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質問 # 55
What is the maximum term of imprisonment that can be imposed on a person who attempts to commit the crime of money laundering?
- A. Five years
- B. Seven years
- C. Ten years
- D. Three years
正解：A
解説：
Under Federal Law No. 20 of 2018 and relevant CISI UAE Financial Rules and Regulations, the maximum term of imprisonment for a person who attempts to commit the crime of money laundering is five years. The law imposes stringent penalties to deter money laundering activities and ensure the integrity of the UAE's financial system. In addition to imprisonment, offenders may also face fines and asset confiscation. This punitive framework is designed to align with international AML standards, emphasizing the seriousness with which the UAE treats attempts to launder money, whether successful or not.
Reference: CISI UAE Financial Rules and Regulations - AML Criminal Sanctions, Section 8.4.3 (2023).
質問 # 56
The last trading day for an India Gold Quanto Futures contract is:
- A. one business day prior to the last business day of the delivery month
- B. the 25th calendar day of the delivery month
- C. four business days prior to the 25th calendar day of the delivery month
- D. two business days prior to the last business day of the delivery month
正解：D
解説：
For India Gold Quanto Futures contracts, the last trading day is defined as two business days prior to the last business day of the delivery month. This rule ensures that there is adequate time for the settlement and adjustment of any open positions before the final day of trading. The two-day buffer also allows for the reconciliation of positions, making the futures market more efficient and reducing the likelihood of disputes regarding settlement. This is in line with global standards for futures contracts where the settlement and final trading days are clearly defined to protect market integrity and investor interests.
Reference: CISI UAE Financial Rules and Regulations - Futures Contract Trading, Section 8.2.4 (2023).
質問 # 57
The contract size for trading in Silver Futures on the Dubai Gold & Commodities Exchange is 1,000 troy ounces of refined silver, plus or minus what prescribed margin?
- A. 10%
- B. 5%
- C. 1%
- D. 2%
正解：B
解説：
For Silver Futures contracts on the Dubai Gold & Commodities Exchange (DGEX), the contract size is 1,000 troy ounces of refined silver, with a prescribed margin of 5%. The margin requirement ensures that traders have sufficient collateral to cover potential price fluctuations in the market. The 5% margin provides a balance between allowing for liquidity in the market and managing the risks associated with futures trading.
This is a standard margin level designed to protect both market participants and the exchange from extreme volatility or defaults.
Reference: CISI UAE Financial Rules and Regulations - Silver Futures Trading on DGEX, Section 7.1.3 (2023).
質問 # 58
In order to be authorised to deal in investments, which of the following professional roles would the Authority expect to see within the firm?
- A. Trading Manager
- B. Broker Representative
- C. Operations Manager
- D. Compliance Officer
正解：B
解説：
The Authority expects licensed firms authorised to deal in investments to include a Broker Representative within their professional staff. The Broker Representative is the role licensed and trained to execute investment transactions on behalf of clients, adhering to regulatory standards. While other roles like Trading Manager, Compliance Officer, and Operations Manager are vital for the firm's overall functioning and compliance, the Broker Representative is specifically required for dealing activities, ensuring qualified and responsible conduct in investment execution.
Reference: CISI UAE Financial Rules and Regulations - Licensing and Job Roles for Investment Dealing, Section 3.1.9 (2023).
質問 # 59
To qualify as a big block deal on the ADX's E-Trading system, the securities to be traded must be a minimum of what proportion of the issuer's capital?
- A. 2.5%
- B. 2.0%
- C. 0.5%
- D. 1.0%
正解：D
解説：
A big block deal on the ADX's E-Trading system must involve securities that are at least 1.0% of the issuer's capital. This threshold ensures that large transactions, which could significantly affect the stock's market price, are categorized appropriately as big block deals. The rule helps to distinguish between regular trades and larger institutional trades, which often have different liquidity and market impact considerations. This also provides transparency for market participants regarding the size and nature of the transaction.
Reference: CISI UAE Financial Rules and Regulations - Big Block Deal Requirements on ADX, Section
6.1.2 (2023).
質問 # 60
An obligor with a retail primary listing of Sukuk immediately notified the Authority when one of its board directors was replaced. Why was the obligor considered to be in breach of its continuing obligations?
- A. The obligor failed to give 14 days' notice
- B. The new director held a foreign passport
- C. The new director had less than 5 years' experience
- D. The obligor failed to also notify the market
正解：D
解説：
Under the CISI UAE Financial Rules and Regulations governing Sukuk issuers with retail primary listings, obligors have continuing disclosure obligations designed to ensure transparency and maintain investor confidence. While immediate notification to the Authority is necessary, the obligor must also notify the market to keep all stakeholders informed promptly. Failure to inform the market simultaneously constitutes a breach, as investors rely on timely and complete information to make decisions. This dual-notification requirement is critical to ensure fairness and prevent information asymmetry. The nature of the new director's passport or experience is not the determining factor; rather, it is the procedural omission of market notification that constitutes the breach.
