Questions ouvertes

Question 1

What is a UCITS ?

Answer 1

An undertaking for collective investment in transferable securities

Question 2

What is an AIF?

Answer 2

Alternative investment fund

Question 3

Within a management company,the internal audit is considered to be:

Answer 3

Third level of control
il y a 3 niveau de contrôle (Opérationnel,risk management et compliance,internalaudit(

Question 4

Currently, under which directive are UCITS regulated?

Answer 4

Ucits V

Question 5

What is the objective of the KYC?

Answer 5

Identify the investor

Question 6

Which investment fund industry player calculated the NAV

Answer 6

fund accounting

Question 7

What is the role of the risk management department with regards to TA processes?

Answer 7

Review TA processes to identify deficiencies within controls

Question 8

Which team is in charge of maintaining client static data updated within the TA system?

Answer 8

Fund Set-Up

Question 9

Which of those departments includes the team in charge of processing the dividends?

Answer 9

Fund Events

Question 10

Quel acteur est en charge de maintenir le registre des actionnaires du fond ?

Answer 10

Le transfer agent

Question 11

Role of board of directors:

Answer 11

strategic decisions+supervises managementofManCo

Question 12

ManCo: how many conducting officers

Answer 12

> 2

Question 13

Regulator:

Answer 13

CSSF

Question 14

Main characteristics of a UCITS

Answer 14

retail investors, diversification, Europeanpassport

Question 15

closed-ended

Answer 15

limité niveau entrées/sorties
▪ Nombre maximum investisseur
▪ Non-applicable à UCITS

Question 16

FCP:

Answer 16

not a separate legal entity in its own right and investors of FCP holds units

Question 17

In transfer agent environment, What does segregation of duties mean

Answer 17

ensures no single individual controls all aspects of a transaction, reducing risks of errors and fraud.

Question 18

Explain why blockchain technology could transform operations and administrations

Answer 18

by enhancing transparency, security, and efficiency through decentralized systems, smart contracts, and immutable records, reducing costs and improving trust.

Question 19

cut of time

Answer 19

time limit on a day that we can pass the operation so it is registered today

Question 20

Concept of well informed investor

Answer 20

• Institutional investor (businnes purpose)
  -Professional investor (experience and knowledge to make its own investment decisions)
  -Other investors ((High net worth individuals)
  If he adheres to the status of a well informed investor, invests at least 125.000 EUR or has certified expertise by an investment firm or another institution

Question 21

Pledge on register account

Answer 21

Blocking of all or part of shareholders UCI assets capital as guarantee resqueted by a bank, the pledge amount can no longer be used until the bank lfts the blocking

Question 22

Suspicious AML/KYC situation

Answer 22

-Difficult to obtain the proof of the investor identity
-Difficult to confirm the main businnes of a company
-difficult to trace the origins of funds
-Incosistent transactional habits (amount/frequency)

Question 23

What is the value date

Answer 23

The value date is the day when money from a transaction is officially available in the account

Question 24

What are the 2 may types of transactions commissions

Answer 24

1 )Front end load (subscription or switch in)
2) Back end load (Redemption or switch out)

Question 25

3 Differences between UCITS and AIF

Answer 25

-UCITS are more regulated, AIF has fewer restrictions -UCITS are for retail and also for professional investors, AIF are only for well informed investors -UCITS are more liquid than AIF

Question 26

What is the difference between classic funds and alternative funds

Answer 26

-Classic funds : Money market, stocks, bonds, index tracking. -Alternative funds : Private equity, venture capitals, real estate, hedge funds, commodities

Question 27

Compliance activities

Answer 27

a)Draft of a compliance policy b)Draft a compliance charter c)Drafting of procedures and periodical review of these procedures

Question 28

DEPOSITARY VS CUSTODIAN

Answer 28

Depositaries act on their own judgement with respect to investments, transfers and other operations. Custodians conduct activities on the instruction of clients.