Client Money & Assets Exam – Quiz 02

Last Updated: June 2024

Table of Contents

CISI Exam Quiz 02 Topics Covers:

understand the concept of prudent segregation
know the record-keeping requirements around prudent segregation
understand the use of exemptions available within the client money rules
understand firms’ responsibilities in respect of bank selection, appointment, and review
understand the client money diversification rules
know which books and records should be maintained and their function
understand the purposes of the internal and external client money reconciliations
know how often the client money reconciliations must be performed
be able to apply the external reconciliation requirements
understand the difference between the standard methods and nonstandard methods of internal client money reconciliation
be able to apply the standard methods of internal client money reconciliation
understand how to deal with reconciliation discrepancies
know what the margined transaction requirement is
understand the requirements for the segregation of safe custody assets
know the obligations created by the permissions
understand the different legal obligations that arise in respect of custody relationships
understand the implications and risks of intragroup models and third party appointments
understand firms’ responsibilities in respect of the selection, appointment, and review of a third party custodian
understand the rules concerning depositing assets outside of the UK
understand the requirements for third party custody agreements
understand the use of exemptions available within the custody rules
understand the impact of legal arrangements on the custody rules
understand when the collateral rules (CASS 3) apply
understand when a firm can enter into securities financing transactions in respect of client assets
know the circumstances in which liens may be granted over client assets
know which books and records should be maintained and the function of each
understand the purpose of the external custody reconciliations, physical asset reconciliations and internal custody record checks
understand how to treat reconciliation discrepancies
understand firms’ obligations in relation to shortfalls
know how often the reconciliations must be carried out

More Post Related To

Continue Reading