PRS EM (Part 1)

In order to ensure that for the proper person is appointed for the PRS industry, a Scheme Trustee must be approved by _____?

• SC

• PPA

• PRS members

• PRS providers

In the context of the World Bank’s Pension Conceptual Framework, an example of the THIRD PILLAR would be _____?

• PRS

• KWAP

• EPF

• LTAT

In the context of the PRS, the _____________ holds the assets of the funds on behalf of the __________.

• PRS provider, PRS members

• Scheme Trustee, PRS members

• Scheme Trustee, SC

• Scheme Trustee, PRS provider

Which of the following falls under the voluntary personal retirement scheme?

• EPF

• PRS

• Employer sponsored scheme

• Annuity

Why is the role of the SC crucial in the PRS framework?

• They keep assets of the PRS fund

• They ensure that the interest of the PRS members are looked after

• They take action on any components of the PRS framework that are errant

• They license the PRS Consultants who have a duty of care to the PRS members

Under the standards of professional conduct, the PRS Consultants would need to comply with which of the following?

• CMSA 2007

• The PRS Deed

• Guidelines on PRS

• Capital Markets and Services (PRS Industry) Regulations 2012

What are some of the duties of PPA?

• Keep a record of all monies received

• Collect the tax penalty for pre-retirement withdrawals

• Keep a record of all PRS transactions

• Promote the awareness of PRS to general public

What are some of the roles of Security Commission in the PRS framework?

• Being the regulator

• Create regulation and guidelines

• Data maintenance

• Approve PRS provider and scheme trustee

What are the selection criteria to consider when approving a PRS Provider?

• Experience in the pension industry

• Track record in the fund management industry

• Strong working relationship with the Scheme Trustee

• Administrative capabilities to handle large volume of transaction

The Investment Committee and the Audit Committee share the _____________ function of a PRS Provider.

• Custody

• Oversight

• Compliance

• Administrative