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LATEST Question Bank & Mock Exams
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RES 12B - Rules, Ethics and Skills for Securities and Derivatives Dealers of Non-Exchange Members
Applies to all persons who wish to deal in Securities and Derivatives (Non-Exchange Members
About the Exam
- Format: 60 MCQs (computer-based)
- Duration: 1 hour 30 minutes
- Passing score: 75%
- Estimated Pass Rate: 70-75%
- Study Time: 80-100 hours
- No exemption for RES 12B
Exam Syllabus
Securities-related Rules & Regulations (from RES 1B)
- Licensing, business operations, obligations of securities firms
- Market conduct, insider trading, market manipulation
- Client onboarding, client servicing, best execution
- Central Provident Fund Investment Scheme (CPFIS)
- Prevention of financial crimes / AML / CFT
- Ethical codes, conflict of interest, professional standards
- Skills: communications with clients, disclosures, documentation
- Internal controls, risk management, supervision
Derivatives-related Rules & Regulations (from RES 2B)
- Derivatives markets, types of OTC derivatives (e.g. forwards, swaps, options)
- Regulations specific to derivatives dealing under SFA
- Ethical codes as applied to derivatives
- Best practices (e.g. best execution, trade order handling)
- Risk management relevant to derivatives
- Skills: client suitability for derivatives, disclosures, product features
- Conflicts of interest, reporting, supervision
Common / Overlapping Areas
- Ethics, codes of professional conduct
- Suitability / know-your-client (KYC) obligations
- Conflicts of interest, disclosures
- Internal controls, compliance, supervision
- Prevention of financial crimes, AML / CFT rules
- Skills: interpreting rules, applying them to client scenarios, disclosures, best execution, documentations
- Scenario / case-type application
Exam Prerequisites / Resitting
- No prerequisites. Can be retaken immediately.
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