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Question 1 of 30
1. Question
According to the Monetary Authority of Singapore Act, if a director is interested in a contract made and authority discloses his interest at the first meeting of the board at which he is present. Which of the following is the procedure to award the contract?
I. The director shall not take part in any deliberation or decision of the board with respect to that contract
II. The director shall be disregarded for the purpose of constituting a quorum of the board for any such deliberation or decision
III. The director shall be included for the purpose of constituting a quorum of the board for any such deliberation or decision
IV. The director shall take part in any deliberation or decision of the board with respect to that contractCorrect
According to the Monetary Authority of Singapore Act, A director who is, directly or indirectly, interested in a contract made, or proposed to be made, by the Authority shall disclose the nature of his interest at the first meeting of the board at which he is present after the relevant facts have come to his knowledge.
(A) The director shall not take part in any deliberation or decision of the board with respect to that contract
(B) The director shall be disregarded for the purpose of constituting a quorum of the board for any such deliberation or decisionIncorrect
According to the Monetary Authority of Singapore Act, A director who is, directly or indirectly, interested in a contract made, or proposed to be made, by the Authority shall disclose the nature of his interest at the first meeting of the board at which he is present after the relevant facts have come to his knowledge.
(A) The director shall not take part in any deliberation or decision of the board with respect to that contract
(B) The director shall be disregarded for the purpose of constituting a quorum of the board for any such deliberation or decision -
Question 2 of 30
2. Question
According to the Monetary Authority of Singapore Act, which of the following are bound not to disclose any information relating to the affairs of the Authority to any other person?
I. A director of the Authority
II. An officer or employee of the Authority
III. All personnel related to authority are hereby allowed to disclose any information to any person or organization
IV. A consultant or agent of the AuthorityCorrect
According to the Monetary Authority of Singapore Act, the following are bound not to disclose any information relating to the affairs of the Authority to any other person:-
(A) A director of the Authority
(B) An officer or employee of the Authority
(C) A consultant or agent of the AuthorityIncorrect
According to the Monetary Authority of Singapore Act, the following are bound not to disclose any information relating to the affairs of the Authority to any other person:-
(A) A director of the Authority
(B) An officer or employee of the Authority
(C) A consultant or agent of the Authority -
Question 3 of 30
3. Question
According to the Monetary Authority of Singapore Act and penal code (Cap 224), who is referred as public servants?
I. The directors, including the managing director of the Authority
II. The officers of the Authority
III. An agent of the Authority
IV. The employees of the AuthorityCorrect
According to the Monetary Authority of Singapore Act and penal code (Cap 224), following are referred as public servants:-
(A) The directors, including the managing director of the Authority
(B) The officers of the Authority
(C) The employees of the AuthorityIncorrect
According to the Monetary Authority of Singapore Act and penal code (Cap 224), following are referred as public servants:-
(A) The directors, including the managing director of the Authority
(B) The officers of the Authority
(C) The employees of the Authority -
Question 4 of 30
4. Question
According to the Monetary Authority of Singapore Act and penal code (Cap 224), the directors, including the managing director, and the officers and employees of the Authority are referred for which of the following?
Correct
According to the Monetary Authority of Singapore Act and penal code (Cap 224), following are referred as public servants:-
(A) The directors, including the managing director of the Authority
(B) The officers of the Authority
(C) The employees of the AuthorityIncorrect
According to the Monetary Authority of Singapore Act and penal code (Cap 224), following are referred as public servants:-
(A) The directors, including the managing director of the Authority
(B) The officers of the Authority
(C) The employees of the Authority -
Question 5 of 30
5. Question
According to the Monetary Authority of Singapore Act, the Authority may engage the services of advisers for which of the following grounds?
Correct
According to the Monetary Authority of Singapore Act, the services of advisers can be rendered on such terms and conditions as it thinks fit.
Incorrect
According to the Monetary Authority of Singapore Act, the services of advisers can be rendered on such terms and conditions as it thinks fit.
