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WorksheetsEXAM STUDY GUIDE (CUTE & CPRE)
Total questions: 48
Worksheet time: 48mins
Name
Class
Date
1.
Which of the following statements is true?
a)
(A) Real Estate Investment Trust is a type of unlisted fund.
b)
(B) An investment-linked fund is similar to UTS.
c)
(C) CIS enables investors to pool their money and hand it to a professional fund
management company to invest the money in various assets that meet the investors
investment objectives.
d)
(D) A Management Company must not outsource any of its functions
2.
Who are the participants in CIS ecosystem?
(i) Investors / Unit holders
(ii) Trustee
(iii) Management Company
(iv) Regulator
(v) Dispute Resolution
(vi) Federation of Malaysian Consumers Associations
a)
(A) i, ii, iii, v, vi
b)
(B) i, ii, iii, iv, v
c)
(C) i, ii, iii, iv, vi
d)
(D) All of the above
3.
Investment-linked funds that invest in capital market products must comply with the
SC’s regulations.
a)
True
b)
False
4.
UTS and PRS share the following main characteristics where both of them:
(i) provide diversification of asset;
(ii) have a Trustee to look after the interest of the investors;
(iii) involve pooling of savings by investors where these savings are invested according to the objective of the Schemes; and
(iv) are Schemes that encourage investors to make long-term savings and investment
decisions
a)
(A) (i), (ii) and (iii)
b)
(B) (i), (iii) and (iv)
c)
(C) (ii), (iii) and (iv)
d)
(D) all of the above
5.
What is the most common fund type in Malaysia?
a)
(A) Money Market Fund
b)
(B) Equity Fund
c)
(C) Fixed Income Fund
d)
(D) Index Fund
6.
Consultants must ensure that an investor in a Scheme is given
a)
(A) a guarantee on future earnings of the fund
b)
(B) an explanation of risks involved
c)
(C) gifts upon signing up
d)
(D) the right to cancel their investment at any time
7.
The followings are the duties of the PPA, except
a)
(A) undertake general promotion and awareness of the Scheme
b)
(B) act as a resource centre for data and research for the PRS industry
c)
(C) monitor fees charged and performance offered by the different PRS Providers
d)
(D) appoint the Scheme Trustee for each Scheme
8.
Which of the followings require the approval from the Securities Commission Malaysia?
(i) Scheme Providers
(ii) Schemes
(iii) Consultants
(iv) Trustee
a)
(A) (i), (ii) and (iii)
b)
(B) (i), (ii) and (iv)
c)
C) (ii) only
d)
(D) All of the above
9.
Which of the following legislation, regulations and guidelines are relevant to UTS and PRS?
(i) CMSA
(ii) Guidelines on Advertising Capital Markets Products and Related Services
(iii) Prospectus Guidelines
(iv) Licensing Handbook
a)
(A) (i) and (iv)
b)
(B) (i), (iii) and (iv)
c)
(C) (i), (ii) and (iv)
d)
(D) All of the above
10.
What are the factors that Consultants must consider when rendering investment advice to investors?
(i) Personal circumstances of the investor
(ii) Risk tolerance of the investor
(iii) Market outlook
(iv) Investment recommendation of the Scheme Provider
a)
(A) (i) and (ii) only
b)
(B) (i), (ii) and (iii) only
c)
(C) (i), (ii) and (iv) only
d)
(D) (iii) and (iv) only
11.
What is the main purpose of obtaining information relating to an investor’s investment
objectives during the personal advice process?
a)
(A) To ascertain the investor’s appreciation of the potential returns of the Schemes
b)
(B) To ascertain the investor’s risk profile and needs
c)
(C) To ascertain a suitable Scheme Provider for the investor
d)
(D) To ascertain the investor’s financial planning needs
12.
The followings apply to both UTS and PRS:
(i) Purchase of units
(ii) Sale of units
(iii) Financing purchase of units
(iv) Transfer of units
a)
(A) (i) and (ii) only
b)
(B) (i), (ii) and (iii) only
c)
(C) (i), (ii) and (iv) only
d)
(D) All of the above
13.
Consultants who breach the provisions of the FIMM’s Code of Ethics will face actions,
including
(i) imprisonment
(ii) a public reprimand
(iii) a revocation of registration with the Securities Commission Malaysia
(iv) a suspension of registration with the Federation of Investment Managers Malaysia
a)
(A) (i) and (iii) only
b)
(B) (ii) and (iv) only
c)
(C) (i), (ii) and (iv) only
d)
(D) (ii), (iii) and (iv) only
14.
