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Questions and Answers
Which organization is the lead training provider for private banking?
Who is the chairperson of the WMI Expert Panel for Products?
Which of the following banks is NOT represented in the Private Banking Industry Group?
What is the name of the examination related to the Client Advisor Competency Standards (CACS)?
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Who is the Chief Editor of the WMI?
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Which organization supported the WMI in its appointment as the lead training provider for private banking?
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What is the main purpose of the Private Banking Code of Conduct in Singapore?
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Who are termed 'Covered Entities' within the Private Banking Code of Conduct?
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What is the role of the 'Covered Persons' in the Private Banking Code of Conduct?
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What is the relation between the IBF Certification Programmes and MAS' Industry Transformation Map for financial services?
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What is the encouragement to candidates who have passed the CACS Assessment?
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How can one obtain a copy of the Private Banking Code of Conduct?
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When was the CACS Assessment introduced?
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What is the primary purpose of the CACS Assessment?
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What is the format of the CACS Assessment?
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What is the minimum requirement to pass the CACS Assessment?
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What is the primary resource for candidates preparing for the CACS Assessment?
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How many chapters are there in the Study Guide for the CACS Assessment?
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Study Notes
Acknowledgements
- IBF expresses gratitude to Wealth Management Institute (WMI), Nanyang Technological University Singapore, and individuals for their contributions to the revision of the Study Guide and Examination for the Client Advisor Competency Standards (CACS) Paper 2.
- Contributors include representatives from various banks, such as DBS Bank, HSBC Private Bank, UBS AG Singapore, and more.
Client Advisor Competency Standards (CACS) Assessment
- The Private Banking Code of Conduct (PB Code) was launched in 2011 to foster professional standards, enhance transparency, and confidence in the private banking industry in Singapore.
- The PB Code sets standards of good practice on competency and market conduct expected of financial institutions and their staff operating in Singapore.
- Covered Entities are financial institutions, and Covered Persons are client-facing staff who provide financial advisory services to high net worth clients.
CACS Assessment Details
- The CACS Assessment was introduced on 1 September 2011 to broaden and deepen the capabilities of professionals in providing comprehensive private banking services.
- The assessment consists of multiple-choice questions, testing concepts and computations.
- The CACS Assessment is organized into two papers: Paper 1 - Legislations, Regulations and Industry Codes of Practice, and Paper 2 - Industry and Product Knowledge.
- Candidates must pass both papers to be deemed to have passed the CACS Assessment.
Study Guide Organisation
- The Study Guide consists of 10 chapters, each devoted to a specific area of investment products offered to private banking clients.
- Each chapter begins with learning objectives, followed by a chapter introduction, providing an overview of the chapter.
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Description
Test your knowledge of the Wealth Management Industry and Product Knowledge, as outlined in the Client Advisor Competency Standards (CACS) Paper 2. This quiz covers topics related to private banking, wealth management, and product knowledge. Assess your understanding of the industry and its products.
