Loading…
CMFASPrepStudyingRES5
Switch exam
Financial advisory
RES5Financial Advisory Services✓A financial adviser completed a customer's last transaction on 1 April 2021 and terminated the business relationship on 1 April 2023. Ignoring any specific request or order from STRO, the record of that transaction may be destroyed no earlier than:
Transaction records must be retained for at least 5 years following completion of the transaction. Completion was 1 April 2021, so the minimum retention runs to 1 April 2026. (The termination date drives CDD/account records, not the transaction record.)
For a transaction record the 5 years runs from completion of the transaction (1 Apr 2021), not from termination of the relationship.
Practise more RES5 AML / CFT questions
Exam-style questions with worked answers, then full timed mocks. Free to start.
Build a daily practice habit — a few exam-style questions a day, with worked answers. Free to start.
Start practising →Original study material mapped to the public CMFAS RES5 syllabus. Unofficial, not endorsed by MAS or SCI. Verify figures and rules against current guidance before relying on them.