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A Capital Market Services (CMS) Licence Holder for dealing in securities can trade on a stock market if it entered into a transaction on behalf of a principal whereby the instruction of the principal:

a) was allowed by the CMS Licence Holder.

b) was advised by the CMS Licence Holder.

c) was not solicited by the CMS Licence Holder.

d) was not incited by the CMS Licence Holder.

M1A (Set 1)	Price	Contents in PDF	Last Updated
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A person who is aware of an investigation regarding a money laundering case and discloses to any other person information which is likely to prejudice the investigation is guilty of a:

a) money laundering offence.

b) tipping-off offence.

c) suspicious transaction reporting (STR) offence.

d) failure to comply with Production Order offence.

M1B (Set 1)	Price	Contents in PDF	Last Updated
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In order to qualify for Negotiated Large Trades (NLTs), the minimum volume threshold must be met for:

a) at least one of the legs of the futures contract.

b) at least 50% of the legs of the futures contract.

c) at least 80% of the legs of the futures contract.

d) all legs of the futures contract.

M2A (Set 1)	Price	Contents in PDF	Last Updated
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An individual who is engaged in central dealing for funds managed by related entities of a Licensed Fund Management Company (LFMC) can be any of the following types of representatives except:

a) appointed representatives

b) external representatives

c) provisional representatives

d) temporary representatives

M3 (Set 1)	Price	Contents in PDF	Last Updated
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Which of the following statements regarding IPO price stabilisation is FALSE?

a) If the market price of the shares is below the IPO price, the stabilising manager can purchase shares on the open market.

b) If the market price of the shares is above the IPO price, the stabilising manager can exercise an over-allotment option to acquire the shares at the IPO price.

c) Shares acquired by the stabilising manager through an over-allotment option must be retired.

d) Underwriters of an IPO can borrow shares from the issuer for the purposes of price stabilisation.

M4A (Set 1)	Price	Contents in PDF	Last Updated
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Which of the following statements regarding Financial Advisers is NOT true?

a) A financial adviser who provides financial advisory service in respect of securities has to maintain a register of its interest in securities.

b) A financial adviser can withdraw monies related to a contract of insurance
from a bank account maintained by it.

c) A financial adviser can disclose to its clients any information on past performance in relation to a Collective Investment Scheme based on the simulated results of a hypothetical Collective Investment Scheme.

d) A financial adviser can make comparisons of the past performance of a Collective Investment Scheme with that of another Collective Investment Scheme to a client.

M5 (Set 1)	Price	Contents in PDF	Last Updated
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Which of the following types of equity securities has the lowest risk?

a) Ordinary shares

b) Non-ordinary shares

c) Non-voting shares

d) Preference shares

M6 (Set 1)	Price	Contents in PDF	Last Updated
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Which of the following types of orders is filled immediately at the best possible price?

a) Limit Order

b) Market Order

c) Stop Order

d) Market-if-Touched Order

M6A (Set 1)	Price	Contents in PDF	Last Updated
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Which of the following statements regarding Exchange Traded Funds (ETFs) is NOT true?

a) They are open-ended investment funds.

b) They may use derivatives to track an index or asset.

c) They may issue dividends.

d) They do not have management fees.

M8 (Set 1)	Price	Contents in PDF	Last Updated
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Which of the following statements regarding futures contracts is false?

a) They are standardised contracts traded on exchanges.

b) They are subject to margin requirements.

c) Mark-to-market occurs on a daily basis.

d) Settlement of gains or losses only occurs on delivery date.

