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Question 1 of 30
1. Question
What is the number of appointment limits of Directors that are appointed under a Registered Fund Management Company (RFMC), A/I Licensed Fund Management Company (A/I LFMC) and Retail Licensed Fund Management Company (Retail LFMC)?
Correct
At least 2 Directors with a relevant experience of 5 years are required to be appointed under a Registered Fund Management Company (RFMC), A/I Licensed Fund Management Company (A/I LFMC) and Retail Licensed Fund Management Company (Retail LFMC). The duties of a director are spelled out in the SF(LCB)R. Nominee directors such as legal advisers or corporate secretaries will not count towards meeting this requirement. A director should have managerial experience or experience in a supervisory capacity as part of the individual’s relevant experience.
Incorrect
At least 2 Directors with a relevant experience of 5 years are required to be appointed under a Registered Fund Management Company (RFMC), A/I Licensed Fund Management Company (A/I LFMC) and Retail Licensed Fund Management Company (Retail LFMC). The duties of a director are spelled out in the SF(LCB)R. Nominee directors such as legal advisers or corporate secretaries will not count towards meeting this requirement. A director should have managerial experience or experience in a supervisory capacity as part of the individual’s relevant experience.
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Question 2 of 30
2. Question
Which of the following type of license is required to hold by a company that carries out business in product financing?
Correct
Product financing is a regulated activity under the SFA. Any company carrying out business in product financing is required to hold a capital markets services (CMS) license in respect of product financing. A company which holds a CMS license in product financing is exempted from the requirement to hold a Moneylender’s license. However, it will be required to obtain the Monetary Authority of Singapore’s (MAS’s) prior approval to conduct any other moneylending activities.
Incorrect
Product financing is a regulated activity under the SFA. Any company carrying out business in product financing is required to hold a capital markets services (CMS) license in respect of product financing. A company which holds a CMS license in product financing is exempted from the requirement to hold a Moneylender’s license. However, it will be required to obtain the Monetary Authority of Singapore’s (MAS’s) prior approval to conduct any other moneylending activities.
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Question 3 of 30
3. Question
Where can the public access the identity of an individual as an appointed, provisional or temporary representative under the Securities and Futures Act (SFA)?
Correct
The Public Register on Monetary Authority of Singapore (MAS) website lists the status of a representative (as appointed, provisional or temporary representative) of a CMS license holder or exempt financial institution and the type of regulated activities and the types of capital markets products under the regulated activity of dealing in capital markets products each representative is authorized to conduct. The public can access such information on their representative from the Public Register by keying in the representative’s name or representative number, which can be requested from the representative or the representative’s principal company.
Incorrect
The Public Register on Monetary Authority of Singapore (MAS) website lists the status of a representative (as appointed, provisional or temporary representative) of a CMS license holder or exempt financial institution and the type of regulated activities and the types of capital markets products under the regulated activity of dealing in capital markets products each representative is authorized to conduct. The public can access such information on their representative from the Public Register by keying in the representative’s name or representative number, which can be requested from the representative or the representative’s principal company.
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Question 4 of 30
4. Question
Which of the following type of information should be used by the public to access the information of their representative from the Public Register, which can be requested from the representative or the representative’s principal company?
I. The public can access information of their representative from the Public Register by keying in the representative’s name.
II. The public can access information of their representative from the Public Register by keying in the representative address.
III. The public cannot access information of their representative from the Public Register.
IV. The public can access information of their representative from the Public Register by keying in the representative number.Correct
The Public Register on Monetary Authority of Singapore (MAS)website lists the status of a representative (as appointed, provisional or temporary representative) of a CMS license holder or exempt financial institution and the type of regulated activities and the types of capital markets products under the regulated activity of dealing in capital markets products each representative is authorized to conduct. The public can access such information on their representative from the Public Register by keying in the representative’s name or representative number, which can be requested from the representative or the representative’s principal company.
Incorrect
The Public Register on Monetary Authority of Singapore (MAS)website lists the status of a representative (as appointed, provisional or temporary representative) of a CMS license holder or exempt financial institution and the type of regulated activities and the types of capital markets products under the regulated activity of dealing in capital markets products each representative is authorized to conduct. The public can access such information on their representative from the Public Register by keying in the representative’s name or representative number, which can be requested from the representative or the representative’s principal company.
