FIMM FCE study guide
FIMM FCE · Work through your exam, one topic at a time.
The FIMM FCE (FIMM Financial Counselling Examination) is an examination administered within the framework of the Federation of Investment Managers Malaysia (FIMM), the self-regulatory organisation that regulates the marketing and distribution of Unit Trust Schemes (UTS) and Private Retirement Schemes (PRS). FIMM describes itself as functioning in a dual capacity: as a self-regulatory organisation and as an industry representative advocating the development and growth of the UTS and PRS industry, and it states that it is responsible for enhancing the professional standards of UTS Consultants and PRS Consultants to safeguard investor interests and maintain public confidence. Candidates therefore typically sit the FCE as part of meeting the competence expectations attached to consultant registration and ongoing professional standards. Because the FCE sits inside FIMM's UTS and PRS world, the two syllabus halves weigh equally at 50% each: Unit Trust Schemes and Private Retirement Schemes. Topics on this exam: Unit Trust Schemes (UTS) and Private Retirement Schemes (PRS). The FIMM FCE study guide has 2 sections and about 754 words.
01Unit Trust Schemes (UTS)
The UTS domain tests how a Malaysian unit trust scheme is structured, valued, sold and disclosed. Expect questions on the roles of the management company and trustee, NAV and forward pricing, charges, and the conduct expected of a unit trust consultant (UTC) under the CMSA 2007 and SC guidelines. A unit trust scheme pools investors' money. The management company operates the scheme; the trustee holds scheme assets and safeguards unit holders.
361 words, about 2 min02Private Retirement Schemes (PRS)
The PRS domain tests the Malaysian voluntary retirement savings framework: how a PRS is established, who runs it, how contributions are allocated, when money can be withdrawn, and what a consultant may and may not promise. PRS supplements EPF; it is regulated by the SC under the CMSA 2007 and the Private Retirement Schemes Act 2012. A PRS is established by an SC-approved PRS provider and holds assets through a scheme trustee. Members contribute voluntarily; employers may contribute.
393 words, about 2 min