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FMA Flashcards

1
Q

What does FSPR stand for with respect to the FMA?

A

Financial Services Providers Register

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2
Q

What is FSPR?

A

A searchable only register of the people and businesses that offer financial services in New Zealand.

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3
Q

What Act created the Financial Services Providers Register?

A

The Financial Services Registration and Dispute Resolution Act 2008

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4
Q

When was the Financial Services Registration and Dispute Resolution Act 2008 passed?

A

29 September 2008

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5
Q

When did the Financial Service Providers Register open to accept applications?

A

16 August 2010

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6
Q

What is an acronym for financial service provider?

A

FSP

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7
Q

What does the acronym FSP stand for with respect to the FMA?

A

financial service provider

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8
Q

When did the financial services register become compulsory for most FSPs?

A

December 2010

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9
Q

What does AFA stand for with respect to the FMA?

A

Authorised financial advisors

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10
Q

What is the acronym for authorised financial advisor?

A

AFA

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11
Q

What does QFE stand for with respect to the FMA?

A

Qualifying financial entities

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12
Q

What is the acronym for Qualifying financial entities?

A

QFE

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13
Q

What are DIMS providers with respect to the FMA?

A

Discretionary investment management service providers

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14
Q

What does the acronym DIMS stand for with respect to FMA?

A

Discretionary Investment Management Services

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15
Q

What is the acronym for Discretionary investment management service?

A

DIMS

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16
Q

When are you providing Discretionary Investment Management Services
(DIMS)?

A

When an investor gives you authority to make decisions about buying or selling financial products on their behalf.

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17
Q

When an investor gives you authority to make decisions about buying or selling financial products on their behalf, what are you required to have under the FMC Act (FMA)?

A

A license

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18
Q

What does the FMC Act refer to?

A

The Financial Markets Conduct Act 2013.

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19
Q

What do you need under the FMC Act to provide Discretionary Investment Management Services (DMC)?

A

A license

20
Q

What was the Securities Commission?

A

An independent Crown Entity of the government of the government of New Zealand.

21
Q

What was the role of the Securities Commission?

A

Main regulator of investments

22
Q

What was the Securities Commission replaced by?

A

The FMA?

23
Q

When did the FMA replace the Securities Commission?

A

On 1 May 2011

24
Q

When was the FMA established?

A

1 May 2011

25
Q

What Bill established the FMA?

A

The Financial Markets Regulation and KiwiSaver Bill

26
Q

When was the Financial Markets Regulation and KiwiSaver Bill passed?

A

7 April 2011

27
Q

What act established the FMA?

A

The Financial Markets Authority Act 2011

28
Q

What did the Financial Markets Authority Act 2011 establish the FMA as?

A

An independent crown entity.

29
Q

Other than establishing the FMA, what did the Financial Markets Authority Act 2011 do?

A

Set out its functions

30
Q

The key _________ obligation of the FMA is to provide and facilitate development of fair, efficient and transparent financial markets .

A

statutory

31
Q

The key statutory __________ of the FMA is to provide and facilitate development of fair, efficient and transparent financial markets .

A

obligation

32
Q

The key statutory obligation of the FMA is to _________ and facilitate development of fair, efficient and transparent financial markets .

A

Provide

33
Q

The key statutory obligation of the FMA is to provide and _______ development of fair, efficient and transparent financial markets .

A

facilitate

34
Q

The key statutory obligation of the FMA is to provide and facilitate ________ of fair, efficient and transparent financial markets .

A

development

35
Q

The key statutory obligation of the FMA is to provide and facilitate development of ____, efficient and transparent financial markets .

A

fair

36
Q

The key statutory obligation of the FMA is to provide and facilitate development of fair, _______ and transparent financial markets .

A

efficient

37
Q

The key statutory obligation of the FMA is to provide and facilitate development of fair, efficient and _________ financial markets .

A

transparent

38
Q

The key statutory obligation of the FMA is to provide and facilitate development of fair, efficient and transparent _____________ .

