MPF Intermediaries Qualifying Exam study plan

Distinguish mandatory contributions from voluntary contributions and identify who is exempt, using the statutory definitions rather than memory of workplace practice.

Calculate a mandatory contribution for both an employee and a self-employed person across a full contribution period, including the minimum and maximum relevant income levels.

Map the roles of the Mandatory Provident Fund Schemes Authority, the trustee, the approved trustee, and the intermediary, and state which body issues which approval or registration.

Explain the offsetting interaction between MPF accrued benefits and severance or long service payment entitlements at a conceptual level.

Build a one-page timeline linking employer enrolment duties, contribution due dates, and the surcharge that applies to late contributions.

Apply the vesting rules to determine how much of an employer's voluntary contribution and its investment return an employee keeps on leaving at 6 months, 18 months, and 5 years.

Differentiate master trust schemes, employer-sponsored schemes, industry schemes, and pooled retirement schemes by sponsor, membership, and portability characteristics.

Identify the fund categories available inside a scheme (equity, bond, mixed asset, guaranteed, money market, MPF conservative fund) and state the defining feature of each.

Explain the statutory investment restrictions and prohibited investment classes that constrain constituent fund portfolios.

Describe the operation of a guaranteed fund, including the role of the guarantor and the conditions under which the guarantee is invoked.

Trace the preservation rules that apply to accrued benefits after employment ends and identify the only lawful routes for early release.

Explain the transfer mechanics for a statutory transfer, including who initiates it, what documentation is required, and the permitted timeframe.

List the grounds for early withdrawal on permanent departure from Hong Kong, total incapacity, terminal illness, and small balance, and state the evidence required for each.

Distinguish retirement withdrawal by lump sum, by instalments, and by periodic payments, and explain how a deferred annuity option changes the payout profile.

Describe how accrued benefits are handled on the death of a member, including who may claim and in what capacity.

Apply the suitability obligation step by step to a client scenario, from gathering information to justifying a recommendation in writing.

Distinguish the information that must be collected about a client's financial situation, investment knowledge, and risk tolerance from information that is merely useful.

Explain the disclosure duties owed to a client regarding remuneration, conflicts of interest, and the capacity in which the intermediary acts.

Identify when a transaction is unsolicited and what documentation and warning obligations follow from that status.

Explain the purpose and required content of the client agreement and the risk profile questionnaire, and identify common onboarding failures.

Classify a set of ten sales and marketing activities as permitted, restricted, or prohibited, citing the principle behind each classification.

Explain the rules governing cold calling, unsolicited approaches, and the use of client referrals in MPF sales.

Identify conduct that constitutes misrepresentation or misleading marketing, including exaggerated past performance claims and inappropriate comparisons.

Describe the limits on using gifts, incentives, and hospitality to influence a client's scheme or fund choice.

Explain the restrictions on handling client assets and the circumstances in which an intermediary may accept payment.

Apply the record-keeping requirements to a list of document types and state the retention period and format for each.

Describe the supervisory tools available to the regulator, including routine inspection, thematic review, and investigation, and what triggers each.

Explain the disciplinary sanctions available and the factors that aggravate or mitigate a sanction.

Outline the licensing and registration regime for principal intermediaries and subsidiary intermediaries, including fit and proper criteria.

Explain the complaint-handling process from client complaint to regulatory referral.

Decompose a constituent fund's total expense ratio into management fee, administrative costs, and other charges, and explain which components are disclosed where.

Compare two funds offering the same asset class using fee level, tracking approach, and risk profile, and justify a selection for a stated client.

Explain the purpose and mechanics of the fee comparison platform and the default investment strategy, including its two constituent funds and the automatic de-risking mechanism.

Identify the charge types an intermediary must disclose before a client transacts, and distinguish charges borne by the fund from charges borne by the member.

Explain how fund switching works and what the intermediary must tell a client about the cost and timing of a switch.

Complete two full-length timed mock examinations under exam conditions and record the score by domain.

Re-derive from memory the contribution calculation rules, the vesting scale, and the early withdrawal grounds without reference material.

Rewrite every missed question from the mock exams into a corrected statement of the rule, not just the right answer.

Drill the five weakest sub-topics identified by mock performance until each is answered correctly twice in a row.

Rehearse the suitability and disclosure sequence aloud until it can be delivered without notes in under three minutes.