WorksheetsFIN263 FSA & IFSA 2013
Total questions: 10
Worksheet time: 50mins
The enforcement of Central Bank of Malaysia Act in Year
1985
1986
2009
2008
Below are institutions follow Financial Services Act 2013 EXCEPT
commercial banks, investment banks, insurers (collectively known as "licensed persons");
operator of designated payment systems
Islamic bank, takaful operators, operator of payment systems
IFSA 2013 replaced acts of ....
Islamic Banking Act 1983 and Takaful Act 1984
Sukuk Act 2012 and Takaful Act 1984
Takaful Act 1984 and Insurance Act
Below are acts that have been repealed by FSA 2013 EXCEPT
Insurance Act 1996 [Act 553]
·Banking and Financial Institutions Act 1989 [Act 372]
·Payment Systems Act 2003 [Act 627]
Sukuk Act 2012
Under Section 133 and 134 of FSA 2013, no person shall disclose any document or information relating to the affairs of the customer and financial institution EXCEPT when
The customer run away
The customer declared bankrupt
The customer lie to bank
The customer did not sign the secrecy form
According to IFSA 2013, the purpose of the establishment of the Shariah Committee is to advise the licensed person and ensure that all operations comply with the Shariah rules.
True
False
According to Section 2 of FSA 2013, a depositor is defined as a person entitled to the repayment of a deposit, but the deposit must be made by him/herself.
True
False
Below are the definitions of banking business under Section 2, EXCEPT
Accepting deposits on savings account, deposit account, current account and other similar accounts.
Purchase of bills of exchange, promissory notes, certificates of deposit, debentures or other negotiable instruments.
A business banking is a type of business that provides services such as accepting deposits, making business loans, and offering basic investment products that are operated as a business for profit.
The acceptance or guarantee or any liability, obligation or duty of any person
Depositor means a sum of money received or paid under which it will be repaid with or without interest or at a premium or discount, either in money or money’s worth.
True
False
Before the FSA 2013 and the IFSA 2013 come into effect, BNM was empowered by these legislative powers EXCEPT
CBA 2009
BAFIA 1989
IBA 1983
Investment Act 1922
