CMFAS M1A Sample Question
Which of the following is NOT true about the SGX-ST?
a) SGX-ST Rules may be amended by the Board in accordance with the Securities and Futures Act.
b) SGX-ST may prescribe Directives to supplement the Rules.
c) SGX-ST Practice Notes does not bind SGX-ST in the application of a rule.
d) SGX-ST cannot publish transitional arrangements in relation to any amended or new rules.
CMFAS M1B Sample Question
Which of the following statements is NOT true?
a) Where the customer’s order is a careful discretion order, trades allocated to the house error account must not be worse off to that allocated to customer’s account.
b) A Trading Representative can execute an order that will have an impact on the market for, or price of, a security or Futures Contract.
c) A Trading Representative should be alert to orders placed near the close on the last trading day of the month, quarter or year.
d) A Trading Representative is not allowed to purchase substantial volume in a thinly traded counter, which accounts for a large proportion of the market volume, to establish a predetermined price.
CMFAS M3 Sample Question
Which of the following statements regarding a Fund Management Company (FMC) is NOT true?
a) If the managed assets are not subject to independent custody arrangements, the FMC is required to disclose this fact to the investors and to obtain their acknowledgement.
b) An FMC is required to provide the investor with an audit report of the assets each year.
c) An FMC that manages private equity and venture capital funds are not required to comply with client segregation requirements in respect of client moneys.
d) An FMC that acts as investment adviser to another investment manager should satisfy itself that the assets that it advises on are subject to independent custody.
CMFAS M5 Sample Question
Which of the following statements is NOT true about the Representative Notification Framework (RNF)?
a) Principals will need to lodge a notice of intent with MAS and provide fit and proper certification in respect of their representatives.
b) Representatives names and history are recorded on the Public Register of Representatives.
c) The Public Register of Representatives is accessible to the public.
d) Each representative of a financial adviser has to be himself licensed with MAS to engage in the activity for which his principal holds a licence from MAS.
CMFAS M6 Sample Question
A warrant has an exercise price of $5 on a stock that currently trades at $4. Upon the expiration of the warrant, the underlying stock trades at $6. An investor will make:
CMFAS M6A Sample Question
Which of the following statements regarding cash market is false?
a) In a cash market, the exchange of goods and money between the seller and the buyer takes place at a specified date in the future
b) When comparing a specific commodity, the price in the cash market is usually less than its price in the futures market
c) The cash market is also known as the spot market
d) Cash market transactions can take place either on a regulated exchange or over-the-counter (OTC)
CMFAS M8 Sample Question
Which of the following statements are NOT true regarding Single Stock Futures (SSF)?
a) In a short SSF position, the investor is obligated to deliver the stock.
b) SSF will closely follow the underlying stock’s movement.
c) SSF contracts can usually be financed by margin.
d) SSFs are futures contracts between two parties to exchange a specified number of stocks in a company for a price agreed today.
CMFAS M8A Sample Question
Which of the following is NOT true regarding Collective Investment Scheme (CIS)?
a) CIS can take the form of a corporation.
b) The assets of a CIS are held by a third-party custodian.
c) The credit risk of a CIS lies with the product issuer.
d) Investors in structured notes are the general creditors of the financial institutions issuing them in the event of bankruptcy.
CMFAS M9 Sample Question
Which of the following describes the cash value of a policy?
a) The amount of money the policy owner gets after surrendering a policy
b) The total amount of premiums paid for a policy
c) The sum assured plus bonuses paid by the insurer
d) The sum assured minus premiums paid by the insured
CMFAS M9A Sample Question
Structured Notes have which of the following types of characteristics compared to other types of wrappers?
a) High administrative cost
b) Capital guaranteed
HI Sample Question
Which of the following statements is NOT true regarding Long Term Care Insurance?
a) During the benefit payment period, premiums payable are waived.
b) It is available only as a stand-alone policy.
c) There is usually a minimum entry age for application.
d) It is usually issued on a guaranteed renewable basis.
BCP Sample Question
An agreement whereby one or more reinsurers automatically accept all reinsurance which falls within pre-determined limits is known as:
a) Facultative reinsurance
b) Treaty reinsurance
c) proportional reinsurance
d) Non- proportional reinsurance
PGI Sample Question
Which of the following are generally not taken into consideration when underwriting motor insurance?
b) Driving experience
c) Health conditions
CGI Sample Question
Which of the following are not provisions or conditions specific to a Theft Insurance Policy?
a) Alteration made to premises
b) Unoccupied premises for prolonged period of time
c) Hazardous materials stored in premises
d) Burglary alarm is in full operation
FMRP Sample Question
Banks or Brokers engaging in artificial transactions for the purpose of concealing positions or transferring profits and losses. Such activities are also known as?
b) points parking
c) pin pointing
d) position hiding