CMSA EXAM SCRIPT FINAL PAPER 2026
FULL QUESTIONS AND VERIFIED
SOLUTIONS
◉ "capital market services" means any service as specified by the
Commission under section 76A, but does not include a regulated
activity. Is this correct?
Answer: yes
◉ "capital market services" means any service as specified by the
Commission under section 76A, including any regulated activities. Is
this correct?
Answer: no
◉ The SC has the power to specify any service to be a capital market
service. Is this correct?
Answer: yes
◉ A person providing any capital market service shall apply to be
registered under section 76A of CMSA. Is this correct?
Answer: yes
,◉ A person needs not to register to provide any capital market
service under section 76A of CMSA. Is this correct?
Answer: no
◉ Which is correct? a) "clearing house" means a person whose
activities or objects include the provision
of clearing facilities b) "clearing facilities" means a facility whose
activities or objects include the provision
of a clearing house
Answer: a)
◉ ? in relation to a derivative, means to discharge the obligations of
a
person in the long position or short position under a derivative and
shall include the
discharge of these obligations as a result of the matching up of the
derivative with a
derivative of the same kind under which the person has assumed an
offsetting short
position or offsetting long position, as the case may be
Answer: close out
,◉ The SC's power to make regulations include the following
activities ?
Answer: CMSA 378
◉ Does the Minister have the power to approve a body corporate as
a stock exchange or derivatives exchange?
Answer: yes
◉ Who has the power to approve a body corporate as a stock
exchange or derivatives exchange, the SC, BNM or the Minister? Such
an application for approval shall be first sent to the SC, BNM or the
Minister?, whereupon the said party shall submit to the SC, BNM or
the Minister? such application together with its recommendation.
Answer: the Minister; the SC; the Minister
◉ "exchange holding company" means a body corporate that is the
holding company of any body corporate approved as a stock
exchange or derivatives exchange, and that has been approved as an
exchange holding company under section 15 of CMSA,
but not a body corporate that is the holding company of central
depository or approved as a clearing house. Is this correct?
Answer: no
, ◉ "exchange holding company" means a body corporate that is the
holding company of any body corporate approved as a stock
exchange, derivatives exchange,
central depository or approved as a clearing house and that has
been approved as an
exchange holding company under section 15 of CMSA. Is this
correct?
Answer: yes
◉ Who has the power to approve a body corporate as an exchange
holding company, the SC, BNM or the Minister? Such an application
for approval shall be first sent to the SC, BNM or the Minister?,
whereupon the said party shall submit to the SC, BNM or the
Minister? such application together with its recommendation.
Answer: the Minister; the SC; the Minister
◉ "foreign supervisory authority" means a foreign authority or any
other person
which exercises functions corresponding to the functions of the SC,
BNM or the Minister? under the
securities law
Answer: the SC
◉ Does "information service" incude bond pricing facilities?
FULL QUESTIONS AND VERIFIED
SOLUTIONS
◉ "capital market services" means any service as specified by the
Commission under section 76A, but does not include a regulated
activity. Is this correct?
Answer: yes
◉ "capital market services" means any service as specified by the
Commission under section 76A, including any regulated activities. Is
this correct?
Answer: no
◉ The SC has the power to specify any service to be a capital market
service. Is this correct?
Answer: yes
◉ A person providing any capital market service shall apply to be
registered under section 76A of CMSA. Is this correct?
Answer: yes
,◉ A person needs not to register to provide any capital market
service under section 76A of CMSA. Is this correct?
Answer: no
◉ Which is correct? a) "clearing house" means a person whose
activities or objects include the provision
of clearing facilities b) "clearing facilities" means a facility whose
activities or objects include the provision
of a clearing house
Answer: a)
◉ ? in relation to a derivative, means to discharge the obligations of
a
person in the long position or short position under a derivative and
shall include the
discharge of these obligations as a result of the matching up of the
derivative with a
derivative of the same kind under which the person has assumed an
offsetting short
position or offsetting long position, as the case may be
Answer: close out
,◉ The SC's power to make regulations include the following
activities ?
Answer: CMSA 378
◉ Does the Minister have the power to approve a body corporate as
a stock exchange or derivatives exchange?
Answer: yes
◉ Who has the power to approve a body corporate as a stock
exchange or derivatives exchange, the SC, BNM or the Minister? Such
an application for approval shall be first sent to the SC, BNM or the
Minister?, whereupon the said party shall submit to the SC, BNM or
the Minister? such application together with its recommendation.
Answer: the Minister; the SC; the Minister
◉ "exchange holding company" means a body corporate that is the
holding company of any body corporate approved as a stock
exchange or derivatives exchange, and that has been approved as an
exchange holding company under section 15 of CMSA,
but not a body corporate that is the holding company of central
depository or approved as a clearing house. Is this correct?
Answer: no
, ◉ "exchange holding company" means a body corporate that is the
holding company of any body corporate approved as a stock
exchange, derivatives exchange,
central depository or approved as a clearing house and that has
been approved as an
exchange holding company under section 15 of CMSA. Is this
correct?
Answer: yes
◉ Who has the power to approve a body corporate as an exchange
holding company, the SC, BNM or the Minister? Such an application
for approval shall be first sent to the SC, BNM or the Minister?,
whereupon the said party shall submit to the SC, BNM or the
Minister? such application together with its recommendation.
Answer: the Minister; the SC; the Minister
◉ "foreign supervisory authority" means a foreign authority or any
other person
which exercises functions corresponding to the functions of the SC,
BNM or the Minister? under the
securities law
Answer: the SC
◉ Does "information service" incude bond pricing facilities?