Each core principle of the FIMM’s Code of Ethics aims to ____________
(i) instill public confidence in the industry
(ii) augment the ethics and conduct requirements set out in the SC’s guidelines
(iii) uphold Consultants’ and Distributors’ ethical standards and professional conduct in marketing and distribution of Schemes
(iv) remind Consultants and Distributors that FIMM can take action against them for misconduct
a)
(A) (i) and (ii) only
b)
(B) (i), (ii) and (iii) only
c)
(C) (i), (iii) and (iv) only
d)
(D) (iii) and (iv) only
15.
The omission of a material fact when dealing with a unit holder or a PRS member is covered under the principle of ____________________
a)
(A) observance of confidentiality
b)
B) professionalism
c)
(C) honesty and integrity
d)
(D) disclosure of information
16.
The followings are some of the steps in financial planning:
(i) Establish client-planner relationship
(ii) Understand client and gather data
(iii) Analyse and evaluate client’s financial status
(iv) Manage cash
a)
(A) (i) and (iii) only
b)
(B) (ii), (iii) and (iv) only
c)
(C) (i), (ii) and (iii) only
d)
(D) All of the above
17.
Which of the following statements is correct?
a)
(A) Both individual Financial Planners and Consultants must register with FIMM
b)
(B) Both Financial Planners and Consultants must be licenced by the SC
c)
(C) Investment planning can be undertaken by Financial Planners only
d)
(D) Consultants must understand their clients’ investment goal and risk appetite.
18.
Consultants cannot introduce themselves as a Financial Planner unless __________
a)
(A) they are licenced by the SC to carry out financial planning activity
b)
(B) they pass the requisite examinations
c)
(C) they work with a CUTA or CPRA
d)
(D) they are registered with FIMM
19.
What is the main role of a Trustee?
a)
(A) Administers the operations of an UTS
b)
(B) Invests monies in authorised investments
c)
(C) Safeguards the assets of the UTS and the investors’ interests
d)
(D) Regulates the operations of an UTMC
20.
Assume the NAV of XYZ Equity Fund is determined as RM78,896,540 and that there
are 96,500,000 units in circulation. Also assume that no transaction cost factor applies
as transaction costs are not material.
What is the selling and repurchase prices of a unit by rounding up the unit prices to
four decimal places?
a)
(A) RM 1.2231
b)
(B) RM 0.8176
c)
(C) RM 0.6112
d)
(D) RM 2.3154
21.
XYZ Equity Fund - Pricing
Date: 17 August 202X & NAV: RM 0.9132
Date: 18 August 202X & NAV: RM 0.9218
Date: 19 August 202X & NAV: RM 0.9311
Date: 20 August 202X & NAV: RM 0.9391
XYZ Equity Fund’s valuation point is at 4pm every business day. Ali wishes to invest
in the fund and submits request on 18th August 202X at 2pm. What is the correct
valuation for Ali’s investment?
a)
(A) RM 0.9132
b)
(B) RM 0.9218
c)
C) RM 0.9311
d)
(D) RM 0.9391
22.
What are some of the cited benefits from the PRS?
(i) Reduce the needs for Malaysians to invest in unit trusts
(ii) Additional source of long-term capital for economic growth
(iii) Improve the living standards of Malaysians at their retirement
(iv) Increase the fiscal burden of the Government to provide a social safety net
a)
(A) (i) and (iv) only
b)
(B) (i) and (iii) only
c)
(C) (ii) and (iii) only
d)
(D) (ii), (iii) and (iv) only
23.
Which of these statements are correct with regard to contributors to the PRS?
(i) Employers can contribute on behalf of employees
(ii) The PRS Providers set the minimum contribution amount
(iii) Members can contribute to only one PRS
(iv) Members can stop contributions any time
a)
(A) (i) and (iv) only
b)
(B) (i), (ii) and (iv) only
c)
(C) (i), (ii) and (iii) only
d)
(D) (ii), (iii) and (iv) only
24.
PRS Provider Delta has three core funds in their PRS. Which of these names can be accepted as names of the core funds?
(i) Delta Growth Fund
(ii) Delta Cash Management Fund
(iii) Delta Moderate Fund
(iv) Delta FBMKLCI Tracker Fund
a)
(A) (i), (ii) and (iii) only
b)
(B) (i) and (iii) only
c)
(C) (ii) and (iii) only
d)
(D) (ii) and (iv) only
25.
