CISI UAE Financial Rules and Regulations Exam - UAE-Financial-Rules-and-Regulations Exam Practice Test

Question 1

An obligor with a retail primary listing of Sukuk immediately notified the Authority when one of its board directors was replaced. Why was the obligor considered to be in breach of its continuing obligations?

A. The obligor failed to give 14 days' notice

B. The obligor failed to also notify the market

C. The new director held a foreign passport

D. The new director had less than 5 years' experience

Correct Answer: B

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Question 2

A joint-stock company applying for a licence to conduct clearing activities in a commodity market recently appointed a new chairman and a new CEO. Why did this lead to the application being refused?

A. They had been employed by the company during the previous year

B. Only the CEO's compensation had been approved by the Authority

C. Only the chairman held a tranche of the company's shares

D. They were supported by just three other board members

Correct Answer: A

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Question 3

The contract size for an MSCI India Index Futures (INR) contract is:

A. 50 index points x price

B. 25 index points x price

C. 20 index points x price

D. 5 index points x price

Correct Answer: A

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Question 4

Where an applicant for a financial activities licence uses a cloud-based server, they must set out provisions to ensure the outsourced party can operate with zero data loss for what stated period?

A. Three years

B. Seven years

C. Five years

D. Ten years

Correct Answer: C

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Question 5

The minimum paid-up capital requirement for ranking and advice firms is:

A. AED 5 million

B. AED 50 million

C. none

D. AED 30 million

Correct Answer: A

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Question 6

During an investigation, what should a licensed body do if it discovers that any of the submitted documents or information are incorrect, misleading or have been changed?

A. The Chair and Board of Directors should notify the Authority and tender their resignations

B. Call an emergency Board meeting and thereafter notify the concerned entity at the Authority

C. Notify the concerned entity at the Authority or any of the capital market institutions immediately

D. Notify the concerned entity at the Authority or any of the capital market institutions within 5 working days

Correct Answer: C

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CISI UAE Financial Rules and Regulations - UAE-Financial-Rules-and-Regulations Exam Practice Test

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