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Question 6 of 30
6. Question
According to the Monetary Authority of Singapore Act, the Authority may make which of the following rules for its employees to run Authority smoothly?
I. Rules for the appointment and promotion of the employees
II. Rules for conduct and discipline of the employees
III. Rule and regulations are the sole responsibility of the cabinet on the advice of the central bank of Singapore
IV. Rules for terms and conditions of service of the employeesCorrect
According to the Monetary Authority of Singapore Act, the Authority may make the following rules for its employees to run Authority smoothly:-
(A) Rules for the appointment and promotion of the employees
(B) Rules for conduct and discipline of the employees
(C) Rules for terms and conditions of service of the employeesIncorrect
According to the Monetary Authority of Singapore Act, the Authority may make the following rules for its employees to run Authority smoothly:-
(A) Rules for the appointment and promotion of the employees
(B) Rules for conduct and discipline of the employees
(C) Rules for terms and conditions of service of the employees -
Question 7 of 30
7. Question
According to the Monetary Authority of Singapore Act, who make a rule for payment of pensions or gratuity etc?
Correct
According to the Monetary Authority of Singapore Act, The Authority may make rules with the approval of the President for payment of pensions or gratuity to its employees.
Incorrect
According to the Monetary Authority of Singapore Act, The Authority may make rules with the approval of the President for payment of pensions or gratuity to its employees.
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Question 8 of 30
8. Question
According to the Monetary Authority of Singapore Act, No action, suit or other legal proceedings shall be started against which of the following?
I. The Authority
II. Any director, officer or employee of the Authority
III. It is incorrect to say any immunity to the authority or its employees
IV. Any person who is on secondment or attachment to the AuthorityCorrect
According to the Monetary Authority of Singapore Act, No action, suit or other legal proceedings shall be started against which of the following?
(A) The Authority
(B) Any director, officer or employee of the Authority
(C) Any public officer
(D) Any person appointed by the authority or by the ministry using the power for performing duties assigned to him
(E) Any person who is on secondment or attachment to the AuthorityIncorrect
According to the Monetary Authority of Singapore Act, No action, suit or other legal proceedings shall be started against which of the following?
(A) The Authority
(B) Any director, officer or employee of the Authority
(C) Any public officer
(D) Any person appointed by the authority or by the ministry using the power for performing duties assigned to him
(E) Any person who is on secondment or attachment to the Authority -
Question 9 of 30
9. Question
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested which of the following?
I. Gold coin or bullion
II. Notes, coins, money at call and deposits in such country or countries as may be approved by the board
III. Treasury bills of such government or governments as may be approved by the board
IV. In gambling, where it suits for doubling the moneyCorrect
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested in following securities, bonds or market after approval of the board of directors:-
(A) Gold coin or bullion
(B) Notes, coins, money at call and deposits in such country or countries as may be approved by the board
(C) Treasury bills of such government or governments as may be approved by the board
(D) In securities of government
(E) Any other securities except governmentIncorrect
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested in following securities, bonds or market after approval of the board of directors:-
(A) Gold coin or bullion
(B) Notes, coins, money at call and deposits in such country or countries as may be approved by the board
(C) Treasury bills of such government or governments as may be approved by the board
(D) In securities of government
(E) Any other securities except government -
Question 10 of 30
10. Question
In Market Regulation objectives what is Promote Fairness?
I. Regulators solve agency problems by setting minimum standards of competence for agents like the CFA or GIPS
II. Laws against insider trading, for instance, help to level the playing field
III. Regulators aim to reduce profits that insiders could extract from the markets
IV. Regulators help analysts easily compare companies by requiring compliance with accounting standards set by IASB, FASBCorrect
The objectives of market regulation are to control fraud, control agency problems, promote fairness, set mutually beneficial standards, prevent undercapitalized financial firms from making excessively risky investments, and to ensure that long-term liabilities are funded. Promote Fairness can be explained as when regulators aim to reduce profits that insiders could extract from the markets. Laws against insider trading, for instance, help to level the playing field.
