AE or RMO licence Form 1M is used.
IV. To apply for an AE or RMO licence Form 1B is used.Correct
The following forms should be used by a corporation to apply for an Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act:-
(a) To apply for an AE or RMO license Form 1A is used.
(b) To apply for an AE or RMO license Form 1B is used.Incorrect
The following forms should be used by a corporation to apply for an Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act:-
(a) To apply for an AE or RMO license Form 1A is used.
(b) To apply for an AE or RMO license Form 1B is used. -
Question 3 of 30
3. Question
What is the amount of application fee that is required to be paid by a corporation for an Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act?
Correct
A non-refundable application fee of $4,000 is required to be paid by a corporation for an Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act.
Incorrect
A non-refundable application fee of $4,000 is required to be paid by a corporation for an Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act.
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Question 4 of 30
4. Question
How much processing time required by the Monetary Authority of Singapore (MAS) to process and approve an application for an Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license?
Correct
Approximately 6 months required by the Monetary Authority of Singapore (MAS) to process and approve an application for an Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license. Each application will be evaluated on a case-by-case basis. Processing time depends on the circumstances of each application and the completeness of the information submitted. Ensure that each application is complete, correct and accompanied by the requisite supporting documents.
Incorrect
Approximately 6 months required by the Monetary Authority of Singapore (MAS) to process and approve an application for an Approved Exchanges (AEs) or Recognised Market Operators (RMOs) license. Each application will be evaluated on a case-by-case basis. Processing time depends on the circumstances of each application and the completeness of the information submitted. Ensure that each application is complete, correct and accompanied by the requisite supporting documents.
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Question 5 of 30
5. Question
An approved clearing house (ACH) or recognized clearing houses (RCH) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act is granted only to which of the following authority?
Correct
An approved clearing house (ACH) or recognized clearing houses (RCH) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act is granted only to a corporation.
Incorrect
An approved clearing house (ACH) or recognized clearing houses (RCH) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act is granted only to a corporation.
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Question 6 of 30
6. Question
Which of the following forms should be used by a corporation to apply for an approved clearing house (ACH) or recognized clearing houses (RCH) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act?
Correct
Form 1 (Application for Approval or Recognition as a Clearing Facility) should be used by a corporation to apply for an approved clearing house (ACH) or recognized clearing houses (RCH) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act.
Incorrect
Form 1 (Application for Approval or Recognition as a Clearing Facility) should be used by a corporation to apply for an approved clearing house (ACH) or recognized clearing houses (RCH) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act.
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Question 7 of 30
7. Question
What is the amount of application fee that is required to be paid by a corporation for an approved clearing house (ACH) or recognized clearing houses (RCH) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act?
Correct
A non-refundable application fee of $4,000 is required to be paid by a corporation for an approved clearing house (ACH) or recognized clearing houses (RCH) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act.
Incorrect
A non-refundable application fee of $4,000 is required to be paid by a corporation for an approved clearing house (ACH) or recognized clearing houses (RCH) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act.
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Question 8 of 30
8. Question
How much processing time required by the Monetary Authority of Singapore (MAS) to process and approve an application for an approved clearing house (ACH) or recognized clearing houses (RCH) license?
Correct
Approximately 6 months required by the Monetary Authority of Singapore (MAS) to process and approve an application for an approved clearing house (ACH) or recognized clearing houses (RCH) license. Each application will be evaluated on a case-by-case basis. Processing time depends on the circumstances of each application and the completeness of the information submitted. Ensure that each application is complete, correct and accompanied by the requisite supporting documents.
Incorrect
Approximately 6 months required by the Monetary Authority of Singapore (MAS) to process and approve an application for an approved clearing house (ACH) or recognized clearing houses (RCH) license. Each application will be evaluated on a case-by-case basis. Processing time depends on the circumstances of each application and the completeness of the information submitted. Ensure that each application is complete, correct and accompanied by the requisite supporting documents.
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Question 9 of 30
9. Question
What is the amount of application fee that is required to be paid by a corporation for a licensed trade repository (LTR) or licensed foreign trade repository (LFTR) license under the Securities and Futures Act?
Correct
A non-refundable application fee of $4,000 is required to be paid by a corporation for a licensed trade repository (LTR) or licensed foreign trade repository (LFTR) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act.
