Representative Offices
Test Your Knowledge on Representative Offices
Are you familiar with the regulations and activities of Representative Offices? This quiz will challenge your understanding of the key concepts and rules governing Authorised Firms and their operations.
- 10 engaging multiple-choice questions
- Learn about the roles and limitations of Representative Offices
- Test your understanding of compliance and reporting requirements
How many categories of Authorised Firms are available?
5 +Representative Offices
8 + Representative Offices
8
5
A _____________ is designated by the Representative Office.
Principal Officer
Principal Compliance Officer
Compliance Officer and Money Laundering Reporting Officer
Principal Representative
A Representative Office is permitted to carry on a very narrow set of activities. This includes:
Marketing of financial services or financial products
Marketing of financial service of financial products, act as point of contact and source of information and report to Head Office.
Marketing, advising and arranging activities.
Can a Representative Office have more than 100 Clients?
Yes
No
A Representative Office can provide general information (i.e. Name and details, fees, charges, or premiums, etc.) about financial products or financial services offered by a related party.
Yes
No
It is not required for a Principal Representative to be a UAE resident.
Yes
No
A Representative Office is not permitted to undertake activities which can reasonably be regarded by potential customers as indicating (or implying) that the Client have a relationship with the Representative Office.
Yes
No
A Representative Office is prohibited from marketing the financial products and services of a related parties located in the DIFC and/or a third party unrelated to it.
Yes
No
The DFSA expects that all of its Authorised Firms to maintain records for a minimum of nine years.
Yes
No
A Representative Office can have more than one Principal Representative.
Yes
No
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