Shariah RFP M3 study guide
Shariah RFP M3 · Work through your exam, one topic at a time.
The Shariah Registered Financial Planner (Shariah RFP) is a professional financial planning qualification offered by the Malaysian Financial Planning Council (MFPC), which describes itself as an independent body dedicated to advancing the financial planning profession through best practice standards and a Code of Ethics for RFP and Shariah RFP designees. It sits alongside the conventional RFP but is built for advisers, planners and product specialists whose advice must survive both commercial and Shariah scrutiny: sukuk and Shariah-compliant equities, takaful, Islamic deposits, and zakat-aware planning. The Shariah RFP M3 study guide has 6 sections and about 1,941 words.
01Shariah Investment Principles and Regulatory Framework
This domain tests the doctrinal foundation of Shariah investing - the prohibitions, the contracts that replace conventional structures, and the governance system that polices them. Questions usually ask you to link a rule to a product or to identify which authority decides a Shariah issue.
354 words, about 2 min02Shariah-Compliant Asset Classes and Screening
This domain tests whether you know the investable universe and can apply both stages of screening. Expect questions on sukuk structures, Islamic REITs, money-market instruments and the arithmetic of purification.
365 words, about 2 min03Portfolio Construction
This domain tests how you build a portfolio when the opportunity set is restricted - choosing asset allocation, substituting sukuk for bonds, selecting a benchmark and handling rebalancing without breaching contract rules. No conventional bonds, no interest-bearing margin or leverage, no short selling, and no sale of assets not owned (bay' ma la yamlik).
330 words, about 2 min04Risk and Performance Assessment
This domain tests whether you can identify the risks that are specific to Shariah portfolios and measure returns on the correct, after-purification basis. Market, credit and liquidity risk apply as in any portfolio, but sukuk liquidity can be thinner.
303 words, about 2 min05Client Profiling
This domain tests whether your know-your-client process captures Shariah preferences with the same rigour as risk tolerance and capacity for loss. Degree of Shariah compliance : strict avoidance of riba versus acceptance of screened mixed companies with purification.
305 words, about 2 min06Investment Advice and Documentation under Shariah Constraints
This domain tests the advice process and the paper trail: suitability, disclosure of structure and fees, risk warnings, purification and zakat treatment. Suitability rationale linking the recommendation to the client's Shariah profile, horizon, liquidity and risk capacity.
284 words, about 1 min