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24 No.31514 GOVERNMENT GAZETTE, 15 OCTOBER 2008
BOARD NOTICE 105 OF 2008
FINANCIAL SERVICES BOARD
FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT, 2002 (ACT NO. 37 OF 2002) .
DETERMINATION OF QUALIFYING CRITERIA AND QUALIFICATIONS FOR FINANCIAL SERVICES PROVIDERS, 2008
I, DUBE PHINEAS TSHIDI, the Registrar of Financial Services Providers, after consultation with the Advisory Committee on Financial Services Providers, hereby under the definition of "qualifying criteria" in paragraph 1 (1) and paragraph 5 of the Determination of Fit and Proper Requirements for Financial Services Providers, 2008, determine the qualifying criteria and qualifications for financial services providers as set out in the Schedule.
aISHI'b1
DPTSHIDI Registrar of Financial Services Providers
STAATSKOERANT, 15 OKTOBER 2008 No.31514 25
SCHEDULE
DETERMINATION OF QUALIFYING CRITERIA AND QUALIFICATIONS FOR FINANCIAL SERVICES PROVIDERS~ 2008
PART I: PART II: PART III: PART IV: PART V:
PART Vi: PART VII:
DEFINITIONS QUALIFYING CRITERIA QUALIFICATIONS LIST OF APPROPRIATE SUBJECTS MAINTENANCE OF QUALIFYING CRITERIA AND QUALIFICATIONS LIST OF QUALIFYING CRITERIA AND QUALIFICATIONS MISCELLANEOUS
PART I: DEFINITIONS
1. In this Schedule:-
1 2 3 4
5 6 7
"the Act" means the Financial Advisory and Intermediary Services Act, 2002, including, unless the context indicates otherwise, any measure referred to in the definition of "this Act" in section 1 (1) of the Act; and
any word or expression to which a meaning has been assigned in the Act and in the Determination of Fit and Proper Requirements for Financial Services Providers, 2008, shall have that meaning, and, unless the context otherwise indicates -
lJaccredited training provider" means a provider of occupational learning programmes;
"entry level qualification" means a qualification obtained on or by the date of first appointment, and is normally at a lower level than the required full qualification;
"ful! qualifications" means a qualification that is appropriate to a specific category or subcategory of financial products;
"generic qualification" means a qualification that addresses knowledge, skills and competence that are broadly applicable to the financial services industry, without addressing any specific type of narrow specialisation relating to a specific subcategory;
"institutions of higher education" means institutions, whether public or private, that is accredited by the Council for Higher Education to provide learning programmes at the higher education level;
26 No. 31514 GOVERNMENT GAZETTE, 15 OCTOBER 2008
2
"learning" the acquisition of knowledge, understanding, values, skills, competence and/or experience through a range of formal and/or informal activities and/or processes aimed at achieving a specific learning objective.;
"professional programme and/or qualification" means a learning programme and/or qualification offered by a professional body (voluntary or statutory) for the purposes of providing specialised knowledge in a specific field of the financial services industry;
"specific qualification" means a qualification that addresses specific and/or specialised knowledge, skills and competence that is applicable to the financial services industry, and may address a specific type of specialisation and/or subcategory in the financial services industry;
PART II: QUALIFYING CRITERIA
2. (1) The purpose of the qualifying criteria is to provide the criteria against which the regulatory examinations will be set, and against which any proposed qualification(s) will be evaluated and considered for recognition by the Registrar.
(2)· The qualifying criteria applicable to the regulatory examinations are published in Annexure 1 of this Determination.
PART III: QUALIFICATIONS
3. (1) Qualifications will be approved based on the extent to which the qualification addresses the quaHfyingcriteria that had been approved and published by the Registrar.
(2) Applications for approval of a qualification must be submitted in the prescribed format as published by the Registrar, will be evaluated against the qualifying criteria for the applicable regulated function, category or subcategory, and will, upon approval, be added to the list of recognised qualifications.
(3) The following types of qualifications will be considered for recognition: (a) A qualification that is registered by SAQA; (b) an extracurricular specialist programme offered at a post
graduate level by an Institution of Higher Education; (c) an industry or professional programme offered through a
professional body recognised by the Registrar or an accredited provider; or
STAATSKOERANT, 15 OKTOBER 2008 No,31514 27
3
(d) a foreign qualification similar to qualifications in paragraph (a) to (c) above.
(4) Subject to the requirements of part V of the Determination of Fit and Proper Requirements for Financial Services Providers, 2008, qualifications will be approved in terms of the requirements in the case of-(a) "full qualifications", for category I purposes; (b) "entry level" qualifications, for category II, IIA and/or III; or (c) "full qualifications", for category II, IIA and/or III.
(5) The list of recognised qualifications will distinguish between the applicable recognition that is given to each qualification, and will indicate the following types of recognition:
(a) generic qualifications recognised for qualification purposes for sole proprietors, key individuals and/or representatives in category I FSPs, where the regulatory examinations at levels one and two are also required;
(b) generic qualifications recognised for entry level qualification purposes for sole proprietors, key individuals and/or representatives in category II, IIA and/or III FSPs, where the regulatory examinations at levels one and two are also required;
(c) generic qualifications recognised for entry level qualification and/or qualification requirement purposes for sole proprietors , key individuals and/or representatives in specific subcategories or category II, liP. and/or III FSPs, where the regulatory examinations at levels one and two are also required;
(d) specific qualifications recognised for entry level qualification and/or qualification requirement purposes for sole proprietors, key individuals and/or representatives in specific subcategories of category II, itA and/or III FSPs, where the regulatory examination at level one is not required;
(e) specific qualifications recognised for entry level qualification and/or qualification requirement purposes for sole proprietors, key individuals and/or representatives in specific subcategories of category II, IIA and/or III FSPs, where the regulatory examination at level two is not required;
(6) Generic qualifications must meet the following criteria:
(a) The quali'fication must be approved by the Registrar as a generic qualification for meeting the entry level qualification and/or qualification requirements in respect of category I, II, IIA and/or III;
(b) the generic qualification must be completed in full;
28 No. 31514 GOVERNMENT GAZETTE, 15 OCTOBER 2008
4
(c) the individual must have successfully completed a minimum of three different subjects or modules that appear in the appropriate subject list, as set out in paragraph 4 of this Determination: Provided that at Certificate and Diploma level, the qualification must contain at least three of these subjects with at least one of the subjects in the field of commerce, and where a certificate or diploma has major subjects, at least one must be a major subject (final year level); and
(d) at Degree level at least one of the subjects must be in the field of commerce and of the three subjects at least one must be a major subject (final year level}.
(7) With reference to the transitional requirements, as published in Part X of the Determination of Fit and Proper Requirements for Financial Services Providers, 2008, the specific qualifications must meet the following criteria:
(a) (i) the qualification was assessed against the qualifying criteria for a specific Category and/or subcategory; and
(ii) where the qualification contains a fundamental, core and elective component, the fundamental, core and elective component of the qualification corresponds with at least eighty percent (80%) of the qualifying criteria for the specific
. Category and/or subcategory; or (b) the qualification corresponds with at least eighty percent (80%) of
the qualifying criteria for the specific Category and/or subcategory.
(8) With reference to post-transitional requirements, as published in Part V of the Determination of Fit and Proper Requirements for Financial Services Providers, 2008, the specific qualifications must meet the following criteria:
(a) (i) The qualification was assessed against the qualifying criteria for a specific Category and/or subcategory; and
(ii) where the qualifications contains a fundamental, core and elective component, the fundamental, core and elective component of the qualification corresponds fully with the qualifying criteria for the specific Category and/or subcategory; or
(b) the qualification corresponds fully with the qualifying criteria for the specific Category and/or subcategory.
(9) The list of recognised qualifications applies to all applicants, key individuals and representatives, in accordance with the Category or subcategory he or she renders financial services in.
STAATSKOERANT, 15 OKTOBER 2008 No.31514 29
5
PART IV: LIST OF APPROPRIATE SUBJECTS
4. The following subjects are deemed to meet the requirements for appropriateness, and will be used in combination with the list of generic qualifications as approved by the Registrar.
Category I Category II and IIA Category III Accounting Accounting Accounting Actuarial Science Actuarial Science Actuarial science Agricultural economics Agricultural economics Applied Mathematics Applied Mathematics Applied Mathematics Applied Statistics Applied Statistics Applied Statistics Auditing Auditing Auditing Business economics Banking Banking Business Environment Business Economics Business Economics Business Finance
--
Business Finance Business Finance Business information systems Business Management Business Management Business Integration Commercial law Commercial law Business Management Companies law Companies law Commercial law Consumer behaviour Consumer behaviour Consumer behaviour Corporate Finance Corporate Finance Companies law Econometrics Econometrics Computer architecture Economics Economics Corporate Finance Estate and trust law Estate and trust law Econometrics Finance Finance Economics Financial Accountina Financial Accounting Estate and trust law Financial analysis Financial analysis Finance Financial Management Financial Management Financial Accounting Financial planning Financial planning Financial analysis Financial/ Securities Financial! Securities Markets Financial Management Markets Insurance Insurance Financial/ Securities Markets Interpretation of Statutes I nterpretation of Statutes Interpretation of Statutes Investment or Portfolio Investment or Portfolio Informatics Management Management Law of contract or delict Law of contract or delict Information Technology
Architecture Management Accounting Management Accounting Information Technology
Enterprise Mathematical Statistics Mathematical Statistics Insurance Mathematics Mathematics Investment Marketing Marketing Law of contract or delict Mercantile law Mercantile law Legal Environment
!
I
30 No.31514 GOVERNMENT GAZETTE. 15 OCTOBER 2008
6
~gorl'~i_ ..... Cat~gory II and IIA Categor~ iii Portfolio Management Portfolio Management Management Accounting Risk management Risk management ! Mathematics Statistics or analytical Statistics or analytical Marketing techniques ! techniques c----- . Strategic Management Strategic l\Aanagement Mercantile law _ ...
Taxation ,Taxation Network administration Taxation law Taxation law Process Management
(Process Modelling and i Control)
Wealth management Wealth management Programming Risk Management
• Services Marketin~ Statistics Strategic Communication Management Skills Strategic management Strategic Marketing Strateg~
ffixation -".
i Taxation law Wealth management
PART V: MAINTENANCE OF QUALIFYING CRITERIA AND LIST OF RECOGNISED QUALIFICATIONS
5. The Registrar will from time to time, after consultation with the Advisory Committee, publish an updated version of this Schedule and lor its Annexures, by notice in the Gazette.
PART VI: LIST OF QUALIFYING CRITERIA AND LIST OF RECOGNISED QUALIFICATIONS
6. (1) The list of recognised qualifying criteria will be published as part of Annexure 1 to this Determination.
(2) The list of recognised qualifications will be published by the Registrar after consultation with the Advisory Committee as part of the Annexures to this Determination.
(3) The use of the abbreviation "G" in relation to a qualification on the list of recognised qualifications indicates that it is recognised as a generiC qualification for a specific subcategory, and still requires the relevant regulatory examination at second level to be completed.
"'-
i
STAATSKOERANT, 15 OKTOBER 2008 No.31514 31
7
(4) The use of the abbreviation "S" in relation to a qualification on the list of recognised qualifications indicates that it is recognised as a specific qualification for a specific subcategory, and does not require the relevant regulatory examination at second level to be completed in relation to the transitional requirements.
(5) The use of the abbreviation "SP" in relation to a qualification on the list of recognised qualifications indicates that it is recognised as a specific qualification for a specific subcategory, and does not require the relevant regulatory examination at second level to be completed in relation to the post-transitional requirements.
PART VII: MISCELLANEOUS
Short title and commencement
7. This Determination is called the Determination of Qualifying Criteria and Qualifications for Financial Services Providers, Number 1 of 2008, and comes into operation on date of publication thereof in the Gazette.
32 NO.31514 GOVERNMENT GAZETTE, 15 OCTOBER 2008
1
Annexures to the Determination of Qualifying Criteria and Qualifications for Financial Services Providers, 2008
ANNEXURE 1: QUALIFYING CRITERIA
Section 1:
Section 2:
Section 3:
Section 4: Section 5:
Section 6:
Section 7:
Section 8:
Section 9:
Section 10:
Section 11:
Section 12:
Section 13:
Section 14:
ANNEXURE 2:
Annexure 2: Annexure 2: Annexure 2:
RE 1 : First Level Regulatory Examination: Applicants And/Or Key Individuals In Category I, II, IIA and III ................................................... 2 RE 2: First Level Regulatory Examination: Applicants And/Or Key Individuals In Category II and/or IIA .................................................... 14 RE 3: First Level Regulatory Examination: Applicants And/Or Key I ndividuals I n Category II I .................................................................... 1 8 RE 4: First Level Regulatory Examination: Representatives ................ 22 RE 5: Second Level Regulatory Examination: Long Term Insurance Category A ......................................................................... 26 RE 6: Second Level Regulatory Examination: Short And Long Term Deposits ..................................................................................... 28 RE 7: Second Level Regulatory Examination: Long Term Insurance Category B, Long Term Insurance Category C And Retail Pension Funds .......................................................................... 32 RE 8: Second Level Regulatory Examination: Participatory Interests In Collective Investment Schemes ........................................ 45 RE 9: Second Level Regulatory Examination: Securities And Instruments ......................................................................................... 51 RE 10: Second Level Regulatory Examination: Short Term I nsurance: Personal Lines ................................................................... 79 RE 11: Second Level Regulatory Examination: Short Term Insurance: Commercial Lines .............................................................. 83 RE 12: Second Level Regulatory Examination: Health Care Benefits ............................................................................................... 88 RE 13: Second Level Regulatory Examination: Pension Benefit Funds ................................................................................................ 103 RE 14: Second Level Regulatory Examination: Long Term Insurance Category A:FAB ................................................................ 107
QUALIFICATIONS LIST
Section 1 : Qualifications list for Category I FSPs ............................... 110 Section 2: Qualifications list for Category II and IIA FSPs ................. 118 Section 3: Qualifications list for Category" I FSPs ............................. 123
31514--,
G) o rp ~ 2 ~ (.J
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J ..
J.
(J1
-' !
2
Se
ctio
n 1
: R
E 1
; F
irst
Lev
el R
eg
ula
tory
Exa
min
atio
n:
Ap
plic
an
ts A
nd
/Or
Key
In
div
idu
als
In C
ate
go
ry I,
II,
IIA
and
III
(1 )
(2)
(3)
(4)
(5)
The
firs
t le
vel
regu
lato
ry e
xam
inat
ion
will
be
deve
lope
d ta
king
int
o ac
coun
t th
at a
pplic
ants
and
key
indi
vidu
als
are
requ
ired
to u
nder
stan
d th
e F
AIS
Act
, th
e F
IC A
ct,
and
the
sub
ordi
nate
leg
isla
tion
to t
he F
AIS
Act
that
app
lies
to t
he c
ateg
ory
or s
ubca
tego
ry t
hey
are
auth
oris
ed,
appr
oved
or
appo
inte
d fo
r;
App
lican
ts a
nd k
ey
indi
vidu
als
are
requ
ired
to c
ompl
ete
a re
gula
tory
exa
min
atio
n th
at a
ddre
sses
the
leg
al o
blig
atio
n an
d lia
bilit
ies
tha
t'
they
are
acc
ount
able
for
in t
erm
s o
f the
FA
IS A
ct;
Thi
s le
gisl
ativ
e ba
sed
exam
inat
ion
will
be
know
n as
the
firs
t le
vel r
egul
ator
y ex
amin
atio
n;
The
qua
lifyi
ng c
rite
ria
liste
d he
re w
ill b
e us
ed b
y th
e ex
amin
atio
n bo
dies
to
set
the
first
lev
el r
egul
ator
y ex
amin
atio
n, a
nd s
erve
as
the
crite
ria a
gain
st w
hich
qua
lific
atio
ns w
ill b
e ev
alua
ted
for
incl
usio
n on
the
lis
t of r
ecog
nise
d qu
alifi
catio
ns;
All
appl
ican
ts a
nd k
ey
indi
vidu
als
perf
orm
ing
finan
cial
ser
vice
s in
rel
atio
n to
cat
egor
y I,
II, I
IA a
nd I
II ar
e re
quire
d to
com
plet
e th
e fir
st le
vel
regu
lato
ry e
xam
inat
ion,
bas
ed o
n th
e fo
llow
ing
qual
ifyin
g cr
iteria
:
i····N
Q.i·
-T
ask
K
no
wle
dg
e C
rite
ria
Ski
ll C
rite
ria
1--:
--.
1.
Des
crib
e th
e ro
le o
f th
e ke
y D
escr
ibe
the
role
s an
d re
spon
sibi
litie
s of
key
in
divi
dual
in t
erm
s o
f the
FA
IS
indi
vidu
als
as d
efin
ed in
the
FA
IS A
ct.
Act
. E
xpla
in t
he r
equi
rem
ents
for
lice
nsin
g by
the
FS
B
J2
r th
e ro
le o
f the
key
indi
vidu
al.
Des
crib
e w
hat
the
key
indi
vidu
al's
man
agem
ent
Per
form
the
nec
essa
ry m
anag
emen
t and
ove
rsig
ht
resp
onsi
bilit
y en
tails
reg
ardi
ng t
he r
egul
ated
fu
nctio
ns r
egar
ding
the
ir fu
nctio
ning
with
in t
he F
SP
. fu
nctio
ns o
f the
FS
P.
. Des
crib
e w
hat t
he h
ones
ty a
nd i
nteg
rity
Che
ck w
heth
er a
pot
entia
l/cur
rent
ke
y in
divi
dual
re
quire
men
ts a
re fo
r a
key
indi
vidu
al.
mee
ts t
he r
equi
rem
ents
reg
ardi
ng h
ones
ty a
nd
Lnte
grity
. E
xpla
in w
hat t
he im
plic
atio
ns a
re f
or
the
key
Tak
e th
e ap
prop
riate
act
ion
whe
re a
in
div
idu
al i
f a k
ey in
divi
dual
's p
erso
nal
situ
atio
n po
tent
ial/c
urre
nt k
ey in
divi
dual
doe
s no
t me
et t
he
chan
ges
and
he/s
he is
no
long
er fi
t an
d pr
oper
. re
quire
men
ts r
egar
ding
hon
esty
and
int
egrit
y.
{Ref
ers
to h
ones
ty a
nd i
nteg
rity
requ
irem
ent.}
.
Exp
lain
wha
t the
im
plic
atio
ns a
re f
or
the
FS
P if
a
key
indi
vidu
al's
per
sona
l si
tuat
ion
chan
ges
and
he/s
he is
no
long
er fi
t an
d pr
oper
. (R
efer
s to
.
hone
sty
and
inte
grity
req
uire
men
t.)
f.. E
xpla
in t
he c
ompe
tenc
e/qu
alifi
catio
n re
quire
men
ts
Che
ck,·w
here
app
licab
le,
whe
ther
a
that
a k
ey in
divi
dual
nee
ds t
o m
eet.
pote
ntia
l/cur
rent
key
indi
vidu
al m
eets
the
co
mpe
tenc
e/qu
alifi
catio
n re
quire
men
ts.
.-
.-
(f) ~ '-I
(f)
;'\ a m
JJ » z .-l
(J1 a ~ a [J) m
JJ
I\J
o o co z o (.J
..J.
(J
1 ~ w
W
3
--
No.
T.
ik
K
no
wle
dg
e C
rite
ria
Exp
lain
the
exp
erie
nce
requ
irem
ents
tha
t the
key
~cllvidual m
ust m
eet.
Exp
lain
wha
t m
anag
emen
t res
pons
ibili
ties
shou
ld
be c
arrie
d o
ut
by
a ke
y in
divi
dual
.
f-:-
-,--
-E
xpla
in w
hen
an i
ndiv
idua
l can
com
men
ce a
ctin
g as
a k
ey
indi
vidu
al.
2.
Des
crib
e th
e ro
le o
f th
e
Des
crib
e th
e ro
les
and
resp
onsi
bilit
ies
of
repr
esen
tativ
e in
te
rms
of t
he
i re
pres
enta
tives
as
defin
ed in
the
FA
IS A
ct.
FA
IS A
ct.
I E
xpla
in th
e re
quir
emen
ts f
or
licen
sing
by
the
FS
B
, fo
r th
e ro
le o
f th
e r
epre
sent
ativ
e.
Exp
lain
whe
n an
ind
ivid
ual i
s ob
liged
to
be
reqi
ster
ed a
s a
relJ
rese
ntat
ive
in t
erm
s of
FA
IS.
Exp
lain
the
fit
and
prop
er r
equi
rem
ents
tha
t app
ly to
~epresentatives.
Dis
cuss
the
pur
pose
of t
he r
egis
ter
of
repr
esen
tativ
es.