Incorrect
The objectives of market regulation are to control fraud, control agency problems, promote fairness, set mutually beneficial standards, prevent undercapitalized financial firms from making excessively risky investments, and to ensure that long-term liabilities are funded. Promote Fairness can be explained as when regulators aim to reduce profits that insiders could extract from the markets. Laws against insider trading, for instance, help to level the playing field.
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Question 11 of 30
11. Question
In Market Regulation objectives, what is Set Mutually Beneficial Standards?
Correct
The objectives of market regulation are to control fraud, control agency problems, promote fairness, set mutually beneficial standards, prevent undercapitalized financial firms from making excessively risky investments, and to ensure that long-term liabilities are funded.
Set Mutually Beneficial Standards can be explained as when the regulators help analysts easily compare companies by requiring compliance with accounting standards set by IASB, FASB, and others.Incorrect
The objectives of market regulation are to control fraud, control agency problems, promote fairness, set mutually beneficial standards, prevent undercapitalized financial firms from making excessively risky investments, and to ensure that long-term liabilities are funded.
Set Mutually Beneficial Standards can be explained as when the regulators help analysts easily compare companies by requiring compliance with accounting standards set by IASB, FASB, and others. -
Question 12 of 30
12. Question
In Market Regulation objectives, what is Prevent Excessive Risk?
Correct
The objectives of market regulation are to control fraud, control agency problems, promote fairness, set mutually beneficial standards, prevent undercapitalized financial firms from making excessively risky investments, and to ensure that long-term liabilities are funded.
Prevent Excessive Risk can be explained as when the regulators require financial firms to maintain minimum levels of capital so that the firms honour their commitments and so that the firm’s owners have some “skin in the game.”Incorrect
The objectives of market regulation are to control fraud, control agency problems, promote fairness, set mutually beneficial standards, prevent undercapitalized financial firms from making excessively risky investments, and to ensure that long-term liabilities are funded.
Prevent Excessive Risk can be explained as when the regulators require financial firms to maintain minimum levels of capital so that the firms honour their commitments and so that the firm’s owners have some “skin in the game.” -
Question 13 of 30
13. Question
Market Regulation objectives, what is Ensure Liabilities are Funded?
Correct
The objectives of market regulation are to control fraud, control agency problems, promote fairness, set mutually beneficial standards, prevent undercapitalized financial firms from making excessively risky investments, and to ensure that long-term liabilities are funded.
Ensure Liabilities are Funded can be explained as when regulators watch over insurance companies and pension funds to ensure adequate reserves are maintained to cover liabilities because managers of these entities tend to underestimate long-term liabilities especially when there is an incentive not to do so.Incorrect
The objectives of market regulation are to control fraud, control agency problems, promote fairness, set mutually beneficial standards, prevent undercapitalized financial firms from making excessively risky investments, and to ensure that long-term liabilities are funded.
Ensure Liabilities are Funded can be explained as when regulators watch over insurance companies and pension funds to ensure adequate reserves are maintained to cover liabilities because managers of these entities tend to underestimate long-term liabilities especially when there is an incentive not to do so. -
Question 14 of 30
14. Question
Who clarifies that under the Currency Act, vendors are allowed to choose not to accept any denomination of currency coins or notes, provided that the vendor gives written notice to customers prior to a transaction?
Correct
The Monetary Authority of Singapore clarifies that under the Currency Act, vendors are allowed to choose not to accept any denomination of currency coins or notes, provided that the vendor gives written notice to customers prior to a transaction.
Incorrect
The Monetary Authority of Singapore clarifies that under the Currency Act, vendors are allowed to choose not to accept any denomination of currency coins or notes, provided that the vendor gives written notice to customers prior to a transaction.
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Question 15 of 30
15. Question
The mission to promote sustained and non-inflationary economic growth, and a sound and progressive financial services sector belong to which of the following?
