Understanding Trust and KYC Requirements
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Questions and Answers

What is the purpose to create a trust?

  • The trustor must transfer legal ownership of the trust assets to the trustee.
  • The trustor must have the clear intention to create a trust. (correct)
  • The trustor must designate a trustee to manage the trust assets and carry out the trustor's wishes.
  • The trustor must identify the beneficiaries who will receive the benefits of the trust.

    • Which exchange is known as SGX?

  • The Singapore Exchange for Singapore (correct)
  • New York Stock Exchange for United States of America
  • Nasdaq for US
  • London Stock Exchange for United Kingdom

    • What is the major document required for fund identification?

  • Transfer of assets document
  • Beneficiary identification form
  • Trust Deed (correct)
  • Designation of trustee form

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