Common Ongoing Compliance, Regulatory Issues And Deficiency Relating To Hedge Fund Managers And Fund Managers Test

10 Questions | Total Attempts: 115

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Common Ongoing Compliance, Regulatory Issues And Deficiency Relating To Hedge Fund Managers And Fund Managers Test

Thank you for attending the training online. To be entitled to certificate of completion, please take this assessment test. The test contains 10 questions that you will need to answer 5 questions correctly in order to be entitled to certificate of completion. There will only be 2 attempts of this assessment test and no refund will be made for any failure of the test and certificate of completion will not be issued. Let's take the test!


Questions and Answers
  • 1. 
    For a SFC licensed corporation to give notice of motion to change auditor, what is the time frame to notify SFC?
    • A. 

      Within 1 business day

    • B. 

      Within 5 business days

    • C. 

      Within 14 business days

  • 2. 
    A SFC licensed corporation will need to seek pre-approval for premises to be used for record keeping.
    • A. 

      True

    • B. 

      False

  • 3. 
    An addition of a "substantial shareholder" to a SFC licensed corporation needs SFC pre-approval.
    • A. 

      True

    • B. 

      False

  • 4. 
    For applying a SFC license, SFC will take into account which one of the following factors in assessing an applicant's fitness and properness?
    • A. 

      Martial status

    • B. 

      Nationality

    • C. 

      Political viewpoint

    • D. 

      Financial status or insolvency

  • 5. 
    What is the threshold that triggers the definition of substantial shareholder at the first layer of a SFC licensed corporation?
    • A. 

      5%

    • B. 

      10%

    • C. 

      25%

    • D. 

      50%

  • 6. 
    The SFC will consider an uplift of licensing condition with a detailed updated business plan.
    • A. 

      True

    • B. 

      False

  • 7. 
    The Financial Resources Return (FRR) does not require SFC licensed corporation to disclose proprietary trading position.
    • A. 

      True

    • B. 

      False

  • 8. 
    Which of below is not a duty of a Responsible Officer of a SFC licensed corporation from SFC compliance perspective?
    • A. 

      Make sure the company is profitable

    • B. 

      Supervise the regulated activity of the company

    • C. 

      Ensure compliance of the company

    • D. 

      Hire fit and proper personnel for the company to carry out regulated activity

  • 9. 
    All Responsible Officers have to be appointed as executive directors of a SFC licensed corporation.
    • A. 

      True

    • B. 

      False

  • 10. 
    When should a licensed corporation submit its Financial Resources Return (FRR) at the latest?
    • A. 

      Right on month end day

    • B. 

      7 days after month end

    • C. 

      14 days after month end

    • D. 

      21 days after month end

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