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Home  >  Examinations >  ChFC®/S

Chartered Financial Consultant®/Singapore (ChFC®/S)


Register For ChFC®/S Examination
Register For ChFC08 Tutorial:  Class 1
Register For ChFC09 Tutorial:  Class 1
Examination Schedule
Download ChFC®/S Programme Brochure

Programme Description
The nine-course Programme leading to the award of the ChFC®/S professional designation offers financial advisory professionals comprehensive financial planning knowledge to better assist their clients in this increasingly competitive field. In particular, candidates will have opportunities to explore in-depth practical applications of financial planning, estate planning, and retirement planning concepts, including planning for business owners, professionals and wealthy clients. This is a self-study programme, except for ChFC08 and ChFC09 in which candidates must attend a 14-hour and 2-hour tutorials before attempting the examination.

Who Will Benefit

  • Financial Planners / Life Insurance Advisers
  • Relationship Managers
  • Bancassurance Staff
  • Life Insurance Brokers
  • Other insurance professionals whose job responsibilities require in-depth knowledge of financial planning principles, practices and products, and those wishing to obtain a professional insurance / financial planning qualification for their career advancement
  • Entry Requirement

    Candidates who register for the ChFC®/S programme must have passed the following examinations:

    (1) CMFAS Module 5,
    (2) Module 8 or Module 9, and
    (3) SCI Health Insurance

    How These Qualifications Can Help Your Career Development

  • Gain knowledge of the process, tools and concepts of financial planning and investments.
  • Use a systematic approach to risk management, insurance and retirement planning.
  • Apply the basic tax concepts and skills to deal with individual income, expenses and allowances.
  • Learn the various types of estate planning tools, such as wills, trusts, powers of attorney and life insurance.
  • Discuss the major types of investments and risk profiles.
  • Learn the essential skills to formulate a sound financial plan to meet the clients’ objectives and conform to ethical standards and practice.
  • Gain insights on the importance of business succession planning and buy-sell agreements.
  • Learn wealth management strategies to better manage the clients’ risks and assets.
  • Develop the ability to design, construct and present a financial plan, and make recommendations to the clients.
  • Module Description

    • Financial Planning: Process and Environment (ChFC01)

    • Provides an overview of the financial planning process, including communication techniques, ethics, risk tolerance, time-value-of-money concepts and financial planning applications. It also offers an understanding of the role and responsibilities of a financial planner, along with some analytical skills to aid in financial decision making.

      The ChFC01 Study Text consists of 290 pages (excluding Supplementary Notes).

    • Risk Management, Insurance and Retirement Planning (ChFC02)

    • Focuses on the use of risk management techniques in treating the risks faced by individuals. It also provides an outline of the basic insurance principles, as well as the various classes of insurance, given the importance of insurance in the risk management process. In addition, it presents the steps in insurance planning to equip the candidates with the knowledge on how to perform insurance planning services.

      Candidates will be taught the importance of retirement planning, the possible sources of retirement funds, how to invest for retirement, how to help their clients overcome inadequate retirement resources as well as the steps involved in quantifying one’s retirement needs.

      The ChFC02 Study Text consists of 271 pages (excluding Supplementary Notes).

    • Tax, Estate Planning and Legal Aspects of Financial Planning (ChFC03)

    • Examines income tax laws relating to the transactions of individuals, as well as planning for minimisation and deferral of taxation for the clients. It also reviews cases that are representative of tax planning and the techniques involved. It also provides an overview of the legal aspects of financial planning, including common law relating to financial planning, as well as the laws governing successful estate planning. Cases representative of estate planning, including a study of the techniques of estate planning, will be presented and discussed.

      The ChFC03 Study Text consists of 284 pages (excluding Supplementary Notes).

    • Investments (ChFC04)

    • Covers the different risks and returns from the various forms of investments, as well as the types of investment strategies that can be taken, given the increasingly challenging investment environment. It also provides a systematic approach to investment planning and how to deal optimally in a volatile market.

      The ChFC04 Study Text consists of 364 pages (excluding Supplementary Notes).

    • Plan Construction, Practice Standards and Ethics (ChFC05)

    • Complements the theoretical aspects of financial planning by addressing key practice and plan construction issues. It outlines the essential skills needed to formulate a sound financial plan and how it can be effectively presented, so that it fulfils the clients’ financial objectives and conforms to practice and ethical standards.

      The ChFC05 Study Text consists of 217 pages (excluding Supplementary Notes).

    • Planning for Business Owners and Professionals (ChFC06)

    • Focuses on the various forms of business structures, and highlights the risks and returns involved in a business investment. It also provides insights on buy-sell agreements and the importance of planning for business succession.