Reference: CISI UAE Financial Rules and Regulations - Continuing Obligations for Sukuk Issuers, Section
5.7.3 (2023).
質問 # 61
Each licence applicant must submit a risk management guide that includes:
- A. development and implementation of policies and procedures
- B. the procedures and mechanisms required to enable the internal auditor to act independently
- C. the mechanisms required to enable the compliance officer to have access to sufficient resources
- D. the procedures and mechanisms that ensure that the responsible officer shall have access to all records
正解：A
解説：
In the UAE regulatory framework, every licence applicant is mandated to provide a comprehensive risk management guide. As per CISI UAE Financial Rules and Regulations, this guide must explicitly address the development and implementation of policies and procedures to identify, assess, monitor, and mitigate risks within the licensed entity. This requirement ensures that firms proactively manage financial, operational, and compliance risks, safeguarding market integrity and client interests. While other governance and compliance mechanisms such as compliance officer resources and internal auditor independence are important, the risk management guide specifically focuses on how the firm establishes and enforces risk-related policies and procedures. This foundational element of risk governance demonstrates the applicant's readiness and capability to operate safely within the UAE financial markets.
Reference: CISI UAE Financial Rules and Regulations - Regulatory Infrastructure, Risk Management Requirements, Section 3.2.7 (2023).
質問 # 62
What is the minimum fine that can be levied on a person found guilty of financing an illegal organisation?
- A. AED 300,000
- B. AED 200,000
- C. AED 250,000
- D. AED 150,000
正解：D
解説：
Under Federal Law No. 20 of 2018 and relevant CISI UAE Financial Rules and Regulations, the minimum fine imposed on a person convicted of financing an illegal organisation is AED 150,000. This penalty underscores the seriousness with which the UAE treats the crime of funding illegal or terrorist entities.
Alongside financial sanctions, convicted individuals may face imprisonment and other legal consequences.
These stringent penalties are part of the UAE's commitment to combating terrorism financing and protecting national and international security.
Reference: CISI UAE Financial Rules and Regulations - AML Criminal Sanctions, Section 8.4.5 (2023).
質問 # 63
If an issuer provides its shareholders with bonus shares, then the CSD Department will deposit the bonus shares issued in the account and will register them as a whole, round number. What happens in the case that there are fractions of shares?
- A. The issuing company must sell them within 30 days
- B. These are also added to the shareholder's account
- C. They are totalled up and put in a suspense account
- D. The issuing company must sell them within 45 days
正解：C
解説：
When bonus shares are issued, the Central Securities Depository (CSD) registers shares in whole numbers only. Any fractions of shares that result from the bonus share calculation cannot be credited to individual shareholder accounts. According to CISI UAE Financial Rules and Regulations, these fractional shares are aggregated and placed into a suspense account by the CSD. The suspense account holds these fractional shares collectively until such time as they can be properly managed, such as by being sold off and the proceeds distributed to shareholders in proportion to their holdings. This process prevents fractional shares from being credited inaccurately, ensuring operational clarity and market integrity. The issuing company is not immediately responsible for selling these fractions, but regulatory oversight governs their eventual disposal.
Reference: CISI UAE Financial Rules and Regulations - Securities Issuance and Registration, Section 5.3.6 (2023).
質問 # 64
The policies of a firm applying for a financial activities licence must include arrangements to provide a copy of its complaints handling procedure to clients:
- A. within 24 hours of accepting the client
- B. on request
- C. within 48 hours of accepting the client
- D. on receipt of a complaint
正解：B
解説：
Under the CISI UAE Financial Rules and Regulations, firms applying for a financial activities licence are required to have formal policies addressing client protection, including clear complaints handling procedures.
Such firms must make these proceduresavailable to clients on request, ensuring transparency and accessibility without imposing undue burden on clients or firms. The regulatory framework does not mandate automatic distribution within fixed timeframes upon client acceptance or complaint receipt but emphasizes accessibility and prompt responsiveness when clients seek the information. This approach balances operational feasibility and client rights to be informed about how their complaints will be managed. Providing the procedure upon request also fosters a trust-based relationship and helps resolve disputes effectively.
Reference:CISI UAE Financial Rules and Regulations - Client Protection and Complaints Handling, Section 4.2.7 (2023).
質問 # 65
Which of the following customer due diligence measures should be taken if a client is a foreign politically exposed person?
