MPF exam Categories of Trustees 受託人的分類 Practice questions

Question 1

Which option correctly lists the three categories of MPF trustees?

Accepted Answer

Local and re-domiciled corporate trustees; offshore corporate trustees; individual trustees

Answer

Local corporate trustees; re-domiciled corporate trustees; offshore corporate trustees

Answer

Local corporate trustees; re-domiciled and offshore corporate trustees; individual trustees

Answer

Local and offshore corporate trustees; re-domiciled corporate trustees; individual trustees

Question 2

Ms Chan’s human resources department proposes appointing the experienced Mr Lam, acting as a natural person, as a trustee of a master trust scheme. Considering only the trustee-category restriction, which statement is correct?

Accepted Answer

The scheme must use a corporate trustee, so Mr Lam cannot act as its trustee as a natural person

Answer

The proposal is acceptable if Mr Lam has sufficient experience

Answer

The proposal is acceptable if every employee agrees

Answer

The proposal is acceptable if Mr Lam is employed by a company

Question 3

Mr Lee’s employer proposes establishing an MPF scheme and invites him to act as one of its trustees as a natural person. Considering only trustee categories, what type of scheme must it be?

Accepted Answer

An employer-sponsored scheme

Answer

A master trust scheme

Answer

An industry scheme

Answer

Any type, provided the employer contributes for its employees

Question 4

Which statement about MPF trustee categories and the schemes they may serve is NOT correct?

Accepted Answer

Industry schemes may be managed only by local corporate trustees

Answer

Local and re-domiciled corporate trustees are grouped in one category

Answer

Offshore corporate trustees are corporate trustees outside Hong Kong

Answer

Individual trustees may act only for employer-sponsored schemes

Question 5

Which statements about MPF trustees and scheme types are correct? (i) Master trust schemes require corporate trustees; (ii) industry schemes require corporate trustees; (iii) individual trustees may act only for employer-sponsored schemes; (iv) employer-sponsored schemes may use only individual trustees.

Accepted Answer

(i), (ii) and (iii) only

Answer

(i) and (ii) only

Answer

(ii), (iii) and (iv) only

Answer

(i), (ii), (iii) and (iv)

Question 6

Ms Wong’s employer is considering joining an industry scheme managed by an offshore corporate trustee. Ms Wong thinks that being outside Hong Kong breaches the trustee-category requirement for industry schemes. Considering only that category requirement, which statement is correct?

Accepted Answer

An offshore corporate trustee is still a corporate trustee and meets the requirement for an industry scheme to use a corporate trustee

Answer

An offshore corporate trustee is an individual trustee and therefore fails the requirement

Answer

Every industry scheme must use a local corporate trustee, so the requirement is not met

Answer

Industry schemes require natural persons as trustees, so the requirement is not met

Categories of Trustees 受託人的分類

Identifying the Three Categories 三類受託人的識別

Master Trust Schemes and Industry Schemes 集成信託計劃及行業計劃

Scope for Individual Trustees 個人受託人的適用範圍

Practice