Loading…
CMFASPrepStudyingRES5
Switch exam
Financial advisory
RES5Financial Advisory Services✓Paragraph 16 of MAS Notice FAA-N03 requires a financial adviser to disclose in writing all remuneration (commission, fee and other benefits) directly related to a recommendation or to executing a purchase or sale. According to that paragraph, which remuneration is it NOT required to disclose?
Paragraph 16 states the adviser must disclose all remuneration directly related to the recommendation or execution, but it is NOT required to disclose remuneration received in respect of any other activity unrelated to its provision of financial advisory services. Commissions, trailer/soft-dollar benefits and advice fees are all separately required to be disclosed under paragraphs 16 to 19.
Trailer and soft-dollar benefits must be disclosed (para 19); only remuneration unrelated to financial advisory services is carved out.
Practise more RES5 Conflicts, Fair Dealing & Ethical Marketing 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.