M8A (Set 1)	Price	Contents in PDF	Last Updated
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Which type of term insurance is most suitable for insuring against the death of a loan payer?

a) Level Term Insurance

b) Increasing Term Insurance

c) Decreasing Term Insurance

d) Credit Insurance

M9 (Set 1)	Price	Contents in PDF	Last Updated
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Investment management fees of an Investment Linked Policy (ILP) sub-fund are calculated based on a percentage of the:

a) distribution cost

b) assets under management (AUM)

c) bid-offer spread

d) premiums collected

M9A (Set 1)	Price	Contents in PDF	Last Updated
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Increasing the debt cap allows a Real Estate Investment Trust (REIT) to:

a) increase its asset base by issuing new units.

b) increase its asset base without having to issue new units.

c) decrease its asset base by issuing new units.

d) decrease its asset base without having to issue new units.

M10	Price	Contents in PDF	Last Updated
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Which of the following statements is TRUE regarding critical illness insurance?

a) A Critical Illness rider acquires cash value.

b) A Critical Illness rider is automatically terminated once the basic policy is surrendered.

c) Critical Illness coverage will terminate at a specified age.

d) Critical Illness coverage can be issued on a stand-alone basis.

Health Insurance (Set 1)	Price	Contents in PDF	Last Updated
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Which of the following statements about ‘common law’ is NOT TRUE?

a) It is sometimes called ‘unwritten law’.

b) It consists of generally accepted rules and requirements that a civilized society will consider automatic.

c) It can be modified or abolished by statute law.

d) It cannot be modified by the mutual agreement of parties to a contract.

BCP (Set A)	Price	Contents in PDF	Last Updated
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Which of the following statements regarding insurable interest is incorrect?

a) There must be some property, rights, interest or potential liability capable of being insured.

b) The property, rights, interest or potential liability must be the subject matter of the insurance.

c) The insured must not stand in a relationship, recognized by law, with the subject matter of the insurance.

d) The proposer must benefit from the continued existence of the subject matter of the contract or be prejudiced by its loss.

BCP (Set C)	Price	Contents in PDF	Last Updated
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Which of the following statements regarding Blanket Coverage is FALSE?

a) The insurer will pay the amount required to repair or replace the article less depreciation

b) The insurer will not pay more than the amount of blanket coverage in the category

c) The insurer will not pay more than the amount of blanket limit per item for loss to any one article

d) The insurer will pay the insured in cash the replacement cost of the article if mutually agreed upon

PGI (Set A)	Price	Contents in PDF	Last Updated
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If a motor vehicle cannot be restored to a safe pre-accident condition and the total repair costs exceeds the Economic Repair Value, the insurer will have the option to settle the claim on a:

a) Constructive Total Loss Basis

b) Repair Discharge Basis

c) Disabled Vehicles Basis

d) Damage Limit of Indemnity Basis

CGI (Set A)	Price	Contents in PDF	Last Updated
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Which of the following statements is FALSE regarding rollovers of foreign exchange transactions at off-market rates?

a) Maturing forward contracts can be extended or rollover-ed.

b) The current market spot rate should be used to liquidate the maturing contract and used as a base from which the new forward rate is derived.

c) The use of off-market rates is strongly discouraged.

d) Deals done at off-market rates may be used as a means to conceal profit or loss, or to perpetuate a fraud.

FMRP (Set 1)	Price	Contents in PDF	Last Updated
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A Covered Person of a Covered Entity is not allowed to be an appointed representative of more than one principal:

a) unless their principals are related corporations.

b) unless they work in a specialised unit serving High Net Worth Individuals (HNWIs) only.

c) unless they solely conduct venture capital fund management.

d) under all circumstances.

CACS Paper 1 (Set 1)	Price	Contents in PDF	Last Updated
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Which of the following financial instruments can be described as the sale of a security at a specified price with a simultaneous commitment by the borrowing party to buy the security back from the lending party at a specific price and future date?

a) Treasury bills

b) Repurchase agreements

c) Commercial paper

d) Banker’s acceptance

CACS Paper 2 (Set 1)	Price	Contents in PDF	Last Updated
$19.90Add to cart	SGD 19.90	80 Questions + Answer Sheet (PDF file) New Questions Added	4 Oct 2023