      The ChFC06 Study Text consists of 387 pages (excluding Supplementary Notes).

    • Wealth Management and Financial Planning (ChFC07)

    • Examines the importance of creating and protecting wealth as it has a great impact on clients’ current and future lifestyles. It also outlines the proper wealth management techniques and strategies that will help their clients to better manage their risks, transfer wealth, and maximise their financial quality of life.

      The ChFC07 Study Text consists of 249 pages (excluding Supplementary Notes).

    • Financial Planning Applications (ChFC08)

    • Presents a capstone to the ChFC programme by encompassing and encapsulating holistic knowledge that the student has gained from ChFC01 to ChFC07 studies. Case studies and analyses are used to integrate the various planning techniques, tools and products covered in these courses. It also provides practical experience in analysing and solving realistic financial problems of individuals and families, high net-worth individuals and business owners, ranging from simple fact patterns and basic documents to complex situations. Students will gain practical experience in formulating and presenting a holistic Financial Plan covering the 6-steps of financial planning.

      The ChFC08 Study Text consists of 278 pages (excluding Supplementary Notes).

    • Ethics for the Financial Services Professional (ChFC09)

    • Provides a practical framework for making ethical business decisions in the financial services industry. It covers the importance of ethics as a subject, the eight-step model of ethical decision making framework and the three obstacles to ethical decision making. It describes the elements of an ethical organisation and the characteristics of financial services professional. The module also investigates ethical approaches to placing financial products, determining suitability, and assessing risk. The three issues of replacement, rebating and compensation are also discussed.

      The ChFC09 Study Text consists of 186 pages (excluding Supplementary Notes).

    Examination/Assessment Format & Structure

    The examinations for:

    ChFC01 to ChFC07 are conducted weekly, according to the Examination Schedule. All modules are examined in English via the Computer Mode.


    Examination /

    Examination/Assessment Format

    Marks/Grade Allocated

    Pass Requirement


    2 Hours

    100 Multiple-Choice Questions

    100 Marks

    70% Pass Mark


    2 Hours

    100 Multiple-Choice Questions

    100 Marks

    70% Pass Mark


    2 Hours

    100 Multiple-Choice Questions

    100 Marks

    70% Pass Mark


    2 Hours

    100 Multiple-Choice Questions

    100 Marks

    70% Pass Mark


    2 Hours

    70 Multiple-Choice Questions (case-based)

    70 Marks

    70% Pass Mark


    2 Hours

    100 Multiple-Choice Questions

    100 Marks

    70% Pass Mark


    2 Hours

    100 Multiple-Choice Questions

    100 Marks

    70% Pass Mark

    ChFC08 - Practicum Assessment

    1 Hour

    One-on-one Presentation of Financial Plan to the Assessor

    Only “Competent” or “Not-Yet-Competent”

    To be assessed as “Competent”

    ChFC08 - Case Studies

    3 Hours

    2 Case Studies
    (6 Short Essay Questions each)

    150 Marks

    70% Pass Mark


    1 Hour

    30 Multiple-Choice Questions

    30 Marks

    80% Pass Mark

    Compulsory 14-Hour & 2-Hour Tutorial Schedule For Module ChFC08 & ChFC09

    The duration is 16 hours conducted over two consecutive days. Please view the Tutorial Schedule and register early.

    Register For ChFC08 Tutorial:  Class 1
    Register For ChFC09 Tutorial:  Class 1

    The candidate is required to read and study the materials, and be prepared before attending the tutorial class at SCI. The tutorial may be cancelled if there is insufficient enrolment number to sustain the viability of the tutorial class.

    Note: ChFC08 and ChFC09 should be registered in the same intake




    Funding Support


    9.00 am to 6.00 pm (on Day 1)

    9.00am to 4.00 pm (on Day 2)

    100% Class Attendance required and submission of written Financial Plan (template provided)

    WDA Funding Support of up to 95% available (subject to its terms and conditions)


    4.00 pm to 6.00 pm

    100% Class Attendance required

    Note for Module ChFC08:

    Candidates who fail any part of the ChFC08 examination components will have to re-register and pay the prevailing fees to attempt that particular part again on the next scheduled examination date.

    Candidates are only allowed one retake for each part. Should candidates fail on their second attempt, they will be required to attend the whole course again, and pay the full course fee as applicable.

