Customer Knowledge Assessment
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What is Customer Knowledge Assessment?
{ const topicDetailsPositionTop = $refs['anchor-answer-1'].getBoundingClientRect().top + window.scrollY - (window.innerWidth >= 420 ? 86: 62); window.scrollTo({top: topicDetailsPositionTop, behavior: 'smooth'}); }">What is a Specified Investment Product?
{ const topicDetailsPositionTop = $refs['anchor-answer-2'].getBoundingClientRect().top + window.scrollY - (window.innerWidth >= 420 ? 86: 62); window.scrollTo({top: topicDetailsPositionTop, behavior: 'smooth'}); }">Who is required to undergo the Customer Knowledge Assessment?
{ const topicDetailsPositionTop = $refs['anchor-answer-3'].getBoundingClientRect().top + window.scrollY - (window.innerWidth >= 420 ? 86: 62); window.scrollTo({top: topicDetailsPositionTop, behavior: 'smooth'}); }">How is the Customer Knowledge Assessment conducted?
{ const topicDetailsPositionTop = $refs['anchor-answer-4'].getBoundingClientRect().top + window.scrollY - (window.innerWidth >= 420 ? 86: 62); window.scrollTo({top: topicDetailsPositionTop, behavior: 'smooth'}); }">How do I complete the Customer Knowledge Assessment?
{ const topicDetailsPositionTop = $refs['anchor-answer-5'].getBoundingClientRect().top + window.scrollY - (window.innerWidth >= 420 ? 86: 62); window.scrollTo({top: topicDetailsPositionTop, behavior: 'smooth'}); }">How long is my Customer Knowledge Assessment valid for?
{ const topicDetailsPositionTop = $refs['anchor-answer-6'].getBoundingClientRect().top + window.scrollY - (window.innerWidth >= 420 ? 86: 62); window.scrollTo({top: topicDetailsPositionTop, behavior: 'smooth'}); }">My Customer Knowledge Assessment was unsuccessful. What does this mean for me?
{ const topicDetailsPositionTop = $refs['anchor-answer-7'].getBoundingClientRect().top + window.scrollY - (window.innerWidth >= 420 ? 86: 62); window.scrollTo({top: topicDetailsPositionTop, behavior: 'smooth'}); }">I use the MySinglife platform. Has anything changed with regard to Customer Knowledge Assessment?
{ const topicDetailsPositionTop = $refs['anchor-answer-8'].getBoundingClientRect().top + window.scrollY - (window.innerWidth >= 420 ? 86: 62); window.scrollTo({top: topicDetailsPositionTop, behavior: 'smooth'}); }">Are there any additional resources I can refer to?
What is Customer Knowledge Assessment?
Customer Knowledge Assessment is an exercise that ascertains a customer's financial knowledge and ability to understand the risks and features of Unlisted Specified Investment Products.
What is a Specified Investment Product?
Specified Investment Products (SIPs) refer to a category of complex financial products containing structures, features and risks that can be difficult for retail consumers to understand. There are two categories of SIPs – Listed and Unlisted.
Examples of Listed SIPs include:
Examples of Unlisted SIPs include:
Who is required to undergo the Customer Knowledge Assessment?
Customers who intend to purchase or trade Unlisted Specified Investment Products are required to undergo the Customer Knowledge Assessment to ensure that they understand and agree to the risks involved.
How is the Customer Knowledge Assessment conducted?
Customers will be required to answer a simple questionnaire and provide information about their knowledge and experience.
To qualify for the Customer Knowledge Assessment, customers need to satisfy one (1) of the following three (3) criteria:
1. Educational qualification – Diploma or higher qualification in any of the following fields:
2. Work experience – A minimum of three (3) continuous years of working experience1 in the preceding 10 years involving the following fields:
3. Investment experience – At least six (6) transactions in an Unlisted SIP in the preceding three (3) years
1 Provision of general support functions in the above-mentioned areas that are administrative or clerical in nature will not be considered as relevant experience
How do I complete the Customer Knowledge Assessment?
You may contact your financial adviser to request for a Customer Knowledge Assessment Form. The form will assess your educational qualifications, work and investment experience.
How long is my Customer Knowledge Assessment valid for?
Should you qualify, the results of your Customer Knowledge Assessment will be valid for one (1) year from the date of assessment.
My Customer Knowledge Assessment was unsuccessful. What does this mean for me?
An unsuccessful Customer Knowledge Assessment does not prevent you from transacting in Unlisted Specified Investment Products. However, you will need to consult your financial adviser on how to purchase or trade Unlisted SIPs in a manner that suits your financial needs and risk appetite.
I use the MySinglife platform. Has anything changed with regard to Customer Knowledge Assessment?
We have updated our web portal to capture the outcome of your Customer Knowledge Assessment (CKA). This will occur when you approve any online transactions created by your financial adviser representative.
During the online transaction, your adviser will be able to capture, and you will be able to acknowledge the outcome of the CKA form.
Are there any additional resources I can refer to?
Click here for more details.
This webpage is published for information only and Singapore Life Ltd. accepts no liability whatsoever with respect to its use or its contents.
The information contained here is accurate as at 16 Aug 2022.