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100+ Free SCI M5 / RES5 Practice Questions

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2026 Statistics

Key Facts: SCI M5 / RES5 Exam

150 MCQs

110 questions in Part I (Rules) + 40 questions in Part II (Ethics & Skills)

SCI M5 / RES5 Exam Structure

75% & 80%

Dual passing requirement: 75% Part I AND 80% Part II in one sitting

SCI Examination Rules

3 Hours

Total time limit for 150 questions (180 minutes)

Singapore College of Insurance

S$185 - S$210

Approximate exam registration fee inclusive of GST

SCI Fee Schedule

MAS FAA

Mandated qualification under the Financial Advisers Act

Monetary Authority of Singapore

100

Original practice questions in this bank

OpenExamPrep

The SCI Module 5 (RES5) exam consists of 150 multiple-choice questions administered over 3 hours as a Computer Screen Examination at SCI. The exam features a dual-pass threshold: candidates must achieve at least 75% (83/110) on Part I (Rules & Regulations) AND at least 80% (32/40) on Part II (Ethics & Skills) in the same attempt. The exam fee ranges from S$185 to S$210 inclusive of GST. This 100-question practice bank provides comprehensive practice across all FAA statutory sections, MAS Notices, AML/CFT requirements, ethical scenarios, and advisory planning workflows.

Sample SCI M5 / RES5 Practice Questions

Try these sample questions to test your SCI M5 / RES5 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under Section 6(1) of the Financial Advisers Act (FAA), what is the legal consequence for an individual who carries on a business of providing financial advisory services in Singapore without holding a financial adviser's licence or being exempt?
A.A administrative warning letter issued by MAS without any criminal liability
B.An offence punishable upon conviction by a fine not exceeding $25,000 or imprisonment for a term not exceeding 12 months or both
C.A mandatory suspension of all personal bank accounts for up to five years
D.A civil penalty of double the total revenue earned during the period of unlicensed operation
Explanation: Under Section 6(1) of the FAA, any person carrying on a business of providing financial advisory services without holding a financial adviser's licence or being exempt commits an offence. Upon conviction, an individual is liable to a fine not exceeding $25,000 or imprisonment for up to 12 months, or both.
2Which of the following entities is classified as an Exempt Financial Adviser under Section 23(1) of the Financial Advisers Act?
A.A sole proprietorship financial planning boutique with less than 5 employees
B.A bank licensed under the Banking Act 1970 operating in Singapore
C.An independent real estate agency providing property investment advice
D.A crypto asset brokerage firm registered as a digital payment token service
Explanation: Under Section 23(1) of the FAA, banks licensed under the Banking Act, merchant banks, insurance companies licensed under the Insurance Act, and finance companies licensed under the Finance Companies Act are exempt financial advisers.
3An individual wishes to act as an appointed representative for a licensed financial adviser in Singapore. Under MAS Notice FAA-N26, when does the individual's status as an appointed representative become effective?
A.Immediately upon submitting the physical application form to the principal firm
B.Upon the entry of the individual's name into the Public Register of Representatives maintained by MAS
C.Seven business days after passing the CMFAS Module 5 examination
D.Upon receiving a verbal confirmation from the principal firm's Chief Executive Officer
Explanation: Under MAS Notice FAA-N26 and Section 23B of the FAA, an individual is only permitted to act as an appointed representative once MAS has entered the individual's name on the Public Register of Representatives.
4What is the maximum duration for which an individual may hold provisional representative status under the Financial Advisers Act while satisfying examination requirements?
A.3 months
B.6 months
C.12 months
D.24 months
Explanation: A provisional representative scheme allows eligible foreign candidates relocating to Singapore up to a maximum period of 6 months to pass the specified CMFAS modules while working under strict supervision.
5Under Section 33 of the Financial Advisers Act, what obligation does a licensed financial adviser have regarding client money and property received?
A.Client funds may be commingled with the principal firm's operational bank account provided detailed ledger accounting is maintained
B.Client money must be deposited into a designated trust account maintained with a licensed bank no later than the next business day following receipt
C.Client property must be transferred directly into the personal brokerage account of the appointed representative within 48 hours
D.Client money can be invested in short-term speculative derivatives to offset administrative handling costs
Explanation: Section 33 of the FAA requires licensed financial advisers to safeguard client money by depositing it into a segregated trust account with an authorized bank no later than the next business day after receipt.
6Which of the following scenarios describes a statutory offence under Section 36 of the Financial Advisers Act concerning disclosure of interests?
A.A representative discloses a 2% commission rate received from a product provider in the written advisory report
B.A representative fails to inform a client that the representative holds a material financial interest in a recommended unlisted fund
C.A representative informs the client that the firm receives volume rebates from a platform provider
D.A representative provides a client with a free financial literacy booklet published by a non-profit association
Explanation: Section 36 of the FAA mandates that a financial adviser or representative must disclose any interest in securities or investment products when making a recommendation. Failing to disclose a material financial interest is an offence.
7Under MAS Guidelines FAA-G01 on Fit and Proper Criteria, which core pillar is assessed when evaluating an individual's suitability to be a financial advisory representative?
A.Total personal net worth exceeding S$1 million
B.Honesty, integrity, and reputation
C.Minimum 10 years of prior work experience in corporate banking
D.Completion of a master's degree in business administration
Explanation: MAS Guidelines FAA-G01 evaluate fit and proper status across three key pillars: 1) Honesty, integrity, and reputation; 2) Financial soundness; and 3) Competence and capability.
8If MAS issues a Prohibition Order against an appointed representative under Section 59 of the Financial Advisers Act, what is the effect of the order?
A.The representative is prohibited from managing portfolios exceeding S$500,000 for 30 days
B.The individual is barred from providing any financial advisory service or participating in the management of a financial adviser for the specified period
C.The representative must work under a senior supervisor for a period of six months
D.The representative is required to retake all CMFAS examinations within 60 days
Explanation: A Prohibition Order (PO) issued under Section 59 of the FAA prohibits the person from performing regulated financial advisory activities or taking part in the management or directorship of any financial adviser for the duration of the order.
9According to Section 26 of the Financial Advisers Act, making a false or misleading statement to induce a person to enter into an agreement for financial advisory services is:
A.Permissible if the client suffers no actual financial loss
B.A statutory criminal offence carrying fine and imprisonment penalties
C.Subject only to an internal verbal reprimand by the firm's compliance officer
D.Allowed if approved by the product provider's regional marketing team
Explanation: Section 26 of the FAA prohibits financial advisers and representatives from making false, misleading, or deceptive statements to induce clients. Violation is a serious criminal offence.
10Which of the following services is explicitly defined as a regulated financial advisory service under the First Schedule of the Financial Advisers Act?
A.Providing general tax computation filing assistance for individuals
B.Advising others concerning any investment product (other than excluded investment products as specified)
C.Providing general real estate tenancy leasing advice
D.Selling general motor insurance policies exclusively
Explanation: The First Schedule to the FAA lists regulated advisory activities, including advising others concerning investment products, issuing research reports on investment products, and arranging contracts in respect of investment products.

