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6. Under MiFID II "post-trade transparency" reporting, where does TRANSACTION REPORTING need to be performed?
- ARM (approved reporting mechanism)
- APA (approved publication arrangement)
7. What firms is GDPR applied to?
- Those based in the UK and outside UK
- Those based in the UK only
8. What system is built by firms to act as a central repository for client information and conduct KYC procedures?
- Customer Relationship Management (CRM)
- Rational Database
- ARM
- Distributed System
9. What powers does the FSA have in UK markets?
- Business Conduct
- Prudential and business conduct
- Prudential
10. Under MiFID II "post-trade transparency" reporting, where does PUBLICATION REPORTING need to be performed?
- APA (approved publication arrangement)
- ARM (approved reporting mechanism)
11. Banks using their own VaR models in the Advanced Measurement Approach must have a confidence level of what %?
12. Under the Money Luandering Regulations, under what circumstance would a firm employ "ENHANCED DUE DILIGENCE" (EDD) checks?
- Persons who have failed their CDD checks and are politically exposed persons (PEPs)
- Politically exposed persons
- Persons who were not personally present during CDD and "politically exposed persons" (PEPs)
- Persons who have not provided the necessary documents or were not personally present during CDD
13. Under FCA rules, what is the purpose of CASS?
- 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).
- 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
14. What security market does EMIR cover?
- All types of securities across EU
- Derivitives
- Equities
- Bonds
15. 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
16. What is the purpose of the SYSC (Senior Management Arrangements, Systems and Controls)?
- To ensure senior managers are responsible for segregating client's assets
- To ensure senior managers and directors are responsible for their firm's arrangements (eg effective risk management systems).
- Increasing individual accountability
- To ensure firms always act fairly, honestly and professionally
17. What type of institutions would typically used the Basic Indicator Approach?
- smaller, domestic institutions without sophisticated risk management tools
- Larger domestic institutions with sophisticated risk management tools
- Specific lines of the business
- Larger, international institutions.
18. What committee was established by the Bank of England with responsibility for "macro-prudential" regulation and reducing systemic risk?
19. Under Basel II, what is the minimum capital ratio?
- 8%-15%
- 15%
- 4.50%-8%
- 2.50%-4.50%
20. Under Basel III, banks are requited to hold what % of common equity?
