Awarded by the Singapore College of Insurance under licence from The American College
2019
N u r t u r i n g A s i a ’ s B e s t
®ChFC /SCHARTERED FINANCIAL CONSULTANT ®
For funding details, please refer to page 5 inside.
This self-study programme has been accredited by The Institute of Banking and Finance (IBF) under the IBF Standards
CompreheNsive,Applied
ChFC01: Financial Planning: Process and Environment
ChFC02: Risk Management, Insurance and Retirement Planning
ChFC03: Tax, Estate Planning and Legal Aspects of Financial Planning
ChFC04: Investments
ChFC05: Plan Construction, Practice Standards and Ethics
ChFC06: Planning for Business Owners and Professionals
ChFC07: Wealth Management and Financial Planning
ChFC08: Financial Planning Applications
ChFC09: Ethics For The Financial Services Professional
Upon passing ChFC01, candidates can apply for the Associate Financial
Consultant (AFC) designation directly with IFPAS, subject to any terms
and conditions as specified by IFPAS.
Upon successful completion of the examination modules within the
specified time frame, candidates will be eligible to use the certification
designation of ChFC®/S, subject to other qualifying requirements being
met, including experience and ethics requirements.
Module titles for ChFC®/S, a Designation awarded by Singapore
College of Insurance (SCI), under licence from The American College
leArNiNg outComes
By the end of the 9 modules, candidates will be able to :
• Developknowledgeintheprocess,toolsandconceptsoffinancial
planning and investments.
• Useasystematicapproachtoriskmanagement,insuranceand
retirement planning.
• Applythebasictaxconceptsandskillstodealwithindividualincome,
expenses and allowances.
• Learnthevarioustypesofestateplanningtools,suchaswills,trusts,
powers of attorney and life insurance.
• Understandthemajortypesofinvestmentsandriskprofiles.
• Learntheessentialskillstoformulateasoundfinancialplantomeet
clients’ objectives and conform to ethical standards and practices.
• Gaininsightsontheimportanceofbusinesssuccessionplanningand
buy-sell agreements.
• Learnwealthmanagementstrategiestobettermanageclients’risks
and assets.
• Developtheabilitytodesign,constructandpresentafinancialplan,
and make recommendations to clients, as well as function as an ethical
and competent practitioner in the field of financial planning.
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progression pathway towards Clu®/s
After obtaining the ChFC®/S designation, candidates can proceed to
take CLUS01: Individual Life Insurance, CLUS03: Life Insurance Law,
CLUS04:LifeInsuranceCompanyOperations,CLUS08:GroupBenefits
and Health Insurance, to obtain their CLU®/S designation, also awarded
by SCI, under licence from The American College.
Who should enrol in the ChFC®/s designation? • FinancialPlanners/LifeInsuranceAdvisers;
• RelationshipManagers;
• BancassuranceStaff;and
• Other insurance professionals whose job responsibilities require in-depth knowledge
of financial planning principles, practices and products, and those wishing to obtain a
professional financial planning qualification for their career advancement.
entry requirementsCandidates who register for the ChFC®/S programme must have passed the following examinations:
• CMFASModule5;
• CMFASModule8orModule9;and
• SCIHealthInsurance.
tutorial supportFor face-to-face tutorial support, please approach IFPAS.
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examination details
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Examination / Assessment Format & Structure
Module Examination Duration
Examination Format Total Marks/Grade Allocated
Pass Requirement
Financial Planning: Process and Environment(ChFC01 )
2 Hours 100 Multiple-Choice Questions
100 Marks 70% Pass Mark
Risk Management, Insurance and RetirementPlanning (ChFC02)
2 Hours 100 Multiple-Choice Questions
100 Marks 70% Pass Mark
Tax, Estate Planning and Legal Aspects of FinancialPlanning (ChFC03)
2 Hours 100 Multiple-Choice Questions
100 Marks 70% Pass Mark
Investments (ChFC04) 2 Hours 100 Multiple-Choice Questions
100 Marks 70% Pass Mark
Plan Construction, Practice Standards and Ethics(ChFC05)
2 Hours 70 Multiple-Choice Questions (case-based) 70 Marks
70% Pass Mark
Planning for Business Owners and Professionals(ChFC06)
2 Hours 100 Multiple-Choice Questions
100 Marks 70% Pass Mark
Wealth Management and Financial Planning(ChFC07)
2 Hours 100 Multiple-Choice Questions
100 Marks 70% Pass Mark
Financial Planning Applications– Practicum Assessment (ChFC08)
1 Hour One-on-one Presentation of Financial Plan to the Assessor
Only “Competent” or“Not-Yet-Competent”
To be assessed as “Competent”
Financial Planning Applications– Case Studies (ChFC08)*
3 Hours 2 Case Studies (6 Short Essay Questionseach)
150 Marks 70% Pass Mark
Ethics for the Financial Services Professional(ChFC09)
1 Hour 30 Multiple-Choice Questions
30 Marks 80% Pass Mark
*For the examination, the candidate is only permitted to bring in a financial plan and ONE piece
of A4-size crib sheet. No other materials are allowed.