About the SCI M5 / RES5 Exam

The SCI Module 5 / RES5 examination (Rules, Ethics and Skills for Financial Advisory Services) is the essential regulatory qualification mandated by the Monetary Authority of Singapore (MAS) under the Financial Advisers Act (FAA) for individuals seeking to act as appointed financial advisory representatives. The examination syllabus is split into two parts: Part I covers Singapore financial regulations (FAA, FAR, MAS Notices on Suitability FAA-N16, Misconduct FAA-N14, Remuneration FAA-N20, AML/CFT FAA-N06, Cyber Hygiene, ILP Notice 307, MAS Guidelines, CIS Code, and CPFIS rules); Part II tests practical advisory skills and ethics (professional conduct, conflict of interest, MAS Fair Dealing Outcomes 1-5, KYC fact-finding, financial ratio calculation, risk profiling, product suitability presentation, replacement analysis, and portfolio review based on national financial planning guidelines). Candidates must pass both parts concurrently (75% on Part I and 80% on Part II) to satisfy MAS licensing requirements.

Assessment

150 multiple-choice questions divided into Part I (Rules & Regulations - 110 MCQs) and Part II (Ethics & Skills - 40 MCQs), taken in a 3-hour Computer Screen Examination (CSE). Candidates must score at least 75% for Part I AND at least 80% for Part II in the same sitting.

