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| Section | Weight | Objectives |
|---|---|---|
| Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations | 14% | - Federal Law No. 20 of 2018 |
| Licensed Bodies | 14% | - General provisions - Requirements of capital market institutions - Licensing financial activities |
| Investment Funds | 11% | - The local fund - Provisions specific to certain public funds |
| Client Protection | 10% | |
| Dubai Financial Market (DFM) | 11% | |
| Markets | 11% | - General background - Disclosure and Transparency |
| The Regulatory Infrastructure | 17% | - License categories and requirements (Decision No. 13/Chairman issued 2021) - SCA Resolutions - Federal Law No. 4 of 2000 - Corporate Governance (Law No. 3 issued Jan 2020) - Accounting system controls (Decision No. 13/Chairman issued 2021) - Securities & Commodities Authority (SCA) - Codes of Conduct |
| Trading | 11% |
>> UAE-Financial-Rules-and-Regulations Latest Test Prep <<
The CISI UAE-Financial-Rules-and-Regulations Certification is a valuable certificate that is designed to advance the professional career. With the CISI UAE Financial Rules and Regulations Exam (UAE-Financial-Rules-and-Regulations) certification exam seasonal professionals and beginners get an opportunity to demonstrate their expertise. The CISI UAE Financial Rules and Regulations Exam certification exam recognizes successful candidates in the market and provides solid proof of their expertise.
NEW QUESTION # 90
When a firm applies for a licence, it is only necessary to provide an exit strategy plan covering contract termination with an outsourced party if the firm intends to:
Answer: A
Explanation:
The CISI UAE Financial Rules and Regulations imposes additional outsourcing controls when a licence applicant proposes to use cloud computing for servers, databases, applications, storage, networks or similar computing resources. The applicant must demonstrate a clear understanding of cloud-related risks and ensure that prescribed safeguards apply to the outsourced service provider. These include requirements concerning location of servers, confidentiality, annual external auditing of information security, data preservation and backup arrangements. Importantly, the applicant must provide an exit strategy plan dealing specifically with termination of the contract with the outsourced cloud service provider. The strategy must ensure that data and information can be maintained and transferred validly without loss and without breaching applicable laws or regulations. The requirement is consequently associated with cloud computing outsourcing rather than simply with the duration of an outsourcing agreement, the enforceability of a contract, or the fact that a service provider is situated outside the State. Indeed, the CISI rules require the relevant cloud servers to be inside the UAE. Therefore, option A is correct.
NEW QUESTION # 91
The policies of a firm applying for a financial activities licence must include arrangements to provide a copy of its complaints handling procedure to clients:
Answer: C
Explanation:
Under the CISI UAE Financial Rules and Regulations, firms applying for a financial activities licence are required to have formal policies addressing client protection, including clear complaints handling procedures.
Such firms must make these proceduresavailable to clients on request, ensuring transparency and accessibility without imposing undue burden on clients or firms. The regulatory framework does not mandate automatic distribution within fixed timeframes upon client acceptance or complaint receipt but emphasizes accessibility and prompt responsiveness when clients seek the information. This approach balances operational feasibility and client rights to be informed about how their complaints will be managed. Providing the procedure upon request also fosters a trust-based relationship and helps resolve disputes effectively.
Reference:CISI UAE Financial Rules and Regulations - Client Protection and Complaints Handling, Section 4.2.7 (2023).
NEW QUESTION # 92
What is the minimum fine that can be levied on a person found guilty of financing an illegal organisation?
Answer: C
Explanation:
Under Federal Law No. 20 of 2018 and relevant CISI UAE Financial Rules and Regulations, the minimum fine imposed on a person convicted of financing an illegal organisation is AED 150,000. This penalty underscores the seriousness with which the UAE treats the crime of funding illegal or terrorist entities.
Alongside financial sanctions, convicted individuals may face imprisonment and other legal consequences.
These stringent penalties are part of the UAE's commitment to combating terrorism financing and protecting national and international security.
Reference: CISI UAE Financial Rules and Regulations - AML Criminal Sanctions, Section 8.4.5 (2023).
NEW QUESTION # 93
Designated non-financial businesses and professions are banned under the regulations from dealing with which type of organisation?
Answer: A
Explanation:
UAE anti-money laundering regulations impose an explicit prohibition on financial institutions and designated non-financial businesses and professions (DNFBPs) dealing with shell banks. A shell bank is particularly problematic from an AML/CFT perspective because it typically lacks a meaningful physical presence and may not form part of an adequately regulated financial group. Such institutions can therefore be exploited to disguise beneficial ownership, obscure the movement of criminal proceeds or facilitate transactions outside effective regulatory supervision. The applicable UAE rules require relevant institutions to refrain from dealing with shell banks in any manner, including opening accounts for them or accepting funds or deposits from them. The prohibition does not apply merely because an organisation is structured as a mutual co-operative, benefit corporation or legitimate non-profit organisation; such entities may instead be subject to their own risk-based customer due diligence and monitoring requirements. The distinguishing regulatory prohibition in this question is therefore the dealing ban applicable to shell banks. Accordingly, option A is correct.
NEW QUESTION # 94
One of the financial activities included within "dealing in investment" and expected to be conducted by a Financial Analyst is:
Answer: A
Explanation:
The second SCA licence category is Dealing in Investment . The CISI UAE Financial Rules and Regulations identifies the principal functions for firms in this category as Category Manager or Official, Compliance Officer, Risk Management Officer and Investment Operations Manager. It then distinguishes the underlying financial activities and the approved jobs associated with them. The activities include managing investment funds' investments, managing securities portfolios and providing administrative services for investment funds.
For investment-management activities, approved positions include Fund Investment Manager or Portfolio Manager, Principal Financial Analyst and Financial Analyst . Therefore, managing securities portfolios is an activity within the Dealing in Investment category for which the Financial Analyst role is relevant. Trading brokerage and securities dealing instead belong to the first licence category, Dealing in Securities.
Administrative services for investment funds is included in Category 2, but the CISI table records no corresponding Financial Analyst approved job for that activity. Consequently, option C is the only response combining the correct regulated activity with the Financial Analyst role.
NEW QUESTION # 95
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