1.
Which of the following is considered as a defined benefit plan?
2.
What percentage of employees provident fund (EPF) assets can be invested overseas?
3.
If an annuity is cancelled by the annuitant, which of the following describes the equivalent of the amount received by the annuitant:
A.
B.
Contribution made to date less administrative and other charges
C.
Contribution made to date less administrative charges
D.
All contribution made to date regardless of charges
4.
To address the problem of savers wholly reliant on their EPF savings as the sole basis of retirement income, which of following is the most appropriate solution?
A.
Increase the number of working hours that employees work so that they get paid more and save more
B.
Increase the mandatory contribution rate
C.
Raise the mandatory retirement age
D.
5.
For EPF, at what age can a Member (male) withdraw all his contributions from the fund?
6.
What does IRB stand for?
7.
The Private Pension Administrator must act at all times in the interest of:
8.
Who is responsible for maintaining the members' database of information
A.
B.
C.
Private Pension Administrator
D.
9.
The PPA is able to charge fees for the following purposes except:
A.
Managing members PRS funds
B.
C.
Facilitating transactions of PRS members account
D.
Maintaining members PPA account
10.
The following are the duties of the Private Pension Administrator (PPA) except:
A.
Appointing the Trustee for PRS scheme
B.
Undertake promotion and awareness of PRS
C.
Act as a resource centre for data and research for PRS Industry
D.
Monitor fees charged and performance offered by PRS providers
11.
To qualify as a PRS Provider one must:i) Be an existing financial intermediaryii) Have relevant experience in operating and administering retail or pension funds or life insurance businessiii) Meet the minimum paid-up capital of RM 20 millioniv) Have good corporate governance
12.
The board of directors of a PRS Provider must comprise of at least how many independent members:
13.
Who does the PRS Provider need to interface with to accommodate the members investment requests:
A.
B.
C.
Private Pension Administrator
D.
14.
Cooling off right must be given to a member who contributes to a PRS for:
15.
Soft commissions are goods and services provided by:
A.
B.
C.
D.
Private Pension Administrator
16.
PRS contributions are invested in the following asset classes except:
17.
The _________________helps investors make informed decisions by providing all relevant and accurate information that is material in understanding the management and operations of the funds in the Scheme, Potential members will receive a copy of this document upon requesting to subscribe to PRS.
18.
PRS is defined as a:
19.
The Securities Commission (SC) approves the following entities except:
A.
Private Pension Administrator (PPA)
B.
C.
D.
20.
A PRS will consist of a range of funds which are called _____________, and____________ funds
21.
Which of the following statement is INCORRECT with regards to the default option in the PRS scheme?
A.
They are for members who select their PRS providers but do not specify a fund option
B.
They follow the investment maxim that a younger member is able to take more risks given the longer time horizon
C.
The default option for a potential PRS member who is 35 years old is the Moderate fund
D.
The PRS provider will notify the member one month in advance in writing about witching the member's investments into a more conservative cre fund, when the member move towards an older age bracket
22.
Why does the PRS scheme offer default options?
A.
To make sure members contribution can be channeled into the best funds offered by PRS provider
B.
To ensure that members who select PRS provider but does not specify any specific fund, can channel their contribution into a fund which is appropriate for their age.
C.
To ensure members can have access to the funds with the highest risk tolerance, and returns
D.
To ensure members contribution are channeled into funds with the longest time horizons
23.
Which of the following describes the concept of a Trust Deed for PRS scheme?i. A PRS is a retirement scheme governed by a trust as specified under the CMSA frameworkii. The trustee is elected to hold the assets of members and they are separate from the PRS providers assetsiii. A trustee for PRS does not need to be approved by regulators (SC)iv. In event of a PRS provider faces financial difficulties the PRS members assets held in trust may still be subjected to claim by creditors.
24.
Calculate the average total return for Fund B based on the following:- NAV (1 Jan 2014) = RM1.05- NAV (31 Dec 2014) = RM1.25- Dividends paid = RM0.15
25.
Investments limit for investments in real estate cannot exceed
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