Qatar Financial Centre Rules and Regulations Exam
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Questions and Answers

What is the edition number of the Qatar Financial Centre Rules and Regulations workbook?

  • 5
  • 7
  • 6 (correct)
  • 8

    • From when will this workbook cover exams?

  • 1 January 2020
  • 1 May 2020
  • 1 June 2020
  • 1 April 2020 (correct)

    • Who is the author of the Qatar Financial Centre Rules and Regulations workbook?

  • Jane Doe
  • John Smith
  • Dr Natalie Schoon (correct)
  • Stephen Cemm

    • What is the fax number of the Chartered Institute for Securities & Investment?

    <p>+44 20 7645 0601</p> Signup and view all the answers

    Where can the syllabus be viewed?

    <p>On cisi.org</p> Signup and view all the answers

    What is the address of the Chartered Institute for Securities & Investment?

    <p>20 Fenchurch Street</p> Signup and view all the answers

    Who is the reviewer of the Qatar Financial Centre Rules and Regulations workbook?

    <p>Stephen Cemm</p> Signup and view all the answers

    What is the telephone number of the Chartered Institute for Securities & Investment?

    <p>+44 20 7645 0600</p> Signup and view all the answers

    What is the Chartered Institute for Securities & Investment committed to enhancing?

    <p>Knowledge, skills and integrity</p> Signup and view all the answers

    What is the purpose of CISI examinations in firms?

    <p>To meet the requirements of government regulators</p> Signup and view all the answers

    How many examinations are taken each year?

    <p>Around 50,000</p> Signup and view all the answers

    What is compulsory for candidates to use when preparing for CISI examinations?

    <p>CISI workbooks</p> Signup and view all the answers

    What is CISI TV?

    <p>An online resource for CISI members</p> Signup and view all the answers

    What is the benefit of being a student member of CISI?

    <p>Use of CISI online resources without additional charge</p> Signup and view all the answers

    How many members does CISI have?

    <p>More than 40,000</p> Signup and view all the answers

    What percentage of CISI members have completed relevant qualifications and transferred to a core membership grade?

    <p>Nearly half</p> Signup and view all the answers

    What can a general partner, or the general partners, decide to do regarding the limited partnership?

    <p>Not break up the partnership upon the death of a partner</p> Signup and view all the answers

    What is a consequence of a limited partner becoming involved in the management of the business affairs partnership against the rules?

    <p>They will be personally liable for any obligation incurred</p> Signup and view all the answers

    What is NOT a right of a limited partner?

    <p>Dissolving the partnership by notice</p> Signup and view all the answers

    What can a limited partner do in relation to the general partner or the general partners?

    <p>Consult or advise on the activities of the limited partnership</p> Signup and view all the answers

    What can lead to a potential conflict of interest between a limited partner and a general partner?

    <p>Involvement in the management of the business affairs partnership</p> Signup and view all the answers

    What is a situation in which a limited partner may be personally liable for partnership obligations?

    <p>When they are involved in the management of the business affairs partnership</p> Signup and view all the answers

    What is NOT a situation in which a limited partner may be involved?

    <p>Making decisions on behalf of the general partners</p> Signup and view all the answers

    What can a limited partner do in relation to the partnership accounts?

    <p>Approve the accounts of the limited partnership</p> Signup and view all the answers

    What type of injury is excluded from contracts relating to industrial injury and occupational disease?

    <p>Injury resulting from a natural disaster</p> Signup and view all the answers

    What type of insurance provides fixed pecuniary benefits or benefits in the nature of indemnity?

    <p>Insurance against risks of loss to the person insured</p> Signup and view all the answers

    Which category of insurance excludes railway rolling stock?

    <p>Land vehicles</p> Signup and view all the answers

    What type of insurance is contracted against loss of or damage to vessels used on the sea or on inland water?

    <p>Ships</p> Signup and view all the answers

    What is the category of insurance that includes contracts relating to industrial injury and occupational disease?

    <p>Accident</p> Signup and view all the answers

    What type of insurance is contracted against loss of or damage to aircraft or machinery?

