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Exam Details

CM-CIS: Collective Investment Schemes

For Whom Those intending to advise others on Collective Investment Schemes are required to pass this module, together with RES5 on Rules, Ethics and Skills for Financial Advisory Services, in compliance with the requirements as laid down by the Monetary Authority of Singapore (MAS).

Please refer to MAS Notice FAA-N26 for more information. The MAS Notice FAA-N26 applies to all licensed financial advisers, exempt financial advisers and their appointed representatives. It will supersede Notice FAA-N13 Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers, which will be cancelled with effect from 1 April 2024. Candidates are also advised to check with their Compliance Department for their applicable CMFAS examination modules.

Objectives
To test candidates on their knowledge and understanding of the:

  • features, advantages, disadvantages and risks associated with the investment of Collective Investment Schemes (CIS);
  • alternative investment assets and other financial assets, as well as the techniques, strategies to evaluate and invest in the different types of unit trust funds;
  • different types of financial markets;
  • characteristics and forms of market efficiency, modern portfolio theory, time value of money concept, considerations for investment relating to risks;
  • classification and measuring risks, returns, time horizon, diversification; and
  • various legislations and regulations pertaining to Collective Investment Schemes (CIS).
  • features, types, advantages and disadvantages of structured products, comparison with other investment options, governance structure, documentation and risks associated with the investment of structured products;
  • various types of derivatives in the market, both on-the-exchange and over-the-counter; and
  • applications of structured funds relating to product features, inherent risks, and performance of such funds under various market conditions in determining product suitability for the clients

Contents

Part I

  • [1] Types Of Investment Assets – I 
  • [2] Types Of Investment Assets – II
  • [3] Financial Markets
  • [4] Risk And Return
  • [5] Time Value Of Money
  • [6] Considerations For Investments
  • [7] Unit Trusts
  • [8] Fund Products

Part II

  • [9] Introduction To Structured Products
  • [10] Risk Considerations Of Structured Products
  • [11] Understanding Derivatives
  • [12] Introduction To Structured Funds
  • [13] Examples of Structured Funds
  • [14] Case Studies

Structure & Format

100 MCQ Questions

  • 50 Questions for Part I
  • 50 Questions for Part II

Duration
2 hours.

Minimum Passing Grade & Result Slip
Passing Grade: Candidates are required to obtain at least 70% for Part I AND at least 70% for Part II.
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.

Examination & Registration Fees (inclusive of prevailing GST)

For details, please refer to the Exam Fees section.

Study Materials / UpdatesCandidates would use the eBook to prepare for their examinations. Please note that hard copy study texts will no longer be issued. Any updates to the contents of the study text will be incorporated into the eBook. You may refer to the Version Control Record found at the back of the eBook to check the updates.

Examination Mode
English Medium - Computer Screen Examination (CSE)
The candidate can self-study for the closed book examination.

Examination Frequency & Schedule
The examination in English is conducted once a week. Frequencies of the CM-CIS examination will be increased based on the demand.

For details of the examination dates, please refer to the Examination Schedule section.

Examination ResittingThere is no limit to the number of times that a candidate can sit for an examination.

ExemptionNo exemption is granted from the CM-CIS examination.

Registration
For details, please refer to the Examination Registration Policies section.

CPD Hours
Upon passing the examination for this module, you are entitled to 2 CPD Hours.

Programme Changes
SCI solely reserves the right whether or not to accept any candidate, or to make any changes (including the fees) owing to any unforeseen circumstances, or when it considers necessary or appropriate to do so.

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