Exp
lain
the
qua
lific
atio
n re
quire
men
ts f
or
rE:lp
rese
ntat
ives
. 3.
M
anag
e an
d ov
erse
e th
e D
escr
ibe
the
Fit
and
Pro
per
requ
irem
ents
tha
t ap
ply
appo
intm
ent
of
to r
epre
sent
ativ
es in
ter
ms
of t
he l
egis
latio
n.
repr
esen
tativ
es.
Exp
lain
wha
t re
crui
tmen
t an
d ap
poin
tmen
t pr
oced
ures
hav
e to
be
impl
emen
ted
whe
n ap
poin
ting
repr
esen
tativ
es.
4.
Man
age
the
rend
erin
g o
f E
xpla
in w
hen
repr
esen
tativ
es c
an a
ct u
nder
se
rvic
es u
nder
sup
ervi
sion
. su
perv
isio
n.
Des
crib
e th
e su
perv
isio
n re
quire
men
ts t
hat
mus
t be
in p
lace
whe
n re
pres
enta
tives
act
und
er
supe
rvis
ion.
Ski
ll C
rite
ria
Che
ck,
whe
re a
pplic
able
, w
heth
er a
pot
entia
l key
in
divi
dual
mee
ts th
e ex
perie
nce
requ
irem
ents
. O
vers
ee th
e im
plem
enta
tion
of p
roce
sses
and
co
ntro
ls t
o en
sure
the
suf
ficie
nt m
anag
emen
t an
d ov
ersi
ght
of th
e fin
anci
al s
ervi
ces
rend
ered
.
Ver
ify th
at th
e F
SP
mai
ntai
ns a
reg
iste
r of
re
pres
enta
tives
in a
ccor
danc
e to
the
FA
IS
requ
lI t:
:11
1t:
:'IL
::>
.
leri
fy th
at t
he n
eces
sary
HR
pro
cess
es a
re
deve
lope
d/am
ende
d to
ena
ble
the
FS
P t
o ch
eck,
at
recr
uitm
ent
stag
e, w
heth
er a
pot
entia
l re
pres
enta
tive
mee
ts a
t le
ast t
he e
ntry
leve
l F
it an
d P
roee
r re
guire
men
ts.
Con
firm
tha
t the
re a
re e
noug
h ro
le-p
laye
rs (
key
indi
vidu
als/
rep
rese
ntat
ives
) th
at m
eet t
he c
rite
ria
and
can
act a
s su
eerv
isor
s.
Ens
ure
that
the
supe
rvis
ors
unde
rsta
nd t
he
ir r
oles
an
d ha
ve th
e ca
paci
ty to
car
ry th
is o
ut.
Ver
ify th
at th
ere
are
leve
ls o
f sup
ervi
sion
in p
lace
to
I
~ z !=' w
......
01
...... ..,. G) ~ m
JJ z s: m
z -i
G) ~ ~ m
01 o § ro m
JJ
l\) 8 (XI
4
No
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Exp
lain
the
dis
clos
ure
requ
irem
ents
tha
t re
pres
enta
tives
are
res
pons
ible
for
. 5.
,
Man
age
and
over
see
the
Des
crib
e th
e im
plic
atio
ns o
f Sec
tion
8 an
d S
ectio
n I
ongo
ing
de
velo
pm
en
t!
13 o
f th
e A
ct,
and
wha
t th
is m
eans
in t
erm
s of
em
ploy
men
t of
trai
ning
and
dev
elop
men
t of
rep
rese
ntat
ives
. re
pres
enta
tives
.
Des
crib
e th
e im
plic
atio
ns if
a r
epre
sent
ativ
e do
es
not m
ee
t all
the
requ
irem
ents
in t
erm
s of
Fit
and
Pro
per
by th
e re
leva
nt d
ate.
6.
Deb
ar r
epre
sent
ativ
es t
ha
t D
iscu
ss t
he p
urpo
se o
f de
barm
ent.
have
bee
n fo
und
to a
ct
frau
dule
ntly
, or
com
mitt
ed
I an
y ot
her
act
that
giv
es r
ise
J Des
crib
e w
hen
the
deba
rmen
t of
a r
epre
sent
ativ
e ,
to d
ebar
men
t. sh
ould
tak
e pl
ace.
Ski
ll C
rite
ria
over
see
the
repr
esen
tativ
es.
Per
iorm
the
nec
essa
ry m
anag
emen
t and
ove
rsig
ht
func
tions
reg
ardi
ng t
he r
epre
sent
ativ
es t
ha
t are
ov
erse
en b
y yo
u.
Che
ck t
hat
disc
losu
res
are
adeq
uate
to
enab
le
clie
nt's
abi
lity
to m
ake
an i
nfor
med
dec
isio
n.
Ver
ify th
at t
he p
roce
sses
are
doc
umen
ted
to e
nsur
e th
at r
ecor
ds a
re k
ept
of t
rain
ing
prog
ram
mes
at
tend
ed,
incl
udin
g co
ntin
ued
educ
atio
nal t
rain
ing
for
your
key
indi
vidu
als
and
repr
esen
tativ
es.
Impl
emen
t and
mai
ntai
n a
docu
men
ted
proc
ess
to
ensu
re t
ha
t all
repr
esen
tativ
es a
re t
rain
ed,
com
pete
nt a
nd w
ill p
rovi
de f
inan
cial
ser
vice
s on
be
half
of th
e F
SP
effi
cien
tly,
hone
stly
and
fai
rlv.
Che
ck t
hat
ther
e ar
e tr
aini
ng p
roce
sses
in p
lace
to
prov
ide
repr
esen
tativ
es w
ith i
nfor
mat
ion
and
skill
s re
gard
ing:
· P
roce
sses
· S
yste
ms
· P
rodu
cts
• S
ervi
ces
· C
ompl
ianc
e re
quire
men
ts
· R
egul
ator
y re
quire
men
ts
whe
n re
nder
ing
finan
cial
ser
vice
s.
Che
ck t
ha
t the
nec
essa
ry H
R p
roce
sses
are
de
velo
ped/
amen
ded
to e
nabl
e th
e F
SP
to
chec
k at
,
regu
lar
inte
rval
s, w
heth
er a
rep
rese
ntat
ive
is
mak
ing
the
requ
ired
prog
ress
reg
ardi
ng r
each
ing
all
the
Fit
and
Pro
per
requ
irem
ents
as
it ap
plie
s to
hi
s/he
r a~
~oin
tmen
t co
nditi
ons.
C
heck
tha
t th
e em
ploy
men
t! m
anda
tory
agr
eem
ent
with
rep
rese
ntat
ives
inc
lude
the
reas
ons
for
poss
ibLe
deb
arm
ent.
Con
firm
th
at a
ll ro
le p
laye
rs in
the
FS
P a
re i
nfor
med
ab
out:
(J) ~ 4 (J)
i'\ o m
JJ » z .:-I ......
(Jj o ~ o III m
JJ
N 8 ()j z o (.i)
(Jj ......
-l'- w
CJ1
5
No.
T
ask
K
no
wle
dg
e C
rite
ria
-
Dis
cuss
how
the
deba
rmen
t o
f a r
epre
sent
ativ
e sh
ould
tak
e pl
ace.
Exp
lain
the
act
ions
a r
epre
sent
ativ
e m
ay
take
tha
t I
_wou
ld g
ive
rise
to d
ebar
men
t pro
ced
ure
s.
Des
crib
e th
e ra
mifi
catio
ns f
or a
FS
P i
f it
deba
rs a
re
pres
enta
tive
unfa
irly.
E
xpla
in t
he p
roce
sses
tha
t sh
ould
be
follo
wed
be
fore
a r
epre
sent
ativ
e is
deb
arre
d.
Exp
lain
the
pro
cess
and
tim
efra
me
to n
otify
the
Reg
istr
ar t
hat
a re
pres
enta
tive
has
been
deb
arre
d.
7.
Aw
aren
ess
of t
he r
egul
ator
y p
esc
rib
e t
he A
ct a
nd r
eqU
irem
ents
the
reof
. en
viro
nmen
t in
whi
ch t
he F
SP
E
xpla
in in
gen
eral
whi
ch d
epar
tmen
t and
/or
cont
act
func
tions
. pe
rson
{s)
at t
he R
egul
ator
's o
ffice
sho
uld
be
co
ntac
ted
with
reg
ards
to
the
mai
nten
ance
of
a F
SP
lic
ense
. E
xpla
in w
hat
form
at o
f com
mun
icat
ion
with
the
~;;Iator Is
req
uire
d.
Exp
lain
wha
t pr
oces
ses
are
requ
ired
to r
emai
n up
date
d w
ith r
egar
ds t
o ot
her
legi
slat
ion,
am
endm
ents
, up
date
s an
d re
quire
men
ts p
ublis
hed
that
will
affe
ct th
e F
SP
. D
escr
ibe
the
impl
icat
ion
for
a F
SP
if th
e R
egis
trar
pu
blis
hes
a no
tice
rega
rdin
g an
"un
desi
rabl
e bu
sine
ss p
ract
ice"
.
Ski
ll C
rite
ria
· T
he r
easo
ns w
hy
deba
rmen
t wou
ld b
e co
nsid
ered
, •
The
pro
cess
tha
t w
ould
be
follo
wed
in s
uch
inst
ance
s,
• A
ny r
ecou
rse
a re
pres
enta
tive
ma
y ha
ve.
Ver
ify th
at th
e F
SP
's H
Ra
nd
dis
cipl
inar
y co
de h
as
been
am
ende
d to
pro
vide
for
deba
rmen
t pr
oced
ures
.
Ver
ify th
at th
ere
are
inte
rnal
pro
cess
es a
nd
proc
edur
es th
at a
re f
ollo
wed
whe
n a
repr
esen
tativ
e is
deb
arre
d.
Ver
ify th
at th
ere
are
inte
rnal
pro
cess
es a
nd
proc
edur
es th
at a
re f
ollo
wed
to
info
rm t
he R
egis
trar
w
hen
a re
pres
enta
tive
is d
ebar
red.
C
heck
th
att
he
com
plia
nce
offic
er p
erfo
rms
mon
itorin
g pr
oced
ures
on
all c
ases
whe
re
repr
esen
tativ
es a
re d
ebar
red.
Inte
ract
with
the
reg
ulat
or w
hen
and
whe
re
requ
ired.
--
-
Che
ck th
at th
ere
are
pro
cess
es in
pla
ce to
che
ck
whe
ther
the
Reg
istr
ar h
as p
ublis
hed
notic
es
rega
rdin
g "u
ndes
irab
le b
usin
ess
prac
tices
".
I
w
CJl z o w
01 .... ../>
. Gl o <
m
:0 z s: m
z -i
Gl ~ 9 m
U1 o () d OJ
m
:0
I\) o o (X)
6
--
No.
T
ask
K
no
wle
dg
e C
rite
ria
,----
----
8.
Aw
aren
ess
of th
e sp
ecifi
c I
Exp
lain
the
obl
igat
ions
and
req
uire
men
ts w
hen
oblig
atio
ns in
ter
ms
of t
he
clie
nt fu
nds
or p
rem
ium
s ar
e re
ceiv
ed.
rele
vant
Cod
e of
Con
duct
and
ot
her
subo
rdin
ate
legi
slat
ion.
D
escr
ibe
the
requ
irem
ents
reg
ardi
ng t
he
deve
lopm
ent,
am
endm
ents
, ap
prov
al a
nd u
se o
f ~_ecimen m
anda
tes.
D
escr
ibe
the
oblig
atio
ns a
nd r
equi
rem
ents
re
gard
ing
the
use
of n
omin
ee c
ompa
nies
.
Exp
lain
the
impo
rtan
ce o
f di
sclo
sure
s.
Dis
cuss
how
to e
nsur
e tr
ansp
aren
cy a
nd m
anag
e co
nflic
t of
inte
rest
s.
Dis
tingu
ish
betw
een
actio
ns r
egar
ded
as a
dvic
e an
d in
term
edia
ry s
ervi
ces
in t
erm
s of
the
Act
. ~scribe
the
conc
ept
of e
thic
al c
ondu
ct in
the
fin
anci
al s
ervi
ces
envi
ronm
ent.
Dis
cuss
the
impa
ct a
nd r
equi
rem
ents
reg
ardi
ng t
he
disc
losu
re r
ules
on
the
FS
P.
Dis
cuss
the
eff
ect
of d
iscl
osur
e re
quire
men
ts o
n I c
omm
issi
on is
exp
lain
ed w
ith r
efer
ence
to
line
of
I bu
sine
ss a
nd s
peci
fic p
rodu
ct/p
olle
y.
I D
escr
ibe
the
dis
clos
ure
requ
irem
ents
reg
ardi
ng t
he
I F
SP
, pr
oduc
t su
pplie
rs,
prod
uct
supp
liers
act
ing
as
I F
SP
s an
d fin
anci
al s
ervi
ces.
I E
Xp
lain
the
man
ner
in w
hich
com
plai
nts
are
to b
e ha
ndle
d b
y th
e in
dust
ry w
ith r
efer
ence
to
the
FA
IS
Gen
eral
Cod
e of
Con
duct
. E
xpla
in t
he s
teps
th
at
mus
t be
take
n b
y a
FS
PI
Ski
ll C
rite
ria
Ver
ify th
at t
here
are
pro
cess
es in
pla
ce t
o e
nsur
e th
at t
he b
usin
ess
is i
nfor
med
abo
ut "
unde
sira
ble
busi
ness
pra
ctic
es"
and
that
they
cea
se a
ny s
uch
actio
ns.
Con
firm
tha
t th
ere
is a
sep
arat
e ba
nk a
ccou
nt w
ith
a re
gist
ered
ban
k in
to w
hich
clie
nt m
onie
s ar
e de
posi
ted.
V
erify
that
all
spec
imen
man
date
s ar
e ap
prov
ed b
y th
e F
SB
bef
ore
it is
util
ised
.
Che
ck t
hat
any
nom
inee
com
pani
es u
sed
have
be
en a
ppro
ved
by th
e F
SB
in t
erm
s of
the
nom
inee
po
licy.
vo
ntl
rmth
att
he
rep
orts
in t
erm
s of
the
lin
ee
com~an:t a
re ~ro
vide
d tim
eous
l:t to
the
FS
B.
Che
ck t
hat
disc
losu
res
are
adeq
uate
to
enab
le
clie
nt's
abilit~ to
mak
e an
inf
orm
ed d
ecis
ion.
App
ly th
e re
quire
men
ts o
f the
Gen
eral
Cod
e o
f C
ondu
ct.
App
ly d
iscl
osur
e re
quire
men
ts in
ter
ms
of fi
nanc
ial
prod
ucts
.
Ver
ify th
at c
ompl
aint
s pr
oced
ures
and
pro
cess
es
are
in p
lace
.
i I U
l ~ ~ Ul
;;<; o m
JJ » z .-i
()l o ~ o OJ
m
JJ
N o o (l) z o (;)
()l .....
-i'>
c..J '"
;
7
No.
T
ask
K
no
wle
dg
e C
rite
ria
--~
repr
esen
tativ
es w
hen
prov
idin
q ad
vice
. E
xpla
in t
he p
rovi
sion
s o
f the
Gen
eral
Cod
e re
latin
g to
: •
cust
ody,
•
com
plai
nts,
· ris
k m
anag
emen
t,
· in
sura
nce,
•
adve
rtis
ing
and
• te
rmin
atio
n.
9.
Ove
rsee
and
man
age
the
E
xpla
in t
he r
equi
rem
ents
for
app
rova
l of
a
com
plia
nce
func
tions
as
Com
plia
nce
Off
icer
by
the
Reg
istr
ar.
requ
ired
by th
e F
AIS
Act
. I
Des
crib
e th
e ro
le a
nd f
unct
ion
of a
Com
plia
nce
I O
ffice
r.
Exp
lain
wh
y it
is i
mpo
rtan
t for
the
Com
plia
nce
Offi
cer
to b
e/ac
t in
depe
nden
t fro
m t
he m
anag
emen
t of
the
FS
P.
Exp
lain
wh
y it
is i
mpo
rtan
t for
the
Com
plia
nce
Off
icer
to b
e ab
le t
o av
oid
conf
licts
of
inte
rest
re
qard
inq
the
exec
utio
n of
the
ir du
ties.
E
xpla
in w
hat
inte
rnal
aud
it an
d co
ntro
l fun
ctio
ns a
re
requ
ired
to e
nabl
e th
e C
O t
o fu
nctio
n in
a m
anne
r en
surin
g th
at
no a
ctua
l or
pot
entia
l co
nflic
ts o
f in
tere
sts
aris
e as
reg
ards
the
dut
ies
and
func
tions
of
oth
er e
mpl
oyee
s.
Dem
onst
rate
und
erst
andi
ng o
f the
con
tent
of t
he
com
plia
nce
repo
rt in
ord
er to
be
able
to s
ign
it of
f.
I---
~-
~~-----'-~--
~-~
L-~~
Ski
ll C
rite
ria
Che
ck t
hat
the
CO
is a
ppro
ved
by th
e R
egis
trar
.
Rep
lace
the
int
ende
d C
O i
f he/
she
does
not
hav
e th
e re
quire
d ap
prov
al o
f the
Reg
istr
ar.
Con
firm
tha
t th
e co
mpl
ianc
e pr
actic
e ha
s su
ffic
ient
re
sour
ces
to p
rovi
de a
pro
per
com
plia
nce
serv
ice,
w
here
an
outs
ourc
ed c
ompl
ianc
e pr
actic
e is
use
d.
Con
firm
tha
t th
e C
O I
com
plia
nce
prac
tice
can
func
tion
obje
ctiv
ely
and
suffi
cien
tly in
depe
nden
t of
the
FS
P.
Ver
ify th
at a
ny in
tern
al c
ompl
ianc
e fu
nctio
n is
st
affe
d an
d eq
uipp
ed t
o pr
ovid
e a
prop
er
Eom
l2lia
nce
serv
ice.
M
anag
e po
tent
ial
conf
lict o
f in
tere
st w
here
m
anag
emen
t is
also
res
pons
ible
for
the
com
plia
nce
func
tion,
i.e
. a
sole
Ero
Erie
tor.
Im
plem
ent i
nter
nal a
udit
and
cont
rol f
unct
ions
to
enab
le t
he C
O t
o fu
nctio
n in
a m
anne
r en
surin
g th
at
no a
ctua
l or
pote
ntia
l con
flict
s of
inte
rest
s ar
ise
as
rega
rds
the
dutie
s an
d fu
nctio
ns o
f ot
her
empl
oyee
s.
Ve
rify
that
the
FS
P h
as p
roce
dure
s in
pla
ce t
o m
onito
r th
e co
mpl
ianc
e o
f sup
ervi
sors
with
the
re
quire
men
ts a
s se
t out
in t
he r
elev
ant
Det
erm
inat
ion.
C
heck
-tha
t the
com
plia
nce
offic
er 1
Jt::
!IIU
[ II
:;
I i I
c.l
CXI z o w .... 01
..... ... G) ~ m
::D
z 5: m
z -l
G) KJ ~ m
01 o ~ OJ m
::D
J\) o o CXI
8
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Exp
lain
wh
at t
he c
ompl
ianc
e fu
nctio
n re
quire
men
ts
are
with
in t
he F
SP
.
'--.
ntai
n th
e lic
ense
of t
he
Exp
lain
the
im
pa
ct o
f lic
ensi
ng c
ondi
tions
on
an
) in
clud
ing
the
£S
P.
lag
em
en
t o
f the
lic
ensi
ng
Exp
lain
wha
t th
e im
plic
atio
n is
for
a F
SP
if a
key
di
tions
. in
divi
dual
lea
ves
the
empl
oy o
f the
FS
P.
i E
xpla
in w
hat
levi
es a
re p
ayab
le to
the
Reg
istr
ar
I and
whe
n sh
ould
thi
s be
pai
d.
I. I D
escr
ibe
wha
t ci
vil
rem
edie
s an
d pe
nalti
es t
he
lli(7
Qis
tra
r m
ay im
pose
und
er F
AIS
. I D
escr
ibe
wha
t ac
tions
will
lea
d to
the
Reg
istr
ar
i im
posi
ng c
ivil
rem
edie
s an
d pe
nalti
es u
nder
FA
IS.
I Exp
lain
wha
t ch
ange
s m
ust b
e re
port
ed.
Exp
lain
wha
t lic
ensi
ng c
ondi
tions
reg
ardi
ng
prod
ucts
and
ser
vice
s m
ust
be m
et.
-Des
crib
e th
e im
plic
atio
ns f
or t
he F
SP
if
the
licen
sing
con
ditio
ns r
egar
ding
pro
duct
s an
d se
rvic
es a
re n
ot m
et.