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Question 5 of 30
5. Question
Which of the following conditions an appointed representative will cease to be one in respect of any type of regulated activity?
I. The appointed representative has ceased to act as such a representative for a continuous period of one month.
II. MAS has revoked the status of the appointed representative.
III. The license of his principal lapses, the license is revoked by MAS or prohibition order is issued by the MAS against his principal prohibiting it from carrying out that type of regulated activity.
IV. FATF has revoked the status of the appointed representative.Correct
An appointed representative will cease to be one in respect of any type of regulated activity where:-
(a) The principal notifies MAS of such cessation. Such notification should be made in Form 8 via the CoRe system to MAS no later than the next business day.
(b) The appointed representative has ceased to act as such representative for a continuous period of one month and his principal has not notified MAS of his cessation as such representative.
(c) MAS has revoked the status of the appointed representative.
(d) The principal ceases to carry on business in that type of regulated activity. The principal needs to notify MAS of its cessation via Form 7.
(e) The license of his principal lapses, the license is revoked by MAS or prohibition order is issued by MAS against his principal prohibiting it from carrying out that type of regulated activity.Incorrect
An appointed representative will cease to be one in respect of any type of regulated activity where:-
(a) The principal notifies MAS of such cessation. Such notification should be made in Form 8 via the CoRe system to MAS no later than the next business day.
(b) The appointed representative has ceased to act as such representative for a continuous period of one month and his principal has not notified MAS of his cessation as such representative.
(c) MAS has revoked the status of the appointed representative.
(d) The principal ceases to carry on business in that type of regulated activity. The principal needs to notify MAS of its cessation via Form 7.
(e) The license of his principal lapses, the license is revoked by MAS or prohibition order is issued by MAS against his principal prohibiting it from carrying out that type of regulated activity. -
Question 6 of 30
6. Question
How much relevant experience is required for the appointment of Directors under the Registered Fund Management Company (RFMC), A/I Licensed Fund Management Company (A/I LFMC) and Retail Licensed Fund Management Company (Retail LFMC)?
Correct
At least 2 Directors with a relevant experience of 5 years are required to be appointed under a Registered Fund Management Company (RFMC), A/I Licensed Fund Management Company (A/I LFMC) and Retail Licensed Fund Management Company (Retail LFMC). The duties of a director are spelled out in the SF(LCB)R. Nominee directors such as legal advisers or corporate secretaries will not count towards meeting this requirement. A director should have managerial experience or experience in a supervisory capacity as part of the individual’s relevant experience.
Incorrect
At least 2 Directors with a relevant experience of 5 years are required to be appointed under a Registered Fund Management Company (RFMC), A/I Licensed Fund Management Company (A/I LFMC) and Retail Licensed Fund Management Company (Retail LFMC). The duties of a director are spelled out in the SF(LCB)R. Nominee directors such as legal advisers or corporate secretaries will not count towards meeting this requirement. A director should have managerial experience or experience in a supervisory capacity as part of the individual’s relevant experience.
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Question 7 of 30
7. Question
Which of the following representatives need to pay annual fees to the Monetary Authority of Singapore (MAS)?
I. The appointed representative needs to pay annual fees to MAS.
II. The provisional representative needs to pay annual fees to MAS.
III. The temporary representative needs to pay annual fees to MAS.
IV. The local representative needs to pay annual fees to MAS.Correct
Appointed or provisional representatives need to pay annual fees, while temporary representatives need to pay temporary representative fees to the Monetary Authority of Singapore (MAS).
Incorrect
Appointed or provisional representatives need to pay annual fees, while temporary representatives need to pay temporary representative fees to the Monetary Authority of Singapore (MAS).
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Question 8 of 30
8. Question
What is the number of appointment limits of Executive Directors that are appointed under a Registered Fund Management Company (RFMC), A/I Licensed Fund Management Company (A/I LFMC) and Retail Licensed Fund Management Company (Retail LFMC)?
