Singapore
China
Hong Kong
India
Malaysia
Sri Lanka
TaiwanFor Individuals
For Businesses
Customer Care
Customer Knowledge Assessment
The Monetary Authority of Singapore (MAS) requires all financial institutions to assess customers on their relevant knowledge or experience in investing before allowing them to purchase Specified Investment Products (SIPs) independently.
To safeguard the interest of customers, especially for those who may not have the relevant knowledge or experience in purchasing or trading SIPs, but wish to, the Customer Knowledge Assessment (CKA) has been implemented. This assessment is effective from 1 January 2012, and may be conducted by our Aviva Advisors, or your preferred financial adviser.
Upon completion of the CKA, you will be informed of your CKA outcome. In your subsequent online transactions with us on Aviva Online, you will be prompted to acknowledge your CKA outcome or status as part of the process to complete any transaction.
For more details on the CKA, you may wish to speak to our Aviva Advisors, or your preferred financial adviser. Alternatively, you can read some of our FAQs below:
FAQs
A: Customer Knowledge Assessment (CKA) is an assessment to ascertain a retail customer's financial knowledge and experience to understand the risks and features of unlisted Specified Investment Products (SIPs) prior to any purchases.
A: Specified Investment Products (SIPs) are financial products that may not be as widely understood by retail investors. This is because these products have structures, features and risks that may be more complex in nature. There are two categories, listed and unlisted.
Examples of the unlisted SIPs relevant to Navigator and Aviva are:
• Collective Investment Scheme (commonly known as "unit trusts")
• Investment Link Product ("ILP")
Examples of the unlisted SIPs relevant to Navigator and Aviva are:
• Collective Investment Scheme (commonly known as "unit trusts")
• Investment Link Product ("ILP")
A: Customers who intend to purchase or trade unlisted SIPs are required to undergo CKA.
A: Customers are required to answer a simple questionnaire and provide factual information of themselves in the following areas:
• Educational qualification - Diploma or higher qualifications in one of the following fields:
Accountancy, Actuarial Science, Business / Business Admin, Capital Markets, Commerce, Economics, Finance, Financial Engineering, Financial Planning, Computational Finance, Insurance or possess any other professional finance-related qualifications.
• Work experience – A minimum of 3 continuous years of working experience* in the preceding 10 years involving the following fields:
- Development / Structuring / Management / Sale / Trading / Research / Analysis of Investment Products
- Provision of training on Investment Products, Accountancy, Actuarial Science, Treasury, Financial Risk Management and Legal work in related financial areas
* Provision of general support functions in the above mentioned areas that are administrative or clerical in nature will not be considered as relevant experience.
• Investment experience - At least 6 transactions in an Unlisted SIP in the preceding 3 years.
To qualify for the CKA, you only need to satisfy ONE (1) out of the above 3 criteria.
For more details, please refer to MAS publication - Regulatory Regime for Listed and Unlisted Investment Products.
• Educational qualification - Diploma or higher qualifications in one of the following fields:
Accountancy, Actuarial Science, Business / Business Admin, Capital Markets, Commerce, Economics, Finance, Financial Engineering, Financial Planning, Computational Finance, Insurance or possess any other professional finance-related qualifications.
• Work experience – A minimum of 3 continuous years of working experience* in the preceding 10 years involving the following fields:
- Development / Structuring / Management / Sale / Trading / Research / Analysis of Investment Products
- Provision of training on Investment Products, Accountancy, Actuarial Science, Treasury, Financial Risk Management and Legal work in related financial areas
* Provision of general support functions in the above mentioned areas that are administrative or clerical in nature will not be considered as relevant experience.
• Investment experience - At least 6 transactions in an Unlisted SIP in the preceding 3 years.
To qualify for the CKA, you only need to satisfy ONE (1) out of the above 3 criteria.
For more details, please refer to MAS publication - Regulatory Regime for Listed and Unlisted Investment Products.
A: Please contact your financial adviser who will be able to provide you with the necessary CKA form for completion and acknowledgement.
The CKA form will:
(1) Assess your educational qualification, work experience and investment experience and;
(2) Provide you with your CKA outcome.
The CKA form will:
(1) Assess your educational qualification, work experience and investment experience and;
(2) Provide you with your CKA outcome.
A: The positive outcome of your CKA is valid for one (1) year from the date of assessment.
A: Please contact your financial adviser. They will be able to guide you through the steps required for you to purchase or trade unlisted SIPs.
Failing the CKA does not prevent you transacting in unlisted SIPs. You will, however, be required to seek advice from your financial adviser with the outcome of purchasing products that are suitable for your financial needs/risks.
Failing the CKA does not prevent you transacting in unlisted SIPs. You will, however, be required to seek advice from your financial adviser with the outcome of purchasing products that are suitable for your financial needs/risks.
A: We have updated the web portal to capture your CKA outcome when you approve transactions created by your financial adviser online.
During the online transaction, your adviser will be able to capture, and you will be able to acknowledge, the "CKA outcome" from the CKA form.
During the online transaction, your adviser will be able to capture, and you will be able to acknowledge, the "CKA outcome" from the CKA form.
A: You may wish to refer to the following resources for more details.
MAS Press Release on CKA
MAS Quick Guide for Consumers
MAS Securities & Futures Act (Cap. 289)
MAS Press Release on CKA
MAS Quick Guide for Consumers
MAS Securities & Futures Act (Cap. 289)