Ski
ll C
rite
ria
mon
itorin
g pr
oced
ures
on
rend
erin
g of
ser
vice
s un
der
supe
rvis
ion.
E
stab
lish
the
com
plia
nce
func
tion
with
in t
he F
SP
.
Con
firm
th
at w
here
the
com
plia
nce
offic
er f
ound
an
y in
stan
ces
of n
on-c
ompl
ianc
e th
at t
his
is
addr
esse
d an
d re
ctifi
ed.
Con
firm
tha
t the
CO
per
form
s m
onito
ring
proc
edur
es o
n re
nder
ing
of fi
nanc
ial
serv
ices
with
in
the
limita
tions
on
cate
gorie
s an
d su
bcat
egor
ies
for
whi
ch t
he l
icen
se is
iss
ued.
M
anag
e th
e lic
ensi
ng c
ondi
tions
.
Con
firm
tha
t all
role
-pla
yers
are
inf
orm
ed a
nd a
ble
to e
xecu
te t
heir
dutie
s.
Ver
ify th
at th
ere
are
proc
esse
s in
pla
ce t
o pa
y th
e le
vies
, an
d th
at th
is i
s do
ne w
ithin
the
cor
rect
tim
efra
mes
.
Con
firm
tha
t th
e R
egis
trar
is i
nfor
med
with
in 1
5 da
ys o
f any
cha
nges
to
the
FS
P l
icen
sing
det
ails
. C
onfir
m t
hat t
he F
SP
has
pro
cedu
res
in p
lace
to
ensu
re t
hat
it ca
n co
mpl
y w
ith c
ondi
tion
1 of
the
licen
sing
con
ditio
ns t
ha
t re
quire
s th
e F
SP
to
upda
te
its b
usin
ess
info
rmat
ion
as p
rovi
ded
duri
ng
appl
icat
ions
with
in 1
5 da
ys o
f an
y ch
an
ge
oc
curr
ing.
V
erH
y th
at if
the
FS
P c
hang
es t
he n
am
e o
f the
fin
anci
al s
ervi
ces
busi
ness
(as
ref
lect
ed o
n th
e lic
ense
con
cern
ed)
tha
t F
SP
obt
ains
prio
r ap
prov
al
from
the
Reg
istr
ar in
com
plia
nce
with
con
ditio
n 4
of
the
_ l
sing
con
ditio
ns.
(JJ ~ :...j
(JJ 6 m
JJ » z ;-l
-'
U1 o 8 UJ
m
JJ
1\)
o o CX
l z o (,..)
-'
U1
-' +>
t.l CD
9
----
No
. T
as
k
Kn
ow
led
ge
Cri
teri
a
Des
crib
e th
e im
plic
atio
ns f
or a
FS
P i
f the
Reg
istr
ar
publ
ishe
s a
notic
e re
gard
ing
an u
ndes
irabl
e bu
sine
ss p
ract
ice.
Exp
lain
wha
t the
impl
icat
ions
are
for
a k
ey
indi
vidu
al a
nd/o
r F
SP
if
an a
ccre
dita
tion
is
susp
ende
d or
with
draw
n o
r la
psed
in t
erm
s of
the
M
edic
al S
chem
es A
ct,
1998
, o
r an
y ot
her
enab
ling
legi
slat
ion
such
as
the
Ban
ks o
r In
sura
nce
legi
slat
ion.
D
iscu
ss th
e re
quire
men
ts a
roun
d th
e di
spla
y of
lic
ence
s.
Des
crib
e th
e co
nditi
ons
unde
r w
hich
sus
pens
ions
, w
ithdr
awal
s an
d re
inst
atem
ents
of a
utho
risat
ion
ma
y be
im
pose
d.
Pro
vide
an
over
view
of t
he d
iffer
ent t
ypes
of
finan
cial
ser
vice
s an
d fin
anci
al p
rodu
cts
a F
SP
can
de
al w
ith.
Exp
lain
the
diff
eren
t fin
anci
al p
rodu
cts
with
ex
ampl
es o
f pr
oduc
ts in
eac
h ca
tego
ry.
Exp
lain
the
rel
atio
nshi
p be
twee
n di
ffere
nt in
dust
ry
play
ers.
D
escr
ibe
the
inte
rrel
atio
nshi
ps b
etw
een
FS
P's
in
term
s of
co-
resp
onsi
bilit
y.
11 .
Tak
e th
e n
ece
ssa
ry a
ctio
n if
I D
iscu
ss t
he e
ffect
of v
olun
tary
seq
uest
ratio
n,
the
FS
P v
olun
tari
ly la
pses
its
win
ding
-up
or
clos
ure
of a
bus
ines
s on
its
lic
ensi
ng
licen
se.
I st
atus
. (S
ectio
n 38
) E
xpla
in t
he r
easo
ns w
hy a
lice
nse
can
be
susp
ende
d or
with
draw
n.
Dis
cuss
wha
t re
cour
se t
he F
SP
has
in s
uch
a ca
se
whe
re a
lice
nse
was
sus
pend
ed /
with
draw
n.
. (S
ectio
ns 9
and
10)
D
iscu
ss t
he r
easo
ns w
hy
a F
SP
wou
ld l
apse
a
'---
licen
se.
. 'l5
esc
rib
e h
ow la
psin
g a
licen
se d
iffer
s fr
om
Ski
ll C
rite
ria
Ver
ify th
at th
e F
SP
has
inte
rnal
con
trol
s an
d pr
oced
ures
in p
lace
to
ensu
re t
hat
finan
cial
ser
vice
s ar
e re
nder
ed w
ithin
the
lim
itatio
ns o
n ca
tego
ries
an
d su
bcat
egor
ies
for
whi
ch t
he I
icen
se is
iss
ued.
---
---
~
----
---
---
+> o z ~ w
Ul +> G'J o <
m
JJ z s: m
z -1
G'J ~ 9 .rn Ul o ~ OJ
m
JJ
N o o CXl
10
No.
T
ask
K
no
wle
dg
e C
rite
ria
Ski
ll C
rite
ria
~---
:-_
__
__
__
_ -iI
Ls==
uspe
nsio
n or
with
draw
als.
(S
ectio
n 11
) 12
. I V
erify
that
the
prop
er r
ecor
d I
Exp
lain
the
rec
ord
keep
ing
oblig
atio
ns a
s im
pose
d ke
epin
g ac
tiviti
es a
re c
arrie
d I b
y th
e F
AIS
Act
. ou
t.
13.
Man
age
and
over
see
/ pa
rtic
ipat
e in
the
set
ting
up
and/
or m
anag
ing
of th
e in
fras
truc
ture
of t
he F
SP
.
Exp
lain
the
req
uire
men
ts r
egar
ding
rec
ords
and
the
m
aint
enan
ce t
here
of in
ter
ms
of th
e F
AIS
Act
.
Ens
ure
that
the
re a
re p
roce
sses
in p
lace
to
prov
ide
the
man
agem
ent
info
rmat
ion
that
is r
equi
red
to
com
plet
e th
e re
port
s re
quire
d by
the
legi
slat
ion.
E
nsur
e th
at th
ere
are
proc
esse
s in
pla
ce t
o su
bmit
I th
e re
port
s re
quire
d by
the
legi
slat
ion
by t
he d
ue
I ~ _
_ ~~ _
__
_ ~ _
_ ~~ _
__
_ ~~ _
__
_ ~~~d
~a~t
es.
I
~::~i~~~~eU~:~~~~~~~~t: ~
~~do~:~;hen r
ecor
d ~~
;~~~~h~r~:~~:arty o
utsou~ln: ~
~e:ents~rej
Exp
lain
in w
hat
form
at th
e re
cord
s sh
ould
be
stor
ed I V
erify
that
the
nece
ssar
y.ch
ecks
and
bal
ance
s ar
e
~~a~~~
;~~ved
in a
ccor
danc
e to
the
ind
ustr
y \ ~~~
~~~n~~
i~:~~~
~~;~~:
t~fec~
~~o~~:
=-~o=.
:i~:-:
~:::sL
' __
_ ~
Exp
lain
wha
t the
sec
urity
req
uire
men
ts f
or th
ese
reco
rds
are
in t
erm
s of
con
fiden
tialit
y an
d ac
cess
to
reco
rds.
[E
xpla
in th
e re
port
ing
oblig
atio
ns i
mpo
sed
by th
e .
Act
. U
nder
stan
d th
e re
quir
emen
ts r
egar
ding
rec
ords
and
th
e m
aint
enan
ce t
here
of in
ter
ms
of t
he A
ct a
nd
othe
r ap
plic
able
leg
isla
tive
requ
irem
ents
, in
clud
ing
FIC
Act
. E
xpla
in t
he r
equi
rem
ents
reg
ardi
ng t
he
mai
nten
ance
of
reco
rds
in S
ectio
n18
of
FA
IS.
Des
crib
e w
hat
are
the
oper
atio
nal
abili
ty
regu
irem
ents
tha
t the
FS
P m
ust m
eet.
Exp
lain
wha
t do
es t
he r
equi
rem
ent r
egar
ding
fin
anci
al s
ound
ness
impl
ies
for
the
FS
P.
Ver
ify th
at th
e re
port
ing
oblig
atio
ns a
re m
et in
ac
cord
ance
to t
he A
ct.
Ens
ure
that
ther
e ar
e pr
oces
ses
in p
lace
to s
ubm
it th
e re
port
s re
quire
d by
the
leg
isla
tion
by t
he d
ue
date
s.
Est
ablis
h a
fixed
bus
ines
s ad
dres
s.
Con
firm
tha
t the
req
uire
men
ts r
egar
ding
fin
anci
al
soun
dnes
s ar
e ad
here
d to
, an
d w
here
thi
s is
not
in
1------:------------------1
-1
..cp.:.:l
a=ce,
act
ivel
y to
war
ds a
chie
ving
it.
Exp
lain
the
req
uire
men
ts in
ter
ms
of m
onth
ly
man
Clg
emen
t ac
coun
ts.
Exp
lain
wha
t it
mea
ns i
f an
app
licat
ion
is g
rant
ed b
y I t
he R
egis
trar,
but
cond
ition
s an
d re
stric
tions
are
C
onfir
m t
hat t
here
is a
dequ
ate
acce
ss to
co
mm
unic
atio
n fa
cilit
ies
incl
udin
g at
leas
t a fu
ll-tim
e te
leph
one
or c
ellp
hone
ser
vice
, ty
ping
and
im
pose
d.
It:locum~nt d
uplic
atio
n fa
cilit
ies.
E
xpla
in w
hat
give
s ris
e to
a p
rofil
e ch
ange
and
I C
onfir
m t
hat t
here
is a
dequ
ate
stor
age
and
filin
g
Ul ~ -i
Ul 6 m
II » z .-1
.....
(J1 o 8 OJ
m
II
f\) o o OJ z o (i)
-'- m
..... ..,. ~
...L
11
N°'1
Ta
sk
Kn
ow
led
ge
Cri
teri
a
wh
en
sh
ou
ld i
t be
su
bm
itte
d.
Exp
lain
wh
at t
he
off
en
ses
are
un
de
r F
AIS
.
Exp
lain
all
pro
cess
es
an
d p
roce
du
res
requ
ired
~en h
andl
ing
com
pla
ints
. E
xpla
in t
he
re
qu
ire
me
nts
re
ga
rdin
g a
dver
tisin
g an
d d
ire
ct m
ark
etin
g in
te
rms
of t
he A
ct.
I ~ ..
. I I I
Ski
ll C
rite
ria
syst
em
s fo
r th
e s
afe
ke
ep
ing
of
reco
rds,
bu
sin
ess
co
mm
un
ica
tion
s an
d co
rre
spo
nd
en
ce.
Ve
rify
tha
t th
e F
SP
has
an
acc
ou
nt
with
a
reg
iste
red
ban
k, i
nclu
ding
, w
he
re r
eq
uir
ed
by
the
A
ct,
spe
cific
acc
ou
nt f
or
depo
sitin
g cl
ien
t m
onie
s.
Est
ablis
h an
d m
ain
tain
co
mp
lian
ce a
nd r
epor
ting
arr
an
ge
me
nts
fo
r th
e F
SP
act
iviti
es.
Ch
eck
th
at t
he
co
mp
lian
ce a
rra
ng
em
en
ts s
pe
cify
h
ow
oft
en c
om
plia
nce
with
pro
ced
ure
s ar
e m
on
itore
d a
nd r
ep
ort
ed
on.
Im
ple
me
nt
and
mai
ntai
n a
do
cum
en
ted
pro
cess
to
m
ain
tain
th
e a
de
qu
acy
of y
ou
r co
mp
lian
ce a
nd
mo
nito
rin
g a
rra
ng
em
en
ts.
Co
nfir
m t
ha
t p
roce
sse
s ar
e d
ocu
me
nte
d t
o e
nsu
re
reco
rds
are
kep
t o
f tr
aini
ng p
rog
ram
me
s at
tend
ed,
incl
ud
ing
co
ntin
ue
d e
duca
tiona
l tra
inin
g, f
or
you
r ke
y in
div
idu
als
an
d/o
r re
eres
enta
tives
. E
stab
lish
do
cum
en
ted
pro
cess
es
for
the
sup
erv
isio
n a
nd m
on
itori
ng
of
rep
rese
nta
tive
s to
e
nsu
re t
ha
t th
ey
com
ply
with
the
Act
. Im
ple
me
nt
and
mai
ntai
n a
do
cum
en
ted
pro
cess
to
en
sure
th
at
all
rep
rese
nta
tive
s ar
e tr
ain
ed
, co
mp
ete
nt
and
will
pro
vid
e f
inan
cial
se
rvic
es
on
you
r b
eh
alf
effic
ient
ly,
ho
ne
stly
and
fai
rly.
Im
ple
me
nt a
nd m
ain
tain
gua
rant
ees,
pro
fess
ion
al
ind
em
nity
or
fide
lity
insu
ran
ce c
over
in r
esp
ect
of
tbe
clie
nts
of t
he
I:!r
ovid
er o
r re
Ere
sent
ativ
es.
En
sure
th
at
wri
tten
se
rvic
e le
vel
ag
ree
me
nts
are
in
plac
e, w
he
re a
ctiv
ities
are
out
sour
ced.
C
he
ck t
ha
t th
ere
are
pro
cess
es
in p
lace
to e
nsu
re
tha
t p
rovi
de
rs s
ele
cte
d f
or
an
y o
uts
ou
rce
d f
un
ctio
ns
are
sui
tabl
e.
Co
nfir
m t
ha
t wh
ere
ou
tso
urc
ed
ent
ities
pro
vid
e
ad
vice
and
or
inte
rme
dia
ry s
ervi
ces,
th
at
the
y ar
e a
uth
ori
sed
FS
P's
.
.1>0
II) z o w .... U1 .... .1>
0 (j) o < m
::0
z ~
m
z -l
(j) ~ 9 m
U1 o ~ co m
::0
N 8 (XI
12
No.
T
ask
K
no
wle
dg
e C
rite
ria
----
-
Exp
lain
the
im
port
ance
of c
ontin
genc
y pl
anni
ng I
proc
esse
s fo
r th
e F
SP
.
---.-
14.
Man
age
and
over
see
the
Des
crib
e w
hat
is t
he a
uditi
ng a
nd a
ccou
ntin
g re
quire
men
ts t
hat
requ
irem
ents
for
an
auth
oris
ed F
SP
. au
dito
rs/a
ccou
ntin
g of
ficer
s m
ust
adhe
re t
o.
Exp
lain
the
fina
ncia
l re
cord
kee
ping
req
uire
men
ts
the
FS
P m
ust
adh
ere
to.
15.
. M
anag
e an
d ov
erse
e th
e E
xpla
in w
hat
FIC
A g
over
ns a
nd r
equi
res.
[jF
SP
'S a
dher
ence
to
the
r~uirements o
f F
ICA
and
Ski
ll C
rite
ria
Che
ck t
hat t
here
are
pro
cess
es in
pla
ce to
not
ify
the
FS
B o
f any
pro
file
chan
ges,
and
th
at t
his
is
done
with
in t
he c
orre
ct t
imef
ram
es
Ens
ure
that
the
re a
re p
roce
sses
in p
lace
to
avoi
d ac
tions
tha
t ca
n gi
ve r
ise
to c
ivil
rem
edie
s an
d/or
fin
es b
eing
im
pose
d un
der
FA
IS.
Ens
ure
that
ther
e ar
e pr
oces
ses
in p
lace
to
avoi
d ac
tions
tha
t can
be
rega
rded
as
offe
nces
und
er
FA
IS.
Whe
re a
pplic
able
, im
plem
ent
and
mai
ntai
n gu
aran
tees
, pr
ofes
sion
al i
ndem
nity
or
fidel
ity
insu
ranc
e co
ver
in r
espe
ct o
f the
clie
nts
of t
he
prov
ider
or
repr
esen
tativ
es.
Ens
ure
that
ther
e ar
e po
licie
s an
d pr
oces
ses
in
plac
e to
dea
l w
ith c
ompl
aint
s.
Ens
ure
that
ther
e ar
e pr
oces
ses
in p
lace
to c
ompl
y w
ith t
he a
dver
tisin
g an
d m
arke
ting
prov
isio
ns o
f the
ge
nera
l Cod
e o
f C
ondu
ct.
Rec
ord
a co
ntin
genc
y pl
an f
or th
e F
SP
. C
reat
e a
cont
inge
ncy
plan
for
the
FS
P w
ith r
egar
ds
to t
he K
l (L
e. s
ole
prop
rieto
r.)
Che
ck t
ha
t the
req
uire
d au
ditin
g an
d ac
coun
ting
requ
irem
ents
as
it ap
plie
s to
the
FS
P,
is in
pla
ce
and
carr
ied
out a
ccur
atel
y an
d tim
eous
ly.
Con
firm
tha
t the
aud
iting
firm
/acc
ount
ing
offic
er is
or
gani
satio
nally
inde
pend
ent f
rom
the
FS
P (
or t
he
grou
p o
f whi
ch is
it
part
of)
and
able
to m
aint
ain
an
obje
ctiv
e fr
ame
of
min
d in
acc
ompl
ishi
ng it
s re
spon
sibi
litie
s.
Con
firm
tha
t the
aud
iting
firm
I a
ccou
ntin
g of
ficer
is
suff
icie
ntly
kno
wle
dgea
ble
abou
t the
ind
ustr
y fo
r th
e en
gage
men
t. V
erify
tha
t the
re a
re w
ritte
n in
tern
al r
ules
in p
lace
as
req
uire
d b
y th
e F
inan
cial
Int
ellig
ence
Cen
tre
Act
(A
ct n
o. 3
8 o
f 200
1) a
nd t
hat a
ll st
aff
are
fam
iliar
I
(JJ ~ t1 6 m
Jl » z ---I
..J.
(]I o a OJ m
Jl
I'J
o o co z o w
(]I
..J.
... ... '"
No.
T
ask
K
no
wle
dg
e C
rite
ria
othe
r re
leva
nt a
nti-
mon
ey
laun
derin
g le
gisl
atio
n, a
s it
----~ppJies t
o th
e F
SP
. D
escr
ibe
how
the
FS
P is
im
pact
ed b
y F
ICA
.
----
--
Exp
lain
wha
t ac
tions
sho
uld
be t
aken
by
the
FS
P in
re
gard
to
FIC
A.
1---_
--
16.
Man
age
an
y pr
oces
ses
Dis
cuss
the
obl
igat
ions
of t
he F
SP
/key
indi
vidu
al in
re
quire
d in
the
eve
nt o
f an
resp
ect
of a
n in
vest
igat
ion
cond
ucte
d by
the
FS
B
inve
stig
atio
n b
y th
e F
AIS
an
d F
AIS
Om
bud.
O
mbu
d.
Exp
lain
wha
t the
rol
e an
d po
wer
s o
f the
Om
bud
are.
Ski
ll C
rite
ri:
with
thi
s.
I
Ver
ify th
at th
e F
SP
has
pro
cess
es in
pla
ce t
o en
sure
com
plia
nce
with
the
ide
ntifi
catio
n,
verif
icat
ion,
rec
ord-
keep
ing
and
repo
rtin
g ob
ligat
ions
und
er A
ct n
o. 3
8 o
f 200
1, a
nd t
hat
all
staf
f are
fam
iliar
with
thi
s.
Che
ck t
hat
ther
e ar
e pr
oces
ses
in p
lace
to
ensu
re
that
em
ploy
ees
rece
ive
trai
ning
in r
espe
ct o
f, an
d ar
e aw
are
of,
thei
r ob
ligat
ion
to r
epor
t su
spic
ious
tr
ansa
ctio
ns.