Correct
At least 2 Executive Directors are required to be appointed under a Registered Fund Management Company (RFMC), A/I Licensed Fund Management Company (A/I LFMC) and Retail Licensed Fund Management Company (Retail LFMC). Executive Directors are employed full-time in the day-to-day operations of the company and should be resident in Singapore. There should be at least one Executive Director who has 5 years of experience in portfolio management in areas similar to what the FMC intends to do.
Incorrect
At least 2 Executive Directors are required to be appointed under a Registered Fund Management Company (RFMC), A/I Licensed Fund Management Company (A/I LFMC) and Retail Licensed Fund Management Company (Retail LFMC). Executive Directors are employed full-time in the day-to-day operations of the company and should be resident in Singapore. There should be at least one Executive Director who has 5 years of experience in portfolio management in areas similar to what the FMC intends to do.
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Question 9 of 30
9. Question
What is the number of appointment limit of relevant professionals that are residing in Singapore and appointed under a Registered Fund Management Company (RFMC) and A/I Licensed Fund Management Company (A/I LFMC)?
Correct
At least 2 relevant professionals that are residing in Singapore with a minimum relevant experience of 5 years are required to be appointed under a Registered Fund Management Company (RFMC) and A/I Licensed Fund Management Company (A/I LFMC). Relevant professionals are employed full-time in the day-to-day operations of the company. They may include the executive directors, CEO and representatives of the FMC.
Incorrect
At least 2 relevant professionals that are residing in Singapore with a minimum relevant experience of 5 years are required to be appointed under a Registered Fund Management Company (RFMC) and A/I Licensed Fund Management Company (A/I LFMC). Relevant professionals are employed full-time in the day-to-day operations of the company. They may include the executive directors, CEO and representatives of the FMC.
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Question 10 of 30
10. Question
Within how many days an appointed, a provisional or temporary representative is required to inform his principal company of any change in his particulars that are specified in Form 16?
Correct
An appointed representative, provisional representative or temporary representative is required to inform his principal company of any change in his particulars specified in Form 16 within 7 days after the date of the change of the particulars. The principal company is required to notify the Monetary Authority of Singapore (MAS)of its representative’s change of particulars by lodging Form 16 through the CoRe system not later than 14 days after the date of the change of the particulars.
Incorrect
An appointed representative, provisional representative or temporary representative is required to inform his principal company of any change in his particulars specified in Form 16 within 7 days after the date of the change of the particulars. The principal company is required to notify the Monetary Authority of Singapore (MAS)of its representative’s change of particulars by lodging Form 16 through the CoRe system not later than 14 days after the date of the change of the particulars.
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Question 11 of 30
11. Question
How much relevant experience is required for the appointment of relevant professionals that are residing in Singapore and appointed under the Registered Fund Management Company (RFMC) and A/I Licensed Fund Management Company (A/I LFMC)?
Correct
At least 2 relevant professionals that are residing in Singapore with a minimum relevant experience of 5 years are required to be appointed under a Registered Fund Management Company (RFMC) and A/I Licensed Fund Management Company (A/I LFMC). Relevant professionals are employed full-time in the day-to-day operations of the company. They may include the executive directors, CEO and representatives of the FMC.
Incorrect
At least 2 relevant professionals that are residing in Singapore with a minimum relevant experience of 5 years are required to be appointed under a Registered Fund Management Company (RFMC) and A/I Licensed Fund Management Company (A/I LFMC). Relevant professionals are employed full-time in the day-to-day operations of the company. They may include the executive directors, CEO and representatives of the FMC.
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Question 12 of 30
12. Question
Within how many days the principal company should notify the Monetary Authority of Singapore (MAS) of its representative’s change of particulars by lodging Form 16 through the CoRe system?
Correct
An appointed representative, provisional representative or temporary representative is required to inform his principal company of any change in his particulars specified in Form 16 within 7 days after the date of the change of the particulars. The principal company is required to notify the Monetary Authority of Singapore (MAS) of its representative’s change of particulars by lodging Form 16 through the CoRe system not later than 14 days after the date of the change of the particulars.