2019 examination syllabusPlease refer to the SCI Website at: https://www.scicollege.org.sg/docs/chfc_course_schedule.pdf
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examination scheduleThe examinations for ChFC01 to ChFC07 are conducted weekly.
For the examination/assessment schedule for ChFC08 & ChFC09, please refer to page 6.
The examinations for ChFC09 are conducted monthly.
For the detailed Examination Schedule, please refer to the SCI Website at: https://www.scicollege.org.sg/examschedule.asp?ChFCN
Note: A one-time non-refundable registration fee of S$32.10 (inclusive of 7% GST) is applicable at the time of first admission into the programme.
Fee For Self-Study* (All fees are inclusive of 7% GST)
Fee Per Module: ChFC01 To ChFC07 (Self-Study)
First Attempt (With Study Text)
Each Subsequent Attempt (Without Study Text)
Member Company S$385.20 S$107.00
Non-Member Company S$423.72 S$117.70
Fee For Module ChFC08 (Compulsory Tutorial)
First Attempt (With Study Text and inclusive of the 14-hour Compulsory Tutorial, one Examination Sitting, Practicum and Case Studies)
Each Subsequent Attempt (Without Study Text)
Member Company S$695.50 S$160.50 (Practicum)S$80.25 (Case Studies)
Non-Member Company S$765.05 S$176.55 (Practicum)S$88.28 (Case Studies)
Fee For Module ChFC09 (Compulsory Tutorial)
First Attempt (With Study Text and inclusive of the 2-hour Compulsory Tutorial and one Examination Sitting)
Each Subsequent Attempt (Without Study Text)
Member Company S$128.40 S$80.25
Non-Member Company S$141.24 S$88.28
* SCI offers only a self-study option for ChFC01 to ChFC07. Those who pay the examination fee of S$385.20
(inclusiveof7%GST)formembercompanyorS$423.72(inclusiveof7%GST)fornon-membercompany
will get a Study Text and one examination sitting for the module registered. Funding is available for first
attempt candidates. Please refer to page 5 for more details. For ChFC08 and ChFC09, candidates must
attend a 14-hour and 2-hour tutorials respectively, conducted by SCI.
examination Fees(valid for 2019)
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ChFC01 to ChFC07 (self-study)- Funded under iBF standards training scheme (iBF-sts)With effect from 3 May 2018, the examination component for ChFC01 to ChFC07 has been accredited under the IBF Standards, and is eligible for funding under the IBF-STS, subject to all eligibility criteria being met. Candidates are advised to assess the suitability of the examination module and its relevance to candidates’ business activities or job roles.
• For Singapore Citizens or Permanent Residents IBF-STS provides 70% funding for direct training costs subject to a cap of S$7,000 per candidate per programme
subject to all eligibility criteria being met.
• For Singapore Citizens For all IBF-STS programmes commencing on or after 1 July 2016, Singapore Citizens aged 40 years old and
above will be eligible for 90% co-funding of direct training costs, subject to existing grant caps of S$7,000 per programme.
The above funding scheme is eligible for company-sponsored or non-company-sponsored participants, subject to all eligibility criteria being met. Candidates can only submit the claims upon passing the respective examinations. For more details, you may refer to the IBF Website via: www.ibf.org.sg
IBF-STS Claims Submission for Non-Company-Sponsored Track Claims for Non-Company-Sponsored participants of IBF-STS programmes shall be submitted by the IBF- STS accredited training provider within 3 months from the date of completion of the programme.
IBF-STS Claims Submission for Company-Sponsored Track Claims for IBF-STS programmes are to be compiled and submitted according to two half-yearly claim cycles, within three calendar months from the end of each qualifying period:
(i) Claim Cycle 1: 1st July to 30th September - For programmes completed from January to June of the same calendar year;and
(ii) Claim Cycle 2: 1st January to 31stMarch-ForprogrammescompletedfromJulytoDecemberofthepreviousyear.
Find out more on www.ibf.org.sg
ChFC08 - Funded under iBF standards training scheme (iBF-sts)With effect from 1 June 2018, ChFC08 - Financial Planning Applications has been accredited under the IBF Standards and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met. Available for a period, this funding is applicable only for the first assessment attempt and candidates may be self or company-sponsored.
ChFC09 - Funded under iBF standards training scheme (iBF-sts) With effect from 13 July 2018, ChFC09 - Ethics for the Financial Services Professional has been accredited under the IBF Standards and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met. Available for a period, this funding is applicable only for the first assessment attempt and candidates may be self or company-sponsored.