Che
ck th
at t
here
are
pro
cess
es in
pla
ce t
o en
sure
th
at th
e bu
sine
ss c
oope
rate
s in
the
cas
e of
an
inve
stig
atio
n by
the
Om
bud.
.jlo
.jlo z o w
.....
(J1 ..... .,. (i) ~ m
lJ
z s: m ~ (i
) ~ m
=1 .m
(J1 o ~ o to m
lJ
N o o co
14
Se
ctio
n 2
: R
E 2
: F
irst
Lev
e! R
eg
ula
tory
Exa
min
atio
n:
Ap
plic
an
ts A
nd
/Or
Key
In
div
idu
als
In C
ate
go
ry II
an
d/o
r II
A
appl
ican
ts a
nd k
ey i
ndiv
idua
ls p
erfo
rmin
g fin
anci
al s
ervi
ces
in r
elat
ion
to c
ateg
ory
II an
d/or
IIA
are
req
uire
d to
com
plet
e th
e fir
st le
vel
regu
lato
ry
exam
inat
ion,
bas
ed o
n th
e qu
alify
ing
crite
ria
as p
ublis
hed
in S
ectio
n 1
and
2 of
this
Det
erm
inat
ion.
No
Ta
sk
KriU
YVIl
;:U~
e C
rite
ria
S
kill
Cri
teri
a
App
ly th
e C
ate
go
ry II
and
/or
IIA
Des
crib
e th
e ch
arac
teri
stic
s o
f a
Cat
egor
y II
and/
or
Ta
ke t
he d
iffer
ence
bet
wee
n C
ateg
ory
II an
d/or
IIA
F
SP
bus
ines
s m
odel
IIA
FS
P a
nd h
ow th
at d
iffer
entia
tes
it fr
om o
ther
F
SP
S a
nd o
ther
fina
ncia
l se
rvic
es p
rovi
ders
into
fin
anci
al s
ervi
ces
prov
ider
s in
Cat
I a
nd/o
r III
. ac
coun
t whe
n m
akin
g bu
sine
ss r
elat
ed d
ecis
ions
-"--.
Dis
cuss
the
sep
arat
ion
of c
lient
ass
ets
from
P
erfo
rm t
he f
iduc
iary
du
ty o
f the
CA
T II
and
/or
IIA
cate
gory
II a
nd/o
r IIA
FS
P's
ass
ets.
F
SP
.
i Id
entif
y w
hich
ass
ets
belo
ng to
the
clie
nt a
nd
. w
hich
bel
ong
to t
he c
ateg
ory
II an
d/or
IIA
FS
P.
Inte
rpre
t ba
sic
finan
cial
sys
tem
s.
Impl
emen
t sys
tem
s an
d pr
oces
ses
to s
epar
ate
clie
nt a
nd C
AT
II a
nd/o
r IIA
FS
P a
sset
s.
Exp
lain
the
role
and
res
pons
ibili
ties
of th
e di
ffere
nt
part
ies
invo
lved
, in
clud
ing
but
not
limite
d to
: •
diffe
rent
par
ties/
lega
l en
titie
s in
volv
ed,
· no
min
ee,
· M
AN
CO
,
· in
sure
rs,
~
pens
ion
fund
s,
· 3r
d pa
rty
FS
Ps,
•
Fin
anci
al A
dvis
ors,
· br
oker
s,
· cl
ient
s D
escr
ibe
the
need
for
rel
evan
t co
ntra
ctua
l V
erify
that
the
rele
vant
con
trac
tual
agr
eem
ents
are
ag
reem
ents
to
be in
pla
ce w
ith t
he r
elev
ant
othe
r in
pla
ce w
ith t
he r
elev
ant
othe
r pa
rty.
pa
rty.
B
usin
ess
is c
ondu
cted
in a
ccor
danc
e w
ith t
he
cont
ract
ual a
gree
men
ts.
(f) ~ ~ 6 m
JJ ~ :-i
U1
'0 ~ o OJ
m
JJ
r\) g co z p (;.)
U1
-' """ ~
15
No
Ta
sk
Kn
ow
led
ge
Cri
teri
a
2 M
anag
e th
e ro
le o
f th
e
Des
crib
e th
e du
ties
the
no
min
ee
com
pa
ny
is
ind
ep
en
de
nt n
om
ine
e
resp
onsi
ble
for.
Exp
lain
the
pu
rpo
se o
f the
nom
inee
com
pany
.
~ I~
~~
~
Ma
na
ge
and
ove
rsee
clie
nt
Exp
lain
why
the
ca
teg
ory
II a
nd/o
r IIA
FS
P m
ust
m
anda
tes
use
man
date
s th
at h
ave
been
app
rove
d by
the
F
SB
. E
xpla
in w
hy
a m
anda
te c
anno
t be
use
d if
it is
not
ap
prov
ed b
y th
e F
SB
.
Exp
lain
why
a m
an
da
te c
anno
t be
use
d if
it is
not
S
igne
d by
the
clie
nt o
r hi
s d
uly
aut
hori
sed
repr
esen
tativ
e.
Exp
lain
why
suc
h a
man
date
mu
st a
dher
e to
the
re
quir
emen
ts in
the
Dis
cret
iona
ry C
ode
of
Con
duct
. E
xp
lain
wh
at t
he
req
uire
men
ts a
re f
or
man
date
s.
[4
Man
age
and
ove
rse
e ty
pica
l E
xpla
in h
ow
diff
eren
t pr
oduc
ts h
ave
diffe
rent
I da
ily tr
ansa
ctio
ns
turn
arou
nd t
imes
and
sho
uld
be a
dher
ed t
o.
Des
crib
e h
ow
ther
e sh
ould
be
adeq
uate
con
trol
s in
pl
ace
to m
an
ag
e r
isks
.
5 M
anag
e an
d o
vers
ee
E
xpla
in h
ow to
ens
ure
tran
spar
ency
and
man
age
disc
losu
res
conf
lict
of in
tere
sts.
6 i
Und
erst
and
the
lega
l E
xpla
in t
he l
iqui
dity
req
uire
men
t.
envi
ronm
ent o
f th
e C
AT
II
and/
or I
IA F
SP
E
xpla
in t
he im
plic
atio
ns o
f the
liqu
idity
re
quir
emen
ts,
-~-
~ D
escr
ibe
the
fidel
ity c
ove
r re
quir
emen
ts.
~~-~~~
Ski
ll C
rite
ria
Ver
ify th
at t
here
are
pro
cess
es in
pla
ce to
che
ck
tha
t th
e n
omin
ee c
ompa
ny e
xecu
tes
its'
resp
onsi
bilit
ies
tow
ards
th
e C
ate
go
ry II
and
/or
IIA
FS
P.
Con
firm
the
nom
inee
co
mp
an
y co
mpl
ies
with
its
du
ties.
M
anag
e cl
ient
man
date
s in
acc
orda
nce
to
man
dato
ry r
equi
rem
ents
.
Che
ck t
ha
t the
sys
tem
s an
d pr
oces
ses
enab
le th
e im
plem
enta
tion
and
exec
utio
n o
f diff
ere
nt
turn
arou
nd t
imes
fo
r di
ffer
ent p
rodu
cts.
Che
ck t
hat t
he s
yste
ms
and
proc
esse
s ha
ve
embe
dded
con
trol
s to
man
age
and
cont
ain
risk.
Con
firm
tha
t di
sclo
sure
s ar
e ad
equa
te t
o en
able
cl
ient
's a
bilit
y to
mak
e an
inf
orm
ed d
ecis
ion.
App
ly t
he li
quid
ity r
equi
rem
ents
to
own
busi
ness
.
Ap
ply
the
fidel
ity r
equi
rem
ents
to
own
busi
ness
.
.I::>
III z ~ w
(J1 .... ~ Q o <
m
:0 z s:: m
z -i
Q ~ g ..m
(J1 o ~ OJ
m
:0
I\
) 8 co
--~,-
No
Task
K
no
wle
dg
e C
rite
ria
Exp
lain
the
im
plic
atio
ns o
f th
e fid
elity
cov
er
requ
irem
ents
.
Des
crib
e th
e ap
plic
able
cap
ital
requ
irem
ent.
"EX
plai
n th
e im
plic
atio
ns o
f th
e ca
pita
l re
quire
men
ts.
Exp
lain
why
the
Cat
egor
y II
and/
or I
IA F
SP
is
not
allo
wed
to
enga
ge in
the
net
ting
oft
ran
sact
ion
s.
Exp
lain
why
a C
ateg
ory
II an
d!or
IIA
FS
P m
ust
ensu
re t
hat
it o
nly
con
duct
s bu
sine
ss w
ith a
noth
er
FS
P t
hat
has
the
appr
opri
ate
cate
gorie
s/
subc
ateg
orie
s on
its
lice
nse,
and
tha
t bu
sine
ss
mus
t al
so b
e co
nduc
ted
with
in t
he p
aram
eter
s of
th
e cl
ient
man
date
. D
escr
ibe
wha
t th
e co
ntin
ual
com
plla
nce
with
the
lic
ense
req
uire
men
ts a
nd c
ondi
tions
are
.
~
App
ly t
he r
ecor
d ke
epin
g E
xpla
in t
he p
erio
d fo
r w
hich
rec
ords
mus
t be
kept
. re
quir
emen
ts
Des
crib
e th
e re
quir
emen
ts s
peci
fical
ly a
pplic
able
to
tel
epho
ne a
nd!o
r el
ectr
onic
req
uire
men
ts.
8 C
ompl
y w
ith r
equi
rem
ents
E
xpla
in w
hy c
lient
s m
ust
rece
ive
writ
ten
repo
rts
at
whe
n re
port
ing
to c
Hen
ts
quar
terl
y in
terv
als,
tha
t pr
ovid
e th
em w
ith
inve
stm
ent
and
rela
ted
info
rmat
ion
.
9 In
stitu
te a
per
sona
l ac
coun
t . D
escr
ibe
why
a D
iscr
etio
nary
FS
P s
houl
d ha
ve a
\ Tra
ding
pol
icy
. pe
rson
al a
ccou
nt p
olic
y an
d w
hy
this
is i
mpo
rtan
t.
I I
Sk
ill C
rite
ria
App
ly th
e ap
plic
able
cap
ital
requ
irem
ents
to
own
busi
ness
.
Ver
ify th
at t
here
are
sys
tem
s in
pla
ce to
che
ck t
hat
netti
ng o
f tra
nsac
tions
will
not
tak
e pl
ace.
Ver
ify th
at it
onl
y co
nduc
ts b
usin
ess
with
ano
ther
F
SP
tha
t ha
s th
e ap
prop
riate
cat
egor
ies!
su
bcat
egor
ies
on it
s lic
ense
, an
d th
at b
usin
ess
mus
t als
o be
con
duct
ed w
ithin
the
par
amet
ers
of
the
clie
nt m
anda
te,
to e
nsur
e th
at a
ll bu
sine
ss is
le
gitim
ate.
C
heck
tha
t th
ere
are
syst
ems
in p
lace
to
chec
k th
at n
ew p
rodu
cts
or p
ropo
sed
busi
ness
ven
ture
s w
ill m
eet
the
limita
tions
of
the
Ilcen
se r
equi
rem
ents
an
d co
nditi
ons
are.
Inco
rpor
ate
the
reco
rd k
eepi
ng r
equi
rem
ents
whe
n pl
anni
ng s
yste
m u
pdat
es a
nd s
trat
egic
initi
ativ
es.
Ver
ify th
at s
yste
ms
are
in p
lace
to m
an
ag
e th
e re
cord
kee
ping
ris
ks o
f el
ectr
onic
and
tel
epho
nic
tran
sact
ions
.
Ver
ify th
at th
ere
are
syst
ems
and
proc
esse
s th
at
enab
le t
he p
repa
ratio
n an
d de
liver
y of
acc
urat
e qu
arte
rly
repo
rts.
Che
ck t
hat
ther
e is
a p
erso
nal
acco
unt t
radi
ng
polic
y an
d th
at th
ere
are
cont
rols
to
chec
k th
at t
his
is a
dher
ed t
o.
!
(fJ ~ '-l
(fJ 6 m
JJ » z .-1
U1 o ~ CD
m
JJ
I\) o 1il z o w
.... U1
-l>
.j)o
"-.I
No
10
-- 11
Ta
sk
Ap
ply
pro
hib
itio
ns
in t
erm
s o
f th
e D
iscr
etio
na
ry C
od
e o
f C
on
du
ct
Dea
l with
No
min
ee
Re
gu
latio
ns
17
Kn
ow
led
ge
Cri
teri
a
Exp
lain
the
pro
hibi
tions
in t
erm
s o
f the
D
iscr
etio
na
ry C
od
e o
f Con
duct
.
Des
crib
e th
e re
quir
emen
ts o
f the
No
min
ee
R
egul
atio
ns,
and
wh
at
the
FS
P a
nd t
he n
omin
ees
mu
st a
dher
e to
. _ ... _
.. _---
Ski
ll C
rite
ria
i
Ch
eck
th
at t
here
are
pro
cess
es a
nd c
ontr
ols
in
I
plac
e to
ens
ure
tha
t the
FS
P a
dh
ere
s to
th
e
proh
ibiti
ons
in t
erm
s o
f the
Dis
cre
tion
ary
Cod
e o
f C
ondu
ct.
Ch
eck
th
at t
here
are
pro
cess
es a
nd c
ontr
ols
in
plac
e to
ens
ure
tha
t the
FS
P a
dher
es t
o th
e re
quir
emen
ts in
te
rms
of t
he N
om
ine
e R
egul
atio
ns.
.I:>
co z ~
(;)
-'
U1
-' ~ Q o <
m
JJ z s: m
z -i
Q ~ m
:j m
U1 o ~ OJ
m
JJ
£\.) o o co
18
Se
ctio
n 3
: R
E 3
: F
irst
Le
vel
Re
gu
lato
ry E
xam
ina
tio
ri:
Ap
plic
an
ts A
nd
/Or
Key
In
div
idu
als
In C
ate
go
ry II
I
All
appl
ican
ts a
nd
key
indi
vidu
als
perf
orm
ing
finan
cial
se
rvic
es
in
rela
tion
to
cate
gory
III
are
requ
ired
to c
ompl
ete
the
first
lev
el
regu
lato
ry
exam
inat
ion,
bas
ed o
n th
e qu
alify
ing
crite
ria
as p
ublis
hed
in S
ectio
n 1
and
3 of
this
Det
erm
inat
ion.
No
~
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Ski
ll C
rite
ria
~-I A
pply
the
Cat
egor
y III
FS
P
Des
crib
e th
e ch
arac
teris
tics
of a
cat
egor
y III
FS
P
Tak
e th
e di
ffere
nce
betw
een
Cat
egor
y III
FS
PS
i
busi
ness
mod
el
and
how
that
diff
eren
tiate
s it
from
oth
er p
rodu
ct
and
othe
r pr
oduc
t pr
ovid
ers
into
acc
ount
whe
n pr
ovid
ers
such
as
insu
rers
and
uni
t tru
sts.
m
akin
g bu
sine
ss r
elat
ed d
ecis
ions
. - D
escr
ibe
the
reas
on f
or s
epar
atio
n of
clie
nt a
sset
s P
erfo
rm t
he f
iduc
iary
dut
y of
the
cate
gory
III
FS
P.
from
Cat
egor
y III
FS
P's
ass
ets.
-id
entif
y w
hich
ass
ets
belo
ng t
o th
e cl
ient
and
w
hich
bel
ong
to t
he c
ateg
ory
III F
SP
.
Inte
rpre
t bas
ic fi
nanc
ial
syst
ems.
Che
ck t
hat t
here
are
sys
tem
s an
d pr
oces
ses
to
sepa
rate
clie
nt a
nd C
ateg
ory
III F
SP
ass
ets.
c-----
Exp
lain
the
rol
e an
d re
spon
sibi
litie
s of
the
diffe
rent
pa
rtie
s in
volv
ed,
incl
udin
g bu
t not
lim
ited
to:
· di
ffere
nt p
artie
s/ le
gal e
ntiti
es in
volv
ed,
• no
min
ee,
· M
AN
CO
,
· in
sure
rs,
· pe
nsio
n fu
nds,
•
3rd
part
y F
SP
s,
• F
inan
cial
Adv
isor
s,
• br
oker
s,
· cl
ient
s -----
Ver
ify th
at th
ere
are
syst
ems
and
proc
esse
s to
E
xpla
in t
he c
once
pt o
f bu
lkin
g an
d po
olin
g of
as
sets
into
a s
ingl
e ac
coun
t with
inve
stm
ent
allo
w fo
r th
e bu
lkin
g of
clie
nt a
sset
s w
ithou
t
prov
ider
. po
olin
g or
uni
tisat
ion.
(fJ ~ ~ (fJ
/\
o m
:D
:t>
Z
--I
(J1 o ~ co m
:D
f\
) 8 OJ z o w
(J
1 ..
.L
-l'>
+lo
to
19
No
Ta
sk
Kn
ow
led
ge
Cri
teri
a
----
Exp
lain
the
rele
vant
con
trac
tual
agr
eem
ents
nee
d to
be
in p
lace
with
the
rel
evan
t ot
her
part
y.
~
Und
erst
and
the
role
of
the
Exp
lain
the
dut
ies
the
nom
inee
com
pany
is
inde
pend
ent n
omin
ee
resp
onsi
ble
for.
Exp
lain
the
pur
pose
of t
he n
omin
ee c
ompa
ny
3 M
anag
e an
d ov
erse
e cl
ient
_
Exp
lain
why
the
cat
egor
y III
FS
P m
ust u
se
man
date
s m
anda
tes
that
hav
e be
en a
ppro
ved
by
the
FS
B.
-- Exp
lain
why
a m
anda
te c
anno
t be
use
d if
it is
not
ap
prov
ed b
y th
e F
SB
.
Exp
lain
wh
y a
man
date
can
not
be u
sed
if it
is n
ot
sign
ed b
y th
e cl
ient
or
his
duly
aut
horis
ed
repr
esen
tativ
e.
-- E
xpla
in w
hy s
uch
a m
anda
te m
ust
adh
ere
to t
he
requ
irem
ents
in t
he D
iscr
etio
nary
Cod
e of
C
ondu
ct.
Exp
lain
wh
at t
he r
equi
rem
ents
are
for
man
date
s.
----
4 M
anag
e/ov
erse
e ty
pica
l da
ily
Exp
lain
how
diff
eren
t pro
duct
s ha
ve d
iffer
ent
tran
sact
ions
tu
rnar
ound
tim
es a
nd s
houl
d be
adh
ered
to.
Des
crib
e h
ow
ther
e sh
ould
be
adeq
uate
con
trol
s in
pl
ace
to m
anag
e ris
ks.
Exp
lain
how
Cat
egor
y III
FS
PS
are
onl
y al
low
ed t
o
take
in o
ne d
ay's
inte
rest
.
Ski
ll C
rite
ria
Con
firm
tha
t the
rel
evan
t co
ntra
ctua
l agr
eem
ents
ar
e in
pla
ce w
ith t
he r
elev
ant
othe
r pa
rty
and
busi
ness
is c
ondu
cted
in a
ccor
danc
e w
ith t
he
cont
ract
ual
agre
emen
ts.
Ver
ify th
at th
ere
are
proc
esse
s in
pla
ce to
che
ck
that
the
nom
inee
com
pany
exe
cute
s its
' re
spon
sibi
litie
s to
war
ds t
he C
ateg
ory
III F
SP
-re
port
ing
inde
pend
ence
. C
hecx
k th
e no
min
ee c
ompa
ny c
ompl
ies
with
its
dutie
s.
Man
age
clie
nt m
anda
tes
in a
ccor
danc
e to
m
anda
tory
req
uire
men
ts.
--
---
--
Che
ck th
at th
e sy
stem
s an
d pr
oces
ses
enab
le t
he
impl
emen
tatio
n an
d ex
ecut
ion
of d
iffer
ent
turn
arou
nd t
imes
for
diff
eren
t pro
duct
s.
Che
ck th
at t
he s
yste
ms
and
proc
esse
s ha
ve
embe
dded
con
trol
s to
man
age
and
cont
ain
risk.
Che
ck th
at th
e pr
oces
ses
and
syst
ems
only
take
on
e da
y's
inte
rest
. ---
----
---
J
(J1 o z o c..l ~
-l>
G) o <
m
JJ z s:: m
z -I
G) f!:j m
~ m
()1 o ~ CD
m
JJ
I\
) 8 00
20
·NO
l T
ask
K
no
wle
dg
e C
rite
ria
5 .
Man
age
and
over
see
Exp
lain
how
to
ensu
re t
rans
pare
ncy
and
man
age
disc
losu
res
conf
lict o
f in
tere
sts.
