CMFAS M9A Structured ILPs question: insurer provide the Semi-Annual Report and the Relevant Audit Report after the period

CMFAS M9AStructured ILPs

For each structured ILP sub-fund, within what timeframes must the insurer provide the Semi-Annual Report and the Relevant Audit Report after the period to which they relate?

A Both reports within one month after the period ends
B Semi-Annual Report within two months; Relevant Audit Report within three months
C The Semi-Annual Report within three months and the Audit Report within two months
D Both reports within six months after the period ends

Show the answer and explanation

Answer: B. Semi-Annual Report within two months; Relevant Audit Report within three months

The insurer must provide the Semi-Annual Report within two months, and the Relevant Audit Report within three months, from the last date of the period covered. These reports may be omitted for a newly launched fund or one about to terminate/mature.

Common mistake

The two windows differ (2 vs 3 months) and apply in that specific order — do not swap them.

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Related CMFAS M9A questions

Under the CIS Code investment guidelines applied to a retail structured ILP sub-fund, exposure to a single entity is generally capped at 10% of the fund's NAV. This cap is tightened to 5% when A structured ILP is marketed to 'seek to provide' annual payouts and repay capital at maturity. How does this differ from an ordinary bond?A retail structured ILP sub-fund enters an over-the-counter (OTC) derivative directly with a financial institution instead of through an exchange clearing house. Under the CIS Code, what counterparty-exposure treatment applies?

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Original study material mapped to the public CMFAS M9A syllabus. Unofficial, not endorsed by MAS or SCI. Verify figures and rules against current guidance before relying on them.