Time Limit

3 hours (180 minutes)

Passing Score

At least 75% for Part I AND at least 80% for Part II

Exam Fee

S$185 to S$210 (inclusive of GST) (Singapore College of Insurance (SCI))

SCI M5 / RES5 Exam Content Outline

73% (110 questions in real exam)

Part I: Rules & Regulations

Financial Advisers Act (FAA) framework, licensing requirements, representative appointment and exemptions, business conduct, prohibited practices, MAS Notices (FAA-N16, FAA-N14, FAA-N26, FAA-N20, FAA-N02, FAA-N06), MAS Notice FAA-N06 (AML/CFT & Sanctions), Cyber Hygiene (FSM-N23/FSM-N24), ILP Notice 307, MAS Guidelines (FAA-G01, FSG-G01, FAA-G04, FAA-G05, CMI 01/2011, FAA-G09, FAA-G14), CIS Code sales practices, and CPFIS investment guidelines.

27% (40 questions in real exam)

Part II: Ethics & Advisory Skills

Professional ethics standards, conflict of interest management, MAS Fair Dealing Outcomes 1 through 5, ethical marketing practices, client relationship management, Know-Your-Customer (KYC) fact-finding, financial ratio calculations (liquidity, debt service, net worth), risk profiling, asset allocation, product suitability matching, replacement/switching disclosures, portfolio rebalancing, and the national Basic Financial Planning Guide.

How to Pass the SCI M5 / RES5 Exam

What You Need to Know

  • Passing score: At least 75% for Part I AND at least 80% for Part II
  • Assessment: 150 multiple-choice questions divided into Part I (Rules & Regulations - 110 MCQs) and Part II (Ethics & Skills - 40 MCQs), taken in a 3-hour Computer Screen Examination (CSE). Candidates must score at least 75% for Part I AND at least 80% for Part II in the same sitting.
  • Time limit: 3 hours (180 minutes)
  • Exam fee: S$185 to S$210 (inclusive of GST)

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

SCI M5 / RES5 Study Tips from Top Performers

1Focus heavily on MAS Notice FAA-N16 (Suitability) and FAA-N06 (AML/CFT), as these represent a large concentration of Part I questions.
2Memorize the dual passing threshold requirement: 75% on Part I (83/110 correct) and 80% on Part II (32/40 correct). Do not neglect Part II preparation.
3Understand the 5 MAS Fair Dealing Outcomes thoroughly and be prepared to identify which outcome is implicated in various scenario-based questions.
4Practice key financial ratio calculations: Liquidity Ratio (Liquid Assets / Monthly Expenses), Debt Service Ratio (Monthly Debt Payments / Monthly Gross Income), and Net Worth (Total Assets - Total Liabilities).
5Master the rules on product switching (MAS Guideline FAA-G05) and replacement of life policies, including mandatory disclosures of fees, loss of rights, and health re-underwriting risks.

Frequently Asked Questions

What is the passing score requirement for the SCI Module 5 / RES5 exam?

Candidates must achieve AT LEAST 75% for Part I (Rules & Regulations) AND AT LEAST 80% for Part II (Ethics & Skills) in the SAME examination session. Failing either part requires re-taking the entire 150-question exam.

How many questions are in the actual SCI M5 exam and what is the duration?

The real exam contains 150 multiple-choice questions (110 questions in Part I and 40 questions in Part II). Candidates are allowed 3 hours (180 minutes) to complete both parts.

What happens if I pass Part I but fail Part II?

You must retake the entire exam. MAS and SCI rules require candidates to pass both Part I (min 75%) and Part II (min 80%) simultaneously in a single 3-hour sitting.

What is MAS Notice FAA-N16 and why is it heavily tested?

MAS Notice FAA-N16 sets out statutory requirements for financial advisers when making recommendations on investment products. It mandates proper fact-finding (KYC), objective needs analysis, reasonable basis for recommendation, and mandatory written documentation provided to the client.

What are the rules regarding CPFIS Ordinary Account and Special Account investments?

CPF members can invest CPF Ordinary Account (OA) savings above S$20,000 and Special Account (SA) savings above S$40,000 into approved CPFIS investment products, subject to stock/gold caps and risk classification requirements.

Is this practice bank officially published by SCI?

No. This practice bank is independently created by OpenExamPrep to help candidates master the RES5/M5 syllabus through original, scenario-based practice questions aligned with MAS regulatory frameworks.