6 U
nder
stan
d th
e le
gal
I Exp
lain
the
liq
uidi
ty r
equi
rem
ent.
envi
ronm
ent o
f th
e C
ateg
ory
III
FS
P.
-, Exp
lain
the
im
plic
atio
ns o
f the
liq
uidi
ty
requ
irem
ents
, D
escr
ibe
the
fidel
ity c
over
req
uire
men
ts.
Exp
lain
the
im
plic
atio
ns o
f the
fid
elity
cov
er
requ
irem
ents
.
Des
crib
e th
e ap
plic
able
cap
ita!
requ
irem
ent.
Exp
lain
the
im
plic
atio
ns o
f the
cap
ital
requ
irem
ents
.
~plain w
hy
the
Cat
egor
y III
FS
P is
not
allo
wed
to
enga
ge in
the
net
ting
of tr
ansa
ctio
ns.
rXP
lain
how
a C
ateg
ory
III F
SP
mus
t en
sure
th
at
it on
ly c
ondu
cts
busi
ness
with
ano
ther
FS
P t
ha
t ha
s th
e ap
prop
riat
e ca
tego
ries
/ su
bcat
egor
ies
on it
s lic
ense
, an
d th
at
busi
ness
mus
t al
so b
e co
nduc
ted
with
in t
he p
aram
eter
s of
the
clie
nt m
anda
te
Des
crib
e w
hat
the
cont
inua
l co
mpl
ianc
e w
ith t
he
licen
se r
equi
rem
ents
and
con
ditio
ns a
re.
- 7 A
pply
the
rec
ord
keep
ing
Exp
lain
the
per
iod
for
whi
ch r
ecor
ds m
ust b
e ke
pt.
requ
irem
ents
.
Des
crib
e th
e re
quir
emen
ts s
peci
fical
ly a
pplic
able
to
tele
phon
e an
d/or
ele
ctro
nic
requ
irem
ents
. .-
Ski
ll C
rite
ria
Con
firm
tha
t dis
clos
ures
are
ade
quat
e to
ena
ble
clie
nt's
abi
lity
to m
ake
an
info
rmed
dec
isio
n.
I App
ly th
e liq
uidi
ty r
equi
rem
ents
to
own
busi
ness
.
App
ly th
e fid
elity
req
uire
men
ts t
o ow
n bu
sine
ss.
App
ly th
e ap
plic
able
cap
ital
requ
irem
ents
to
own
\
busi
ness
.
Ver
ify t
hat t
here
are
sys
tem
s in
pla
ce t
o ch
eck
that
ne
tting
of t
rans
actio
ns w
ill n
ot t
ake
plac
e.
Con
firm
tha
t it
only
con
duct
s bu
sine
ss w
ith a
noth
er I
F
SP
tha
t ha
s th
e ap
prop
riate
cat
egor
ies/
.
subc
ateg
orie
s on
its
lice
nse,
and
th
at
busi
ness
m
ust
also
be
cond
ucte
d w
ithin
the
par
amet
ers
of
the
clie
nt m
anda
te,
to e
nsur
e th
at a
ll bu
sine
ss is
le
gitim
ate.
C
heck
tha
t th
ere
are
syst
ems
in p
lace
to
chec
k th
at n
ew p
rodu
cts
or p
ropo
sed
busi
ness
ven
ture
s w
ill m
ee
t the
lim
itatio
ns o
f th
e li
cens
e re
quir
emen
ts
and
cond
ition
s ar
e.
Inco
rpor
ate
the
reco
rd k
eepi
ng r
equi
rem
ents
whe
n pl
anni
ng s
yste
m u
pdat
es a
nd s
trat
egic
initi
ativ
es.
. Ver
ify th
at s
yste
ms
are
in p
lace
to m
anag
e th
e re
cord
kee
ping
ris
ks o
f el
ectr
onic
and
tel
epho
nic
tran
sact
ions
.
I
(j) ~ -I
(j) A o m
:D
::t>
Z
.-1
Q1 o ~ o 1JJ m
JJ
I'J g z o W
Q1 .. Q1 ....
21
No
T
as
k
Kn
ow
led
ge
Cri
teri
a ------
8 C
ompl
y w
ith r
equi
rem
ents
E
xpla
in w
hy
clie
nts
mus
t rec
eive
writ
ten
repo
rts
at
whe
n re
port
ing
to c
lient
s qu
arte
rly
inte
rval
s. t
hat
prov
ide
them
with
in
vest
men
t and
rel
ated
inf
orm
atio
n.
9 A
pply
kno
wle
dge
of t
he
Exp
lain
how
the
acco
untin
g an
d un
it ac
coun
ting
and
unit
reco
ncili
atio
ns w
ork.
re
conc
il lat
ions
1C
) A
pply
kno
wle
dge
of h
ow
Exp
lain
how
inte
rmed
iarie
s m
ust b
e lic
ense
d in
term
edia
ries
mu
st b
e lic
ense
d be
fore
th
ey
can
do b
usin
ess.
be
fore
th
ey
can
do b
usin
ess.
11
Dea
l w
ith r
ebat
es
Exp
lain
how
reb
ates
wor
k.
~pla.rn
all
the
rela
ted
disc
losu
res
as i
t app
lies
to
I
-----
---
Ver
ify th
at tt
-en
able
the
p qu
arte
rly
rer
-----
Ski
ll C
rite
ria
ere
are
syst
ems
and
proc
esse
s th
at
repa
ratio
n an
d de
liver
y o
f acc
urat
e iQ
rts.
----
-
---
(,II
I\) z 9 w
-"
01
-"
-!>
(j) ~ m
:n z s: m
z -l ~ S m
01 o ()
-l o OJ m
:n f\) o o 00
22
Sec
tion
4:
RE
4:
Fir
st L
evel
Re
gu
lato
ry E
xam
inat
ion:
Rep
rese
ntat
ives
(1)
All
repr
esen
tativ
es p
erfo
rmin
g fin
anci
al s
ervi
ces
in r
elat
ion
to c
ateg
ory
I, II,
IIA
and
/or
III a
re r
equi
red
to c
ompl
ete
the
first
lev
el r
egul
ator
y ex
amin
atio
n, b
ased
on
the
qual
ifyin
g cr
iteria
:
No
-r-
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Ski
ll C
rite
ria
1 .
Exe
cute
the
req
uire
d ac
tions
as
Des
crib
e th
e ro
les,
res
pons
ibili
ties
and
App
ly k
now
ledg
e o
f the
rol
e o
f the
rep
rese
ntat
ive
a re
pres
enta
tive,
in
term
s of
the
. re
quir
emen
ts r
egar
ding
rep
rese
ntat
ives
as
defin
ed
in t
erm
s of
the
FA
IS A
ct.
FA
IS A
ct.
in t
he F
AIS
Act
. D
escr
ibe
the
role
and
res
pons
ibili
ties
of th
e ke
y I
indi
vidu
al a
s de
fined
in t
he F
AIS
Act
. E
xpla
in t
he r
equi
rem
ents
for
lic
ensi
ng b
y th
e F
SB
fo
r th
e ro
le o
f th
e re
pres
enta
tive.
E
xpla
in w
hen
an i
ndiv
idua
l is
obl
iged
to
be
regi
ster
ed a
s a
repr
esen
tativ
e in
ter
ms
of F
AIS
. E
xpla
in t
he f
it an
d pr
oper
req
uire
men
ts t
hat a
pply
to
the
rep
rese
ntat
ives
. D
iscu
ss t
he p
urpo
se o
f the
reg
iste
r o
f re
pres
enta
tives
. D
istin
guis
h be
twee
n ad
vice
and
int
erm
edia
ry
serv
ices
in t
erm
s of
the
Act
. E
xpla
in w
hen
repr
esen
tativ
es c
an a
ct u
nder
su
perv
isio
n.
Des
crib
e th
e im
plic
atio
ns i
f a r
epre
sent
ativ
e do
es
not m
ee
t al
l th
e re
quir
emen
ts in
ter
ms
of F
it an
d P
rope
r by
the
rel
evan
t da
te.
Exp
lain
the
rec
ord
keep
ing
requ
irem
ents
in t
erm
s K
eep
reco
rds
in t
erm
s of
the
requ
irem
ents
of
the
of S
ectio
n 18
of
the
FA
IS A
ct a
nd t
he G
ener
al
Act
and
Gen
eral
Cod
e of
Con
duct
. C
ode
of C
ondu
ct.
--- ~nt
ribu
te to
war
ds m
aint
aini
ng
Exp
lain
the
req
uire
men
ts a
FS
P m
ust
me
et t
o A
ssis
t in
mai
ntai
ning
a F
SP
lic
ense
by
exec
utin
g 2.
a
FS
P l
icen
se.
mai
ntai
n a
FS
P li
cens
e.
the
requ
ired
actio
ns a
s a
repr
esen
tativ
e, i
n te
rms
of
Act
. -
Exp
lain
wha
t pr
oces
ses
are
requ
ired
to r
emai
n up
date
d w
ith r
egar
ds t
o ot
her
legi
slat
ion,
am
endm
ents
, up
date
s an
d re
quire
men
ts p
ublis
hed
that
will
aff
ect
the
FS
P.
-
(f) ~ ~ A o m
lJ ~ .:-l
(Jl o ~ OJ
m
lJ
I\) o o co z o (.i) .....
(J
l .....
.;:.
U1
(,)
23
~
Tas
k -------
Kn
ow
led
ge
Cri
teri
a
Exp
lain
wh
at
is m
ea
nt b
y "u
ndes
irabl
e pr
actic
es".
, D
escr
ibe
the
impl
icat
ion
for
a F
SP
if t
he R
egis
trar
pu
blis
hes
a no
tice
rega
rdin
g an
"un
desi
rabl
e bu
sine
ss p
ract
ice"
. -~~~
Exp
lain
the
rep
arat
ion
mea
sure
s av
aila
ble
to t
he
Reg
istr
ar i
f a F
SP
con
tinue
s w
ith u
ndes
irabl
e bu
sine
ss p
ract
ices
. D
iscu
ss t
he r
equi
rem
ents
of t
he A
ct a
roun
d th
e ~ay o
f lic
ence
s.
. E
xpla
in t
he r
easo
ns w
hy a
lice
nse
can
be
susp
ende
d or
with
draw
n.
Exp
lain
wh
at
reco
urse
a F
SP
has
in a
cas
e w
here
its
lic
ense
has
bee
n su
spen
ded
or w
ithdr
awn.
D
iscu
ss t
he r
easo
ns w
hy a
FS
P w
ould
lap
se a
lic
ense
. ---C
--"
Des
crib
e h
ow
laps
ing
a lic
ense
diff
ers
from
su
spen
sion
or
with
draw
als.
D
escr
ibe
the
cond
ition
s un
der
whi
ch a
lice
nse
can
be r
eins
tate
d.
Des
crib
e th
e co
nditi
ons
unde
r w
hich
i
rein
stat
emen
ts o
f au
thor
isat
ion
ma
y be
im
pose
d.
Des
crib
e th
e r
ole
and
pow
ers
of th
e O
mbu
d.
~ A
dher
e to
the
spe
cific
E
xpla
in t
he o
blig
atio
ns a
nd r
equi
rem
ents
whe
n ob
ligat
ions
in t
erm
s o
f the
cl
ient
fund
s o
r pr
emiu
ms
are
rece
ived
. re
leva
nt C
od
e o
f C
ondu
ct a
nd
Exp
lain
the
im
port
ance
of
disc
losu
res.
ot
her
subo
rdin
ate
legi
slat
ion.
D
iscu
ss t
he i
mpa
ct a
nd r
equi
rem
ents
reg
ardi
ng
the
disc
losu
re r
ules
on
the
FS
P.
Dis
cuss
the
eff
ect o
f di
sclo
sure
req
uire
men
ts o
n co
mm
issi
on is
exp
lain
ed w
ith r
efer
ence
to
line
of
busi
ness
and
spe
cific
pro
duct
/pol
icy.
D
escr
ibe
the
disc
losu
re r
equi
rem
ents
reg
ardi
ng
the
FS
P,
prod
uct s
uppl
iers
, pr
oduc
t sup
plie
rs
actin
q as
FS
Ps
and
finan
cial
ser
vice
s.
L~~ ..
. -----
Ski
ll C
rite
ria
Che
ck t
hat
exec
utiv
es o
f du
ties
and
actio
ns d
o no
t co
nstit
ute
unde
sira
ble
busi
ness
pra
ctic
es.
-------
Com
ply
with
any
req
uire
men
ts t
he O
mbu
d m
ay
ha
"e in
the
eve
r:lt o
f an
inv
estig
atio
n.
Adh
ere
to t
he r
equi
rem
ents
of t
he C
od
e w
hen
depo
sitin
g cl
ient
's m
onie
s.
Use
dis
clos
ures
that
are
ade
quat
e to
ena
ble
clie
nt's
abi
lity
to m
ake
an i
nfor
med
dec
isio
n.
App
ly th
e re
quire
men
ts o
f the
Gen
eral
Cod
e of
C
ondu
ct.
. A
pply
dis
Clo
sure
re
qu
ire
me
nts
inte
rms
of fi
nanc
ial
prod
ucts
.
CJ1 Ja z !=' w
.....
01
.....
.j:> G) o <
m
Jl z s:: m
z -I
G) ~ 1 rn 01 o § III m
Jl
I\l o o co
24
-N
o T
ask
K
no
wle
dg
e C
rite
ria
--
Dis
cuss
ho
w to
ens
ure
tran
spar
ency
and
man
age
conf
lict o
f in
tere
sts.
D
istin
guis
h be
twee
n ac
tions
reg
arde
d as
adv
ice
and
inte
rmed
iary
ser
vice
s in
ter
ms
of th
e A
ct.
Des
crib
e th
e co
ncep
t of e
thic
al c
ondu
ct in
the
fin
anci
al s
ervi
ces
envi
ronm
ent.
Dis
cuss
you
r ro
le i
n te
rms
of e
thic
al c
ondu
ct in
the
~ncial s
ervi
ces
envi
ronm
ent.
I E
xpla
in t
he m
anne
r in
whi
ch c
ompl
aint
s ar
e to
be
i ha
ndle
d by
the
indu
stry
with
ref
eren
ce t
o th
e F
AIS
G
ener
al C
ode
of C
ondu
ct.
Exp
lain
the
ste
ps t
hat
mus
t be
tal
-<en
by
a F
SP
I re
pres
enta
tives
whe
n pr
ovid
ing
advi
ce.
!--E
xpla
in t
he p
rovi
sion
s o
f th
e G
ener
al C
ode
rela
ting
to: ·
cust
ody,
· co
mpl
aint
s,
· ris
k m
anag
emen
t, •
insu
ranc
e,
• ad
vert
isin
g an
d •
term
inat
ion.
i-
----
--A
pply
kno
wle
dge
of f
inan
cial
P
rovi
de a
n ov
ervi
ew o
f th
e di
ffere
nt t
ypes
of
4.
prod
ucts
. fin
anci
al s
ervi
ces
and
finan
cial
pro
duct
s a
FS
P c
an
deal
with
. E
xpla
in t
he r
elat
ions
hip
betw
een
diff
eren
t ind
ustr
y
I---
play
ers.
5.
A
war
enes
s of
con
sequ
ence
s D
iscu
ss t
he p
urpo
se o
f de
barm
ent.
for
repr
esen
tativ
es t
ha
t ha
ve
been
fou
nd t
o ac
t fra
udul
ently
, or
com
mitt
ed a
ny o
ther
act
tha
t D
escr
ibe
the
reas
ons
wh
y de
barm
ent
wou
ld b
e gi
ves
rise
to d
ebar
men
t.
cons
ider
ed.
Dis
cuss
the
proc
ess
tha
t w
ould
be
follo
wed
in
such
ins
tanc
es.
---
Ski
ll C
rite
ri,
Beh
ave
ethi
cally
whe
n pr
ovid
ing
finan
cial
ser
vice
s w
ithin
the
fin
anci
al s
ervi
ces
envi
ronm
ent.
Pro
vide
an
exam
ple
of
ethi
cal v
s. u
neth
ical
co
nduc
t in
the
fin
anci
al s
ervi
ces
envi
ronm
ent.
Fol
low
the
com
plai
nts
proc
edur
es a
nd p
roce
sses
th
at a
re in
pla
ce.
App
ly k
now
ledg
e of
the
finan
cial
pro
duct
s an
d ro
le
play
ers
with
in t
he f
inan
cial
ser
vice
s en
viro
nmen
t.
Che
ck th
at th
e em
ploy
men
t! m
anda
tory
agr
eem
ent
with
rep
rese
ntat
ives
inc
lude
the
reas
ons
for
poss
ible
deb
arm
ent.
OJ ~ :..
.j OJ 6 m
lJ » z .-1
()1
o ~ Cll m
lJ
I\) o o co z o w
()1
.... .,. ClI
ClI
25
..
No
Ta
sk
Kn
ow
led
ge
Cri
teri
a
i E
xpla
in w
hat
reco
urse
a r
epre
sent
ativ
e m
ay h
ave.
Exp
lain
the
pro
cess
and
tim
efra
me
in w
hich
the
FS
P s
houl
d no
tify
the
Reg
istr
ar t
hat
a re
pres
enta
tive
has
been
deb
arre
d.
6.
Alig
n ex
ecut
ion
of d
utie
s an
d D
escr
ibe
the
role
and
fun
ctio
n of
a C
ompl
ianc
e ac
tions
with
the
com
plia
nce
Offi
cer.
re
quire
men
ts.
7.
Car
ry o
ut t
he p
rope
r re
cord
E
xpla
in t
he r
ecor
d ke
epin
g ob
ligat
ions
as
impo
sed
keep
ing
activ
ities
. by
the
FA
IS A
ct.
Exp
lain
the
req
uire
men
ts r
egar
ding
the
m
aint
enan
ce o
f re
cord
s in
ter
ms
of t
he F
AIS
Act
. E
xpla
in t
he r
equi
rem
ents
reg
ardi
ng r
ecor
ds a
nd
the
mai
nten
ance
the
reof
in t
erm
s of
oth
er
appl
icab
le le
gisl
ativ
e re
quire
men
ts,
incl
udin
g F
ICA
. I--
cc, ..
i
Des
crib
e th
e re
quire
men
ts i
mpo
sed
whe
n re
cord
ke
epin
g is
out
sour
ced
to a
third
par
ty.
Exp
lain
in w
hat f
orm
at
the
reco
rds
shou
ld b
e st
ored
and
ret
rieve
d in
acc
orda
nce
to t
he in
dust
ry
stan
dard
. ~ .. -....
Exp
lain
wha
t the
sec
urity
req
Uire
men
ts f
or t
hese
re
cord
s ar
e in
ter
ms
of c
onfid
entia
lity
and
acce
ss
to r
ecor
ds.
a A
dher
e to
the
req
uire
men
ts o
f E
xpla
in w
hat
FIC
A g
over
ns a
nd r
equi
res.
F
ICA
and
oth
er r
elev
ant
anti-
Des
crib
e h
ow
the
FS
P is
impa
cted
by
FIC
A.
mon
ey la
unde
ring
legi
slat
ion,
as
it
appl
ies
to t
he F
SP
.
Ski
ll C
rite
ria
Con
firm
tha
t w
here
the
com
plia
nce
offic
er fo
und
any
inst
ance
s of
non
-com
plia
nce
that
this
is
addr
esse
d an
d re
ctifi
ed.
Fol
low
the
proc
esse
s in
pla
ce t
o pr
ovid
e th
e m
anag
emen
t inf
orm
atio
n th
at is
req
uire
d to
co
mpl
ete
the
repo
rts
in t
erm
s of
legi
slat
ion.
Exe
cute
the
thi
rd p
arty
out
sour
cing
ag
ree
me
nt
corr
ectly
whe
re a
eelic
able
. C
arry
out
the
reco
rd k
eepi
ng f
unct
iona
lity
corr
ectly
, in
clud
ing
retr
ieva
l of
rec
ords
.
-----
Com
ply
with
the
ide
ntifi
catio
n, v
erifi
catio
n, r
ecor
d-ke
epin
g an
d re
port
ing
oblig
atio
ns u
nder
Act
no.
38
of 2
001
CJ1
Q) z o w
.....
01 .... ... Q o <
m
JJ z ~ m
z -I
Q ~ 9 m
.....
