M9 - Life Insurance And Investment-Linked Policies

For Whom Those intending to provide advice on and/or arrange life insurance policies (whether or not including investment-linked policies) are required to pass this module, together with 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).

Please refer to MAS Notice FAA-N13 for more information. Candidates are also advised to check with their Compliance Department for their applicable CMFAS examination modules.

ObjectivesTo test candidates on their knowledge and understanding of the:

• life insurance and life insurance concepts, including setting life insurance premium and classification of life insurance products;
• different types of traditional life insurance products;
• various types of riders; investment-linked policies; and annuities;
• industry practices including the application and underwriting process; policy services and claims practices; and
• contractual provisions and legal issues such as the law of agency and other relevant aspects such as income tax, insurance nomination, wills and trust. 

Contents

Structure & Format
100 multiple-choice questions.

Duration
2 hours

Minimum Passing Grade & Result Slip
Passing Grade: 70%
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 / Updates
Candidates 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 daily on weekday.

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

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

Exemption
For a list of approved exemptions, please refer directly to MAS Website at http://www.mas.gov.sg under MAS Notice No. FAA-N13: Notice on Minimum Entry and Examination Requirements for Representatives for Financial Advisers and Exempt Financial Advisers.

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

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.