Try Free Trial Paper (FMRP) – Khinloke Education

Question 1 of 6

1. Question

Wich of the following scenario would require the performance of client’s due diligent (CDD) according to MAS Notice 626?

When the global market sales- person received enquiry of services from an Investment manager of a hedge funds
When an Investment Manager of a hedge funds request to open an account with the Institution
When the global market sales team conduct a ‘No-deal’ road show to investors
When an Investment Manager of a hedge funds approach a Bank to request to meet a global market sales person

Question 2 of 6

2. Question

What ‘Right’ can be exercise by the non-defaulting party under the ISDA Master Agreement, once a counter-party default its payment due under the Interest rate derivatives?

To close-out and net all transactions covered by the master agreement to reduce its credit exposure
To apply margin receive from the counterparty to reduce outstanding amount owe by the counterparty
The demand for payment to reduce outstanding amount owe by the counterparty
To closed-out and net all transactions executed with the counterparty, to reduce its credit exposure

Question 3 of 6

3. Question

What is the market practice on price quotation when dealing in SGS?

Prices are usually quoted based on current market yield rate
Prices are usually quoted dirty, including accrued interest
Prices are usually quoted clean, including accrued interest
Prices are usually quoted clean, excluding accrued interest

Question 4 of 6

4. Question

Which of the following activities is usually conducted by Investment Banks

Issuing letters of credit
Correspondence Banking
Accepting deposits from public
Underwriting of shares and debt issues

Question 5 of 6

5. Question

Which legislation is set up to enforced the statutory obligations of secrecy in respect to information relating to customers and their accounts?

Part 1 and 2 of the first schedule of the Banking Act chapter 19 (2003 revision edition)
Section 47 of the Banking Act Chapter 19 (2003 revision edition)
Regulation 47 of the Securities and Futures (Licensing and Controls ) Regulation (SFR)
Income Tax Act (Cap. 134)

Question 6 of 6

6. Question

Can you afford to FAIL and RETAKE the FMRP Exam?

No, I do not want to be embarrassed.
Yes

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