01 o ~ OJ m
JJ
N o o OJ
26
Sec
tion
5:
RE
5:
Sec
ond
Leve
l Re
gu
lato
ry E
xam
inat
ion:
Lon
g T
erm
Ins
uran
ce C
ateg
ory
A a
nd C
ateg
ory
IV
(1)
Ap
plic
an
ts a
nd K
ey
Ind
ivid
ua
ls i
n re
latio
n to
Ca
teg
ory
I,
sub
cate
go
rie
s 1:
1 Lo
ng-t
erm
In
sura
nce
cate
go
ry A
and
ca
teg
ory
IV
are
als
o re
quir
ed t
o co
mp
lete
the
se
con
d le
vel r
eg
ula
tory
exa
min
atio
n, L
ong-
term
Ins
uran
ce c
ate
go
ry A
and
Ca
teg
ory
A
ll re
pre
sen
tativ
es
pe
rfo
rmin
g f
inan
cial
ser
vice
s in
rel
atio
n to
ca
teg
ory
I, s
ub
cate
go
ry 1
.1 L
ong
Te
rm In
sura
nce
Ca
teg
ory
A a
re r
equi
red
to
com
ple
te a
fir
st l
evel
re
gu
lato
ry e
xam
inat
ion,
ba
sed
on
the
qua
lifyi
ng c
rite
ria
as i
t ap
pear
s in
Sec
tion
4 an
d a
seco
nd l
evel
reg
ulat
ory
exam
inat
ion
ba
sed
on
the
qual
ifyin
g cr
iteri
a in
Se
ctio
n 5
; (3
) E
xam
ina
tion
b
od
ies
ha
ve t
he
dis
cre
tion
ary
pow
ers
to o
ffer
a c
om
bin
atio
n
exam
inat
ion
for
repr
esen
tativ
es
wor
king
w
ith
Long
T
erm
In
sura
nce
Ca
teg
ory
A,
wh
ere
su
ch r
epre
sent
ativ
es m
ay
cho
ose
to
com
plet
e on
e ex
amin
atio
n th
at a
dd
ress
es
the
qu
alif
yin
g c
rite
ria
as i
t ap
pear
s in
Se
ctio
ns
4 an
d 5;
(4
) T
he
qu
alif
yin
g c
rite
ria
in S
ectio
n 4
and
Sec
tion
5 se
rve
as
the
crite
ria
agai
nst
whi
ch q
ua
lific
atio
ns
will
be
eval
uate
d fo
r in
clus
ion
on t
he l
ist
of
reco
gnis
ed q
ualif
icat
ions
.
No
Ta
sk
1.
Iin
for
Long
1 a
clie
nt
in t
erm
s of
a
2.
term
Ca
teg
ory
A p
rodu
ct.
Edu
claim
-
3.te
a
clie
nt
ab
ou
t th
e
proc
edur
es.
Kn
ow
led
ge
Cri
teri
a
Exp
lain
wh
at
fun
era
l in
sura
nce
co
ver
is a
nd w
ha
t it
cove
rs.
Exp
lain
the
exc
lusi
ons,
rul
es a
nd r
egul
atio
ns o
f th
e pr
oduc
t.
I D
esc
rib
e t
he w
aitin
g pe
riod
s an
d w
hen
it ap
plie
s.
Exp
lain
the
lim
its r
elat
ing
to w
ho
is c
over
ed in
te
rms
of t
he
legi
slat
ive
age.
D
esc
rib
e th
e pr
edef
ined
po
licy
pa
ram
ete
rs in
te
rms
of
cove
r, i
nclu
ding
bu
t n
ot l
imite
d to
:
· fa
mily
de
pe
nd
an
ts,
• ch
ildre
n,
· sp
ouse
s.
Exp
lain
th
e d
iffe
ren
t typ
es o
f gro
ups
and
lega
l/ co
ntra
ctua
l re
qu
ire
me
nts
/lim
itatio
ns.
E
xpla
in t
he le
ga
l/ co
ntra
ctua
l ob
ligat
ion
rega
rdin
g p
rem
ium
s an
d w
hen
cove
r fa
lls a
way
. D
esc
rib
e t
he
co
nta
ct d
etai
ls a
nd c
laim
s pr
oced
ures
.
I f---.-
Ski
ll C
rite
ria
Info
rm t
he c
lient
wh
at
will
be
cove
red
by
the
long
-te
rm c
ateg
ory
A p
rodu
ct.
Exp
lain
th
e e
xclu
sion
s to
the
clie
nt in
the
eve
nt o
f ce
rtai
n pr
e-de
fined
cov
ers.
Info
rm t
he c
lient
of t
he a
pplic
able
wa
itin
g p
erio
ds.
Cla
rify
the
lim
its o
f th
e co
ver
prov
ided
by
the
po
licy
to t
he
clie
nt.
. In
form
the
clie
nt w
ho c
an b
e co
vere
d u
nd
er
the
polic
y.
Ed
uca
te a
gro
up w
ha
t th
ey
can
do r
egar
ding
the
fu
nera
l co
ver
& p
olic
ies
with
the
ir m
em
be
rs.
Info
rm t
he c
lient
of t
he
co
nse
qu
en
ces
if m
on
thly
pr
emiu
ms
are
not
paid
. S
ho
w th
e cl
ient
ho
w th
e cl
aim
s p
roce
ss w
ork
s an
d w
ha
t d
ocu
me
nts
are
req
uire
d.
Info
rm t
he c
lien
t who
to
cont
act,
and
ho
w q
uic
kly
the
y sh
ould
do
this
aft
er
the
dea
th o
f th
e in
sure
d pe
rson
.
I
(f) ~ ~ (f) A o m
:0 » z ,;-
I
(J1 o a OJ
m
:0
I\
) a a OJ z o w
-'
(J1
-'
.j>.
01
-..j
27
I No
Tas
k K
no
wle
dg
e C
rite
ria
,3,
I A
dher
e to
re
cord
ke
epin
g E
xpla
in w
hy c
opie
s o
f pol
icie
s th
at h
ave
been
sol
d I
. requ
irem
ents
as
it
appl
ies
to
shou
ld b
e ke
12t.
I fu
nera
l in
sura
nce
polic
ies.
E
xpla
in w
hy
a su
mm
ary
of th
e po
licy
docu
men
t sh
ould
be
prov
ided
to
the
clie
nt.
14 :
Adh
ere
to t
he G
ener
al C
ode
of
i E
xpla
in t
he d
iscl
osur
e re
quire
men
ts in
ter
ms
of th
e C
ondu
ct d
iscl
osur
e I
Gen
eral
Cod
e of
Con
duct
. I
requ
irem
ents
. I
15 .
'I
App
ly k
now
ledg
e in
the
wor
k !
Des
crib
e th
e ro
le o
f the
und
erw
riter
and
whe
n th
e co
ntex
t o
f the
rel
atio
nshi
p po
licy
wou
ld b
e va
lid (
legi
timat
e).
betw
een
the
FS
P,
the
unde
rwrit
er,
adm
inis
trat
or a
nd
Exp
lain
wha
t the
und
erw
rite
r do
es r
egar
ding
ris
k to
th
e cl
ient
. th
e bu
sine
ss a
nd t
he c
lient
.
--
6.
App
ly k
now
ledg
e of
the
role
of
. E
xpla
in t
he p
roce
ss in
the
eve
nt o
f a
clie
nt
the
Om
bud
I O
mb
ud
sma
n
com
plai
ning
. re
gard
ing
com
plai
nts.
E
xpla
in t
he r
ole
of t
he F
AIS
Om
bud
and
the
Life
O
mbu
dsm
an a
nd w
hat
they
do
whe
n th
ere
is a
co
mpl
aint
.
Ski
ll C
rite
ria
Ver
ify th
at th
e ad
min
istr
ator
s ar
e ke
epin
g co
pies
of
the
fune
ral
insu
ranc
e po
licie
s so
ldl i
ssue
d.
Pro
vide
the
clie
nt w
ith a
sum
mar
y o
f the
pol
icy
I do
cum
ent.
. A
pply
the
dis
clos
ure
requ
irem
ents
w
hen
selli
ng a
I
fune
ral
insu
ranc
e po
licy
to a
clie
nt.
I
Edu
cate
the
clie
nt in
ter
ms
of fa
ctor
s he
lshe
sho
uld
be a
war
e of
.
Edu
cate
the
clie
nt in
ter
ms
of r
isks
tha
t sh
ould
be
avoi
ded.
Edu
cate
the
clie
nt in
ter
ms
of t
he r
ole
of th
e O
mbu
d I
/ O
mbu
dsm
an r
egar
ding
com
plai
nts.
.
U1
Q) z ~ w
<.n
.....
-I> Gl ~ m
lJ
z S;
m
z -l
Gl f:j 9 J11
<.n o § CD
m
lJ
I\) o o Q)
28
Se
ctio
n 6
: R
E 6
: S
eco
nd
Le
vel
Re
gu
lato
ry E
xam
ina
tion
: S
ho
rt A
nd
Lo
ng
Ter
m D
ep
osi
ts
(1 )
(2)
(3)
No.
-
All
repr
esen
tativ
es p
erfo
rmin
g fin
anci
al s
ervi
ces
in r
elat
ion
to c
ateg
ory
I, su
bcat
egor
ies
Sho
rt a
nd L
ong
Ter
m D
epos
its a
re r
equi
red
to
com
plet
e a
first
lev
el r
egul
ator
y ex
amin
atio
n, b
ased
on
the
qual
ifyin
g cr
iteria
as
it ap
pear
s in
Sec
tion
4 an
d a
seco
nd l
evel
reg
ulat
ory
exam
inat
ion
base
d on
the
qua
lifyi
ng c
riter
ia in
Sec
tion
6;
Exa
min
atio
n bo
dies
ha
ve t
he d
iscr
etio
nary
pow
ers
to
offe
r a
com
bina
tion
exam
inat
ion
for
repr
esen
tativ
es
wor
king
w
ith
Cat
egor
y I,
subc
ateg
orie
s S
hort
and
Lon
g T
erm
Dep
osits
, w
here
suc
h re
pres
enta
tives
may
cho
ose
to c
ompl
ete
one
exam
inat
ion
that
add
ress
es t
he
qual
ifyin
g cr
iteria
as
it ap
pear
s in
Sec
tions
4 a
nd 6
; T
he q
ualif
ying
crit
eria
in S
ectio
n 4
and
Sec
tion
6 se
rve
as t
he c
riter
ia a
gain
st w
hich
qua
lific
atio
ns w
ill b
e ev
alua
ted
for
incl
usio
n on
the
lis
t o
f rec
ogni
sed
qual
ifica
tions
.
TA
SK
K
NO
WL
ED
GE
CR
ITE
RIA
S
KIL
L C
RIT
ER
IA
1 .
! Per
form
a n
eeds
ana
lysi
s.
I
Des
crib
e th
e m
echa
nism
(fe
atur
es a
nd b
enef
its)
of:
Dev
elop
an
unde
rsta
ndin
g o
f the
clie
nt's
fin
anci
al
· pr
oduc
ts,
situ
atio
n an
d ne
eds.
· in
tere
st r
ates
, •
pric
ing,
Id
entif
y th
e co
mpl
exity
of t
he c
lient
fin
anci
al s
tatu
s an
d ne
ed t
o in
vest
. "
perio
d.
Dis
cuss
the
var
ious
fin
anci
al s
olut
ions
ava
ilabl
e to
Id
entif
y th
e cl
ient
's p
rodu
ct a
nd i
nves
tmen
t ne
eds,
a
clie
nt in
clud
ing
but
not l
imite
d to
: w
ants
, pr
efer
ence
s an
d ob
ject
ives
.
" liq
uidi
ty,
. le
ngth
of d
epos
it,
Pro
pose
an
appr
opria
te f
inan
cial
sol
utio
n.
. in
tere
st in
com
e re
quire
men
ts
2.
Cal
cula
te i
nter
est
on a
dep
osit.
E
xpla
in h
ow in
tere
st is
cal
cula
ted
on d
epos
its.
Per
form
tim
e va
lue
calc
ulat
ions
in t
erm
s of
a
finan
cial
dep
osit.
Exp
lain
the
diff
eren
ce b
etw
een
nom
inal
and
In
form
the
clie
nt o
n ac
tual
and
/or
pote
ntia
l in
tere
st
effe
ctiv
e in
tere
st r
ates
. ea
rnin
gs o
n a
depo
sit.
Dis
cuss
the
diff
eren
ce b
etw
een
nom
inal
and
In
form
the
clie
nt o
n th
e re
turn
on
inve
stm
ent o
n a
effe
ctiv
e in
tere
st r
ates
. sp
ecifi
c de
posi
t pro
duct
. ----
Com
mun
icat
e pr
icin
g, f
ees
and
Dis
cuss
the
diff
eren
ce b
etw
een
pric
ing,
fee
s an
d E
duca
te t
he c
lient
reg
ardi
ng t
he p
ricin
g, f
ees
and
3.
com
mis
sion
s to
clie
nts.
co
mm
issi
ons.
co
mm
issi
ons
paya
ble
for
the
vario
us d
epos
it pr
oduc
ts.
Exp
lain
the
rel
evan
t priC
ing
rele
vant
to e
ach
\ pr
oduc
t cat
egor
y.
, --
--
(j) ~ '-l
(j) A o m
:0
;t> z _-1
.....
(J1 o ~ co m
:0
!I.l o o co z o (;l .... (J1
.j:.
(J1 10
29
Noof
TA
SK
---
KN
OW
LE
DG
E C
RIT
ER
IA
Exp
lain
the
rel
evan
t fee
s re
leva
nt to
eac
h pr
oduc
t ca
tego
ry.
Exp
lain
the
rel
evan
t co
mm
issi
on r
elev
ant t
o ea
ch
-L
pr
oduc
t ca
tego
ry.
4.
Com
mun
icat
e th
e va
rious
E
xpla
in t
he d
iffer
ence
bet
wee
n a
bank
dep
osit
and
inve
stm
ent p
rodu
ct o
ptio
ns t
o de
posi
ts in
the
for
m o
f in
vest
men
ts.
the
clie
nt in
rel
atio
n to
de
posi
ts.
List
the
type
s of
gen
eric
inve
stm
ent p
rodu
cts
avai
labl
e in
rel
atio
n to
dep
osits
. D
iscu
ss t
he b
enef
its o
f us
ing
a ge
neric
inve
stm
ent
prod
uct
in r
elat
ion
to a
dep
osit
prod
uct.
Dis
cuss
und
er w
hich
circ
umst
ance
s a
gene
ric
inve
stm
ent p
rodu
ct w
ill b
e m
ore
suita
ble
for
a cl
ient
.
5.
Com
mun
icat
e th
e di
ffer
ent
Iden
tify
the
vari
ous
depo
sit
prod
uct
cate
gorie
s (e
.g.
prod
uct
cate
gori
es t
o t
he
savi
ngs,
tra
nsac
tion
& in
vest
men
ts).
cl
ient
. D
iscu
ss t
hese
var
ious
dep
osit
prod
uct
cate
gorie
s in
te
rms
of:
• fe
atur
es
• be
nefit
s
· pr
oduc
t ru
les
~
Com
ply
with
dis
clos
ure
Dis
cuss
wha
t dis
clos
ure
requ
irem
ents
sho
uld
be
requ
irem
ents
. m
et w
hen
advi
sing
a c
lient
in t
erm
s of
a d
epos
it pr
oduc
t, in
clud
ing
but
not l
imite
d to
: •
prod
uct d
iscl
osur
es,
• di
sclo
sure
s ab
out f
ees,
•
pric
ing,
•
early
With
draw
al,
• pe
nalti
es,
• in
tere
st r
ates
and
· st
atus
of
the
repr
esen
tativ
es.
SK
ILL
CR
ITE
RIA
Edu
cate
the
clie
nt r
egar
ding
gen
eric
inve
stm
ent
prod
ucts
in r
elat
ion
to d
epos
it pr
oduc
ts.
Edu
cate
the
clie
nt r
egar
ding
var
ious
dep
osit
prod
uct c
ateg
orie
s in
rel
atio
n to
the
clie
nt's
nee
ds.
Dis
clos
e th
e re
leva
nt p
rodu
ct in
form
atio
n to
the
cl
ient
.
---
Ol
C z p '" .....
01
.....
.j:>. G) o <
m
JJ z s: m
z -i
G) f:j m
:j
Jl1
01 o ~ o to
m
JJ
i\) o o co
No.
TA
SK
7.
Adh
ere
to t
he r
equi
rem
ents
of
the
Spe
cific
Cod
e o
f C
ondu
ct
for
Sho
rt-t
erm
Dep
osit
Bus
ines
s.
I .8.
. A
pply
his
/her
und
erst
andi
ng o
f
\
the
Sou
th A
fric
an f
inan
cial
and
ec
onom
ic c
onte
xt in
rel
atio
n to
pr
oduc
t ca
tego
ry.
9.
App
ly a
bas
ic u
nder
stan
ding
of
Life
Ins
uran
ce a
nd s
cope
of
Insu
ranc
e in
Sou
th A
fric
a.
30
KN
OW
LE
DG
E C
RIT
ER
IA
Dis
cuss
the
requ
irem
ents
of t
he C
ode
in t
erm
s of
:
· U
nsol
icite
d co
ntac
ting
of c
lient
s
· G
ener
al d
utie
s o
f the
pro
vide
r •
Con
trac
tual
ter
ms
and
cond
ition
s •
Dut
ies
rega
rdin
g fu
rnis
hing
adv
ice
to c
lient
s
· D
etai
ls o
n a
cco
un
t ope
ratio
n e
Con
fiden
tialit
y an
d pr
ivac
y •
Adv
ertis
ing
q C
ompl
aint
res
olut
ion
proc
esse
s
· W
aiv
er
of r
ight
s D
iscu
ss t
he f
ollo
win
g:
· T
he
orig
ins
of
mon
ey,
• ba
nkin
g an
d th
e ba
nkin
g sy
stem
(in
clud
ing
the
natio
nal p
aym
ent
syst
em a
nd m
oney
cre
atio
n).
Exp
lain
the
int
eres
t rat
e tr
ends
in t
he S
outh
Afr
ican
e
con
om
y in
rel
atio
n to
the
dep
osit
prod
uct.
Exp
lain
wha
t in
tere
st r
ates
are
.
"i::J
rscu
ss w
hy it
is i
mpo
rtan
t whe
n gi
ving
adv
ice
on
depo
sit p
rodu
cts.
-Dis
cuss
the
rol
e of
ban
king
with
in t
he S
outh
Afr
ican
ec
onom
y, i
nclu
ding
but
no
t lim
ited
to:
• in
tere
st r
ates
,
· ris
k an
d
· ec
onom
ic in
dica
tors
E
xpla
in t
he i
mpa
ct o
f the
SA
eco
nom
y, r
ate
and
risks
on
the
prod
uct
sele
ctio
n.
Exp
lain
the
int
eres
t rat
es a
nd p
rodu
ct r
isks
rel
ated
to
the
pro
duct
cat
egor
ies
clea
rly.
Exp
lain
brie
fl w
hat
the
vario
us li
fe in
sura
nce
optio
ns a
re w
ithin
the
Sou
th A
fric
an c
onte
xt.
SK
ILL
CR
ITE
RIA
Co
mp
ly w
ith t
he S
peci
fic C
ode
of
Con
duct
for
Sho
rt-t
erm
Dep
osit
Bus
ines
s w
hen
givi
ng a
dvic
e in
de
posi
t pr
oduc
ts.
Ren
der
finan
cial
ser
vice
s, k
eepi
ng t
he S
outh
A
fric
an e
cono
mic
con
text
in m
ind
as i
t rel
ates
to
depo
sit p
rodu
cts.
--
---
-
(j) ~ '-l
(j) /\ o m
JJ » z _-1
()1
o ~ OJ
m
JJ
f\) o o (X) z o w
()1
-I>
en ...
31
No
. T
AS
K
KN
OW
LE
DG
E C
RIT
ER
IA
Dis
cuss
whe
n a
clie
nt w
ould
req
uire
life
insu
ranc
e.
I----~~ I----~
10.
Det
erm
ine
the
clie
nts
need
for
E
xpla
in th
e pr
inci
ples
of
insu
ranc
e in
clud
ing:
in
sura
nce.
•
the
conc
epts
of
insu
rabl
e in
tere
st,
· in
sura
ble
risk,
•
du
ty o
f dis
clos
ure,
•
inde
mni
ty,
· av
erag
e,
• co
mpe
nsat
ion,
•
subr
ogat
ion,
· pr
oxim
ate
caus
e,
· co
ntrib
utio
n.
Dis
cuss
the
pol
icy
wor
ding
/s in
clud
ing:
· th
e co
ncep
t of
exc
ess,
· un
derw
ritin
g cr
iteria
and
•
type
s o
f pe
rils.
D
escr
ibe
the
bene
fits
offe
red
by
rele
vant
pro
duct
s.
Exp
lain
the
diff
eren
t lin
es o
f in
sura
nce.
