Need help getting started in your career as a financial advisor? We would love to be part of your journey to becoming a successful financial advisor by offering the additional support that you need.
InsuranceJobs is offering sponsorship for the required exams and free training to appropriate candidates that are looking for a little helping hand.
Exams can be stressful and overwhelming at times, therefore, we are here to give guidance and ease any worries that you may have going in. To become a certified financial advisor, candidates are required to pass 4 important courses:
- Module 5 – Rules & Regulations for Financial Advisory
- Module 9 – Life Insurance and Investment-Linked Policies
- Module 9a – Life Insurance And Investment-Linked Policies II
- Health Insurance Module
These courses are mandatory as they will equip you with the proper knowledge needed to service your future clients to the best of your abilities. Let’s take a look at a quick rundown of what to expect.
All about the insurance exam matters
Module 5 – Rules And Regulations For Financial Advisory Services
This course is intended for those who are looking to:
i. Advise others concerning:
- units in a collective investment scheme;
- exchange-traded derivatives contracts (include futures contracts or not futures contracts);
- spot foreign exchange contracts for leveraged foreign exchange trading;
- over-the-counter derivatives contracts.
ii. provide advice on and/or arrange life insurance policies (whether or not including investment-linked policies)
You are required to pass this Module 5 on Rules and Regulations for Financial Advisory Services, in compliance with the requirements as laid down by the Monetary Authority of Singapore (MAS).
Candidates are also advised to check with their Compliance Department for their applicable CMFAS examination modules.
The objective of this course is to test candidates on their knowledge and understanding of the:
- Regulatory framework governing financial advisers and representatives under the FAA;
- Financial Advisers Regulations (FAR);
- Notices and Guidelines governing all financial advisory activities in respect of investment products;
- distribution or marketing of specific functionally similar investment products, namely, life insurance policies and collective investment schemes, including unit trusts.
- process of conducting a proper clients’ needs analysis; CPF and its schemes.
The contents of the course include
- Chapter 1: The Regulatory Bodies and Associations
- Chapter 2: Financial Advisers Act And Financial Advisers Regulations – Financial Advisers And Representatives
- Chapter 3: Financial Advisers Act And Financial Advisers Regulations – Conduct of Business, Powers Of Authority And Offence
- Chapter 4: MAS Notices – Part I [Notice Nos: FAA-N16; FAA-N03 & FAA-N11]
- Chapter 5: MAS Notices – Part II [Notice Nos: FAA-N02; FAA-N10; FAA-N12; FAA-N13; FAA-N14; FAA-N15 & FAA-N20]
- Chapter 6: MAS Notice No: FAA-N06 – Prevention Of Money Laundering And Countering The Financing Of Terrorism – Financial Advisers
- Chapter 7: MAS Notices -Part III [Notice Nos: FAA-N17; FAA-N18; FAA-N19 & FAA-N21]
- Chapter 8: MAS Notice Nos: MAS 302 And MAS 307
- Chapter 9: MAS Guidelines – Part I [Guideline Nos: FAA-G01; FSG-G01; FAA-G04; FAA-G05; FAA-G06 & FAA-G07] And Circular No: CMI 01/2011
- Chapter 10: MAS Guidelines – Part II [Guideline Nos: FAA-G08; FAA-G09; FAA-G10; FAA-G11 & FAA-G14]
- Chapter 11: MAS Guidelines – Part III (Guideline Nos: FAA-G13; FAA-G15; FAA-G16; CMG-G02 & FSG-G02]
- Chapter 12: Revised Code On Collective Investment Schemes
- Chapter 13: Central Provident Fund (CPF)
- Chapter 14: Needs Analysis
Structure & Format
100 multiple-choice questions.
Minimum Passing Grade & Result Slip
Passing Grade: 75%
- One mark will be awarded for each correct answer.
- No mark will be awarded or deducted for any wrong or blank answer.
- No certificate will be issued. Only Result Slip will be issued.
Study Materials / Updates
Candidates are asked to use the eBook to prepare for their examinations. Hard copy study texts will no longer be issued. Any updates to the contents of the study text will be incorporated into the eBook.
English Medium – Computer Screen Examination (CSE)
The candidate can self-study for the closed book examination.