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CISI UAE Financial Rules and Regulations Sample Questions:
1. If the two evaluators for an in-kind share transfer produce different fair value figures, what figure must be used?
A) The average of the two amounts
B) The one produced by the most experienced evaluator
C) The highest one
D) The lowest one
2. What is the minimum fine that can be levied on a person found guilty of financing an illegal organisation?
A) AED 200,000
B) AED 300,000
C) AED 150,000
D) AED 250,000
3. The whistleblowing policy submitted by an applicant for a financial activities licence must include a mechanism for:
A) disciplining staff proven to have breached rules
B) escalating any reports to board level
C) ensuring all staff have a named reporting contact
D) protecting the reporting employee
4. If a discrepancy comes to light when conducting an external reconciliation, what must the firm do?
A) Close the client's account by close of business on the same day
B) Investigate and correct it as soon as possible
C) Immediately inform the regulator verbally and follow this up in writing
D) Immediately suspend operations with the third party
5. Which of the following is an administrative penalty that can be imposed on financial institutions that violate the law and regulations in relation to money laundering and terrorism financing?
A) A penalty of no less than AED 5,000 and no more than AED 1,000,000 for each violation
B) A penalty of no less than AED 50,000 and no more than AED 5,000,000 for each violation
C) A penalty of no less than AED 15,000 and no more than AED 5,000,000 for each violation
D) A penalty of no less than AED 100,000 and no more than AED 10,000,000 for each violation
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: B |