I ExP
iain
th
e d
ITto
rent
typ
es o
f co
ver
(inc
ludi
ng s
elf
insu
ranc
e) a
vaila
ble
in r
elat
ion
to t
he i
mpl
icat
ions
an
d be
nefit
s th
ereo
f. .
Des
crib
e w
hat
spec
ific
cont
ract
ual
oblig
atio
ns t
he
clie
nt m
ay
be r
espo
nsib
le fo
r.
Iden
tify
the
poss
ible
are
as o
f ris
k to
whi
ch t
he c
lient
I m
ight
be
expo
sed.
SK
ILL
CR
ITE
RIA
App
ly th
e pr
inci
ples
of
insu
ranc
e w
hen
dete
rmin
ing
the
clie
nt's
nee
d fr
o in
sura
nce.
Gat
her
rele
vant
info
rmat
ion
by
com
plet
ing
a qu
estio
nnai
re w
here
app
licab
le.
Est
ablis
h th
e in
sura
ble
inte
rest
, pr
evio
us c
laim
s lo
ss h
isto
ry,
prev
ious
ins
uran
ce a
nd p
erso
nal
finan
cial
sta
tus
of t
he c
I ien
t.
Rec
ord
rele
vant
info
rmat
ion.
~-~
~-~
01
I\l z o w ... 01
..... ~
(j) o <
m
JJ z 5:
m
z -l
(j) f:j 9 m
01 o () d II
I m
JJ
I\l 8 (X)
32
Sec
tion
7:
RE
7:
Sec
ond
Leve
l R
egul
ator
y E
xam
ina
tion
: Lo
ng T
erm
Ins
uran
ce C
ateg
ory
B,
C a
nd R
etai
l P
ensi
on F
unds
(1
) (2)
(3)
No.
f-
---.
1.
!--:-
. 2.
All
repr
esen
tativ
es p
erfo
rmin
g fin
anci
al s
ervi
ces
in r
elat
ion
to c
ateg
ory
I, su
bcat
egor
y 1.
3 Lo
ng T
erm
Ins
uran
ce C
ateg
ory
B,
1.4
Long
-ter
m
Insu
ranc
e C
ateg
ory
C a
nd
1.5
Ret
ail
Pen
sion
B
enef
its a
re
requ
ired
to
com
plet
e a
first
lev
el
regu
lato
ry
exam
inat
ion,
ba
sed
on
the
qual
ifyin
g cr
iteri
a as
it
appe
ars
in S
ectio
n 6
and
a se
cond
lev
el r
egul
ator
y ex
amin
atio
n ba
sed
on t
he q
ualif
ying
crit
eria
in
Sec
tion
4 an
d S
ectio
n 7;
E
xam
inat
ion
bodi
es
have
the
dis
cret
iona
ry p
ower
s to
of
fer
a co
mbi
natio
n ex
amin
atio
n fo
r re
pres
enta
tives
wor
king
w
ith
Long
T
erm
In
sura
nce
Cat
egor
y B
, Lo
ng
Ter
m
Insu
ranc
e C
ateg
ory
C
and
Ret
ail
Pen
sion
B
enef
its
whe
re
such
re
pres
enta
tives
m
ay
choo
se t
o co
mpl
ete
one
exam
inat
ion
that
add
ress
es t
he q
ualif
ying
cri
teri
a as
it a
ppea
rs in
Sec
tions
4 a
nd 7
; T
he q
ualif
ying
crit
eria
in S
ectio
n 4
and
Sec
tion
7 se
rve
as t
he c
riter
ia a
gain
st w
hich
qua
lific
atio
ns w
ill b
e ev
alua
ted
for
incl
usio
n on
the
lis
t of
rec
ogni
sed
qual
ifica
tions
.
Tas
k K
no
wle
dg
e C
rite
ria
S
kill
Cri
teri
a
Est
ablis
h an
d de
fine
a D
escr
ibe
how
the
FA
IS C
ode
of C
ondu
ct is
app
lied
Pro
vide
dis
clos
ures
to c
lient
s.
prof
essi
onal
rel
atio
nshi
p w
ith
whe
n pr
ovid
ing
finan
cial
adv
ice
to a
clie
nt.
your
clie
nt.
Dis
cuss
the
dis
clos
ures
tha
t sh
ould
be
mad
e to
"Ga
the
r in
form
atio
n in
ord
er to
cl
ient
s, b
oth
upfr
ont a
nd o
ngoi
ng.
Dis
cuss
the
impo
rtan
ce a
nd p
urpo
se o
f P
erso
nal
cond
uct
a ba
sic
need
s F
inan
cial
Pla
nnin
g an
alys
is f
or a
clie
nt.
f--D
iscu
ss t
he i
mpo
rtan
ce a
nd p
urpo
se o
f In
vest
men
t
~anning
Dis
cuss
the
impo
rtan
ce a
nd p
urpo
se o
f R
isk
Man
agem
ent
Dis
cuss
the
impo
rtan
ce a
nd p
urpo
se o
f R
etire
men
t P
lann
ing.
I D
iscu
ss th
e im
port
ance
and
pur
pose
of
Est
ate
I Pla
nnin
g.
I Dis
cuss
the
info
rmat
ion
requ
ired
whe
n ga
ther
ing
Gat
her
rele
vant
info
rmat
ion
by c
ompl
etin
g a
I in
form
atio
n fo
r a
risk
prof
ile a
nd n
eeds
ana
lysi
s.
ques
tionn
aire
/ask
ing
rele
vant
que
stio
ns w
here
ap
plic
able
. D
iscu
ss t
he d
iffer
ent t
ypes
of
clie
nt r
isk
prof
iles.
D
eter
min
e th
e cl
ient
's r
isk
prof
ile (
incl
udin
g ag
e an
d af
ford
abili
ty) .
I D
iscu
ss t
he i
mpo
rtan
ce o
f cas
h m
anag
emen
t .
Gat
her
data
in t
erm
s of
cap
ital a
nd i
ncom
e st
rate
gies
, in
clud
ing
but
not l
imite
d to
an
emer
genc
y re
quire
men
ts (
excl
udin
g th
e re
sulta
nt r
ate)
in
orde
r fu
nd,
debt
man
agem
ent,
etc.
to
def
ine
pers
onal
and
fin
anci
al g
oals
of t
he c
lient
_b
y de
term
inin
g:
I
(J) ~ '-j (J) A o m
Jl » z .-1
(J1 o ~ o OJ
m
Jl
I\) o o CXl z o w
(J
1 ~
4> en t.)
U)
U1 t
----
----
,---
No.
T
ask
33
Kn
ow
led
ge
Cri
teri
a
Dis
cuss
how
fina
ncia
l st
atem
ents
are
int
erpr
eted
.
Des
crib
e th
e im
pact
of
the
life
cycl
e of
an
indi
vidu
al
on t
he fi
nanc
ial
need
s an
alys
is p
roce
ss.
Ski
ll C
rite
ria
· th
e cl
ient
's a
bilit
y to
sav
e;
· th
e cl
ient
's a
ttitu
de t
owar
ds d
ebt;
• th
e cl
ient
's a
sset
s an
d lia
bilit
ies,
cas
h flo
w,
inco
me,
net
wor
th a
nd b
udge
t; •
the
clie
nt's
ta
x po
sitio
n.
Gat
her
data
in t
erm
s of
inve
stin
g fo
r gr
owth
an
d/o
r in
com
e (in
clud
ing
exis
ting
port
folio
s) b
y:
· de
term
inin
g th
e cl
ient
's c
urre
nt a
sset
s;
· id
entif
ying
cas
h flo
ws
avai
labl
e fo
r in
vest
men
ts;
· de
term
inin
g th
e cl
ient
's e
xper
ienc
e an
d at
titud
e to
war
ds i
nves
tmen
ts;
• de
term
inin
g th
e cl
ient
's i
nves
tmen
t ob
ject
ives
;
· de
term
inin
g th
e cl
ient
's t
oler
ance
for
inve
stm
ent
risk;
· id
entif
ying
the
clie
nt's
exp
ecta
tions
in t
erm
s of
re
turn
; •
iden
tifyi
ng t
he c
lient
's t
ime
horiz
on.
Gat
her
data
in t
erm
s of
ris
k m
an
ag
em
en
t in
clud
ing
deat
h an
d/or
dis
abili
ty a
nd s
hort
-ter
m i
nsur
ance
, by
:
· co
llect
ing
deta
ils o
f the
clie
nt's
exi
stin
g in
sura
nce
cove
rage
;
· de
term
inin
g th
e cl
ient
's r
isk
ma
na
ge
me
nt
obje
ctiv
es;
· de
term
inin
g th
e cl
ient
's t
oler
ance
for
ris
k;
· de
term
inin
g th
e cl
ient
's l
ifest
yle
and
heal
th
issu
es.
Ga
the
r d
ata
in t
erm
s of
ret
irem
ent
plan
ning
by
colle
ctin
g in
form
atio
n:
• on
pot
entia
l so
urce
s of
ret
irem
ent
inco
me;
•
deta
ils o
f es
timat
ed r
etir
emen
t ex
pens
es;
• on
the
clie
nt's
ret
irem
ent
obje
ctiv
es;
· re
gard
ing
the
clie
nt's
atti
tude
tow
ards
re
tirem
ent.
~ z o U)
U1 .....
.p.
G) o ~ lJ
Z s: m
z -i
G) ~ ~ Ji1
U1 o ~ o OJ
m
lJ
I\
) a a (Xl
G) o rp -' o N
-'
W
-' ~ w
()
1 !
No
. T
ask
I I
! 3.
A
naly
se a
nd e
valu
ate
the
clie
nt's
fin
anci
al s
tatu
s as
par
t of
a b
asic
nee
ds a
naly
sis.
I
34
Knowl~dge C
rite
ria
Exp
lain
wh
at
is m
eant
by
"tim
e va
lue
of m
oney
".
Des
crib
e th
e ta
x im
plic
atio
ns fo
r th
e cl
ient
whe
n an
alys
ing
and
eval
uatin
g th
e cl
ient
's c
apita
l an
d in
com
e re
quire
men
ts (
in a
ccor
danc
e w
ith t
he
Inco
me
Tax
Act
, 19
62)
incl
udin
g bu
t no
t lim
ited
to:
· F
ringe
ben
efits
· A
ccru
als
from
Ann
uitie
s
· Lu
mp
sum
s fr
om t
erm
inat
ion
of e
mpl
oym
ent
· D
ivid
ends
and
Int
eres
t
· .C
ontr
ibut
ions
•
Don
atio
ns
• D
educ
tions
· E
xem
ptio
ns a
nd E
xclu
sion
s
· S
ITE
and
PA
VE
Ski
ll C
rite
ria
Gat
her
data
in t
erm
s of
est
ate
plan
ning
by
colle
ctin
g in
form
atio
n on
: •
lega
l agr
eem
ents
and
doc
umen
ts im
pact
ing
on
esta
te p
lann
ing;
•
the
clie
nt's
est
ate
plan
ning
obj
ectiv
es;
• bu
sine
ss r
elat
ions
hips
and
fam
ily d
ynam
ics
that
im
eact
on
esta
te e
lann
ing.
C
ondu
ct a
bas
ic n
eeds
ana
lysi
s fo
r a
clie
nt in
ter
ms
of: ·
Per
sona
l F
inan
cial
Pla
nnin
g •
Inve
stm
ent
Pla
nnin
g
· R
isk
Man
agem
ent
· R
etire
men
t P
lann
ing
· E
stat
e P
lann
ing
· B
usin
ess
assu
ranc
e (w
here
app
licab
le);
•
Hea
lth c
are.
P
erfo
rm t
ime
valu
e o
f m
oney
cal
cula
tions
whe
n an
alys
ing
a cl
ient
's c
apita
l an
d in
com
e re
quire
men
ts
(exc
ludi
ng t
he r
esul
tant
rat
e fo
rmul
a).
Per
form
bas
ic c
ash
flow
cal
cula
tions
.
Ana
lyse
inco
me
tax
impl
icat
ions
and
cal
cula
te t
ax
effic
ient
sol
utio
ns (
by p
erfo
rmin
g ba
sic
tax
calc
ulat
ions
) .
(fJ ~ '-I
(J) A a m
II » z .:-
i -'
()1 a q a OJ
m
II
N o o OIl z o Co
)
()1
-'
.j>.
CI) U1
35
---
No
. T
ask
K
no
wle
dg
e C
rite
ria
· C
apita
l G
ains
Ta
x •
VA
T
Dis
cuss
the
cap
ital
need
s an
d in
com
e r
equi
rem
ents
in
the
eve
nt o
f de
ath,
dis
abili
ty a
nd d
read
dis
ease
in
clud
ing
but
no
t lim
ited
to:
• R
epay
men
t of
cap
ital
amou
nts
· R
epla
cem
ent
of
inco
me
• P
rovi
sion
fo
r la
st e
xpen
ses
• M
edic
al e
xpen
ses
Dis
cuss
the
impl
icat
ions
of t
he U
fe O
ffic
er's
A
ssoc
iatio
n C
odes
of g
ood
Pra
ctic
e in
Dis
abili
ty
Insu
ranc
e w
hen
dete
rmin
ing
the
clie
nt's
cap
ital
and
inco
me
requ
irem
ents
. D
iscu
ss t
he i
mpl
icat
ions
of t
he E
stat
e D
uty
Act
, 19
55 w
hen
dete
rm in
ing
the
clie
nt's
cap
ital
and
. in
com
e re
quir
emen
ts in
the
eve
nt o
f de
ath.
~iSCUS
S the
impl
icat
ions
of t
he l
ife c
ycle
of a
n Ln
divi
dual
cap
ital
and
inco
me
requ
irem
ents
. B
rief
ly d
escr
ibe
finan
cial
mar
kets
and
ins
trum
ents
in
term
s of
inve
stm
ents
incl
udin
g:
· C
apita
l m
ark
et
• M
oney
Mar
ket
• E
quity
Ma
rke
t
· P
rope
rty
Mar
ket.
I •
Har
d A
sset
s •
Der
ivat
ives
E
xpla
in t
he b
asic
inv
estm
ent p
rinc
iple
s in
clud
ing
but
no
t lim
ited
to:
• in
com
e v
ersu
s ca
pita
l gr
owth
• ris
k ve
rsus
ret
urn
• ta
x ef
ficie
ncy
• T
ime
Val
ue o
f M
on
ey
· E
cono
mic
Ind
icat
ors
incl
udin
g bu
t n
ot l
imite
d to
Ski
ll C
rite
ria
Det
erm
ine
the
clie
nt's
cap
ital
need
in t
he e
vent
of
deat
h, d
isab
ility
, re
tren
chm
ent
and/
or r
etir
emen
t in
or
der
to p
rovi
de f
or
capi
tal
requ
irem
ents
and
inc
ome
requ
irem
ents
(ex
clud
ing
Cap
ital
Gai
ns T
ax).
Cal
cula
te t
he t
ax o
n lu
mp
sum
s w
hen
dete
rmin
ing
the
clie
nt's
cap
ital
and
inco
me
requ
irem
ents
in t
he
even
t of d
eath
, di
sabi
lity,
ret
renc
hmen
t an
d re
tirem
ent.
Cal
cula
te th
e ta
x de
duct
ibili
ty o
n p
rem
ium
s w
hen
dete
rmin
ing
the
clie
nt's
cap
ital
and
inco
me
requ
irem
ents
in t
he e
vent
of d
eath
, di
sabi
lity,
re
tren
chm
ent
and
retir
emen
t.
CaJ
cula
te t
he r
equi
red
rate
of
retu
rn t
o re
ach
the
clie
nt's
inv
estm
ent o
bjec
tives
.
Inte
rpre
t a.
ndco
mm
unic
ate
econ
omic
indi
cato
rs a
nd
thei
r ef
fect
on
a cl
ient
's i
nves
tmen
t po
rtfo
lio.
,
(I)
(I) z 9 tv .... 01 .... .j>. Gl ~ m
II
z s: m
z -I
Gl (:j 9 m
01 o ~ OJ
m
II
I\l o o Q)
No.
T
ask
36
Kn
ow
led
ge
Cri
teri
a
infla
tion
rate
s, C
PIX
, in
tere
st r
ates
, G
OP
, cu
rren
cy,
exch
ange
rat
es a
nd t
heir
affe
ct o
n in
vest
men
ts
Ben
chm
arks
and
ind
ices
E
cono
mic
prin
cipl
es (
buy
and
sell.
eco
nom
ic
cycl
es,
supp
ly a
nd
• F
orei
gn I
inte
rnat
iona
l M
arke
t E
xpec
tatio
ns a
nd I
nves
tmen
t R
isk
Act
ive
vers
us p
assi
ve m
anag
emen
t R
and
Cos
t Ave
ragi
ng
Com
poun
d In
tere
st a
nd r
einv
estm
ent
of in
com
e D
iver
sific
atio
n D
escr
ibe
the
mai
n as
set
clas
ses
in t
erm
s of
st
ruct
ure
(incl
udin
g ris
k vs
. re
turn
, vo
latil
ity a
ttach
ed
to e
ach
asse
t cl
ass)
as
it re
late
s to
: • ..
prop
erty
I al
tern
ativ
e in
vest
men
ts a
nd
cash
inve
stm
ents
. Li
st t
he r
elev
ant
indu
stry
rol
e pl
ayer
s in
inv
estm
ents
an
d de
scrib
e th
eir
func
tions
incl
udin
g bu
t no
t lim
ited
to: • ..
CIS
Man
ager
(M
anag
emen
t C
o)
Tru
stee
I C
usto
dian
R
egis
trar
A
SIS
A
Adm
inis
trat
ive
FS
Ps
Pen
sion
fun
d be
nefit
adm
inis
trat
ors
Ana
lyse
a c
lient
's c
urre
nt p
ortfo
lio o
f as
sets
in t
erm
s o
f: Ta
x ef
fect
iven
ess
Ris
k
Ski
ll C
rite
ria
Det
erm
ine
a cl
ient
's i
nves
tmen
t nee
ds in
ter
ms
of
inve
stin
g fo
r in
com
e an
d lo
r gr
owth
, ba
sed
on t
he
clie
nt's
ris
k pr
ofile
, in
clud
ing
advi
ce o
n ex
istin
g in
vest
men
t oo
rtla
lio's
and
imol
icat
ians
of
port
folio
(fl ~ @
6 m
JJ
» z .-1
()1 o ~ III m
JJ
I\) o o co z o w .... tn
-!:> Ol ....
No.
T
ask
37
Kn
ow
led
ge
Cri
teri
a
Impa
ct o
f in
flatio
n M
atur
ity D
ates
D
iver
sific
atio
n C
ost
Rat
e o
f Ret
urn
Dis
cuss
the
diff
eren
t typ
es o
f in
vest
men
ts in
clud
ing
but
not
limite
d to
: C
olle
ctiv
e In
vest
men
t S
chem
es
Equ
ities
•
Inte
rest
-Bea
ring
Inve
stm
ents
Li
nked
and
Mar
ket-
rela
ted
inve
stm
ents
E
ndow
men
ts
Tan
k C
onta
iner
s ..
Hed
ge F
unds
!:
:nro
inn
I In
tern
atio
nal I
nves
tmen
ts
Des
crib
e th
e di
ffer
ent t
ypes
of i
nves
tmen
ts in
ter
ms
of:
Pur
pose
an
d •
Cha
ract
eris
tics
(Pric
e, F
ees
cost
s an
d te
rmin
atio
n sw
itchi
ng
Ter
m,
and
Ret
urn,
tax
, '
Ben
efits
Li
mita
tions
P
olic
Y p
rovi
sion
s D
iscu
ss t
he le
gal
requ
irem
ents
ass
ocia
ted
with
in
vest
men
ts.
Ski
ll C
rite
ria
Mat
ch t
he a
ppro
pria
te in
vest
men
t pr
oduc
ts w
ith t
he
clie
nt's
ris
k pr
ofile
and
inv
estm
ent
need
s.
Des
crib
e th
e di
ffer
ent t
ypes
of
inve
stm
ents
and
th
e di
ffere
nces
to t
he c
lient
in
lang
uage
and
in a
ccor
danc
e w
ith t
he c
lient
's
exis
ting
know
ledg
e in
ord
er to
ass
ist t
he c
lient
mak
e an
app
ropr
iate
inve
stm
ent d
ecis
ion.
Ol co z o t.) .....
01
..... ~
G) o <
m
II
z s::: m
z -l
G) ~ 9 m
01 o ()
-l o OJ m
II
N o o co
38
No.
T
ask
K
no
wle
dg
e C
rite
ria
Des
crib
e th
e es
tate
dut
y im
plic
atio
ns f
or t
he c
lient
w
hen
anal
ysin
g an
d ev
alua
ting
prop
osed
in
vest
men
t opt
ions
(in
acc
orda
nce
with
the
Est
ate
Dut
y A
ct,
1955
).
