40 Questions
What is the edition number of the Qatar Financial Centre Rules and Regulations workbook?
6
From when will this workbook cover exams?
1 April 2020
Who is the author of the Qatar Financial Centre Rules and Regulations workbook?
Dr Natalie Schoon
What is the fax number of the Chartered Institute for Securities & Investment?
+44 20 7645 0601
Where can the syllabus be viewed?
On cisi.org
What is the address of the Chartered Institute for Securities & Investment?
20 Fenchurch Street
Who is the reviewer of the Qatar Financial Centre Rules and Regulations workbook?
Stephen Cemm
What is the telephone number of the Chartered Institute for Securities & Investment?
+44 20 7645 0600
What is the Chartered Institute for Securities & Investment committed to enhancing?
Knowledge, skills and integrity
What is the purpose of CISI examinations in firms?
To meet the requirements of government regulators
How many examinations are taken each year?
Around 50,000
What is compulsory for candidates to use when preparing for CISI examinations?
CISI workbooks
What is CISI TV?
An online resource for CISI members
What is the benefit of being a student member of CISI?
Use of CISI online resources without additional charge
How many members does CISI have?
More than 40,000
What percentage of CISI members have completed relevant qualifications and transferred to a core membership grade?
Nearly half
What can a general partner, or the general partners, decide to do regarding the limited partnership?
Not break up the partnership upon the death of a partner
What is a consequence of a limited partner becoming involved in the management of the business affairs partnership against the rules?
They will be personally liable for any obligation incurred
What is NOT a right of a limited partner?
Dissolving the partnership by notice
What can a limited partner do in relation to the general partner or the general partners?
Consult or advise on the activities of the limited partnership
What can lead to a potential conflict of interest between a limited partner and a general partner?
Involvement in the management of the business affairs partnership
What is a situation in which a limited partner may be personally liable for partnership obligations?
When they are involved in the management of the business affairs partnership
What is NOT a situation in which a limited partner may be involved?
Making decisions on behalf of the general partners
What can a limited partner do in relation to the partnership accounts?
Approve the accounts of the limited partnership
What type of injury is excluded from contracts relating to industrial injury and occupational disease?
Injury resulting from a natural disaster
What type of insurance provides fixed pecuniary benefits or benefits in the nature of indemnity?
Insurance against risks of loss to the person insured
Which category of insurance excludes railway rolling stock?
Land vehicles
What type of insurance is contracted against loss of or damage to vessels used on the sea or on inland water?
Ships
What is the category of insurance that includes contracts relating to industrial injury and occupational disease?
Accident
What type of insurance is contracted against loss of or damage to aircraft or machinery?
Aircraft
What is the category of insurance that excludes contracts falling within long-term insurance Category 4?
All of the above
What type of insurance is contracted against loss of or damage to vehicles used on land?
Land vehicles
What is the primary duty of a trustee in a trust?
To act in good faith, in accordance with the purposes of the trust and consistent with its fiduciary duties
What is a requirement for the terms of a trust?
The purpose of the trust must be lawful and not contrary to public policy
What power does the QFC Court have in relation to a trust?
The power to give directions to a trustee or modify or terminate a trust
What is the effect of an exculpatory term in a trust?
It relieves the trustee from liability for certain acts that could otherwise be considered a breach of duties
What is a trust created by?
A settlor
What is a valid purpose of a trust?
For the benefit of a beneficiary or a valid purpose
What is the role of the trustee in a trust?
To exercise duties and powers in accordance with the governing law of the trust and the terms of the trust
What is the power of the QFC Court in relation to a trustee's compensation?
To adjust the compensation when it is unreasonably low or high
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).
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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