    2017 Schedule for ChFC08

    1st Intake

    2nd Intake

    3rd Intake

    Class 1

    23 & 24 Feb 2017

    29 & 30 Jun 2017

    26 & 27 Oct 2017

    Class 2

    27 & 28 Feb 2017

    6 &7 Jul 2017


    Submission of Financial Plan

    17 Mar 2017

    21 Jul 2017

    17 Nov 2017

    Assessment Period

    3-7 Apr 2017

    1-4 & 7 Aug 2017

    27 Nov-1 Dec 2017


    11 Apr 2017

    15 Aug 2017

    5 Dec 2017

    Release of Results

    9 Jun 2017

    16 Oct 2017

    5 Feb 2018

    Rescheduling of Practicum Assessment and Case Studies Paper is allowed provided notice is given 8 or more working days' before the scheduled dates.

    Please view the Examination Schedule and register early.


    WDA Funding of up to 95% is applicable for ChFC08 and ChFC09 Tutorial Classes. Should you have queries relating to company profile registration, training grant applications and ad-hoc claims in SkillsConnect, you may wish to call the WDA hotline at 6883 5885 or email to wda_skillsconnect_helpdesk@wda.gov.sg

    Tutorial For ChFC01 To ChFC07

    For more information on ChFC01 to ChFC07 tutorial classes, please directly contact:
    Insurance and Financial Practitioners Association of Singapore
    35 Selegie Road
    #10-01 Parklane Shopping Mall
    Singapore 188307
    Tel: (65) 6535 1221 Fax: (65) 6534 2345 / 6535 1008
    Website: http://www.ifpas.org.sg/
    E-mail: education@ifpas.org.sg

    Examination Fees

    (Applicable For 2017)

    The registration fee of S$21.40 (inclusive of 7% GST) is waived for 2017.

    Fee For Self-Study (Inclusive of 7% GST)

    Fee Per Module: ChFC01 To ChFC07 (Self-Study)

    First Attempt
    (With Study Text)

    Each Subsequent Attempt (Without Study Text)

    Member Company



    Non-Member Company



    Fee For Module ChFC08 (Compulsory Tutorial)

    First Attempt (With Study Text and inclusive of the 14-hour Compulsory Tutorial)

    Each Subsequent Attempt (Without Study Text)

    Member Company


    S$160.50 (Practicum)
    S$80.25 (Case Studies)

    Non-Member Company


    S$176.55 (Practicum)
    S$88.28 (Case Studies)

    Fee For Module ChFC09 (Compulsory Tutorial)

    First Attempt
    (With Study Text and inclusive of the 2-hour Compulsory Tutorial)

    Each Subsequent Attempt (Without Study Text)

    Member Company



    Non-Member Company



    CPD Hours Awarded

  • ChFC01 to ChFC07: 2 CPD hours per module for the relevant examination passed
  • ChFC08: 14 CPD hours and an additional 4 CPD hours for the relevant examination passed
  • ChFC09: 2 CPD hours and an additional 1 CPD hour for the examination passed
  • Qualifying Requirements To Be A ChFC®/S Holder

    Education Requirement
    The candidate must pass the examinations for all the nine modules and meet the experience and ethics requirements.

  • Sequence Of Examination Attempts
    1) Unless specifically exempted from the module, candidates MUST FIRST register for the ChFC01 module and attempt the examination before they are allowed to register for the other modules. This is to ensure that candidates possess the requisite foundational knowledge to be able to progress in their studies for the ChFC®/S Programme.

    2) Candidates can subsequently attempt the ChFC02 - ChFC07 modules in any sequence.

    3) Candidates may only attempt ChFC08 and ChFC09 modules after they have passed (or have been exempted from) modules ChFC01 - ChFC07.

  • Number Of Attempts Allowed
    There is no limit on the number of attempts that a candidate can take to complete each module, subject to the Examination Schedule and the maximum period for completion as specified.

  • Maximum Period For Completion
    To obtain the ChFC®/S qualification, candidates must pass all nine modules within five consecutive years. The qualifying period commences from the date of the first examination registered. If the candidate does not complete all the modules within this time limit, the modules previously completed will no longer be valid and the candidate will be required to re-take all modules.

  • Time Bar For Examination Completion
    Please note that it is the candidate’s responsibility to monitor his or her own time bar for the examination completion of the ChFC®/S Programme accordingly. The SCI will not send any notification to remind the candidate in this respect.
  • Experience Requirement
    Three years of full-time business experience is required for the award of the ChFC®/S designation. The three-year period must be within the five years preceding the date of the award. An undergraduate or graduate degree from an accredited educational institution qualifies as one year of business experience.

    Ethics Requirement
    To comply with the high ethical standard expected of a Chartered Financial Consultant®/Singapore, every holder of the ChFC®/S designation must sign a statement agreeing to be bound by the Code of Ethics.

    SCI reserves the right to withdraw the ChFC®/S designation should any ChFC®/S holder be found to violate the ChFC®/S Code of Ethics.

