CMFAS Module 2a Free Sample Question

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CMFAS Quizzes & Trivia

Questions and Answers
  • 1. 

    With respect to the computation of Position Limit, which of the following positions are aggregated? All account ___________ I     directly owned by a person or personsII     indirectly owned by a person or personsIII    of any Person or Persons acting in concertIV   In which a person or persons has a proprietary or beneficial interest

    • A. 

      I, II and III

    • B. 

      I, II and IV

    • C. 

      I, III and IV

    • D. 

      I, II, III and IV

    Correct Answer
    D. I, II, III and IV
    Explanation
    Chapter 4 | page 147 (4.9.8) Position Limits & Accumulation of Positions

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  • 2. 

    In the case of a Market-If-Touched (MIT) sell order, the trigger is placed ______ the current market price, resulting in the order selling at a price ______ than the current market price. 

    • A. 

      Above, higher

    • B. 

      Above, lower

    • C. 

      Below, higher

    • D. 

      Below, lower

    Correct Answer
    A. Above, higher
    Explanation
    Chapter 4 | Page 117 (4.3.2.5) Market-If-Touched (MIT) Order

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  • 3. 

    Which of the following may apply through Clearing Member for direct access to SGX QUEST? I    Direct clients of the Clearing MembersII    Market Maker or SGX Corporate MembersIII   Remote SGX Members

    • A. 

      I only

    • B. 

      I and III only

    • C. 

      II and III only

    • D. 

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    Chapter 4 | Page 101 (4.1.1) Connectivity Options to QUEST

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  • 4. 

    A Limit Order specifies the ________ price that a ______  willing to pay for one contract 

    • A. 

      Maximum, buyer

    • B. 

      Maximum, seller

    • C. 

      Minimum, buyer

    • D. 

      Minimum, seller

    Correct Answer
    A. Maximum, buyer
    Explanation
    Chapter 4 | Page 114 (4.3.2.1) Limit Order

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  • 5. 

    Subject to the Securities and Futures Act (“SFA”) for delisting of contracts, the _________may, from time to time and in its absolute discretion, de-list any Futures Contract.

    • A. 

      Singapore Exchange (SGX)

    • B. 

      Singapore Exchange Derivatives Trading (SGX-DT)

    • C. 

      Central Depository Pte limited (CDP)

    • D. 

      MAS and SGX

    Correct Answer
    A. Singapore Exchange (SGX)
    Explanation
    Chapter 4 | Page 142 (4.9.1) MAS Approval / (4.9.2) De-Listing of Contracts

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