Incorrect
A non-refundable application fee of $4,000 is required to be paid by a corporation for a licensed trade repository (LTR) or licensed foreign trade repository (LFTR) license given by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act.
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Question 10 of 30
10. Question
How much processing time required by the Monetary Authority of Singapore (MAS) to process and approve an application for a licensed trade repository (LTR) or licensed foreign trade repository (LFTR) license?
Correct
Approximately 6 months required by the Monetary Authority of Singapore (MAS) to process and approve an application for a licensed trade repository (LTR) or licensed foreign trade repository (LFTR) license. Each application will be evaluated on a case-by-case basis. Processing time depends on the circumstances of each application and the completeness of the information submitted. Ensure that each application is complete, correct and accompanied by the requisite supporting documents.
Incorrect
Approximately 6 months required by the Monetary Authority of Singapore (MAS) to process and approve an application for a licensed trade repository (LTR) or licensed foreign trade repository (LFTR) license. Each application will be evaluated on a case-by-case basis. Processing time depends on the circumstances of each application and the completeness of the information submitted. Ensure that each application is complete, correct and accompanied by the requisite supporting documents.
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Question 11 of 30
11. Question
Which of the following forms should be used by a corporation to apply as an authorized benchmark administrators (ABA), designated benchmark administrators (DBS) and authorized benchmark submitters (ABS) license under the Securities and Futures Act?
I. Form 1 is used for the license of ABA, DBS and ABS.
II. Form 7 is used for the license of ABA, DBS and ABS.
III. Form 2 is used for the license of ABA, DBS and ABS.
IV. Form 9 is used for the license of ABA, DBS and ABS.Correct
The following forms should be used by a corporation to apply as an authorized benchmark administrators (ABA), designated benchmark administrators (DBS) and authorized benchmark submitters (ABS) license under the Securities and Futures Act:-
(a) Form 7 (Application for Authorisation as an Authorised Benchmark Administrator) is used for the license of ABA, DBS and ABS.
(b) Form 9 (Application for Authorisation as an Authorised Benchmark Submitter) is used for the license of ABA, DBS and ABS.Incorrect
The following forms should be used by a corporation to apply as an authorized benchmark administrators (ABA), designated benchmark administrators (DBS) and authorized benchmark submitters (ABS) license under the Securities and Futures Act:-
(a) Form 7 (Application for Authorisation as an Authorised Benchmark Administrator) is used for the license of ABA, DBS and ABS.
(b) Form 9 (Application for Authorisation as an Authorised Benchmark Submitter) is used for the license of ABA, DBS and ABS. -
Question 12 of 30
12. Question
Which of the following authority should be notified by a company if it wishes to appoint representatives to conduct regulated activities on its behalf?
Correct
A company should notify the Monetary Authority of Singapore (MAS) if it wishes to appoint representatives to conduct regulated activities on its behalf. An individual can be an appointed, provisional or temporary representative. An appointed representative is an employee or agent carrying out regulated activities on behalf of the company. A provisional representative is an experienced individual relocating to Singapore from overseas who is given a grace period of 3 months to meet the relevant examination requirements. A temporary representative may be the company’s employee residing overseas, who is designated to carry out the regulated activity on behalf of the company for a limited period of time.
Incorrect
A company should notify the Monetary Authority of Singapore (MAS) if it wishes to appoint representatives to conduct regulated activities on its behalf. An individual can be an appointed, provisional or temporary representative. An appointed representative is an employee or agent carrying out regulated activities on behalf of the company. A provisional representative is an experienced individual relocating to Singapore from overseas who is given a grace period of 3 months to meet the relevant examination requirements. A temporary representative may be the company’s employee residing overseas, who is designated to carry out the regulated activity on behalf of the company for a limited period of time.
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Question 13 of 30
13. Question
Which of the following type of representatives may be appointed by a company to conduct regulated activities on its behalf?
I. A company may appoint a local representative.
II. A company may appoint an appointed representative.
III. A company may appoint a provisional representative.
IV. A company may appoint a temporary representative.Correct
A company should notify the Monetary Authority of Singapore (MAS) if it wishes to appoint representatives to conduct regulated activities on its behalf. An individual can be an appointed, provisional or temporary representative. An appointed representative is an employee or agent carrying out regulated activities on behalf of the company. A provisional representative is an experienced individual relocating to Singapore from overseas who is given a grace period of 3 months to meet the relevant examination requirements. A temporary representative may be the company’s employee residing overseas, who is designated to carry out the regulated activity on behalf of the company for a limited period of time.
