Chapter 2: Regulatory Framework
MPF Intermediaries Examination · Chapter 2: Regulatory Framework
Q1 Free
Under which ordinance was the Mandatory Provident Fund Schemes Authority (MPFA) established in September 1998?
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Correct Answer: B
- The MPFA was established in September 1998 pursuant to the Mandatory Provident Fund Schemes Ordinance (MPFSO, Cap.485) to ensure compliance with the MPFSO and to regulate, supervise and monitor the operation of the MPF System.
- Cap.426 is the ORSO under which the MPFA was later (in 2000) designated as Registrar of Occupational Retirement Schemes, but it is not the founding statute of the MPFA.
Q2 Free
Which of the following is NOT a statutory function of the MPFA under the MPFSO?
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Correct Answer: C
- Determining the NAV per unit of constituent funds is an operational responsibility of approved trustees and investment managers, not an MPFA statutory function. The MPFA's functions include approving trustees, registering schemes, regulating trustee affairs, and regulating sales and marketing.
- Options A, B and D are all explicit MPFA functions listed under section 6E of the MPFSO.
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