- A. Attempt to establish the source of the funds
- B. Examine the latest Interpol watch list
- C. Seek Authority approval to proceed
- D. Conduct a prescribed risk / benefit analysis
正解：A
解説：
For foreign politically exposed persons (PEPs), CISI UAE Financial Rules and Regulations require that firms undertake rigorous customer due diligence, including attempting to establish the source of funds. Establishing the legitimacy and origin of funds is crucial to prevent illicit money laundering and terrorism financing. While risk/benefit analyses and regulatory approvals are important, the direct verification of fund sources is a primary control measure against financial crimes involving PEPs. Checking watchlists like Interpol's is supplementary but not sufficient alone. This requirement safeguards the financial system and aligns with Federal Law No. 20 of 2018's anti-money laundering mandates.
Reference: CISI UAE Financial Rules and Regulations - AML Controls and PEP Risk Management, Section
8.2.9 (2023).
質問 # 66
Following a public subscription, what must a Special Purpose Acquisition Company do with the proceeds?
- A. Deposit not less than 100% of the public subscription proceeds within one business day of receipt
- B. Deposit not less than 90% of the public subscription proceeds within one business day of receipt
- C. Deposit not less than 100% of the public subscription proceeds within two business days of receipt
- D. Deposit not less than 90% of the public subscription proceeds within two business days of receipt
正解：A
解説：
Special Purpose Acquisition Companies (SPACs) operating under UAE financial regulations must safeguard investors' funds post-public subscription. According to the CISI UAE Financial Rules and Regulations, SPACs are required to deposit100% of the public subscription proceeds within one business day of receipt into an escrow or segregated account. This requirement ensures that the funds are secured and managed transparently while awaiting acquisition activities. The strict one-business-day deadline prevents misuse or misallocation of investor money and aligns with international best practices for fund protection. This is critical in maintaining market confidence and regulatory compliance, as SPACs act as investment vehicles with inherent risk related to future mergers or acquisitions.
Reference:CISI UAE Financial Rules and Regulations - Investment Funds and SPAC Requirements, Section 6.3.1 (2023).
質問 # 67
An applicant for a financial activities licence must have procedures in place to recover electronic records from the archive within what maximum period?
- A. Three business days
- B. Four calendar days
- C. Five business days
- D. Two calendar days
正解：A
解説：
According to CISI UAE Financial Rules and Regulations, applicants for a financial activities licence must ensure that their record-keeping systems allow for recovery of electronic records from archives within a maximum period of three business days. This requirement ensures timely access to data necessary for audits, investigations, and regulatory reviews. The three-business-day timeframe balances operational feasibility with regulatory needs for responsiveness and data integrity, supporting transparency and compliance in the UAE financial sector.
Reference: CISI UAE Financial Rules and Regulations - Record-Keeping and Data Recovery Procedures, Section 3.5.10 (2023).
質問 # 68
If a listed company faces accumulated losses of 50% or more of capital, what is required to happen?
- A. It is moved from a second category listing to a first category of listing
- B. It is required to be audited more frequently
- C. Its shares are suspended for at least six months
- D. It is moved from a first category listing to a second category of listing
正解：D
解説：
If a listed company faces accumulated losses of 50% or more of its capital, the company is required to be moved from a first category listing to a second category of listing. This measure is designed to protect investors by ensuring that only financially stable companies remain in the primary listing category, which is subject to stricter regulatory oversight and higher investor expectations. The second category listing provides a lower level of visibility, which reflects the increased financial risks associated with such companies. This helps mitigate the potential impact on other market participants.
Reference: CISI UAE Financial Rules and Regulations - Listing Categories and Financial Health, Section
2.5.1 (2023).
質問 # 69
An error was made by a broker which led to a trade being conducted using the wrong trading account number.
If the trader submitted a request to have the number amended 40 minutes after the end of the trading session, the amendment would only be made if:
- A. the circumstances are considered to be exceptional
- B. an impact assessment gives acceptable results
- C. an alteration fee is paid at the same time
- D. the correction is within a 5% error margin
正解：A
解説：
In trading systems regulated under the CISI UAE Financial Rules and Regulations, brokers must ensure the accuracy of account details associated with transactions. However, if an error occurs, such as using an incorrect trading account number, amendments are generally not allowed beyond the trading session unless specific conditions are met. The CISI rules state that amendments will only be made in exceptional circumstances. For instance, if the request for the amendment is made shortly after the session, such as within
40 minutes, and it can be demonstrated that the error had no significant impact on market stability or the involved parties, it may be considered exceptional. Therefore, a correction request is usually subject to a careful review of its impact, and the circumstances of the error must be deemed significant enough to warrant such an exception.
Reference: CISI UAE Financial Rules and Regulations - Trading Errors and Amendments, Section 8.4.1 (2023).
質問 # 70
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