Incorrect
An appointed representative, provisional representative or temporary representative is required to inform his principal company of any change in his particulars specified in Form 16 within 7 days after the date of the change of the particulars. The principal company is required to notify the Monetary Authority of Singapore (MAS) of its representative’s change of particulars by lodging Form 16 through the CoRe system not later than 14 days after the date of the change of the particulars.
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Question 13 of 30
13. Question
According to the Monetary Authority of Singapore (MAS) policy, how many individuals listed on the Public Register are allowed to act for more than one principal company?
Correct
The Monetary Authority of Singapore’ (MAS’) policy is to not allow individuals listed on the Public Register to concurrently act for more than one principal company, except for appointed representatives who act for principal companies which are related corporations.
Incorrect
The Monetary Authority of Singapore’ (MAS’) policy is to not allow individuals listed on the Public Register to concurrently act for more than one principal company, except for appointed representatives who act for principal companies which are related corporations.
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Question 14 of 30
14. Question
If an entity deals in which of the following contracts for its own account than the entity is exempted from the requirement to hold a capital markets services (CMS) license?
Correct
Entities trading in futures contracts solely for their own account are exempted from the requirement to hold a capital markets services (CMS) license.
Incorrect
Entities trading in futures contracts solely for their own account are exempted from the requirement to hold a capital markets services (CMS) license.
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Question 15 of 30
15. Question
According to the Monetary Authority of Singapore (MAS), a capital markets services (CMS) license holder is required to deposit customer’s money and assets into which of the following account?
I. A CMS license holder is required to deposit the customer’s money and assets into a trust account maintained with a bank.
II. A CMS license holder is required to deposit the customer’s money and assets into a merchant bank in Singapore.
III. A CMS license holder is required to deposit the customer’s money and assets into an individual account maintained with a bank.
IV. A CMS license holder is required to deposit the customer’s money and assets into a finance company in Singapore.Correct
A capital markets services (CMS) license holder is required to deposit the customer’s money and assets into a trust account maintained with a bank, merchant bank or finance company in Singapore.
Incorrect
A capital markets services (CMS) license holder is required to deposit the customer’s money and assets into a trust account maintained with a bank, merchant bank or finance company in Singapore.
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Question 16 of 30
16. Question
According to the Monetary Authority of Singapore (MAS), which of the following conditions a capital markets services (CMS) license holder maintains a trust account with an overseas institution?
I. The money is not received from the CMS license holder’s retail customers in respect of their transactions in OTCD contracts.
II. The money and assets are denominated in non-S$ and are kept with an institution that is licensed, registered or authorized to conduct banking business or in the case of customers’ assets, to act as a custodian in the country where the account is maintained.
III. The CMS license holder has obtained the customer’s prior written consent.
IV. The CMS license holder has obtained the Minister’s prior written consent.Correct
According to the Monetary Authority of Singapore (MAS), a capital markets services (CMS) license holder should maintain a trust account with an overseas institution on the following condition:-
(a) The money is not received from the CMS license holder’s retail customers in respect of their transactions in OTCD contracts.
(b) The money and assets are denominated in non-S$ and are kept with an institution that is licensed, registered or authorized to conduct banking business or in the case of customers’ assets, to act as a custodian in the country where the account is maintained.
(c) The CMS license holder has obtained the customer’s prior written consent.Incorrect
According to the Monetary Authority of Singapore (MAS), a capital markets services (CMS) license holder should maintain a trust account with an overseas institution on the following condition:-
(a) The money is not received from the CMS license holder’s retail customers in respect of their transactions in OTCD contracts.
(b) The money and assets are denominated in non-S$ and are kept with an institution that is licensed, registered or authorized to conduct banking business or in the case of customers’ assets, to act as a custodian in the country where the account is maintained.
(c) The CMS license holder has obtained the customer’s prior written consent. -
Question 17 of 30
17. Question
What is the time frame for capital markets services (CMS) license holders to deposit customers’ money and assets into a trust account?
Correct
Capital Markets Services (CMS) license holders are required to deposit customers’ money and assets into a trust account by the next business day upon receipt of the money/assets or upon notification of the receipt of money/assets, whichever is later. The term “next business day” refers to the next business day of the CMS license holder.