Correct
It is the mission of the Monetary Authority of Singapore (MAS) to promote sustained and non-inflationary economic growth, and a sound and progressive financial services sector. To carry out this mission, MAS conducts exchange rate policy, manages the official foreign reserves, regulates and supervises the financial sector, and works with the industry to develop Singapore as an international financial centre.
Incorrect
It is the mission of the Monetary Authority of Singapore (MAS) to promote sustained and non-inflationary economic growth, and a sound and progressive financial services sector. To carry out this mission, MAS conducts exchange rate policy, manages the official foreign reserves, regulates and supervises the financial sector, and works with the industry to develop Singapore as an international financial centre.
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Question 16 of 30
16. Question
Which of the following is to develop by The Monetary Authority of Singapore (MAS) to promote sustained and non-inflationary economic growth, and a sound and progressive financial services sector?
I. MAS conducts exchange rate policy
II. MAS manages the official foreign reserves
III. MAS regulates and supervises the financial sector
IV. To promote terror financingCorrect
It is the mission of the Monetary Authority of Singapore (MAS) to promote sustained and non-inflationary economic growth, and a sound and progressive financial services sector. To carry out this mission, MAS conducts exchange rate policy, manages the official foreign reserves, regulates and supervises the financial sector, and works with the industry to develop Singapore as an international financial centre.
Incorrect
It is the mission of the Monetary Authority of Singapore (MAS) to promote sustained and non-inflationary economic growth, and a sound and progressive financial services sector. To carry out this mission, MAS conducts exchange rate policy, manages the official foreign reserves, regulates and supervises the financial sector, and works with the industry to develop Singapore as an international financial centre.
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Question 17 of 30
17. Question
What are The objectives or desired outcomes of the Monetary Authority of Singapore’s supervisory activities?
I. To Work with the Government
II. A stable financial system
III. Safe and sound financial intermediaries
IV. Safe and efficient financial infrastructureCorrect
To fulfil the mission of a sound and progressive financial services sector requires achieving some distinct objectives. The objectives or desired outcomes of the Monetary Authority of Singapore’s supervisory activities are a stable financial system, safe and sound financial intermediaries, safe and efficient financial infrastructure, fair, efficient and transparent organised markets, transparent and fair-dealing intermediaries and offerors and well-informed and empowered consumers.
Incorrect
To fulfil the mission of a sound and progressive financial services sector requires achieving some distinct objectives. The objectives or desired outcomes of the Monetary Authority of Singapore’s supervisory activities are a stable financial system, safe and sound financial intermediaries, safe and efficient financial infrastructure, fair, efficient and transparent organised markets, transparent and fair-dealing intermediaries and offerors and well-informed and empowered consumers.
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Question 18 of 30
18. Question
The objectives of desired outcomes of the Monetary Authority of Singapore’s supervisory activities, which objective has to provide the basis for participants to trade in the financial markets and use the services of financial institutions with confidence?
Correct
The objectives of desired outcomes of the Monetary Authority of Singapore’s supervisory activities, A stable financial system provides the basis for participants to trade in the financial markets and use the services of financial institutions with confidence.
Incorrect
The objectives of desired outcomes of the Monetary Authority of Singapore’s supervisory activities, A stable financial system provides the basis for participants to trade in the financial markets and use the services of financial institutions with confidence.
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Question 19 of 30
19. Question
The objectives of desired outcomes of the Monetary Authority of Singapore’s supervisory activities, which objective provides the services and facilities underpinning financial market activities, such as exchanges clearinghouses, and payment and settlement systems?
Correct
The objectives of desired outcomes of the Monetary Authority of Singapore’s supervisory activities The “Safe and efficient financial infrastructure” provides the services and facilities underpinning financial market activities, such as exchanges, clearinghouses, and payment and settlement systems.
