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Home  >  Examinations >  M5
 
  • For Whom
  • Objective
  • Contents
  • Structure & Format
  • Duration
  • Minimum Passing Grade & Result Slip
  • Examination & Registration Fees
  • Study Materials / Supplementary Notes
  • Examination Mode
  • Examination Frequency & Schedule
  • Examination Resitting
  • Exemption
  • Registration
  • CPD Hours
  • Programme Changes

  • Examination Schedule

    M5 - Rules And Regulations For Financial Advisory Services

    For Whom
    Those intending to provide any of the following financial advisory services are required to pass this module, together with the relevant product knowledge and analysis modules, in compliance with the requirements as laid down by the  Monetary Authority of Singapore (MAS).

  • Advise on securities and / or futures;
  • Advise on and / or arrange life insurance (whether or not include investment-linked policies);
  • Advise on and / or market of collective investment schemes.
  • Objective
    To ensure potential financial advisers / representatives possess the requisite knowledge of the regulatory framework, including the laws and regulations, and associated codes, notices, practice notes and guidelines governing the capital markets and life insurance intermediaries in Singapore.

    Contents

  • 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 Offences
  • 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 Notice Nos: MAS 302 And MAS 307
  • Chapter 8 - 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 9 - MAS Guidelines Part II [Guideline Nos: FAA-G08; FAA-G09; FAA-G10; FAA-G11 & FAA-G14]
  • Chapter 10 - Revised Code On Collective Investment Schemes
  • Chapter 11 - Central Provident Fund (CPF)
  • Chapter 12 - Needs Analysis
  • Structure & Format
    100 multiple-choice questions.

    Duration
    2 hours.

    Minimum Passing Grade & Result Slip
    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.

    Examination & Registration Fees (Inclusive of 7% GST)
    For details, please click here.

    Study Materials / Supplementary Notes
    A Study Guide will be given to the candidate taking the examination for the first time to assist in the examination preparation.  The candidate is solely responsible for obtaining the correct edition of the Study Guide and the latest supplementary notes, etc, where applicable.  The M5 Study Guide (Hardcopy version) consists of: (a) 387 pages (excluding Supplementary Notes) for 4th Edition Reprinted in July 2013 & July 2014; and (b) 537 pages (with Supplementary Notes from Version 1.1 to 1.4 incorporated) for 4th Edition Reprinted in December 2016. The M5 E-Book consists of 531 pages (with Supplementary Notes incorporated).

    Please note that Supplementary Notes (if any) which update the study guide are testable materials applicable to the relevant examination.

    Please note that the candidate can collect the Study Guide (if applicable) only when the necessary correct payment (if applicable) has been made to SCI.

    For details, please click here.

    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.

    Candidates representing the life insurance companies may refer directly to their respective Training Department for the Examination Schedule. For other candidates, please refer to the Examination Registration in SCI Website.

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

    Examination Resitting
    There is no limit on the number of times that a candidate can sit for an examination. However, he or she will not be permitted to sit for any examination if he or she has either passed or been exempted from it.

    The candidate may attempt the modules under the Capital Markets & Financial Advisory Services (CMFAS) examinations in any order of preference.

    Exemption
    No exemption is granted.

    Registration
    Registration must be made online via SCI Website.

    For details, please refer to the Examination Registration Policies.

    Candidates who represent life insurance companies will have to register using their respective company's user ID and password. Please check directly with the respective Agency / Training Department for the registration details.

    Candidates who represent only General Insurance Companies, Banks / Securities Firms, Insurance Broking Firms, Independent Financial Advisers and others can register online via SCI Website.

    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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