Incorrect
Capital Markets Services (CMS) license holders are required to deposit customers’ money and assets into a trust account by the next business day upon receipt of the money/assets or upon notification of the receipt of money/assets, whichever is later. The term “next business day” refers to the next business day of the CMS license holder.
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Question 18 of 30
18. Question
For how long capital markets services (CMS) license holders are required to keep the books and records?
Correct
Capital Markets Services (CMS) Licensees are required to maintain their books and records for at least 5 years.
Incorrect
Capital Markets Services (CMS) Licensees are required to maintain their books and records for at least 5 years.
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Question 19 of 30
19. Question
What basis should be used in determining the time of execution of the order if the order is transmitted to another person for execution, such as an overseas broker?
Correct
Where an order is transmitted to another person for execution, the time of execution of the order should be based on the time of notification given by that person that the order has been executed.
Incorrect
Where an order is transmitted to another person for execution, the time of execution of the order should be based on the time of notification given by that person that the order has been executed.
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Question 20 of 30
20. Question
Which of the following mediums should be used by the Monetary Authority of Singapore (MAS) to publish a list of the recognised market operators for the purpose of complying with the SFA?
I. MAS should publish a list in the Newspaper of any recognized market operator.
II. The list of recognized market operators is also published on the MAS website.
III. The list of recognized market operators is also published on the official website of Singapore.
IV. MAS should publish a list in the Gazette of any recognized market operator.Correct
The following mediums should be used by the Monetary Authority of Singapore (MAS) to publish a list of the recognized market operators for the purpose of complying with the SFA:-
(a) The list of recognized market operators is also published on the MAS website.
(b) MAS should publish a list in the Gazette of any recognized market operator.Incorrect
The following mediums should be used by the Monetary Authority of Singapore (MAS) to publish a list of the recognized market operators for the purpose of complying with the SFA:-
(a) The list of recognized market operators is also published on the MAS website.
(b) MAS should publish a list in the Gazette of any recognized market operator. -
Question 21 of 30
21. Question
According to the Securities and Futures (Clearing of Derivatives Contracts) Regulations, which of the following statement describes the “aggregate outstanding notional amount” in relation to a bank that is licensed under the Banking Act (Cap. 19)?
I. The aggregate of the notional amounts of every derivatives contract which is an exchange-traded derivatives contract.
II. The aggregate of the notional amounts of every derivatives contract to which the bank is a party.
III. The aggregate of the notional amounts of every derivatives contract that is booked in Singapore.
IV. The aggregate of the notional amounts of every derivatives contract which is outstanding.Correct
According to the Securities and Futures (Clearing of Derivatives Contracts) Regulations, the following statement describes the “aggregate outstanding notional amount” in relation to a bank that is licensed under the Banking Act (Cap. 19):-
(a) The aggregate of the notional amounts of every derivatives contract which is not an exchange-traded derivatives contract.
(b) The aggregate of the notional amounts of every derivatives contract to which the bank is a party.
(c) The aggregate of the notional amounts of every derivatives contract that is booked in Singapore.
(d) The aggregate of the notional amounts of every derivatives contract which is outstanding.Incorrect
According to the Securities and Futures (Clearing of Derivatives Contracts) Regulations, the following statement describes the “aggregate outstanding notional amount” in relation to a bank that is licensed under the Banking Act (Cap. 19):-
(a) The aggregate of the notional amounts of every derivatives contract which is not an exchange-traded derivatives contract.
(b) The aggregate of the notional amounts of every derivatives contract to which the bank is a party.
(c) The aggregate of the notional amounts of every derivatives contract that is booked in Singapore.
(d) The aggregate of the notional amounts of every derivatives contract which is outstanding. -
Question 22 of 30
22. Question
According to the Securities and Futures (Clearing of Derivatives Contracts) Regulations, which of the following statement describes the “business day”?
Correct
According to the Securities and Futures (Clearing of Derivatives Contracts) Regulations, a “business day” means any day other than a Saturday, Sunday or public holiday.