Incorrect
The objectives of desired outcomes of the Monetary Authority of Singapore’s supervisory activities The “Safe and efficient financial infrastructure” provides the services and facilities underpinning financial market activities, such as exchanges, clearinghouses, and payment and settlement systems.
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Question 20 of 30
20. Question
The objectives of desired outcomes of the Monetary Authority of Singapore’s supervisory activities, on what thing the focus of much of MAS’ regulation and supervision is?
Correct
The objectives of desired outcomes of MAS’ supervisory activities, The focus of much of MAS’ regulation and supervision is on the safety and soundness of financial intermediaries such as banks, insurance companies, and broker-dealer and fund management firms.
Incorrect
The objectives of desired outcomes of MAS’ supervisory activities, The focus of much of MAS’ regulation and supervision is on the safety and soundness of financial intermediaries such as banks, insurance companies, and broker-dealer and fund management firms.
-
Question 21 of 30
21. Question
In objectives of Regulation of Markets, which is the market in which supply and demand for a product or security are roughly equal?
Correct
In objectives of Regulation of Markets, a market in which supply and demand for a product or security are roughly equal is Orderly markets. Orderly markets tend not to be volatile and prices tend to reflect the true value of the product or security.
Incorrect
In objectives of Regulation of Markets, a market in which supply and demand for a product or security are roughly equal is Orderly markets. Orderly markets tend not to be volatile and prices tend to reflect the true value of the product or security.
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Question 22 of 30
22. Question
In objectives of Regulation of Markets, which is the market that is characterised by proper trading practices, non-discriminatory access to market facilities and information, and one that does not tilt the playing field in favour of some participants over others?
Correct
In objectives of Regulation of Markets, a fair market is one that is characterised by proper trading practices, non-discriminatory access to market facilities and information, and one that does not tilt the playing field in favour of some participants over others.
Incorrect
In objectives of Regulation of Markets, a fair market is one that is characterised by proper trading practices, non-discriminatory access to market facilities and information, and one that does not tilt the playing field in favour of some participants over others.
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Question 23 of 30
23. Question
In objectives of Regulation of Markets, which the market that the degree to which information about trading (both pre-trade and post-trade) is made publicly available on a real-time basis?
Correct
In objectives of Regulation of Markets, transparency may be defined as the degree to which information about trading (both pre-trade and post-trade) is made publicly available on a real-time basis.
Incorrect
In objectives of Regulation of Markets, transparency may be defined as the degree to which information about trading (both pre-trade and post-trade) is made publicly available on a real-time basis.
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Question 24 of 30
24. Question
In objectives of Regulation of Markets, which is the market that refers to the degree to which market prices reflect all available, relevant information?
Correct
In objectives of Regulation of Markets, market efficiency refers to the degree to which market prices reflect all available, relevant information. If markets are efficient, then all information is already incorporated into prices, and so there is no way to “beat” the market because there are no undervalued or overvalued securities available.
Incorrect
In objectives of Regulation of Markets, market efficiency refers to the degree to which market prices reflect all available, relevant information. If markets are efficient, then all information is already incorporated into prices, and so there is no way to “beat” the market because there are no undervalued or overvalued securities available.
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Question 25 of 30
25. Question
In objectives of Regulation of Markets, what is a regulated market?
I. A market over which people exert a level of oversight and control.
II. A market over which government bodies exert a level of oversight and control.
III. A market over which government bodies or less commonly exert a level of oversight and control.
IV. A market over which industry or labour groups exert a level of oversight and control.Correct
In objectives of Regulation of Markets, a regulated market is a market over which government bodies or, less commonly, industry or labour groups, exert a level of oversight and control. Market regulation is often controlled by the government and involves determining who can enter the market and the prices they may charge.
Incorrect
In objectives of Regulation of Markets, a regulated market is a market over which government bodies or, less commonly, industry or labour groups, exert a level of oversight and control. Market regulation is often controlled by the government and involves determining who can enter the market and the prices they may charge.