Incorrect
A company should notify the Monetary Authority of Singapore (MAS) if it wishes to appoint representatives to conduct regulated activities on its behalf. An individual can be an appointed, provisional or temporary representative. An appointed representative is an employee or agent carrying out regulated activities on behalf of the company. A provisional representative is an experienced individual relocating to Singapore from overseas who is given a grace period of 3 months to meet the relevant examination requirements. A temporary representative may be the company’s employee residing overseas, who is designated to carry out the regulated activity on behalf of the company for a limited period of time.
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Question 14 of 30
14. Question
Which of the following representative is an experienced individual relocating to Singapore from overseas who is given a grace period of 3 months to meet the relevant examination requirements?
Correct
A company should notify the Monetary Authority of Singapore (MAS) if it wishes to appoint representatives to conduct regulated activities on its behalf. An individual can be an appointed, provisional or temporary representative. An appointed representative is an employee or agent carrying out regulated activities on behalf of the company. A provisional representative is an experienced individual relocating to Singapore from overseas who is given a grace period of 3 months to meet the relevant examination requirements. A temporary representative may be company’s employee residing overseas, who is designated to carry out the regulated activity on behalf of the company for a limited period of time.
Incorrect
A company should notify the Monetary Authority of Singapore (MAS) if it wishes to appoint representatives to conduct regulated activities on its behalf. An individual can be an appointed, provisional or temporary representative. An appointed representative is an employee or agent carrying out regulated activities on behalf of the company. A provisional representative is an experienced individual relocating to Singapore from overseas who is given a grace period of 3 months to meet the relevant examination requirements. A temporary representative may be company’s employee residing overseas, who is designated to carry out the regulated activity on behalf of the company for a limited period of time.
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Question 15 of 30
15. Question
Which of the following representative is company’s employee that residing overseas and who is designated to carry out the regulated activity on behalf of the company for a limited period of time?
Correct
A company should notify the Monetary Authority of Singapore (MAS) if it wishes to appoint representatives to conduct regulated activities on its behalf. An individual can be an appointed, provisional or temporary representative. An appointed representative is an employee or agent carrying out regulated activities on behalf of the company. A provisional representative is an experienced individual relocating to Singapore from overseas who is given a grace period of 3 months to meet the relevant examination requirements. A temporary representative may be company’s employee residing overseas, who is designated to carry out the regulated activity on behalf of the company for a limited period of time.
Incorrect
A company should notify the Monetary Authority of Singapore (MAS) if it wishes to appoint representatives to conduct regulated activities on its behalf. An individual can be an appointed, provisional or temporary representative. An appointed representative is an employee or agent carrying out regulated activities on behalf of the company. A provisional representative is an experienced individual relocating to Singapore from overseas who is given a grace period of 3 months to meet the relevant examination requirements. A temporary representative may be company’s employee residing overseas, who is designated to carry out the regulated activity on behalf of the company for a limited period of time.
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Question 16 of 30
16. Question
What should be the age limit for an individual that is appointed as representatives of a company to conduct regulated activities on its behalf?
Correct
The age limit for an individual that is appointed as representatives of a company to conduct regulated activities on its behalf should be at least 21 years old.
Incorrect
The age limit for an individual that is appointed as representatives of a company to conduct regulated activities on its behalf should be at least 21 years old.
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Question 17 of 30
17. Question
Which of the following minimum entry requirements criteria should be satisfied by the individuals who are to be appointed as provisional representatives?
I. An individual is in the process of relocating or has already relocated to Singapore.
II. An individual possesses at least 3 years of working experience relevant to the regulated activities to be conducted as a provisional representative.
III. An Individual complying with the relevant examination requirements within 3 months of being appointed as a provisional representative.
IV. An individual possesses at least 5 years of working experience relevant to the regulated activities to be conducted as a provisional representative.Correct
The following minimum entry requirements should be satisfied by the individuals who are to be appointed as provisional representatives:-
(a) An Individual is in the process of relocating or has already relocated to Singapore.
