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1. If in-kind shares are provided when the fund is founded; if the subscription fails and there is no special agreement, who would bear the expenses?
A) Auditors
B) Evaluators
C) Share providers
D) Founders
2. In order for the contents of a financial promotion which quotes yield figures to satisfy the clear, fair, and not misleading rule, it should:
A) always assume the communication is intended for a retail client
B) give a balanced impression of both short and long term prospects
C) ensure all monetary examples are calculated to at least two decimal places
D) make the promotion available simultaneously in printed form and online
3. Why might employees in one part of a regulated business be permitted to withhold information from employees in another part of the business?
A) Strict privacy of client information
B) Prevention of insider trading
C) To comply with a Chinese wall
D) At the request of the audit function
4. For all local funds, a semi-annual report on the public fund's performance must be prepared no later than:
A) 45 days from the end of the semi-annual period
B) 2 months from the end of the semi-annual period
C) 30 days from the end of the financial year
D) 2 months from the end of the financial year
5. Where a client is a legal person, the customer due diligence obligations require verification of identity for any natural persons holding what minimum controlling ownership interest?
A) 3%
B) 25%
C) 10%
D) 51%
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: B |
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