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Question 26 of 30
26. Question
In objectives of Regulation of Markets, what is Systemic risk?
I. It is the possibility that an event at the company level could trigger severe instability
II. It describes an event that can spark a major collapse in a specific industry
III. It is the overall, day-to-day, ongoing risk that can be caused by a combination of factors, including the economy.
IV. It is the possibility that an event at the company level could collapse an entire industry or economy.Correct
Systemic risk is the possibility that an event at the company level could trigger severe instability or collapse an entire industry or economy. Systematic risk is the overall, day-to-day, ongoing risk that can be caused by a combination of factors, including the economy, interest rates, geopolitical issues, corporate health, and other factors.
Incorrect
Systemic risk is the possibility that an event at the company level could trigger severe instability or collapse an entire industry or economy. Systematic risk is the overall, day-to-day, ongoing risk that can be caused by a combination of factors, including the economy, interest rates, geopolitical issues, corporate health, and other factors.
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Question 27 of 30
27. Question
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested which of the following?
Correct
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested in following securities, bonds or market after approval of the board of directors:-
(A) Gold coin or bullion
(B) Notes, coins, money at call and deposits in such country or countries as may be approved by the board
(C) Treasury bills of such government or governments as may be approved by the board
(D) In securities of government
(E) Any other securities except governmentIncorrect
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested in following securities, bonds or market after approval of the board of directors:-
(A) Gold coin or bullion
(B) Notes, coins, money at call and deposits in such country or countries as may be approved by the board
(C) Treasury bills of such government or governments as may be approved by the board
(D) In securities of government
(E) Any other securities except government -
Question 28 of 30
28. Question
According to the Monetary Authority of Singapore Act, the funds of the Authority must not be invested which of the following?
Correct
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested in following securities, bonds or market after approval of the board of directors:-
(A) Gold coin or bullion
(B) Notes, coins, money at call and deposits in such country or countries as may be approved by the board
(C) Treasury bills of such government or governments as may be approved by the board
(D) In securities of government
(E) Any other securities except governmentIncorrect
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested in following securities, bonds or market after approval of the board of directors:-
(A) Gold coin or bullion
(B) Notes, coins, money at call and deposits in such country or countries as may be approved by the board
(C) Treasury bills of such government or governments as may be approved by the board
(D) In securities of government
(E) Any other securities except government -
Question 29 of 30
29. Question
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested which of the following?
Correct
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested in following securities, bonds or market after approval of the board of directors:-
(A) Gold coin or bullion
(B) Notes, coins, money at call and deposits in such country or countries as may be approved by the board
(C) Treasury bills of such government or governments as may be approved by the board
(D) In securities of government
(E) Any other securities except governmentIncorrect
According to the Monetary Authority of Singapore Act, the funds of the Authority may be invested in following securities, bonds or market after approval of the board of directors:-
(A) Gold coin or bullion
(B) Notes, coins, money at call and deposits in such country or countries as may be approved by the board
(C) Treasury bills of such government or governments as may be approved by the board
(D) In securities of government
(E) Any other securities except government -
Question 30 of 30
30. Question
According to the Monetary Authority of Singapore Act, the Authority has the powers to do which of the following?
I. Grant any loan to the Government
II. Overdraft or other credit facilities to the Government
III. It has no right to give loan or credit to Government
IV. Purchase, repurchase, sell, discount and re-discount Treasury bills of the GovernmentCorrect
According to the Monetary Authority of Singapore Act, the Authority has the powers to do the following:-
(A) Grant any loan to the Government
(B) Overdraft or other credit facilities to the Government
(C) Purchase, repurchase, sell, discount and re-discount Treasury bills of the GovernmentIncorrect
According to the Monetary Authority of Singapore Act, the Authority has the powers to do the following:-
(A) Grant any loan to the Government
(B) Overdraft or other credit facilities to the Government
(C) Purchase, repurchase, sell, discount and re-discount Treasury bills of the Government