CMFAS Securities Regulations M1

Question 1

Which act primarily governs the securities and futures industry in Singapore?

Accepted Answer

Securities and Futures Act (SFA)

Answer

Companies Act

Answer

Banking Act

Answer

Insurance Act

Question 2

What is the primary role of the Monetary Authority of Singapore (MAS)?

Accepted Answer

To regulate and supervise the financial sector

Answer

To collect taxes

Answer

To manage government spending

Answer

To operate the stock exchange

Question 3

Which of the following activities requires a Capital Markets Services (CMS) licence?

Accepted Answer

Dealing in securities

Answer

Selling groceries online

Answer

Providing accounting services

Answer

Offering insurance policies

Question 4

What is the purpose of the Securities and Futures (Licensing and Conduct of Business) Regulations?

Accepted Answer

To prescribe licensing requirements and conduct standards

Answer

To set tax rates for financial institutions

Answer

To determine stock prices

Answer

To regulate real estate transactions

Question 5

Who is required to pass the CMFAS examinations?

Accepted Answer

Representatives of licensed financial institutions

Answer

All Singapore citizens

Answer

University professors

Answer

Government employees

Question 6

What is the minimum base capital requirement for a holder of a CMS licence for dealing in securities?

Accepted Answer

$500,000

Answer

$50,000

Answer

$250,000

Answer

$1,000,000