Investment products vary in risk and complexity. To protect your interests as an investor, we need to know if you have the relevant knowledge or experience to understand the features and risks associated with Specified Investment Products (SIPs) before recommending or selling them to you.
In our assessment, we look at your educational qualifications, work experience, and investment experience.
Yes. Our knowledge and experience assessment combines the Customer Account Review (CAR) and Customer Knowledge Assessment (CKA).
Before you can trade in Specified Investment Products (SIPs), you need to go through:
With a simplified assessment, you don’t have to take the CKA and CAR separately.
Yes. CKA and CAR outcomes are not transferrable. We need to make our own assessment of your knowledge and experience before selling SIPs to you.
Typically, the validity of the assessments are as follows:
CKA—1 year from assessment date
CAR—3 years from assessment date
However, as our assessment combines the CKA and CAR, you’ll need to take it annually.
You should meet at least 1 of these 3 criteria in order to buy or trade SIPs: 1. Educational Qualification
Have a diploma or higher qualification in one of these fields:
2. Work Experience Have a minimum of 3 consecutive years of working experience (including the provision of legal advice or possession of legal expertise) in the past 10 years, in:
Note: Support functions in the areas mentioned above that are administrative or clerical in nature are not considered relevant experience. 3. Investment or Trading Experience
The Monetary Authority of Singapore (MAS) classifies certain products as Specified Investment Products (SIPs). These are generally financial products which contain derivatives. They tend to be more complex in their product structure, features and risks, and are not as widely understood by retail investors.
Some SIPs are listed on an exchange, and you can trade them with your brokerage account. There are also unlisted SIPs, which are available directly from financial institutions.
We’ve grouped SIPs by product categories:
Group
Product Category
Examples
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