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Financial advisory
RES5Financial Advisory Services✓A retail customer fails the Customer Knowledge Assessment but insists on buying a structured OTC derivative. The licensee may proceed only if:
Notice SFA 04-N12 lets a customer who lacks knowledge or experience proceed only with the enhanced safeguards: advice, or documented acknowledgement of the risks, with senior management approval and communication of the outcome to the customer.
Failing CKA is not a bar; it triggers extra safeguards, not a bypass.
Practise more RES 2B OTC Derivatives: Reporting, Clearing, Margin & Trading Rules questions
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Start practising →Original study material mapped to the public CMFAS RES 2B syllabus. Unofficial, not endorsed by MAS or IBF. Verify figures and rules against current guidance before relying on them.