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1. What does the liquidity coverage ratio (LCR) require banks to hold under Basel III?
- sufficient high quality liquid asses to cover total cash outflows over 30 days
- sufficient high quality liquid asses to cover total cash outflows over 60 days
- enough illiquid asses to cover total cash outflows over 30 days
- sufficient high quality liquid asses to cover total cash outflows over 90 days
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2. What is ESMA's mission?
- enhance the protection of investors and build a single rule book for EU financial markets ("watch dog")
- enhance the protection of investors and build a single rule book for UK financial markets
- Regulate market abuse
3. Who does the APPROVED PERSON'S REGIME apply to?
- An individual who is approved to do one or more activities or "controlled functions" for an authorized firm
- Material risk takers (staff who are subject to dual-regulated firms remuneration code and pose sig risk of harm)
- Most senior individuals
- All staff
4. Under FCA rules, what is the purpose of CASS?
- How assets (including cash & securities) that belong to clients must be managed by segregating them from the asset's of the firm.
- To ensure senior managers are responsible for segregating client's assets
- To ensure firms always act fairly, honestly and professionally
- To ensure senior managers and directors are responsible for their firm's arrangements (eg effective risk management systems).
5. Under MiFID II "post-trade transparency" reporting, where does PUBLICATION REPORTING need to be performed?
- APA (approved publication arrangement)
- ARM (approved reporting mechanism)
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