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CISI UAE Financial Rules and Regulations Sample Questions:
1. Firms providing investment management services must provide periodic statements to retail clients, in normal circumstances at least every:
A) month
B) 6 months
C) 12 months
D) 3 months
2. Which of the following is an administrative penalty that can be imposed on financial institutions that violate the law and regulations in relation to money laundering and terrorism financing?
A) A penalty of no less than AED 15,000 and no more than AED 5,000,000 for each violation
B) A penalty of no less than AED 50,000 and no more than AED 5,000,000 for each violation
C) A penalty of no less than AED 100,000 and no more than AED 10,000,000 for each violation
D) A penalty of no less than AED 5,000 and no more than AED 1,000,000 for each violation
3. If an offering person arranges the issuance of crypto assets for which funds have been subscribed by investors, controls must be set up to avoid:
A) prices being allowed to fluctuate during the opening offer period
B) prices being determined at the discretion of the issuer
C) subscriptions being taken at excessive levels from non-qualified investors
D) subscriptions being taken at different threshold levels
4. 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 1,000,000 and no more than AED 10,000,000
B) no less than AED 50,000 and no more than AED 1,000,000
C) no less than AED 100,000 and no more than AED 5,000,000
D) no less than AED 100,000 and no more than AED 1,000,000
5. For all local funds, a semi-annual report on the public fund's performance must be prepared no later than:
A) 2 months from the end of the semi-annual period
B) 2 months from the end of the financial year
C) 45 days from the end of the semi-annual period
D) 30 days from the end of the financial year
Solutions:
Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: A |