defitnitions
3 or 4
5 W 1H
extra hard
nil
100

What is the FA privilege

ask for sensitive financial info from a stranger

100

characteristic of a proffesional

mastery 

relianility

self interest 

loyalty

100

who bears the risk of par life

client bear risk of non guaranteed element ( inv)

100

example of ethical but not compliant

offer new services to clients but cant due to company regulations

100

fair dealing guidelines

Promotre fair dealing in handling customers

focus on board and senior management

5 fair dealing outcomes

200

principle of objectivity

conflict of interest

200

manifestation of COI

CB I CANT SELL

Churning

Biasness

Involuntary cross-selling

200

what type of asset is CPF

investment asset

200

methods to deal with conflict

find an appropriate solution

empathize and apologize

determine the facts

200

Outcome 1 what shuld board and senior management address

Devise a clear strategy to achieve fair dealing outcomes

Align organisational policies and practices

monitor the effectiveness of the strat and policies

Whistle blowers to report on misconduct


300

fiduciary standard

CLOG

care, loyalty, obedience and Good Faith


300

3 sutability standard (rule based)

KYC

Need analysis

complete documentation and record keeping

300

how to close your recommendation for ILPs

PHS Product highlight sheet

300

net worth =?

total assets - total liabilities

300

guidance for pre transaction checks by supervisors

to selected clients oni

more than or equals to 62 years old

not proficient in English

below GCE N & Os lvl


for selected rep (bsc grade less or equal than b)

all client need call back

400

lasting power of attorney

make decision if he lose mental capacity

400

Fair dealings (3 important)

FYI 5 total

clear roles and resposibility

transparency

managing COI

400

what is the standard multiple of annual income for CI coverage

4x

400

general principles to decide when client reviews are needed

clients personal circumstances

external developments

products purchased

product development

400

changes to interest in listed specified products

7 days and retain 5 years

500

what is the only type of emergency fund bolded in red

SSBs (singapore savings bond)

500

3 ethical pitfalls 

misrepresentation

Sell unsuitable products

fail to recognise COI

500

what % of your income should you invest after -CPF

10%

500

what type of client is it highly recommended to be accompanied during KYC

your parents O_O

500

fit and proper criteria 

1) Honesty, integrity and reputation

- no past offences or prohibition order

2) competence and capability

- satisfactory past performance

3) Financial soundness

-not bankrupt


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