Incorrect
According to the Securities and Futures (Clearing of Derivatives Contracts) Regulations, a “business day” means any day other than a Saturday, Sunday or public holiday.
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Question 23 of 30
23. Question
According to the Financial Advisers (Remuneration) Regulations 2015, which of the following statement best describes the term “financial adviser”?
I. A “financial adviser” means a clearing financial adviser.
II. A “financial adviser” means a banking financial adviser.
III. A “financial adviser” means a licensed financial adviser.
IV. A “financial adviser” means an exempt financial adviser.Correct
According to the Financial Advisers (Remuneration) Regulations 2015, a “financial adviser” means a licensed financial adviser or an exempt financial adviser.
Incorrect
According to the Financial Advisers (Remuneration) Regulations 2015, a “financial adviser” means a licensed financial adviser or an exempt financial adviser.
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Question 24 of 30
24. Question
According to the Financial Advisers (Remuneration) Regulations 2015, which of the following statement best describes the term “pure protection policy”?
I. A “pure protection policy” means a life policy that has no surrender value.
II. A “pure protection policy” means a life policy the policy money of which is payable only on death.
III. A “pure protection policy” means a life policy the policy money of which is payable only for incapacity due to injury, sickness or infirmity.
IV. A “pure protection policy” means a life policy that has a surrender value.Correct
According to the Financial Advisers (Remuneration) Regulations 2015, the following statements best describes the term “pure protection policy”:-
(a) A “pure protection policy” means a life policy that has no surrender value.
(b) A “pure protection policy” means a life policy the policy money of which is payable only on death.
(c) A “pure protection policy” means a life policy the policy money of which is payable only for incapacity due to injury, sickness or infirmity.Incorrect
According to the Financial Advisers (Remuneration) Regulations 2015, the following statements best describes the term “pure protection policy”:-
(a) A “pure protection policy” means a life policy that has no surrender value.
(b) A “pure protection policy” means a life policy the policy money of which is payable only on death.
(c) A “pure protection policy” means a life policy the policy money of which is payable only for incapacity due to injury, sickness or infirmity. -
Question 25 of 30
25. Question
According to the Financial Advisers (Remuneration) Regulations 2015, which of the following statement best describes the meaning of “relevant person”?
I. A “relevant person” means a chief executive officer (CEO).
II. A “relevant person” means a representative of a financial adviser.
III. A “relevant person” means a supervisor of a financial adviser.
IV. A “relevant person” means a financial adviser.Correct
According to the Financial Advisers (Remuneration) Regulations 2015, the following statements best describes the meaning of “relevant person”:-
(a) A “relevant person” means a representative of a financial adviser.
(b) A “relevant person” means a supervisor of a financial adviser.
(c) A “relevant person” means a financial adviser.Incorrect
According to the Financial Advisers (Remuneration) Regulations 2015, the following statements best describes the meaning of “relevant person”:-
(a) A “relevant person” means a representative of a financial adviser.
(b) A “relevant person” means a supervisor of a financial adviser.
(c) A “relevant person” means a financial adviser. -
Question 26 of 30
26. Question
According to the Financial Advisers (Remuneration) Regulations 2015, which of the following statement best describes the meaning of “single premium life policy”?
I. The premium of which is payable as a lump sum on or after the date of commencement of coverage under the policy.
II. All premiums of which are payable within a period of no more than 12 months starting from the date of commencement of coverage under the policy.
III. The premium of which is payable as a lump sum on or before the date of commencement of coverage under the policy.
IV. All premiums of which are payable within a period of no more than 6 months starting from the date of commencement of coverage under the policy.Correct
According to the Financial Advisers (Remuneration) Regulations 2015, the following statement best describes the meaning of “single premium life policy”:-
(a) All premiums of which are payable within a period of no more than 12 months starting from the date of commencement of coverage under the policy.
(b) The premium of which is payable as a lump sum on or before the date of commencement of coverage under the policy.Incorrect
According to the Financial Advisers (Remuneration) Regulations 2015, the following statement best describes the meaning of “single premium life policy”:-
(a) All premiums of which are payable within a period of no more than 12 months starting from the date of commencement of coverage under the policy.
