Free FIMM FCE Exam Prep

Nature and classification of CIS (unlisted UTS, PRS and wholesale funds; listed closed-end funds, REITs and ETFs), why investment-linked funds are not UTS, the size and history of the industry, and the participants in the CIS ecosystem.

How UTS and PRS work as investments, their similarities and differences, fund categories (including fund-of-funds, feeder, index, Islamic and government-sponsored funds), methods of investing, benefits and disadvantages, scheme risks, Shariah-compliant schemes and the role of the SC's Shariah Advisory Council.

Roles of the SC, other regulators and FIMM; the CMSA, PRS Regulations, SC guidelines and FIMM rules; regulation of Scheme Providers, oversight functions, deeds, prospectuses, disclosure documents and Product Highlights Sheets; portfolio constraints; Scheme Trustees; distribution channels and agency structure; Consultant registration; and REIT and ETF rules.

Servicing investors, disclosure materials and advertising rules, purchase and suitability assessment, cooling-off rights, repurchase and switching, loan financing of UTS, EPF Members Investment Scheme transfers, distributions and taxation, reporting to investors, quality service, investment alternatives and complaints handling.

Compliance and ethics, and the FIMM Code of Ethics (Fourth Edition, in force since 10 October 2023) with its five core principles: honesty and integrity, professionalism, avoidance of conflict of interest, disclosure of information and observance of confidentiality.

Definition, features and areas of personal financial planning, the six steps of the planning process, financial planner licensing and skills, the Consultant's role in investment planning, client life-cycle stages, and the difference between a financial planner and a UTS/PRS Consultant.

UTS structure and deed, fees and charges, the management expense ratio, dealing, valuation and single pricing, forward and historical pricing, unit splits and distributions, measuring performance, Shariah-compliant UTS operations and the risks of borrowing to invest.

Malaysia's pension landscape and the World Bank pillars, EPF, KWAP and LTAT, the PRS framework and the Private Pension Administrator, core funds and the default option, tax incentives, sub-accounts A and B, vesting, withdrawals, portability, nomination, fees, pricing and Shariah-compliant PRS.