WorksheetsMiFID II - Conduct of Business
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
For how long must a firm keep a record of all transactions in financial instruments carried out, on their own account or on behalf of clients?
a)
5 days
b)
2 years
c)
5 years
d)
7 years
2.
Firms are NOT required to record phone conversations which relate to....
a)
reception and transmission of orders
b)
dealing on own account
c)
execution of orders on behalf of clients
d)
portfolio management
3.
How often must a firm issue a report to clients in respect of portfolio management and holdings?
a)
Monthly
b)
Quarterly
c)
Bi monthly
d)
Annually
4.
Which of the following are not considered a professional client under MiFID II.
a)
Insurance Company
b)
Collective Investment Scheme
c)
Commodity Derivatives Dealer
d)
Credit Union
5.
What client type receives the highest level of investor protection?
a)
Retail
b)
Per se professional
c)
Opt-up professional
d)
Eligible Counterparties
6.
John refuses to provide information on his wealth. What services can Nice Guy DAC provide to John?
a)
None
b)
Portfolio Management and Investment Advice only
c)
Execution Only
d)
Execution after providing a written warning
7.
With whom is the CBI obliged to consult prior to using its product intervention powers?
a)
Department of Finance
b)
EBA
c)
ESMA
d)
European Commission
8.
True or false: a firm can be both a product manufacturer and a product distributor?
a)
True
b)
False
9.
Firms must summarise and publish annually their top [_] execution venues by trading volume for each class of financial instrument...
a)
5
b)
7
c)
10
d)
15
10.
MiFID II introduces a new requirement that firms must, _________ the relevant transaction, provide retail clients receiving an advisory service with a suitability report.
a)
Before
b)
After
100 %