    <p>Aircraft</p> Signup and view all the answers

    What is the category of insurance that excludes contracts falling within long-term insurance Category 4?

    <p>All of the above</p> Signup and view all the answers

    What type of insurance is contracted against loss of or damage to vehicles used on land?

    <p>Land vehicles</p> Signup and view all the answers

    What is the primary duty of a trustee in a trust?

    <p>To act in good faith, in accordance with the purposes of the trust and consistent with its fiduciary duties</p> Signup and view all the answers

    What is a requirement for the terms of a trust?

    <p>The purpose of the trust must be lawful and not contrary to public policy</p> Signup and view all the answers

    What power does the QFC Court have in relation to a trust?

    <p>The power to give directions to a trustee or modify or terminate a trust</p> Signup and view all the answers

    What is the effect of an exculpatory term in a trust?

    <p>It relieves the trustee from liability for certain acts that could otherwise be considered a breach of duties</p> Signup and view all the answers

    What is a trust created by?

    <p>A settlor</p> Signup and view all the answers

    What is a valid purpose of a trust?

    <p>For the benefit of a beneficiary or a valid purpose</p> Signup and view all the answers

    What is the role of the trustee in a trust?

    <p>To exercise duties and powers in accordance with the governing law of the trust and the terms of the trust</p> Signup and view all the answers

    What is the power of the QFC Court in relation to a trustee's compensation?

    <p>To adjust the compensation when it is unreasonably low or high</p> Signup and view all the answers

    Study Notes

    Qatar Financial Centre Rules and Regulations

    • This workbook is for the Chartered Institute for Securities & Investment's Qatar Financial Centre Rules and Regulations examination, published in February 2020, and covers exams from 1 April 2020.

    CISI and its Qualifications

    • The Chartered Institute for Securities & Investment is a professional body for those who work in the investment sector, enhancing knowledge, skills, and integrity.
    • CISI examinations are used by firms to meet government regulators' requirements, and are recognized by governments and regulators worldwide.
    • Around 50,000 CISI examinations are taken each year, and it is compulsory to use CISI workbooks to prepare for the examinations.

    Categories of Insurance

    • Category 1: Accident, including contracts relating to industrial injury and occupational disease, but excluding contracts falling within long-term insurance Category 4.
    • Category 2: Sickness, providing fixed pecuniary benefits or benefits in the nature of indemnity against risks of loss to the persons insured attributable to sickness or infirmity.
    • Category 3: Land vehicles, including motor vehicles but excluding railway rolling stock.
    • Category 4: Railway rolling stock.
    • Category 5: Aircraft, including machinery, tackle, furniture, or equipment of aircraft.
    • Category 6: Ships, including machinery, tackle, furniture, or equipment of vessels.

    Companies, Partnerships and Trusts

    • Limited partnerships can be ended by a general partner, but not by a limited partner.
    • A limited partner has no right to dissolve a limited partnership by notice.
    • A limited partner who becomes involved in the management of the business affairs partnership will personally be liable for any obligation incurred.
    • The QFC has rules in place that regulate the following:
      • A trustee's duties and fiduciary duties
      • The terms of a trust and its purposes
      • The QFC Court's powers to give directions, modify or terminate a trust
      • The effect of a protective trust and exculpatory term
      • The rights of a person other than a trustee or beneficiary
      • The periods of limitation for commencing a judicial proceeding
      • The powers of the QFC Court in relation to trust

    Creation of a Trust

    • A trust is a legally binding relationship created by a settlor.
    • The trustee exercises duties and powers in accordance with the governing law of the trust and the terms of the trust for the benefit of a beneficiary or a valid purpose.
    • The trust property is held in the name of the trustee (or another person on behalf of the trustee).

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    Related Documents

    Qatar Financial Centre Rules and Regulations PDF 2020

    Description

    Study material for the Chartered Institute for Securities & Investment's Qatar Financial Centre Rules and Regulations examination, covering syllabus version 6 and exams from 1 April 2020.

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