The Module 9 Exam applies all persons who wish 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 the module M5 on Rules And Regulations For Financial Advisory Services, in compliance with the requirements as laid down by the Monetary Authority of Singapore (MAS).

Exam Syllabus (6th Edition)

-Risk And Life Insurance
- Setting Life Insurance Premium
- Classification Of Life Insurance Products
- Traditional Life Insurance Products
- Riders (Or Supplementary Benefits)
- Participating Life Insurance Policies
- Investment-linked Life Insurance Policies (ILPS): Types, Features, Benefits And Risks
- Investment-linked Sub-Funds
- Investment-linked Life Insurance Products: Computational Aspects
- Annuities And Other Life Insurance Products
- Application And Underwriting
- Policy Services
- Life Insurance Claims
- The Insurance Contract
- Law Of Agency
- Income Tax And Life Insurance
- Insurance Nomination, Wills And Trusts

About the Exam

- 100 MCQs (computer-based)
- Including about 20% questions involving calculations
- Duration: 2 hours
- Passing score: 70%
- Fee: $185.30 (Mon-Fri 9-6pm) or $203.83

Relevant Products

- 1144 unique practice (mock exam) questions in all Plans

- 11 Hrs of E-Learning tutorial or audio course content offered in Silver Plan or higher

A recommended study time of 72 hours is recommended to prepare for this exam.

Up to Date, Latest Edition

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Exam Prerequisites / Resitting

There is no prerequisite to take this exam. You may also retake it immediately and with no restriction as to the number of times you take it before you pass.

Certificate of Completion

CMFAS Certificate of Completion Sample

Obtain a Certificate of Completion for your learning efforts, even before you pass the exam! This is especially useful when you need to convince potential employers of your readiness for the job.

Pricing Information

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Official Study Guide and Booking of Exam Date

CMFAS Academy is a private institution offering online e-learning programs to help candidates pass the exams. The official administrator of the exams are Institute of Banking & Finance (IBF) and Singapore College of Insurance.

Candidates who are unsure which exam to take should check with the compliance department of the company. To book for the exam, please register online through the official websites of IBF or SCI.

For more info on the exams, please read up this article: Everything About CMFAS/CACS/FMRP/RES Exams


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Exemption for Module 9

Persons possessing any of the following qualifications (which must be attained through passing the specific respective exams) or work experience are not required to pass Module 9:

1. Degree in actuarial science or insurance;

2. Chartered Life Underwriter* (CLU) by the American College, USA; or Chartered Life Underwriter Singapore* (CLU/S) by SCI;

3. Chartered Financial Consultant* (CHFC) by the American College, USA; or Chartered Financial Consultant Singapore* (CHFC/S) by SCI;

4. Certified Financial Planner by the Financial Planning Standards Board or the Certified Financial Planners Board of Standards;

5. Associate/Fellow of the Institute of Actuaries, England;

6. Associate/Fellow of the Faculty of Actuaries, Scotland;

7. Associate/Fellow of the Society of Actuaries, USA;

8. Associate/Fellow of the Institute of Actuaries of Australia;

9. Associate/Fellow of the Casualty Actuarial Society, USA;

10. Certificate in Life Insurance (Investment-Linked Policies) by SCI plus any of the following:
(a) Life Insurance Agents Certificate/Pre-contract Examination/Certificate in Life Insurance/Diploma in Life Insurance awarded by SCI;
(b) Associate/Fellow of the Chartered Insurance Institute (Life), UK;
(c) Senior Associate/Fellow of the Australian & New Zealand Institute of Insurance and Finance (Life);
(d) Fellow of Life Management Institute, USA;

11. 3 years of relevant and continuous working experience in respect of the financial advisory service to be provided with no break in service of more than 3 years between the individual’s last working experience and the date of his application for a representative’s licence prior to 26 November 2010, or of commencement of the provision of financial advisory services prior to 26 November 2010, or his principal’s lodgment with the Authority of documents under section 23F of the Act, in relation to his appointment as an appointed representative, as the case may be. The working experience may be from UK, USA, Canada or Australia.

* The applicant must have covered, under CLU (or CLU/S) and CHFC (or CHFC/S), the following two specific subjects:
(i) Fundamentals of financial planning or Insurance and financial planning; and
(ii) Investments

For the most up to date list of exemptions, please click "View Notice" on this official page here and look for Annex 4A.

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