(b) An individual possesses at least 3 years of working experience relevant to the regulated activities to be conducted as a provisional representative.
(c) An Individual complying with the relevant examination requirements within 3 months of being appointed as a provisional representative.Incorrect
The following minimum entry requirements should be satisfied by the individuals who are to be appointed as provisional representatives:-
(a) An Individual is in the process of relocating or has already relocated to Singapore.
(b) An individual possesses at least 3 years of working experience relevant to the regulated activities to be conducted as a provisional representative.
(c) An Individual complying with the relevant examination requirements within 3 months of being appointed as a provisional representative. -
Question 18 of 30
18. Question
What should be the validity period for the appointment of a provisional representative of a company to conduct regulated activities on its behalf?
Correct
The appointment of a provisional representative will be valid for a period of up to 3 months from the date of appointment of the provisional representative.
Incorrect
The appointment of a provisional representative will be valid for a period of up to 3 months from the date of appointment of the provisional representative.
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Question 19 of 30
19. Question
Which of the following form should be used by an individual who intends to be an appointed representative of a company?
Correct
Form 3A should be used by an individual who intends to be an appointed representative of a company to conduct regulated activities on its behalf.
Incorrect
Form 3A should be used by an individual who intends to be an appointed representative of a company to conduct regulated activities on its behalf.
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Question 20 of 30
20. Question
Which of the following form should be used by an individual who intends to be a provisional representative of a company?
Correct
Form 3B should be used by an individual who intends to be a provisional representative of a company to conduct regulated activities on its behalf.
Incorrect
Form 3B should be used by an individual who intends to be a provisional representative of a company to conduct regulated activities on its behalf.
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Question 21 of 30
21. Question
Which of the following form should be used by an individual who intends to be a temporary representative of a company?
Correct
Form 3C should be used by an individual who intends to be a temporary representative of a company to conduct regulated activities on its behalf.
Incorrect
Form 3C should be used by an individual who intends to be a temporary representative of a company to conduct regulated activities on its behalf.
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Question 22 of 30
22. Question
What is the amount of lodgement fee payable for each representative of a company that conducts regulated activities on its behalf?
Correct
A fixed fee of $200 for each new lodgement should be paid by each representative of a company that conducts regulated activities on its behalf.
Incorrect
A fixed fee of $200 for each new lodgement should be paid by each representative of a company that conducts regulated activities on its behalf.
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Question 23 of 30
23. Question
What is the amount of fixed annual fee payable for each representative of a company that conducts regulated activities on its behalf?
Correct
A fixed annual fee of $700 or $200 should be paid (depending on CMS regulated activities conducted) by each representative of a company that conducts regulated activities on its behalf.
Incorrect
A fixed annual fee of $700 or $200 should be paid (depending on CMS regulated activities conducted) by each representative of a company that conducts regulated activities on its behalf.
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Question 24 of 30
24. Question
Which of the following criteria should be adopted by a real estate investment trust (REIT) managers for the holding of a capital markets services (CMS) license?
I. A REIT manager should satisfy MAS that its controlling shareholders have established track records in managing, investing in, or advising on the type of real estate to be invested by the REIT, for the past 3 years at a minimum.
II. A REIT manager should satisfy MAS that it will discharge its duties, efficiently, honestly and fairly.
III. A REIT manager should be a Singapore-incorporated company and have a permanent physical office in Singapore.
IV. A REIT manager should satisfy MAS that its controlling shareholders have established track records in managing, investing in, or advising on the type of real estate to be invested by the REIT, for the past 5 years at a minimum.Correct
The following criteria should be adopted by a real estate investment trust (REIT) managers for the holding of a capital markets services (CMS) license:-
(a) A REIT manager should satisfy MAS that it will discharge its duties, efficiently, honestly and fairly.
(b) A REIT manager should be a Singapore-incorporated company and have a permanent physical office in Singapore.
(c) A REIT manager should satisfy MAS that its controlling shareholders have established track records in managing, investing in, or advising on the type of real estate to be invested by the REIT, for the past 5 years at a minimum.Incorrect
The following criteria should be adopted by a real estate investment trust (REIT) managers for the holding of a capital markets services (CMS) license:-
(a) A REIT manager should satisfy MAS that it will discharge its duties, efficiently, honestly and fairly.
