Exam QCM Flashcards
1) What is the current value of the Luxembourg net assets?
a) Approximately 5,000,000 million EUR
b) Approximately 9,000,000 million EUR
c) Approximately 2,000,000 million EUR
a) Approximately 5,000,000 million EUR
2) Which investment fund industry play is the creator of the fund?
a) The promoter
b) The Management Company
c) The Supervisory Authority
a) The promoter
3) Which player of the Fund industry is mandatory for a FCP, optional for SICAV/F and most of the time
connected to the promoter?
a) The C… stodian (kreien net ganz gelies)
b) The Auditor
c) The Management Company
c) The Management Company
4) Which investment fund industry player calculates the NAV?
a) The Fund Accounting
b) The Transfer Agent
c) The Broker
a) The Fund Accounting
5) Which investment funds industry player collects tax payments?
a) The (N… supervisory) oder Supervisory Authority
b) The Paying Agent
c) The Tax Authority
c) The Tax Authority
6) Which countries recognize the Transfer Agent as a specific function of the investment fund industry?
a) Ireland
b) Switzerland
c) USA
d) France
e) Luxembourg
a) Ireland
e) Luxembourg
7) What is the role of the risk management department with regards in asset servicing (back office)
processes?
a) Review implementation of the applicable regulatory framework
b) A… AML risk associated to each client through a review of the KYC
c) Review processes to identity deficiencies within controls
c) Review processes to identity deficiencies within controls
8) Which team is in charge of maintaining client static data updated within the TA system?
a) Relationship Management
b) Account Operating Maintenance
c) Fund Set-Up
c) Fund Set-Up
9) What are KPI?
a) Key to Performed Innovator
b) Key (Processes?) of Investments
c) Key Performance Indicator
c) Key Performance Indicator
10) What is the ultimate goal of money laundering?
a) Legitimize profits earned from criminal activities.
b) Protect the … of income of a criminal organization.
c) Both
c) Both
11) What should a TA operating agent do if they suspected money laundering case?
a) Process the transaction and then inform the TA management
b) Call the Luxembourgish CRF (Cellule de Renseignement Financier)
c) Inform the TA management
b) Call the Luxembourgish CRF (Cellule de Renseignement Financier)
12) What is the objective of the KYC?
a) Identify the Investor (client)
b) Identify the Distributor
c) Identify the Management Company
a) Identify the Investor (client)
13) Which of the following is impossible?
a) Management fees – 100 EUR and trader fees – 90 EUR
b) Management fees – 30 EUR and trader fees – 50 EUR
c) Management fees – 60 EUR and trader fees – 20 EUR
b) Management fees – 30 EUR and trader fees – 50 EUR
14) How is the NAV per unit calculated?
a) (fund asset – fund liability)
b) (fund asset – fund liability) / Number of units in circulations
c) (Number of units in circulations – fund asset) / fund liability
b) (fund asset – fund liability) / Number of units in circulations
15) What is the biggest risk for asset servicing (back office) agents?
a) Market risk
b) Operational risk
c) (IF?) risk
b) Operational risk
16) Can a TA operating agent accept concept a subscription order received at 18h00 and (record?)
while the cut-off time is set at 18h00?
a) Yes
b) No
a) Yes