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CISI UAE Financial Rules and Regulations Sample Questions:
1. Under what circumstances, if any, is an introducer allowed to provide an investor with financial analysis?
A) Only if no recommendations are made
B) Only if the client proactively requests one
C) Only if it is licensed to do so
D) Under no circumstances
2. If an error in the final cash settlement price of an equity index comes to the attention of the Exchange more than 30 minutes after the publication of the final cash settlement price, what happens?
A) The provider will correct it
B) No correction will be made
C) It will be re-determined
D) Liability is apportioned
3. If a discrepancy comes to light when conducting an external reconciliation, what must the firm do?
A) Investigate and correct it as soon as possible
B) Immediately suspend operations with the third party
C) Close the client's account by close of business on the same day
D) Immediately inform the regulator verbally and follow this up in writing
4. The whistleblowing policy submitted by an applicant for a financial activities licence must include a mechanism for:
A) protecting the reporting employee
B) escalating any reports to board level
C) ensuring all staff have a named reporting contact
D) disciplining staff proven to have breached rules
5. A failure to report suspicions, or gross negligence in implementing processes and procedures in relation to suspicions of money laundering, can result in a fine of:
A) no less than AED 50,000 and no more than AED 1,000,000
B) no less than AED 100,000 and no more than AED 5,000,000
C) no less than AED 1,000,000 and no more than AED 10,000,000
D) no less than AED 100,000 and no more than AED 1,000,000
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: A | Question # 4 Answer: A | Question # 5 Answer: B |
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