    Continuing Professional Development (CPD) Requirement

    To maintain the designation, the ChFC®/S holder is required to register a minimum of 30 hours of CPD credits with SCI every two years. The CPD credits for each reporting period must comprise educational activities in acceptable subject matter areas. The ChFC®/S holder must have independent verification for the 30 CPD hours in the event of being audited. Independent verification should consist of grade reports, attendance certificates, transcripts, or written confirmation of attendance from the relevant organisation. Written confirmation should include the name, topics addressed, date and duration of programme, and a signature of an authorised representative. Renewal of the ChFC®/S designation is subject to the fulfillment of the required CPD requirements.

    If the ChFC®/S holder did not fulfil this requirement, he /she will not be allowed to use the designation till the required CPD hours have been fulfilled accordingly.

    ChFC®/S Designation
    Candidates who successfully meet the education requirement and the necessary experience and ethics requirements will be entitled to apply for the ChFC®/S designation awarded by SCI under licence from The American College, with the word “Singapore”. This is because the studies are based on Singapore laws. If the ChFC®/S holder wishes to practise in the US, he or she will need to take the US equivalent papers for the ChFC/US title. The ChFC/S title is not transferable in this case.

    Progression Pathway Towards CLU®/S Designation
    Having attained the ChFC®/S designation, the ChFC®/S holders may earn the Chartered Life Underwriter®/Singapore (CLU®/S) designation by completing four additional modules of the CLU®/S programme, namely:

  • Individual Life Insurance
  • Life Insurance Law
  • Life Insurance Company Operations
  • Group Benefits and Health Insurance

  • Recognition Of Prior Learning (RPL) Credits Awarded By The Chartered Insurance Institute (CII)

    Singapore College of Insurance qualification

    CII recognition of prior learning award until 31 January 2017

    Chartered Financial Consultant®/Singapore (ChFC®/S)

    Exemption from (AWF) Award in Financial Planning (15 Certificate-level credits in the Financial Services framework)

    The CII will accept applications based on the completed qualification. Students must have completed the full qualification without being awarded exemptions from any of the eight modules.

    Candidates are however advised to familiarise themselves with the CII RPL Scheme rules and application process before submitting their applications.

    We also wish to draw the attention of candidates to the following statement by the CII:

    "At its sole discretion, the CII reserves the right to make, amend and/or withdraw credit awards which are the subject of this application at any time, on due notice as it sees fit and without monetary compensation. Under no circumstances will the CII accept any liability for consequential, indirect or special losses or special damages of any kind arising out of or in any way connected with the awarding or withdrawal of credit awards. The award of credits in the CII’s qualification framework is a privilege and not a right and awards can change over time as qualification frameworks evolve. There is no intent to bring legal relations into being or otherwise establish a contractual relationship between the CII and students."

    Should you have any further questions with regard to CII RPL credits or application, you may contact the CII Customer Service team at +44 (0) 20 8989 8464 or e-mail to: customer.serv@cii.co.uk.

    Pathway To The Australian And New Zealand Institute Of Insurance And Finance (ANZIIF) Membership

    Candidates who complete the Chartered Financial Consultant®/Singapore (ChFC®/S) Programme are eligible to apply for 60 points towards the 100 points required for ANZIIF Fellow CIP membership.

    The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) is the leading membership body and provider of education, training and professional development services to the insurance and financial services industry in Australia, New Zealand and the Asia-Pacific region. Established in 1884, ANZIIF has more than 14,000 members in over 50 countries. With offices in Australia, New Zealand and China, our mission is to lead, engage and support the industry through education, thought leadership, community initiatives and the promotion of professional standards. Through our activities, we aim to help members to achieve their career and corporate aspirations and to contribute to the success of the insurance and financial services industry.

    ANZIIF members are recognised throughout the insurance and financial services industry as professionals who are qualified, knowledgeable and committed to excellence in their fields. You can read more about CIP on the ANZIIF Website at: https://theinstitute.com.au/membership/cip

    For more information on the ANZIIF membership application and applicable fees payable, you can refer to this link at: https://theinstitute.com.au/membership/about-membership. Do note that ANZIIF reviews its membership criteria, benefits and eligibility requirements from time to time. All decisions on election to membership will reflect the requirements at the time of application.

    ChFC®/S / CLU®/S Connection
    SCI ChFC®/S / CLU®/S Connection is set up specially for the ChFC®/S / CLU®/S graduates and candidates in the region to communicate and interact with SCI. This platform features activities, as well as news and updates, relevant to the interests of the ChFC®/S / CLU®/S graduates and candidates.

    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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