Which of the following statements is true?
a)
(A) Real Estate Investment Trust is a type of unlisted fund.
b)
(B) An investment-linked fund is similar to UTS.
c)
(C) CIS enables investors to pool their money and hand it to a professional fund
management company to invest the money in various assets that meet the investors
investment objectives.
d)
(D) A Management Company must not outsource any of its functions
26.
Who are the participants in CIS ecosystem?
(i) Investors / Unit holders
(ii) Trustee
(iii) Management Company
(iv) Regulator
(v) Dispute Resolution
(vi) Federation of Malaysian Consumers Associations
a)
(A) i, ii, iii, v, vi
b)
(B) i, ii, iii, iv, v
c)
(C) i, ii, iii, iv, vi
d)
(D) All of the above
27.
Investment-linked funds that invest in capital market products must comply with the
SC’s regulations.
a)
True
b)
False
28.
UTS and PRS share the following main characteristics where both of them:
(i) provide diversification of asset;
(ii) have a Trustee to look after the interest of the investors;
(iii) involve pooling of savings by investors where these savings are invested according to the objective of the Schemes; and
(iv) are Schemes that encourage investors to make long-term savings and investment
decisions
a)
(A) (i), (ii) and (iii)
b)
(B) (i), (iii) and (iv)
c)
(C) (ii), (iii) and (iv)
d)
(D) all of the above
29.
What is the most common fund type in Malaysia?
a)
(A) Money Market Fund
b)
(B) Equity Fund
c)
(C) Fixed Income Fund
d)
(D) Index Fund
30.
Consultants must ensure that an investor in a Scheme is given
a)
(A) a guarantee on future earnings of the fund
b)
(B) an explanation of risks involved
c)
(C) gifts upon signing up
d)
(D) the right to cancel their investment at any time
31.
The followings are the duties of the PPA, except
a)
(A) undertake general promotion and awareness of the Scheme
b)
(B) act as a resource centre for data and research for the PRS industry
c)
(C) monitor fees charged and performance offered by the different PRS Providers
d)
(D) appoint the Scheme Trustee for each Scheme
32.
Which of the followings require the approval from the Securities Commission Malaysia?
(i) Scheme Providers
(ii) Schemes
(iii) Consultants
(iv) Trustee
a)
(A) (i), (ii) and (iii)
b)
(B) (i), (ii) and (iv)
c)
C) (ii) only
d)
(D) All of the above
33.
Which of the following legislation, regulations and guidelines are relevant to UTS and PRS?
(i) CMSA
(ii) Guidelines on Advertising Capital Markets Products and Related Services
(iii) Prospectus Guidelines
(iv) Licensing Handbook
a)
(A) (i) and (iv)
b)
(B) (i), (iii) and (iv)
c)
(C) (i), (ii) and (iv)
d)
(D) All of the above
34.
What are the factors that Consultants must consider when rendering investment advice to investors?
(i) Personal circumstances of the investor
(ii) Risk tolerance of the investor
(iii) Market outlook
(iv) Investment recommendation of the Scheme Provider
a)
(A) (i) and (ii) only
b)
(B) (i), (ii) and (iii) only
c)
(C) (i), (ii) and (iv) only
d)
(D) (iii) and (iv) only
35.
What is the main purpose of obtaining information relating to an investor’s investment
objectives during the personal advice process?
a)
(A) To ascertain the investor’s appreciation of the potential returns of the Schemes
b)
(B) To ascertain the investor’s risk profile and needs
c)
(C) To ascertain a suitable Scheme Provider for the investor
d)
(D) To ascertain the investor’s financial planning needs
36.
The followings apply to both UTS and PRS:
(i) Purchase of units
(ii) Sale of units
(iii) Financing purchase of units
(iv) Transfer of units
a)
(A) (i) and (ii) only
b)
(B) (i), (ii) and (iii) only
c)
(C) (i), (ii) and (iv) only
d)
(D) All of the above
37.
Consultants who breach the provisions of the FIMM’s Code of Ethics will face actions,
including
(i) imprisonment
(ii) a public reprimand
(iii) a revocation of registration with the Securities Commission Malaysia
(iv) a suspension of registration with the Federation of Investment Managers Malaysia
a)
(A) (i) and (iii) only
b)
(B) (ii) and (iv) only
c)
(C) (i), (ii) and (iv) only
d)
(D) (ii), (iii) and (iv) only
38.
