
CMFAS RES 5 (Set 1)
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4 Sep 2025
CMFAS RES 5 Exam Question
Under the Financial Advisers Regulations (FAR), unsecured credit facility does NOT include:
a) any loan made without security.
b) any credit facility made with security that does not exceed the market value of the assets constituting that security.
c) any performance bond entered into by the licensed financial adviser in connection with any credit facility made by another party to its representatives.
d) the provision of any security by the licensed financial adviser in connection with any credit facility made by another party to its representatives.

CMFAS RES 12B (Set 2)
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4 Sep 2025
CMFAS RES 12B Exam Question
A dealer receives a client’s order to purchase a derivative product. However, the dealer is aware that the market conditions suggest the price may decline shortly after the trade is executed. Which of the following actions is considered a violation?
a) The dealer executes the trade immediately, but informs the client of the risks and potential market changes.
b) The dealer proceeds with the trade immediately, without informing the client about the anticipated market movement, to meet the client’s request.
c) The dealer delays the execution of the order to seek a better price, keeping the client informed about the reasoning behind the delay.
d) The dealer advises the client to reconsider the trade based on anticipated market conditions, but proceeds with the order if the client insists.

CMFAS RES 4 (Set 2)
SGD 39.90
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4 Sep 2025
CMFAS RES 4 Exam Question
The offeree board must make a public announcement of a takeover offer under all the following situations except where:
a) it receives notification of a firm intention of offer from a serious source but does not view the offer favourably.
b) the offeree company is the subject of rumour or speculation about a possible offer.
c) negotiations between the offeror and the offeree company include only a restricted number of people.
d) the board of a company is aware that there are negotiations between a potential offeror and the holders of shares carrying 30% or more of the voting rights of a company.