Having taken many exams (Bachelor of Chemistry, MBA, Cosmetic Science), I decide to take on another challenge that I have no relevant experience in: CMFAS. CMFAS stands for Capital Markets and Financial Advisory Services, of which the exam requirements apply to individuals who wish to provide any of the following types of financial advisory service, which is regulated by Monetary of Singapore (MAS). Module 5, 9, HI are recommended for starters.
I tried to find out if it is better to take up courses. But I decided to just sign up for the exam and self-study the textbook (Ver 4, Printed 2011, 367 pages) which is provided by the Singapore College of Insurance.
When I went down to Suntec to collect the textbook, I was a little shocked by the thickness and amount of readings I need to make within 2 weeks before the exam. I felt a little better when I read from another blog that the exam is much easier, but I shouldn't be complacent. Each modular exam costs about $130 and I should aim to pass it 1st try.
When I went down to Suntec to collect the textbook, I was a little shocked by the thickness and amount of readings I need to make within 2 weeks before the exam. I felt a little better when I read from another blog that the exam is much easier, but I shouldn't be complacent. Each modular exam costs about $130 and I should aim to pass it 1st try.
I shall update later when I completed my exam.
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Follow-up on the above posting (dated 14 Oct):
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I passed my Module 5 exam in the first sitting on 10 Oct. Many questions are quite logical which doesn't require to read the textbook. However there were a significant number of questions which required some level of memorizing from the textbook, e.g. Which of the following is a strategy of Outcome One of Fair Dealing ? This type of questions would be hard to just plainly use logic. There were one or two questions which require you to calculate the performance fees (such as calculating based on fulcrum fee or high water mark arrangement). There is no need for a calculator as one can use estimation to eliminate or determine the right answer. Important is to understand the principles behind these methods.
I am glad I have finished it and managed to get partial subsidy from Union Training Assistance Programme (UTAP) as I am a NTUC Union member. Next up, I will be taking the Health Insurance (HI) module. which I will be taking on 24 Oct.
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Follow-up on the above posting (dated 24 Oct):
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I passed my Health Insurance exam. Pretty much easier with only 50 questions (half that of Module 5). At least at the end of the exam, I do not feel that my brain is drained. There are about 5 questions that require calculation. If you understand some of the examples given in the textbook, these should not be a problem.
Next up, i will be taking my Module 9 paper on 7 Nov.
Hi,
ReplyDeleteCan I pls check how was your experience on M9 exam? I have ald tried twice and always stack at 61~69%. Appreciate if you could share any advise.
Thanks.
Hi Sandar,
DeleteI have tried twice and managed to pass in my second try.
There are questions in every chapter but some topics (Chap 1-8) are of relatively higher weightage. There was quite a bit of questions relating to the various life and health insurance and its features [Term, Whole life (Limited Premium/ Ordinary), Endowment (Pure/Anticipated), investment linked, universal, joint/single life, group, Key-Person], and riders. Hence, it is important to be very sure of the differences of such plans because some questions would ask you to recommend which plans to recommend. There are also more questions (~10) relating to calculation in M9 compared to M5, hence formulas such as Offer-bid price, allocation rate based on front or back-end loading, how various fees and charges for ILP affects the calculation, etc etc. Basically if you revised the sample examples in the book, it should be sufficient.
Hope you will be able to pass the next round.
Cheers,
Kat Neo
Hi Sungsoo,
ReplyDeleteI would like to ask what is the duration of self-study you recommend, that will be sufficient to pass M5,M9 and HI?
Thank you!
Hi Belle,
DeleteI spent about 2 weeks studying per module.
Cheers,
Kat Neo
Hi Kat!
ReplyDeleteThank you for your quick reply!
May I ask another question. As I read through the textbooks, I realized they were very very very dry. I didn't even know which part to focus on! Is your study method basically just understanding and memorizing along the way, doing notes, going through the textbook again and again, or did you attempt any free mock papers available on the Internet?
Thank you for your advices!
Yes, it was quite dry. I wrote my own notes as i read the book. When u register for the exam on SCI, they will give you access to an e-Mock Paper. Make sure u do the e-Mock Paper provided by SCI, so that u know the style of questions that will be set.
ReplyDeleteThank you Kat, you told me all I needed to know!
ReplyDeleteTake care.
I am taking my M5 soon, any tips ? As I am a very last min person when comes to studying . Thanks
ReplyDeleteI would advise to at least try the e-Mock paper. But to really pass, writing your own notes will be most effective.
ReplyDeleteis the mock a good indication for M5 exam?
ReplyDeleteThis comment has been removed by the author.
Deletei mean the SCI e-mock paper. Thanks!
DeleteThe format is the same. But the mock paper is much simpler. So must at least get close to all correct for the mock paper.
ReplyDeleteHi, came across your blog while searching for M5 tips. Can I just memorise the answers for the mock papers and skip the text book? I have 5 mock papers for m5 on hand now
ReplyDeleteTo be honest, if u only do that, it is unlikely to pass. The mock paper is insufficient.
ReplyDeleteMay I ask for HI , is the question similar to the SCI mock paper ?Thanks
ReplyDeleteI have mock papers of CMFAS M6 M6A M5 M8A HI M9 M9A.
ReplyDeleteEmail me if any of you are interested. (garysleek@hotmail.com) or (Line:garyboi68)
I check my email daily, so just mail me if interested.
Each module has 4-6 mock papers (100 questions with answers). I can share with you for 30$ for each module.
hi i will be giving the exams for the first time. please tell me how much time i should keep in between to give all 4 exams.
ReplyDeleteI did it with 2 weeks interval. But that was a stretch as I had to read the entire text and write notes. Definitely at least 2 weeks is required.
Deletecan i get the study material sumwhere online before registering for the exam. can anyone share it plz at minshakapoor@yahoo.com
ReplyDeleteHi Wondering if you are able to send any m5 and m9 cmfas mock papers to me? marcustay1989@gmail.com
ReplyDeleteWould really appreciate it as im taking my exams soon!
Hi I would appreciate to have m5/m9/HI cmfas mock papers too. Please email me at royex59gunz@hotmail.com
ReplyDeleteThank you all so much
Hi, I'm having m5 on Monday and following week for m9 and m9a . Can I have cmfas mock paper . Please email to me at yenjan76@hotmail.com
ReplyDeleteThank you so much !
Hi can any body help me out with M5 M9 M9A HI mock paper at ankitjain.dec@gmail.com
ReplyDeleteHi, I will be taking M9A this Friday. Any tips? :) I also take down my notes while studying because for me it's an effective way to understand and memorize what's being said in the textbook. I also tried the SCI's e-mock.
ReplyDeleteHi guys, i just wan to contribute here because i managed to pass m5 today (july 2018) after reading some of the tips here.
ReplyDeletePlease dont attempt any mock papers that are out of date. I tried one and none of the question came up. Try the updated one at sci website. Around 10 similar questions came up.
Do not just memorise the answer. Read the textbook and understand the concept behind because the questions may just changed a few words and it will be different answer. For my exam a lot is about the FAA regulation. Not calculation at all. My final advise is to at least read thoroughly the whole textbook once.
Good luck!
hi, did you pass just by doing the mock papers from sci? Because they only provide one mock paper.
DeleteCould you send me M5 and HI Ebook at hwwawj@gmail.com?
ReplyDeleteThank you very much.
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ReplyDeletehi can anyone send me m9 cmfas mock papers too appreciate dingen1991@gmail.com
ReplyDeletehihi is there any latest 6th edition HI mock test papers? Do send me at hansedzra@gmail.com Thank you so much!!!
ReplyDelete