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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Authorised Persons | 6% | - Licensing and authorization requirements - Obligations of authorized firms and individuals - Conduct of business rules |
| Topic 2: Market Conduct Legislation and Regulation | 28% | - Disclosure and transparency obligations - Financial crime, AML and CFT regulations - Insider dealing and market abuse |
| Topic 3: Trading | 20% | - Market integrity and surveillance - Trading rules and mechanisms - Reporting and compliance requirements |
| Topic 4: The Regulatory Infrastructure | 10% | - Roles and powers of regulators - Regulatory bodies: SCA, CBUAE, DFSA, FSRA - Legislative framework and regulatory objectives |
| Topic 5: Markets | 10% | - UAE exchanges: DFM, ADX, NASDAQ Dubai - Trading and settlement rules - Listing and admission requirements |
| Topic 6: Associated Market and Securities Legislation and Practice | 6% | - Securities laws and regulations - Market operation rules - Legal obligations of market participants |
| Topic 7: Client Protection | 20% | - Communications, reporting and complaints handling - Client identification and classification - Client assets and money protection |
1. 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) No correction will be made
B) It will be re-determined
C) The provider will correct it
D) Liability is apportioned
2. When collecting data from official authorities, evaluators of investment fund in-kind shares are required to abide by the principles of honesty, justice and:
A) prudence
B) equality
C) governance
D) confidentiality
3. The written agreement between a crypto asset custodian and the holders of these assets must set out the procedures that will be adopted to identify and prevent:
A) The execution of multiple instructions in respect of the same transaction
B) The ownership of the assets by persons who are not qualified investors
C) The assets being used to disproportionately benefit one investor over another
D) The holding of keys by any of its employees
4. Where a local investment fund is established by an entity licensed to conduct family investment management, what minimum proportion of the units must be owned by family members?
A) 100%
B) 51%
C) 90%
D) 75%
5. The disclosure of a licensed body's legal status, including the fact that it is licensed by the Authority, is important because:
A) it allows third party firms to use, utilise, or copy the Authority's logo for any reason and this reassures clients
B) it forces firms to disclose their regulatory status and that they are subject to the Authority's control and supervision
C) it ensures that no clients suffer from perceived or actual misbehaviour at the hands of a firm which is regulated
D) it enables those that might suffer from perceived or actual misbehaviour at the hands of a firm to raise their concerns with the regulator
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: D |
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