(b) A REIT manager should be a Singapore-incorporated company and have a permanent physical office in Singapore.
(c) A REIT manager should satisfy MAS that its controlling shareholders have established track records in managing, investing in, or advising on the type of real estate to be invested by the REIT, for the past 5 years at a minimum. -
Question 25 of 30
25. Question
Which of the following activities should be conducted by the real estate investment trust (REIT) managers in relation to the management of the REIT in Singapore?
I. A REIT manager should conduct compliance activities in Singapore.
II. A REIT manager should conduct investor relations activities in Singapore.
III. A REIT manager should conduct accounting activities in Singapore.
IV. A REIT manager should conduct media activities in Singapore.Correct
The following activities should be conducted by the real estate investment trust (REIT) managers in relation to the management of the REIT in Singapore?
(a) A REIT manager should conduct compliance activities in Singapore.
(b) A REIT manager should conduct investor relations activities in Singapore.
(c) A REIT manager should conduct accounting activities in Singapore.Incorrect
The following activities should be conducted by the real estate investment trust (REIT) managers in relation to the management of the REIT in Singapore?
(a) A REIT manager should conduct compliance activities in Singapore.
(b) A REIT manager should conduct investor relations activities in Singapore.
(c) A REIT manager should conduct accounting activities in Singapore. -
Question 26 of 30
26. Question
Which of the following authority’s prior approval is required by the REIT manager for the appointment of a person as Chief Executive Officer or director according to section 96 of the SFA?
Correct
According to section 96 of the SFA, the Real Estate Investment Trust (REIT) manager shall obtain the approval of the Monetary Authority of Singapore (MAS) on the following occasions:-
(a) Appointing a person as to its Chief Executive Officer or director.
(b) Changing the nature of the appointment of a director from non-executive to the executive.Incorrect
According to section 96 of the SFA, the Real Estate Investment Trust (REIT) manager shall obtain the approval of the Monetary Authority of Singapore (MAS) on the following occasions:-
(a) Appointing a person as to its Chief Executive Officer or director.
(b) Changing the nature of the appointment of a director from non-executive to the executive. -
Question 27 of 30
27. Question
Within how many days the REIT manager should notify the Monetary Authority of Singapore (MAS) of the resignation of a director or the CEO?
Correct
A REIT manager should notify the Monetary Authority of Singapore (MAS) of the resignation of a director or the CEO as soon as practicable as and in any case no later than 14 days from the date of the resignation.
Incorrect
A REIT manager should notify the Monetary Authority of Singapore (MAS) of the resignation of a director or the CEO as soon as practicable as and in any case no later than 14 days from the date of the resignation.
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Question 28 of 30
28. Question
The Chief Executive Officer and directors of a Real Estate Investment Trust (REIT) manager should have how much relevant experience?
Correct
The Chief Executive Officer and directors of a Real Estate Investment Trust (REIT) manager should have at least 10 years of relevant experience including 5 years at a management level.
Incorrect
The Chief Executive Officer and directors of a Real Estate Investment Trust (REIT) manager should have at least 10 years of relevant experience including 5 years at a management level.
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Question 29 of 30
29. Question
The Chief Executive Officer and directors of a Real Estate Investment Trust (REIT) manager should have how much management level experience?
Correct
The Chief Executive Officer and directors of a Real Estate Investment Trust (REIT) manager should have at least 10 years of relevant experience including 5 years at a management level.
Incorrect
The Chief Executive Officer and directors of a Real Estate Investment Trust (REIT) manager should have at least 10 years of relevant experience including 5 years at a management level.
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Question 30 of 30
30. Question
How many full-time representatives (which may include the CEO) should have by the REIT managers who are resident in Singapore and have at least 5 years of relevant experience in REIT management?
Correct
The Real Estate Investment Trust (REIT) manager should have a minimum of 3 full-time representatives (which may include the CEO) and who are resident in Singapore and have at least 5 years of relevant experience of REIT management.
Incorrect
The Real Estate Investment Trust (REIT) manager should have a minimum of 3 full-time representatives (which may include the CEO) and who are resident in Singapore and have at least 5 years of relevant experience of REIT management.