CMFAS

CMFAS
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Updated as of 2 Apr 2019

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All CMFAS exam mock paper updated as of 2 Apr 2019

CMFAS M1A mock paper (200 Questions + Answer sheet PDF).
CMFAS M1A Exam Question:
In the event of any conflict between the provisions of the following instruments, which of the following will have the highest level of precedence and prevail over the other instruments?
a) Rules
b) Directives
c) Legislation
d) Practice Notes


CMFAS M1B mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M1B Exam Question
Representatives are allowed to deal in securities whereby:
a) there is no change in beneficial ownership
b) they hold themselves out as having executed without having effected a bona fide purchase or sale
c) they induce other persons to buy or sell the securities
d) they appoint another person to enter orders on the Trading System


CMFAS M2A mock paper (200 questions + answer sheet PDF)
2 Apr 2019 - CMFAS M2A Exam Question
Which statement regarding the Error Trade Rule is false?
a) Trades that are excluded from the Error Trade Policy may be cancelled if the relevant parties agree to the cancellation.
b) All trades on SGX-DT are eligible for price adjustment under the Error Trade Rule.
c) SGX has the right to consider relevant market information to determine the Error Trade Price Range.
d) The Error Trade Price Range is calculated using the Reference Price and the volatility range for the contract.


CMFAS M3 mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M3 Exam Question
Which statement regarding a Fund Management Company (FMC) is false?
a) It cannot procure the services of entities in which its CEO has controlling interests.
b) It may invest into the fund using moneys belonging to its related entities or employees.
c) It may invest customer moneys into the securities of its related entities.
d) It should ensure that there is adequate disclosure to its customers in respect of each fund that it manages.


CMFAS M4A mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M4A Exam Question
Which of the following persons is NOT subject to any moratorium requirements after acquiring shares in an Initial Public Offering (IPO)?
a) Promoters of the IPO.
b) A consultant to the issuer of the IPO.
c) Investors who are connected to the Issue Manager.
d) Pre-IPO investors who had acquired their shares for more than 12 months after the date of listing application.


CMFAS M5 mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M5 Exam Question
Which of the following statements is NOT true?
a) A licensed financial adviser cannot defend themselves against a failure to disclose conflict of interest as they are expected to be aware of it.
b) All classes of insurance business are prohibited from being carried out unless that person is registered by the MAS.
c) A Provisional representative must concurrently send to an authorized person all electronic mail that he sends to any client.
d) The MAS may determine the manner in which a licensed financial adviser may receive or deal with client's money.


CMFAS M6 mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M6 Exam Question
Which of the following occurs in an interest rate swap?
a) Net interest payments are made and the notional principal is swapped
b) Net interest payments are made
c) Notional principal is returned
d) Net notional principal is swapped


CMFAS M6A mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M6A Exam Question
A trader sells short a commodity and lends the money to received to buy a futures contract. He accepts the delivery from the futures contract and uses the commodity received to cover the short sale and also earns himself a profit. This action is known as:
a) Borrow-and-recover arbitrage.
b) Cash-and-carry arbitrage.
c) Reverse borrow-and-recover arbitrage.
d) Reverse cash-and-carry arbitrage.


CMFAS M8 mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M8 Exam Question
Which of the following is NOT a benefit of investing in Unit Trusts?
a) Portfolio is managed by a professional.
b) Investing in a diversified mix of securities.
c) Ability to invest with a small capital outlay.
d) Ability to control the investment mix.


CMFAS M8A mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M8A Exam Question
Which of the following is an example of a close-ended Collective Investment Scheme (CIS) in Singapore?
a) Real Estate Investment Trusts
b) Unit Trusts
c) Mutual Funds
d) Structured Funds


CMFAS M9 mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M9 Exam Question
Trustees and beneficiaries of a trust are not allowed to purchase policies on the life of the settlor under which of the following situations?
a) The life insured is the settlor
b) The life insured is the beneficiary of the trust
c) The life insured is the trustee of the trust
d) The settlor consents in writing to the effecting of the insurance before it is effected


CMFAS M9A mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M9A Exam Question
Which of the following is a similarity of a reverse convertible bond and a discount certificate?
a) They have the same risk-return profiles
b) They offer uncapped upside potential
c) They offer downside protection
d) They are structured by combining two different types of options


CMFAS M10 mock paper (100 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS M10 Exam Question
Which of the following is NOT required to be disclosed to REIT investors?
a) The amount of income support payments received by the shareholders
b) Lease expiry profile
c) Refinancing needs of the REIT
d) Remuneration policy for directors of the REIT


CMFAS HI mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CMFAS HI Exam Question
Which of the following statements regarding Long Term Care Insurance is not true?
a) The insured need not be hospitalized to be eligible to receive benefits.
b) The insured can only receive benefits after the deferred period.
c) It does not cover pre-existing conditions.
d) It cannot be issued at sub-standard premium rates. 


CMFAS BCP mock paper Set A (150 Questions + Answer sheet PDF)
2 Apr 2019 - BCP Exam Question
A direct insurer arranges for a Catastrophe Excess of Loss Reinsurance cover for "$5M excess of $2M any one loss occurrence". In the event of a $7M loss, the direct insurer's share of the loss is:
a) $2M
b) $3M
c) $5M
d) Nothing


CMFAS CGI mock paper (100 Questions + Answer sheet PDF)
2 Apr 2019 - ComGI Exam Question
Which type of Fidelity Guarantee Insurance stipulates the maximum amount for which the insurer is liable, regardless of the number of faults occurred or the number of employees involved in the default?
a) Floating Policy
b) Blanket Policy
c) Individual Policy
d) Collective Policy


CMFAS PGI mock paper (100 Questions + Answer sheet PDF)
2 Apr 2019 - PGI Exam Question
Which type of liability is most frequently applied to activities involving hazardous materials?
a) Absolute liability
b) Vicarious liability
c) Common Law liability
d) Public liability


FMRP mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - FMRP Exam Question
Which of the following statements is NOT true?
a) Under normal circumstances, trades should only be cancelled on the basis that the price traded is not representative of the prevailing market price.
b) Any trade where the only errors it the notional value or the number of contracts traded should ordinarily be subject to cancellation unless in exceptional circumstances.
c) Trades once exceuted will stand and not be adjusted or cancelled arbitrarily.
d) Trades once executed may trigger further trades.


CACS 1 mock paper (160 Questions + Answer sheet PDF)
2 Apr 2019 - CACS Paper 1 Exam Question
Which of the following types of transactions are suspicious transactions?
a) Transfer of money to a Covered Entity without indicating the beneficiary.
b) Transfer of money abroad by a customer.
c) Frequent withdrawal of large amounts by cheque.
d) Purchasing of foreign currencies in substantial amounts by cash settlement despite the customer having an account with the Covered Entity.


CACS 2 mock paper (200 Questions + Answer sheet PDF)
2 Apr 2019 - CACS Paper 2 Exam Question
Which of the following types of shares subject a shareholder to the highest amount of risk if its share price falls?
a) Cumulative Preferred Shares.
b) Non-cumulative Preferred Shares.
c) Common Shares.
d) Putable Shares.


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