FIMM FCE Practice Questions - FIMM Combined Examination (FCE) Exam

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A collective investment scheme (CIS) such as a Malaysian unit trust pools money from many investors. Who legally owns the assets held in the scheme?

The unit holders, in proportion to the units they hold The trustee, who holds the assets on behalf of unit holders The unit trust management company (UTMC) The Securities Commission Malaysia

Correct Answer:

The trustee, who holds the assets on behalf of unit holders

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