MPF Intermediaries Qualifying Exam case studies
MPF Intermediaries Qualifying Exam · Put your knowledge to work in context.
The MPF Intermediaries Qualifying Exam is the industry examination used in Hong Kong to demonstrate the competence required of individuals who sell, advise on, or service Mandatory Provident Fund (MPF) schemes. It is relevant to people seeking registration or licensing as MPF intermediaries - including responsible officers, technical representatives and sales staff working through banks, insurers, brokers and other approved channels - and to compliance, operations and training staff who need a working knowledge of the regime. The MPF Intermediaries Qualifying Exam case studies are 5 cases and about 3,774 words.
1Catering Employer with Daily-Paid Staff and a Below-Threshold Cleaner
Wing Hing Cha Chaan Teng is a Hong Kong restaurant with 22 staff. The owner, Mr Lau, uses a master trust scheme for full-time staff but has not enrolled anyone paid by the day, believing casual staff are outside the MPF system.
820 words, about 4 min2Job Change, a Small Account and Voluntary Contributions
Ms Chan, aged 45, has just resigned from Employer A after six years. Her accrued benefits in A's master trust scheme are HK 420,000: HK 60,000 from her own mandatory contributions, HK 300,000 from Employer A's mandatory contributions and HK 60,000 from voluntary contributions that are not tax-deductible voluntary contributions (TVC).
731 words, about 4 min3Terminal Illness, Redundancy and MPF Offsetting
Mr Wong, aged 52, is a logistics supervisor earning HK 24,000 a month. He is diagnosed with terminal cancer and his doctor certifies that the illness is likely to result in death within 12 months.
762 words, about 4 min4Default Investment Strategy Member and a 'Capital Guaranteed' Switch
Mrs Lee, aged 50, is a secondary school teacher with HK$1.5 million in her MPF account. She has never made an investment choice, so her savings are in the default investment strategy (DIS), split between the Core Accumulation Fund and the Age 65 Plus Fund.
722 words, about 4 min5Principal Intermediary's WhatsApp Sales Team and Deleted Records
Principal MPF intermediary Goodway Advisory has 15 subsidiary intermediaries (SIs). During a routine review, the compliance officer finds: (a) an SI who resigned four weeks ago still uses the firm's WhatsApp group to advise eight clients and has not returned his client files; (b) another SI onboarded three new clients through personal WhatsApp, did not complete risk-profiling questionnaires, and deleted the chat history after one client complained about a fund switch; (c) a sales manager promised a HK$500 cash 'rebate' to clients who transfer their MPF accounts to the firm's preferred scheme; (d) client records for 40 clients are stored in an SI's personal cloud account rather than the firm's system.
739 words, about 4 min