CMFAS HI Regulations & Financial Needs Analysis question: specifically expects the intermediary to record

CMFAS HIRegulations & Financial Needs Analysis

Within the client's 'objectives' captured for Know-Your-Client, Notice 120 specifically expects the intermediary to record:

A The event protected against, whether a lump sum or periodic benefit is sought, and the hospital ward class
B The client's preferred insurer brand, and whether he wants to buy through a bank or an agent
C The client's investment risk profile and preferred fund choices for his CPF savings
D The amount of commission rebate the client expects the representative to give up

Show the answer and explanation

Answer: A. The event protected against, whether a lump sum or periodic benefit is sought, and the hospital ward class

KYC objectives include the event the client wants protection against, whether a lump-sum or periodic benefit is sought, and the class of hospital ward — recorded alongside employment, financial situation, existing cover and medical conditions.

Common mistake

'Objectives' are protection-specific (event, benefit form, ward class) — not brand or channel preferences, investment profiles or commission rebates.

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Original study material mapped to the public CMFAS HI syllabus. Unofficial, not endorsed by MAS or SCI. Verify figures and rules against current guidance before relying on them.