Each core principle of the FIMM’s Code of Ethics aims to ____________
(i) instill public confidence in the industry
(ii) augment the ethics and conduct requirements set out in the SC’s guidelines
(iii) uphold Consultants’ and Distributors’ ethical standards and professional conduct in marketing and distribution of Schemes
(iv) remind Consultants and Distributors that FIMM can take action against them for misconduct
a)
(A) (i) and (ii) only
b)
(B) (i), (ii) and (iii) only
c)
(C) (i), (iii) and (iv) only
d)
(D) (iii) and (iv) only
39.
The omission of a material fact when dealing with a unit holder or a PRS member is covered under the principle of ____________________
a)
(A) observance of confidentiality
b)
B) professionalism
c)
(C) honesty and integrity
d)
(D) disclosure of information
40.
The followings are some of the steps in financial planning:
(i) Establish client-planner relationship
(ii) Understand client and gather data
(iii) Analyse and evaluate client’s financial status
(iv) Manage cash
a)
(A) (i) and (iii) only
b)
(B) (ii), (iii) and (iv) only
c)
(C) (i), (ii) and (iii) only
d)
(D) All of the above
41.
Which of the following statements is correct?
a)
(A) Both individual Financial Planners and Consultants must register with FIMM
b)
(B) Both Financial Planners and Consultants must be licenced by the SC
c)
(C) Investment planning can be undertaken by Financial Planners only
d)
(D) Consultants must understand their clients’ investment goal and risk appetite.
42.
Consultants cannot introduce themselves as a Financial Planner unless __________
a)
(A) they are licenced by the SC to carry out financial planning activity
b)
(B) they pass the requisite examinations
c)
(C) they work with a CUTA or CPRA
d)
(D) they are registered with FIMM
43.
What is the main role of a Trustee?
a)
(A) Administers the operations of an UTS
b)
(B) Invests monies in authorised investments
c)
(C) Safeguards the assets of the UTS and the investors’ interests
d)
(D) Regulates the operations of an UTMC
44.
Assume the NAV of XYZ Equity Fund is determined as RM78,896,540 and that there
are 96,500,000 units in circulation. Also assume that no transaction cost factor applies
as transaction costs are not material.
What is the selling and repurchase prices of a unit by rounding up the unit prices to
four decimal places?
a)
(A) RM 1.2231
b)
(B) RM 0.8176
c)
(C) RM 0.6112
d)
(D) RM 2.3154
45.
XYZ Equity Fund - Pricing
Date: 17 August 202X & NAV: RM 0.9132
Date: 18 August 202X & NAV: RM 0.9218
Date: 19 August 202X & NAV: RM 0.9311
Date: 20 August 202X & NAV: RM 0.9391
XYZ Equity Fund’s valuation point is at 4pm every business day. Ali wishes to invest
in the fund and submits request on 18th August 202X at 2pm. What is the correct
valuation for Ali’s investment?
a)
(A) RM 0.9132
b)
(B) RM 0.9218
c)
C) RM 0.9311
d)
(D) RM 0.9391
46.
What are some of the cited benefits from the PRS?
(i) Reduce the needs for Malaysians to invest in unit trusts
(ii) Additional source of long-term capital for economic growth
(iii) Improve the living standards of Malaysians at their retirement
(iv) Increase the fiscal burden of the Government to provide a social safety net
a)
(A) (i) and (iv) only
b)
(B) (i) and (iii) only
c)
(C) (ii) and (iii) only
d)
(D) (ii), (iii) and (iv) only
47.
Which of these statements are correct with regard to contributors to the PRS?
(i) Employers can contribute on behalf of employees
(ii) The PRS Providers set the minimum contribution amount
(iii) Members can contribute to only one PRS
(iv) Members can stop contributions any time
a)
(A) (i) and (iv) only
b)
(B) (i), (ii) and (iv) only
c)
(C) (i), (ii) and (iii) only
d)
(D) (ii), (iii) and (iv) only
48.
PRS Provider Delta has three core funds in their PRS. Which of these names can be accepted as names of the core funds?
(i) Delta Growth Fund
(ii) Delta Cash Management Fund
(iii) Delta Moderate Fund
(iv) Delta FBMKLCI Tracker Fund
a)
(A) (i), (ii) and (iii) only
b)
(B) (i) and (iii) only
c)
(C) (ii) and (iii) only
d)
(D) (ii) and (iv) only
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