RFP Module 4 study guide
RFP Module 4 · Work through your exam, one topic at a time.
The Registered Financial Planner (RFP) is a professional financial planning designation awarded by the Malaysian Financial Planning Council (MFPC), an independent self-regulatory body. The programme was launched in November 2002 by the then Governor of Bank Negara Malaysia, and the designation has since been approved by Bank Negara Malaysia (March 2005) as a qualification for applying for the Financial Advisers' Licence and Financial Advisers' Representative Licence under the Insurance Act 1996, and by the Securities Commission Malaysia (November 2005) as a qualification for the Investment Advisers Licence, with later approval for the Capital Markets Services Licence (CMSL) under the Capital Markets and Services Act 2007. The RFP Module 4 study guide has 7 sections and about 2,445 words.
01Fundamentals of Financial Planning: Process, Statements, TVM and Ratios
This domain supplies the vocabulary and mechanics the other six domains assume: the planning process, personal financial statements, time value of money, ratio diagnostics, and the professional framework (MFPC Code of Ethics, CMSA 2007, SIDC licensing, BNM for insurance/takaful). Questions are usually applied, not definitional.
367 words, about 2 min02Risk Management and Insurance Planning: Principles, Needs Analysis and Takaful
Risk identification and treatment, the legal principles of insurance, life and health product structures, family and general takaful, needs-based sum assured calculation, underwriting and nomination. Expect calculation plus product-fit questions.
350 words, about 2 min03Investment Planning: Portfolio Theory, Vehicles and Performance Measurement
Risk profiling, asset allocation, diversification maths, CAPM and risk-adjusted performance measures, plus Malaysian vehicles: unit trusts, ETFs, REITs, sukuk, PRS and EPF withdrawals for investment. Portfolio expected return is the weighted average of component returns; portfolio standard deviation is not, because it also depends on correlation.
324 words, about 2 min04Zakat and Tax Planning: Nisab, Haul, Reliefs and Rebates
Zakat computation (wealth, income, business, gold, savings, fitrah) and Malaysian personal income tax mechanics: reliefs, the progressive rate scale, and how zakat interacts with tax. Zakat is a state matter, so rules vary by state fatwa; the exam expects the common framework.
353 words, about 2 min05Estate Planning: Intestacy, Wills, Wasiat, Faraid and Nomination
How assets pass at death, the tools that control that transfer, and the liquidity and administrative consequences. Malaysian content dominates: the Distribution Act 1958 for non-Muslims in Peninsular Malaysia and Sarawak, the Wills Act, wasiat and faraid for Muslims, and nomination under the EPF Act and insurance law.
382 words, about 2 min06Retirement Planning: EPF, PRS, Replacement Ratio and Funding Gaps
Accumulating and decumulating retirement capital: EPF mechanics, PRS, replacement ratios, inflation and longevity risk, and quantification of the funding gap. EPF: employee contributes 11% of wages, employer 12% (13% for wages at or below RM5,000).
323 words, about 2 min07Applications in Financial Planning: Integrating the Six Domains in a Live Case
Case-based integration. You are given a client fact pattern and must prioritise across protection, investment, zakat and tax, retirement and estate, applying the process and ethics rather than reciting products.
346 words, about 2 min