What is the Customer Knowledge Assessment (CKA) for Retail Investors?

The Monetary Authority of Singapore requires financial institutions to assess the investment knowledge and experience of retail investors who wish to transact in Unlisted Specified Investment Products (SIPs). SIPs, such as certain unit trusts, are generally deemed to be more complex than other products. This CKA requirement is put in place by MAS to protect your interests. You are strongly encouraged to fulfill your CKA requirement.

You will be deemed to have satisfied CKA if you have any one of the following:

  1. Diploma or Higher qualification in related fields (e.g. Accountancy, Finance, Economics etc.)
  2. Finance-related professional qualifications (e.g. Chartered Financial Analyst, Certified Public Accountant etc.)
  3. Investment experience: Traded a total of at least 6 transactions in Unit Trusts / Mutual Funds over the preceding 3 years.
  4. Working experience: Minimum of 3 continuous years in the preceding 10 years of relevant working experience in Finance
  5. ABS-SAS e-Learning Module: Undergone and passed the ABS-SAS Unit Trusts and Investment-linked Insurance Products Module. You can assess the portal here.

How do I take the ABS-SAS e-Learning Portal for the Unit Trusts and Investment-linked Insurance Products Module?
Please click here to access the ABS-SAS e-Learning Portal, where you can select the Unit Trusts and Investment-linked Insurance Products Module. For new users, please register by completing the new user form and logging in using your email address.

Kindly note that you only have to take the module titled: Unit Trusts and Investment-Linked Insurance Policy. There will be an assessment conducted at the end when you have completed the Module.  There are no restrictions on the number of attempts required to pass the assessment. You will receive a Certificate upon completion of the module, which will be sent to your registered email address. You can upload the Certificate to your Endowus account then. 


Will I be allowed to make investments if I have not completed my Customer Knowledge Assessment (CKA)?

Yes, you may still make investments on the Endowus platform. However, you will be prompted to accept a risk disclosure agreement before your investment order is finalized. By accepting this risk disclosure, you are agreeing to invest at your own risk. Thus, we strongly encourage you to fulfill your CKA requirements.

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