Loading…
CMFASPrepStudyingRES5
Switch exam
Financial advisory
RES5Financial Advisory Services✓A married client with two young children has an outstanding $400,000 home mortgage but only minimal life cover. He asks the representative to start an investment-linked policy for wealth accumulation. With a limited monthly budget, the representative should:
Where dependants exist, protection needs should be met first. An unprotected mortgage would burden the surviving family on the client's death, so the priority is to close the family income and liability-protection gap (e.g. term or mortgage decreasing term insurance) before wealth accumulation.
With young dependants and an unprotected large liability, protection ranks ahead of investment and retirement top-ups; splitting the budget equally ignores the priority of protection.
Practise more RES5 Advisory Process & Skills 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.