A

Financial markets

39
Q

What is the Key statutory obligation of the FMA?

A

The key statutory obligation of the FMA is to provide and facilitate development of fair, efficient and transparent financial markets.

40
Q

But Sum of Gross Revenue (Excel Pivot Tables) isn’t a very friendly name so let’s say I want to change that to Total Revenue instead. All you need to do is select that header label and go up in the _________ bar and just type in the new name right there and it just changes the column header to whatever I choose.

A

Formula

41
Q

But sum of Gross Revenue (Excel Pivot Tables) isn’t a very friendly name so let’s say I want to change that to Total Revenue instead. All you need to do is select that header label and go up in the formula bar and just type in the new name right there and it just changes the ______ header to whatever I choose.

A

Column

42
Q

that to Total Revenue instead. All you need to do is select that header label and go up in the formula bar and just type in the new name right there and it just changes the column header to whatever I choose. The one thing I will point out here is that if I wanted to name this Gross Revenue which is the name of the raw data column, I’m going to get this ______ that says the Pivot Table name already exists, so a little work around here. If I just add a space at the end, Excel will treat that as totally separate value and allow me to drop that in. So a little tip there. Sometimes you want to use more intuitive or more friendly names for a column. That how you do it

A

Error

43
Q

But Sum of Gross Revenue (Excel Pivot Tables) isn’t a very friendly name so let’s say I want to change that to Total Revenue instead. All you need to do is select that header label and go up in the formula bar and just type in the new name right there and it just changes the column header to whatever I choose. The one thing I will point out here is that if I wanted to name this Gross Revenue which is the name of the raw data column, I’m going to get this error that says the Pivot Table name already _________, so a little work around here. If I just add a space at the end, Excel will treat that as totally separate value and allow me to drop that in. So a little tip there. Sometimes you want to use more intuitive or more friendly names for a column. That how you do it.

A

exists

44
Q

But Sum of Gross Revenue (Excel Pivot Tables) isn’t a very friendly name so let’s say I want to change that to Total Revenue instead. All you need to do is select that header label and go up in the formula bar and just type in the new name right there and it just changes the column header to whatever I choose. The one thing I will point out here is that if I wanted to name this Gross Revenue which is the name of the raw data column, I’m going to get this error that says the Pivot Table name already exists, so a little work around here. If I just add a __________ at the end, Excel will treat that as totally separate value and allow me to drop that in. So a little tip there. Sometimes you want to use more intuitive or more friendly names for a column. That how you do it.

A

space

45
Q

But Sum of Gross Revenue (Excel Pivot Tables) isn’t a very friendly name so let’s say I want to change that to Total Revenue instead. All you need to do is select that header label and go up in the formula bar and just type in the new name right there and it just changes the column header to whatever I choose. The one thing I will point out here is that if I wanted to name this Gross Revenue which is the name of the raw data column, I’m going to get this error that says the Pivot Table name already exists, so a little work around here. If I just add a space at the end, Excel will treat that as a______________ and allow me to drop that in. So a little tip there. Sometimes you want to use more intuitive or more friendly names for a column. That how you do it.

A

totally separate value

46
Q

But Sum of Gross Revenue (Excel Pivot Tables) isn’t a very friendly name so let’s say I want to change that to Total Revenue instead. All you need to do is select that header label and go up in the formula bar and just type in the new name right there and it just changes the column header to whatever I choose. The one thing I will point out here is that if I wanted to name this Gross Revenue which is the name of the raw data column, I’m going to get this error that says the Pivot Table name already exists, so a little work around here. If I just add a space at the end, Excel will treat that as a totally separate value and allow me to drop that in. So a little tip there. Sometimes you want to use more intuitive or more friendly names for a _________. That how you do it.

A

column

47
Q

On 1st of August 2017, A Code Working Group (FMA) was established for what purpose?

A

To develop the new Code of Conduct for financial advice.

AML (10 decks)

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