Funding (applicable only for first examination attempt)
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Compulsory 14-hour & 2-hour tutorial schedule for ChFC08 & ChFC09Note: ChFC08 and ChFC09 should be registered in the same intake
2019 Schedulefor ChFC08 & ChFC09
1st Intake 2nd Intake 3rd Intake 4th Intake
Class 1 11 & 12 Feb 2019 3 & 4 Apr 2019 3 & 4 Jul 2019 2 & 3 Oct 2019
Class 2 14 & 15 Feb 2019 8 & 9 Apr 2019 8 & 9 Jul 2019 -
Submission of Financial Plan 8 Mar 2019 30 Apr 2019 30 Jul 2019 24 Oct 2019
Assessment Period 18 - 21 Mar 2019 13 - 17 May 2019 13 - 16 Aug 2019 4 - 8 Nov 2019
ChFC08 Case Study Written Assessment
10 Apr 2019 6 Jun 2019 4 Sep 2019 20 Nov 2019
Release of Results for ChFC08 Case Study Written Assessment by Ordinary Mail
10 May 2019 5 Jul 2019 4 Oct 2019 20 Dec 2019
ChFC09 Examination (CSE) 17 Apr 2019 13 Jun 2019 11 Sep 2019 27 Nov 2019
Cpd hours Awarded• ChFC01toChFC07:2CPDhourspermodulefortherelevantexaminationpassed.
• ChFC08: 14 CPD hours and an additional 4 CPD hours for the relevant examination passed
(inclusiveof1GeneralInsuranceCPDhour).
• ChFC09:2CPDhoursandanadditional1CPDhourfortheexaminationpassed.
ChFC®/s goiNg FArBeyoNdthe BAsiCs
examination policies
Registration Policy
Registrations should be made online at https://www.scicollege.org.sg. Before registering, candidates
should refer to the “For Whom” and “Entry Requirement” section of the respective Programmes, to
ensure that they meet the recommended experience and programme prerequisites. A good command
of the English language is essential. SCI reserves the right to reject any candidates who does not
meet the minimum entry requirements.
Refund Policy
* All examination fees are strictly non-refundable. No substitution is allowed.
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AbsentonDayofExamination
Candidates will be graded ABSENT if they do not attend the examination on the examination date
No refunds will be given.
If the candidate is absent from the examination owing to the following valid reasons:
• Medicalgrounds(self);
• Bereavementcases(immediatefamilymember);
• Disablingaccidentorinjury(self);
• Courtappearance(self);or
• NationalService(self)inaccordancewiththeEnlistmentAct(Chapter93);
The candidate may apply for his examination entry to be rescheduled to the next examination series
bycompletinganonline“AbsentOnTheDayOfExaminationForChFC®/S and CLU®/S Programme”
Form(s) at SCI Website at: https://www.scicollege.org.sg within three working days of the examination
that the candidate was absent from due to valid reasons as above. Supporting documents will have to
beuploadeduponsubmissionofthe“AbsentOnTheDayOFExaminationForChFC®/S and CLU®/S
Programme” Form(s). No other reasons will be entertained.
Rescheduling PolicyThe candidate may apply for his examination entry to be rescheduled to the next examination series,
bypayingafeeofS$53.50(inclusiveof7%GST)permoduleforreschedulingnoticegivenat least7
working days before the examination date.
Should there be a change in the study text edition, the candidate is required to pay the difference
between the first-timer and re-taker examination fee.
No rescheduling will be allowed for notice of less than 7 working days from the examination date.
Should the candidate decide to reschedule to a later examination date, please note that the time bar
will remain as of the first registered examination date.
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Qualifying requirements for ChFC®/sTime Bar for CompletionCandidates are given 5 consecutive years (or 60 months) from the date of first registered
examination date to pass all the 9 modules. Should the candidate be absent or decide to transfer his
first registered examination date, to another date, the time bar will still start from the examination
date the candidate first registered to sit for. Modules passed or exempted exceeding 5 years (or 60
months) are considered outdated passes and will not count towards meeting the ChFC®/S qualifying
requirements. If the candidate does not complete all the modules within this time limit, the modules
previously passed or exempted will no longer be valid and the candidate will be required to retake
all the modules.
It is the candidate’s responsibility to monitor his own time bar for the examination completion of
the ChFC®/S programme. SCI will not send any notification to remind the candidate in this respect.
If there are any changes to the modules, SCI will make every effort to ensure that the candidate
is not disadvantaged by such changes. There will be a proper transitional arrangement for the
candidate.
Education RequirementThe candidate must pass the examinations/assessments and meet all other course requirements for
the 9 modules.
