Rules, Ethics and Skills for Financial Advisory Services — Information & Free Practice

About Rules, Ethics and Skills for Financial Advisory Services

Rules, Ethics and Skills for Financial Advisory Services · SG

Key exam facts

Provider

Singapore College of Insurance Limited (SCI) conducts the RES5 examination; MAS sets the regulatory competency requirements under FAA-N26.

Format

English-medium, closed-book Computer Screen Examination (CSE); 150 multiple-choice questions in two parts.

Exam questions

Total questions: 150.

Time limit

3 hours for the examination.

Passing score

At least 75% in Part I AND at least 80% in Part II. One mark per correct answer; no marks awarded or deducted for wrong or blank answers.

Exam fee

Per attempt, inclusive of prevailing GST and S$21.80 non-refundable registration fee: weekday 9am–5pm S$185.30 for candidates from SCI/IBF member companies, S$218.00 for non-members; weekday after 5pm S$203.83 and S$236.53 respectively. Same fees for first and subsequent attempts; member eligibility and corporate-registration requirements apply.

Topics covered

• Part I (73.33%)

  • Financial Advisers Act And Financial Advisers Regulations – Financial Advisers And Representatives
  • Financial Advisers Act And Financial Advisers Regulations – Conduct Of Business, Power Of Authority And Offences
  • MAS Notices – Part I [Notice Nos: FAA-N16; FAA-N03 And FAA-N11]
  • MAS Notices – Part II [Notice Nos: FAA-N02; FAA-N10; FAA-N12; FAA-N14; FAA-N20 And FAA-N26]
  • MAS Notice No: FAA-N06 - Prevention Of Money Laundering And Countering The Financing Of Terrorism – Financial Advisers
  • MAS Notices – Part III [Notices Nos: FAA-N17; FSM-N23; FAA-N19 And FSM-N24]
  • MAS Notice Nos: MAS 307 - Investment-linked Policies (ILPs)
  • MAS Guidelines – Part I [Guideline Nos: FAA-G01; FSG-G01; FAA-G04 & FAA-G05] And Circular No: CMI 01/2011 (ILPs)
  • MAS Guidelines – Part II [Guideline Nos: FAA-G09; FAA-G10; FSG-G04 And FAA-G14]
  • MAS Guidelines – Part III [Guideline Nos: FAA-G13; FAA-G15; FAA-G16; CMG-G02 And FSG-G02]
  • Revised Code On Collective Investment Schemes
  • Securities Dealing – Market Conduct
  • Central Provident Fund

• Part II (26.67%)

  • Why Professional Ethics Matter
  • Professionalism
  • Ethical Behavior
  • Unethical Behavior
  • Conflict Of Interest
  • Fair Dealing
  • Ethical Marketing & Sale Of Financial Products
  • Developing Client – Representative Relationships
  • Fact Finding And Needs Analysis
  • Analysing And Evaluating A Client’s Financial Status
  • Developing Appropriate Strategies And Solutions
  • Presentation Of Analysis And Solutions To Clients
  • Reviewing Clients’ Portfolios
  • Basic Financial Planning Guide

How to prepare

Work through the topics, read the explanation after each answer, and revisit the areas where you miss questions. Use the official outline and reference materials below to guide your study.

These independent practice questions are not actual exam items and do not guarantee a passing result.

Frequently asked questions

Official sources and references

• SCI RES5 examination details

  Contents, Part I and Part II

• SCI RES5 examination details

  Structure & Format

• SCI release of new versions of regulatory examination study texts

  Page 1, RES5 row

• SCI regulatory study text version notice

  Page 1, RES5 row, effective date

• SCI RES5 examination details

  Examination Mode

• SCI RES5 examination details

  Duration

• SCI RES5 examination details

  Minimum Passing Grade & Result Slip

• SCI RES5 current examination fees

  Exam Fees, member and non-member rows

• SCI RES5 current examination fees

  Exam Fees, Note

Confirm current exam arrangements with the exam provider.