(b) The premium of which is payable as a lump sum on or before the date of commencement of coverage under the policy. -
Question 27 of 30
27. Question
According to the Financial Advisers (Remuneration) Regulations 2015, which of the following statement best describes the meaning of “specified life policy”?
I. The policy owner is not an individual unless the individual holds the policy in the individual’s capacity as a sole proprietor.
II. A life policy in respect of which there are 2 or more insured persons.
III. The premium of which is payable as a lump sum on or before the date of commencement of coverage under the policy.
IV. A life policy in respect of which there only one insured persons.Correct
According to the Financial Advisers (Remuneration) Regulations 2015, the following statement best describes the meaning of “specified life policy”:-
(a) The policy owner is not an individual unless the individual holds the policy in the individual’s capacity as a sole proprietor.
(b) A life policy in respect of which there are 2 or more insured persons.Incorrect
According to the Financial Advisers (Remuneration) Regulations 2015, the following statement best describes the meaning of “specified life policy”:-
(a) The policy owner is not an individual unless the individual holds the policy in the individual’s capacity as a sole proprietor.
(b) A life policy in respect of which there are 2 or more insured persons. -
Question 28 of 30
28. Question
The notice on the distribution of Direct Purchase Insurance Products (DPI) issued pursuant to section 58 of the Financial Advisers Act (Cap. 110) is applies to which of the following authorities?
I. The Notice applies to a licensed financial adviser.
II. The Notice applies to a chief executive officer.
III. The Notice applies to an exempt financial adviser.
IV. The Notice applies to a representative of a financial adviser.Correct
The notice on the distribution of Direct Purchase Insurance Products (DPI) issued pursuant to section 58 of the Financial Advisers Act (Cap. 110) is applies to the following authorities:-
(a) The Notice applies to a licensed financial adviser.
(b) The Notice applies to an exempt financial adviser.
(c) The Notice applies to a representative of a financial adviser.Incorrect
The notice on the distribution of Direct Purchase Insurance Products (DPI) issued pursuant to section 58 of the Financial Advisers Act (Cap. 110) is applies to the following authorities:-
(a) The Notice applies to a licensed financial adviser.
(b) The Notice applies to an exempt financial adviser.
(c) The Notice applies to a representative of a financial adviser. -
Question 29 of 30
29. Question
A relevant person may request payment or accept remuneration if the financial advisory service is provided to which of the following investors?
I. The financial advisory service is provided to an exempt investor.
II. The financial advisory service is provided to an expert investor.
III. The financial advisory service is provided to an accredited investor.
IV. The financial advisory service is provided to an institutional investor.Correct
A relevant person may request /demand payment or accept remuneration if the financial advisory service is provided or the sale of investment product is made to the following investors:-
(a) The financial advisory service is provided to an expert investor.
(b) The financial advisory service is provided to an accredited investor.
(c) The financial advisory service is provided to an institutional investor.Incorrect
A relevant person may request /demand payment or accept remuneration if the financial advisory service is provided or the sale of investment product is made to the following investors:-
(a) The financial advisory service is provided to an expert investor.
(b) The financial advisory service is provided to an accredited investor.
(c) The financial advisory service is provided to an institutional investor. -
Question 30 of 30
30. Question
A relevant person may request payment or accept remuneration if the payment or remuneration is not dependent whether directly or indirectly on which of the following conditions?
I. The number of contracts entered into for the sale of any type of investment product.
II. The value of contracts entered into for the sale of any type of investment product.
III. The financial advisory service is provided to an institutional investor.
IV. The financial advisory service is provided to an accredited investor.Correct
A relevant person may request/demand payment or accept remuneration if the payment or remuneration is not dependent whether directly or indirectly on the following conditions:-
(a) The number of contracts entered into for the sale of any type of investment product.
(c) The value of contracts entered into for the sale of any type of investment product.Incorrect
A relevant person may request/demand payment or accept remuneration if the payment or remuneration is not dependent whether directly or indirectly on the following conditions:-
(a) The number of contracts entered into for the sale of any type of investment product.
(c) The value of contracts entered into for the sale of any type of investment product.