•SequenceofExaminationAttempts 1. Unless specifically exempted from the module, the candidate MUST FIRST register for ChFC01
and attempt the examination, before he is allowed to register for the other modules. This is to
ensure that the candidate possesses the requisite foundational knowledge, to be able to progress
in his studies for the ChFC®/S programme.
2. The candidate can subsequently attempt ChFC02 to ChFC07 in any sequence.
3. The candidate may attempt only ChFC08 and ChFC09 after he has passed (or has been exempted
from ChFC01 to ChFC07.
4. The candidate must take note that ChFC08 and ChFC09 comprise compulsory 14-hour and
2-hour tutorials which will be conducted by SCI four times a year. Hence, the candidate should
plan his study accordingly. Notwithstanding the lifting of the sequential requirements for
the intermediate modules, the candidate is strongly encouraged to attempt the ChFC®/S
examinations in sequential order as indicated.
•NumberofAttemptesAllowedThere is no limit on the number of attempts that a candidate can take to complete each module,
subject to the Examination Schedule and the maximum period for completion as specified.
Experience Requirement3 years of full-time business experience is required for the award of the ChFC®/S designation.
The 3-year period must be within the 5 years immediately preceding the date of the award. An
undergraduate or graduate degree from an accredited educational institution qualifies as one year of
business experience.
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Ethics RequirementTo comply with the high ethical standards expected of a Chartered Financial Consultant®/
Singapore, every holder of the ChFC®/S designation must sign a statement agreeing to be bound by
the ChFC®/S Code of Ethics.
SCI reserves the right to withdraw the ChFC®/S designation should any ChFC®/S holder be found
in violation of the ChFC®/S Code of Ethics.
ChFC®/s designationCandidates who successfully meet the education requirement and the necessary experience and
ethics requirements will be entitled to apply for the ChFC®/S designation awarded by SCI under
licence from The American College, with the word “Singapore”. This is because the studies are
based on Singapore laws. If the ChFC®/S holder wishes to practise in the US, he will need to take
the US equivalent papers for the ChFC/US title. The ChFC/S title is not transferable in this case.
Fordetailsonthe“GuidelinesForDesignationTrademarkUse.”pleasesreferto:
https://www.scicollege.org.sg/uploads/CHFCCLUGuidelines.pdf
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Continuing professional development (Cpd) requirement
To maintain the designation, the ChFC®/S holder is required to register a minimum of 30 hours of
CPD creditswith the SCI every 2 years. The CPD credits for each reporting periodmust comprise
educational activities in acceptable subject matter areas. The ChFC®/S holder must have independent
verification for the 30 CPD hours in the event of being audited. Independent verification should
consist of grade reports, attendance certificates, transcripts, or written confirmation of attendance
from the relevant organisation. Written confirmation should include the name, topics addressed, date
and duration of programme, as well as the signature of an authorised representative. Renewal of the
ChFC®/SdesignationissubjecttothefulfilmentoftherequiredCPDrequirement.
If the ChFC®/S holder did not fulfil this requirement, he will not be allowed to use the designation till
therequiredCPDhourshavebeenfulfilledaccordingly.
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the Commitment of a ChFC®/sChFC®/S designees are held to the following ethical pledge:
“In all my professional relationships, I pledge myself to the following rule of ethical conduct: I shall,
in light of all conditions surrounding those I serve, which I shall make every conscientious effort to
ascertain and understand, render that service which, in the same circumstances, I would apply to
myself.”
Applying for iBF level 2 Certification (ChFC®/s)
ABOUTIBFSTANDARDS
The IBF Standards are a set of competency standards for financial skills. These Standards are
developed in partnership with industry leaders and provide a professional development and skills
roadmap for financial sector practitioners to excel in their respective job roles. They currently cover
12 industry segments in the financial sector.
ABOUTIBFLEVEL2PROGRAMMES
A practitioner who successfully completes an IBF Level 2 Programme with at least 3 years of relevant
experience will be conferred the IBF Advanced (IBFA) certification status. Terms and Conditions
apply. Find out more about IBF certification and its benefits at: bit.ly/whybeibfcertified
®ChFC /SCHARTERED FINANCIAL CONSULTANT ®
Marketed by
The Premier Association for Financial Practitioners (Singapore)
Contact details
Singapore College of Insurance Limited
9 Temasek Boulevard #14-01/02/03
Suntec Tower Two, Singapore 038989
GeneralEnquiry:(+65)62212336
Fax:(+65)62206684
E-mail: [email protected]
Website: www.scicollege.org.sg
Singapore College of Insurance Limited
CPE Registration No.: 199408491M
Period of CPE Registration: From 26
September 2015 to 25 September 2019
Information presented on this marketing material is correct at the time of publishing. However, changes to the programme contents, dates, time, duration and venue can occur owing to unforeseen circumstances. Every effort will be made to inform all candidates of such changes on a timely basis.
Version 1: 12 October 2018