Des
crib
e th
e tr
ansf
er d
uty
impl
icat
ions
for
the
clie
nt
whe
n an
alys
ing
and
eval
uatin
g pr
opos
ed
inve
stm
ent o
ptio
ns (
in a
ccor
danc
e w
ith t
he T
rans
fer
Dut
y A
ct,
1949
).
Des
crib
e th
e im
plic
atio
ns o
f mar
riage
and
div
orce
w
hen
anal
ysin
g an
d ev
alua
ting
prop
osed
in
vest
men
t opt
ions
(in
acc
orda
nce
with
the
M
atrim
onia
l P
rope
rty
Act
, 19
88).
D
escr
ibe
the
impl
icat
ions
of t
he P
ensi
on F
unds
Act
, 19
56 w
hen
anal
ysin
g an
d ev
alua
ting
prop
osed
in
vest
men
t opt
ions
. D
iscu
ss t
he c
lass
ifica
tion
of c
olle
ctiv
e in
vest
men
t sc
hem
es a
s de
scrib
ed in
the
Ass
ocia
tion
for
Sav
ings
and
Inv
estm
ent f
or S
A (
AS
ISA
) C
ode
of
Pra
ctic
e re
latin
g to
Fun
d C
lass
ifica
tions
for
SA
R
egul
ated
CI
Por
tfolio
s.
Des
crib
e th
e im
pact
of
the
Long
-Ter
m I
nsur
ance
Act
19
98 o
n in
vest
men
ts,
incl
udin
g:
· S
urre
nder
val
ues;
· In
solv
ency
and
pol
icie
s;
· P
rem
ium
esc
alat
ion;
· 4
Fun
d ap
proa
ch;
· 20
% R
ule;
· F
orei
gn E
xcha
nge
Con
trol
Reg
ulat
ions
. D
escr
ibe
the
impa
ct o
f le
gisl
atio
n on
bus
ines
s as
sura
nce
in t
erm
s of
: •
Law
of
Con
trac
t •
Mat
rimon
ial
Pro
pert
y A
ct,
1988
· In
com
e T
ax A
ct,
1962
· E
stat
e D
uty
Act
, 19
55
Ski
ll C
rite
ria
Iden
tify
the
area
s of
ris
k to
whi
ch t
he c
lient
is
expo
sed,
and
det
erm
ine
the
clie
nt's
nee
d fo
r bu
sine
ss a
ssur
ance
.
(J) ~ '-1
(J) A o m
JJ » z .-1
U1 o ~ o rn m
JJ
I\
) o o (Xl z o w
U1 ......
.p. Ol
CD
39
---
No.
T
ask
K
no
wle
dg
e C
rite
ria
. D
efer
red
Com
pens
atio
n, P
refe
rred
C
ompe
nsat
ion
Dis
cuss
the
var
ious
bus
ines
s en
titie
s, a
nd t
heir
busi
ness
ass
uran
ce r
equi
rem
ents
. D
iscu
ss th
e ro
le o
f bu
sine
ss v
alua
tion
and
loan
ac
coun
t cov
er in
det
erm
inin
g a
clie
nt's
nee
d fo
r i b
usin
ess
assu
ranc
e.
I D
iscu
ss t
he n
eed
for
busi
ness
con
tinge
ncy
plan
s in
I d
eter
min
ing
the
clie
nt's
nee
d fo
r bu
sine
ss
, as
sura
nce.
I
Dis
cuss
how
the
buyi
ng a
nd s
ellin
g of
I
stoc
k/pr
oduc
ts a
ffect
s th
e ne
ed f
or b
usin
ess
I as
sura
nce.
I i I E
xpla
in t
he p
rinci
ples
of
insu
ranc
e in
clud
ing
the
conc
epts
of
insu
rabl
e in
tere
st,
insu
rabl
e ris
k, d
uty
of
disc
losu
re,
inde
mni
ty,
aver
age,
com
pens
atio
n,
subr
ogat
ion,
pro
xim
ate
caus
e, c
ontr
ibut
ion,
law
of
cont
ract
.
Des
crib
e th
e di
ffer
ent t
ypes
of
life
assu
ranc
e an
d di
sabi
lity
insu
ranc
e, s
hort
-ter
m in
sura
nce
(com
mer
cial
and
per
sona
l lin
es)
and
heal
th
insu
ranc
e in
ter
ms
of:
· P
urpo
se
· S
truc
ture
· C
hara
cter
istic
s (R
ates
, C
osts
, T
erm
, U
nder
lyin
g
---
Ski
ll C
rite
ria
Iden
tify
the
area
s of
ris
k to
whi
ch t
he c
lient
is
expo
sed,
and
det
erm
ine
the
clie
nts
need
for
life
as
sura
nce,
sho
rt-t
erm
ins
uran
ce a
nd h
ealth
car
e in
sura
nce.
E
stab
lish
the
clie
nt's
:
· in
sura
ble
inte
rest
,
· pr
evio
us c
laim
s lo
ss h
isto
ry,
• pr
evio
us i
nsur
ance
· cu
rren
t in
sura
nce
cove
rage
· th
e im
plic
atio
ns o
f cha
nges
to
the
curr
ent
insu
ranc
e, a
nd
• pe
rson
al f
inan
cial
sta
tus
in o
rder
to
prio
ritis
e th
e cl
ient
's r
isk
man
agem
ent
need
s.
Mat
ch t
he a
ppro
pria
te in
sura
nce
prod
ucts
with
the
cl
ient
's r
isk
prof
ile a
nd i
nves
tmen
t ne
eds.
---
----
-..I o z p w
.....
()l .....
.p. Q o <
m
:II z s:::
m
z -l
Q ~ g JTl
()l o § OJ
m
:II
II.)
a a O
J
40
No.
T
ask
K
no
w.le
dg
e C
rite
ria
Por
tfolio
, T
a'(
etc.
}
· B
enef
its
• Li
mita
tions
, •
Res
tric
tions
, E
xclu
sion
s &
Wai
ting
Per
iods
•
Pre
miu
ms
& C
ontr
ibut
ions
•
Pol
icy
prov
isio
ns &
Sch
eme
Rul
es
Dis
cuss
the
im
plic
atio
ns o
f the
Med
ical
Sch
emes
A
ct a
nd t
he i
mpa
ct o
n m
edic
al s
chem
es a
nd
insu
ranc
e pr
oduc
ts.
Des
crib
e th
e im
plic
atio
ns o
f m
arria
ge a
nd d
ivor
ce
whe
n an
alys
ing
and
eval
uatin
g pr
opos
ed r
etire
men
t I
optio
ns (
in a
ccor
danc
e w
ith t
he M
atrim
onia
l P
rope
rty
Act
, 19
88.
Div
orce
Act
197
9, M
aint
enan
ce
of
Sur
vivi
ng S
pous
es 1
990,
and
Pen
sion
Fun
ds A
ct,
1956
).
Exp
lain
wha
t is
mea
nt b
y a
retir
emen
t an
nuity
.
Exp
lain
wha
t is
mea
nt b
y a
pres
erva
tion
fund
.
----
Exp
lain
wha
t is
mea
nt b
y a
livin
g an
nuity
.
Exp
lain
the
diff
eren
ce b
etw
een
an a
nnui
ty a
nd a
!
savi
ngs
polic
y.
Dis
cuss
the
diff
eren
t typ
es o
f re
tirem
ent
optio
ns
incl
udin
g bu
t n
ot l
imite
d to
(be
nefit
s, c
ontr
ibut
ions
, ta
x et
c.)
in t
erm
s of
:
• Li
ving
ann
uity
•
Join
t life
ann
uity
· R
etire
men
t an
nuity
with
life
and
dis
abili
ty c
over
•
Ret
irem
ent
annu
ity w
ithou
t lif
e co
ver
• R
etire
men
t an
nuity
link
ed t
o an
inv
estm
ent
Exp
lain
-tax
min
imiz
atio
n I
relie
f (r
etire
men
t an
nuiti
es
an
dle
ase
s). _
Ski
ll C
rite
ria
I !
Ass
ess
finan
cial
t:
:11
1t:
:IIL
::I at
ret
ir!
len
t dat
e.
Det
erm
ine
whe
ther
the
clie
nt's
ret
irem
ent
obje
ctiv
es
are
real
istir
.
Dev
elop
fin
anci
al p
roje
ctio
ns b
ased
on
curr
ent
posi
tion,
and
ass
ess
the
impa
ct o
f ch
ange
s to
~ssumetions o
n fin
anci
al e
roje
ctio
ns.
Con
side
r po
tent
ial r
etire
men
t pl
anni
ng s
trat
egie
s fo
r a
part
icul
ar c
lient
.
---
(fJ ~ '-1
(fJ A o m
:n ~ :-l ~
U1 o q o III m
:n
~
o o CD z o Ul
..J.
U1 ~
,p. ""I ...
No
. T
ask
41
Kn
ow
led
ge
Cri
teri
a
Exp
lain
the
bas
ic r
ules
per
tain
ing
to t
he t
axat
ion
of
retir
emen
t fu
nds.
D
iscu
ss t
he m
axim
um c
ontr
ibut
ions
for
ret
irem
ent
fund
s.
Ski
ll C
rite
ria
Exp
lain
exi
stin
g em
ploy
ee b
enef
its in
ter
ms
of th
e A
naly
se a
bus
ines
s cl
ient
's e
mpl
oyee
ben
efit
impa
ct o
f the
: pr
ovis
ion
and
requ
irem
ents
• •
Pen
sion
Fun
ds A
ct,
1956
P
ensi
on F
und
Rul
es
of
1979
In
com
e T
ax
Act
, 19
62
Spo
uses
, 19
90
Long
-Ter
m I
nsur
ance
Act
, 19
98
Gro
uD R
isk
Ben
efits
Inte
rpre
t the
pen
sion
fun
ds s
tate
men
t.
Ana
lyse
an
esta
te in
ord
er to
pro
pose
an
appr
opria
te f
inan
cial
sol
utio
n, (
excl
udin
g re
sulta
nt
rate
), i
nclu
ding
: •
Net
wor
th a
t de
ath
Pot
entia
l ex
pens
es a
nd t
axes
ow
ing
at
deat
h •
Spe
cific
nee
ds o
f be
nefic
iarie
s o
f the
est
ate
at d
eath
,~
-;--
,-:-
---:
--_,
.---
,:-c
-:--
-c:-
--:-
--:-_
__
__
__
-+-=-~P-=o:.:.:te:ccntial
esta
te p
lann
in 9
str
ateg
i es
Exp
lain
the
im
pact
of t
he f
ollo
win
g A
cts
on a
n P
erfo
rm a
bas
ic e
stat
e du
ty c
alcu
latio
n (in
clud
ing
esta
te,
whe
re r
esid
ue m
ay
be b
eque
athe
d to
ex
ecut
or's
fees
), w
here
res
idue
ma
y be
beq
ueat
hed
spou
se a
nd w
here
a c
lient
may
be
mar
ried
(with
or
to s
pous
e an
d w
here
clie
nt m
ay
be m
arrie
d w
ithou
t ac
crua
l), a
nd w
ith o
r w
ithou
t co
mm
unity
of
with
out a
ccru
al),
and
with
or
prop
erty
: pr
oper
ty (
not t
akin
g C
GT
into
•
Est
ate
Dut
y A
ct,
1 955
P
rope
rty
Act
, 19
88
Inte
stat
e S
ucce
ssio
n A
ct,
1987
•
Will
s A
ct,
1953
•
CG
T I
Inco
me
Ta
x 19
62
..., I\) z 9 w .... 01 .... .f:>
G) o <
m
lJ
z s:: m
z -l
G) ~ 9 JT1
01 o ~ o (l
J
m
lJ
I\l o o Cll
finan
c re
CO
IT
alte
rn
Ta
sk
I
)p a
nd p
rese
nt a
ia
l pl
an w
ith
men
datio
ns a
nd
3.tiv
es.
42
Kn
ow
led
ge
Cri
teri
a
Exp
lain
the
im
pa
ct o
f the
fol
low
ing
Act
s on
the
liq
uidi
ty o
f an
est
ate:
· E
stat
e D
uty
Act
, 19
55
· M
atrim
onia
l P
rope
rty
Act
, 19
88
· In
test
ate
Suc
cess
ion
Act
, 19
87
· W
ills
Act
, 19
53
· C
GT
I In
com
e T
ax
Act
, 19
62
• D
ivor
ce A
ct,
1979
· P
ensi
on F
unds
Act
, 19
56
· M
aint
enan
ce o
f S
urvi
ving
Spo
uses
, 19
90
Dis
cuss
the
conc
ept
of a
trus
t an
d its
ben
efits
in
I--es
tate
pla
nnin
g.
Exp
lain
the
nee
d to
sav
e fo
r re
tirem
ent
and
the
impl
icat
ions
of
not
havi
ng s
aved
for
ret
irem
ent.
~~
Exp
lain
how
fina
ncia
l pr
oduc
ts a
re li
nked
to
a cl
ient
's n
eeds
and
cir
cum
stan
ces.
Dis
cuss
bas
ic in
vest
men
t pr
inci
ples
.
Dis
cu
ss th
e ba
sic
com
pone
nts
of
an i
nves
tmen
t st
rate
gy in
clud
ing:
•
Wea
lth c
reat
ion
• In
com
e ge
nera
tion
· W
ealth
pro
tect
ion
I S
kill
Cri
teri
a
~ P
erfo
rm a
bas
ic e
stat
e liq
uidi
ty c
alcu
latio
n (n
ot
taki
ng C
GT
into
acc
ount
).
Iden
tify
the
suita
bilit
y o
f a p
rodu
ct t
o m
eet t
he
clie
nt's
nee
ds.
Sel
ect t
he m
ost
app
ropr
iate
pro
duct
s in
ord
er to
m
ee
t the
clie
nt's
nee
ds.
Edu
cate
the
clie
nt in
ter
ms
of th
e ne
ed t
o pr
ovid
e fin
anci
ally
for
retir
emen
t. R
ecom
men
d st
ruct
ures
and
pro
duct
s to
add
ress
a
clie
nt's
fina
ncia
l, re
tirem
ent,
risk,
inv
estm
ents
, es
tate
pla
nnin
g ne
eds
and
busi
ness
ass
uran
ce
need
s.
Com
mun
icat
e pr
oduc
t fea
ture
s an
d be
nefit
s to
a
clie
nt in
sim
ple
and
ea
sy to
und
erst
and
lang
uage
in
orde
r to
ena
ble
the
clie
nt to
mak
e an
inf
orm
ed
deci
sion
. (I
nclu
ding
eco
nom
ic c
once
pts,
eve
nts,
in
dica
tors
, C
PIX
, et
c.)
Adv
ise
the
clie
nt o
n th
e in
com
e ta
x im
plic
atio
ns
(incl
udin
g C
apita
l G
ains
Tax
), t
rans
fer
duty
and
es
tate
dut
y of
exi
stin
g an
d pr
opos
ed in
vest
men
ts.
Adv
ise
the
clie
nt o
n th
e be
nefit
s of
offs
hore
di
vers
ifica
tion
as p
art o
f an
inve
stm
ent p
lan
(incl
udin
g cu
rren
cy r
isk)
-~
! I
(jJ ~ :..j
(jJ A o m
JJ » z .:-!
(]l o ~ o co m
JJ
l'I:l g Ol z o c..>
(]
l -' ~
..... W
43
No.
T
ask
K
no
wle
dg
e C
rite
ria
Des
crib
e an
act
ive
vs.
a pa
ssiv
e ap
proa
ch t
o F
und
Man
agem
ent.
D
escr
ibe
the
tax
impl
icat
ions
for
the
clie
nt w
hen
anal
ysin
g an
d ev
alua
ting
prop
osed
inv
estm
ent
optio
ns (
in a
ccor
danc
e w
ith t
he I
ncom
e T
ax
Act
, 19
62).
D
iscu
ss t
he f
eatu
res
and
bene
fits
of in
sura
nce
prod
ucts
. E
xpla
in t
he d
iffer
ent t
ypes
of
cove
r (in
clud
ing
self
insu
ranc
e) a
vaila
ble
and
the
impl
icat
ions
and
be
nefit
s th
ereo
f. E
xpla
in t
he p
olic
y w
ordi
ng/s
inc
ludi
ng t
he c
once
pt o
f ex
cess
, un
derw
ritin
g cr
iteri
a an
d ty
pes
of p
erils
. D
escr
ibe
clie
nt s
peci
fic c
ontr
actu
al o
blig
atio
ns o
f th
e va
riou
s pr
oduc
ts.
Pro
vide
a b
asic
exp
lana
tion
of a
nnui
ties.
Des
crib
e th
e do
natio
ns t
ax i
mpl
icat
ions
whi
ch m
ay
be o
r be
com
e ap
plic
able
to
a cl
ient
's f
inan
cial
pl
ans/
actio
ns (
busi
ness
).
Dis
cuss
the
im
plic
atio
ns o
f a b
enef
icia
ry n
omin
atio
n on
a p
olic
y, r
esig
natio
n an
d w
ithdr
awal
, w
indi
ng u
p o
f a
fund
. D
escr
ibe
the
impl
icat
ions
of a
ben
efic
iary
no
min
atio
n on
a p
olic
y, r
esig
natio
n an
d w
ithdr
awal
, w
indi
ng u
p of
a fu
nd,
incl
udin
g:
• T
a){
impl
icat
ions
•
Pen
sion
Fun
ds A
ct,
1956
-
Ski
ll C
rite
ria
Adv
ise
clie
nts
on e
xist
ing
inve
stm
ent
port
folio
s.
Adv
ise
clie
nts
on t
he i
mpa
ct o
f di
vorc
e, m
arri
age
and
mai
nten
ance
ord
ers
on e
stat
e an
d re
tirem
ent
plan
ning
. In
terp
ret a
nd e
xpla
in t
he p
ensi
on f
unds
sta
tem
ent t
o th
e cl
ient
.
Exp
lain
exi
stin
g em
ploy
ee b
enef
its t
o an
ind
ivid
ual
clie
nt.
Adv
ise
a cl
ient
on
the
impl
icat
ions
of
a be
nefic
iary
no
min
atio
n on
a p
olic
y, r
esig
natio
n an
d w
ithdr
awal
, w
indi
ng u
p of
a fu
nd.
Str
uctu
ring
of a
por
tfolio
(lo
w,
med
ium
and
hig
h ris
f<)
in a
ccor
danc
e w
ith t
he c
lient
's n
eeds
. S
truc
ture
pol
icie
s to
max
imiz
e ta
x be
nefit
s.
Adv
ise
clie
nts
on t
he i
mpl
icat
ions
of
rest
ruct
urin
g ex
istin
g in
vest
men
t por
tfolio
s.
"'l
-I> z o w
......
U1 .,. G.>
o <
m
JJ z ~ m
z -1
G.> » N m
:::j m
U1 o ~ OJ
m
JJ
I\
) o o co
44
-1
---
No.
I
Ta
sk
I K
no
wle
dg
e C
rite
ria
~ I
5.
Impl
emen
t the
fin
anci
al p
lan
Dis
cuss
the
rel
evan
ce o
f di
sclo
sure
s, r
ecor
d of
an
d re
com
men
datio
ns.
advi
ce a
nd t
he F
AIS
cod
e of
con
duct
whe
n de
velo
ping
a fi
nanc
ial
plan
ning
rep
ort.
6.
Mon
itor
the
finan
cial
pla
n an
d D
iscu
ss t
he r
easo
ns f
or r
evie
win
g an
d m
onito
ring
a re
com
men
datio
ns.
finan
cial
pla
n in
clud
ing
but
not
limite
d to
:
· C
hang
es in
per
sona
l ci
rcum
stan
ces
of t
he c
lient
· C
hang
es in
clie
nt g
oals
and
obj
ectiv
es
· C
hang
es in
leg
isla
tion
· In
trod
uctio
n of
new
pro
duct
s an
d se
rvic
es
7.
Adv
ise
clie
nt o
n a
Will
. E
xpla
in t
he i
mpl
icat
ions
if a
clie
nt d
o no
t hav
e a
valid
Will
.
I----
-cc-
--D
iscu
ss t
he i
mpl
icat
ions
of t
he c
laus
es o
f a
stan
dard
will
, ta
king
int
o ac
coun
t:
· T
rust
Com
pany
Con
trol
Act
, 19
88
· A
dmin
istr
atio
n of
Est
ates
Act
, 19
65
· C
ompa
nies
Act
, 19
73
· C
lose
Cor
pora
tions
Act
, 19
84
Ski
ll C
rite
ria
Pro
duce
a c
ompr
ehen
sive
and
und
erst
anda
ble
finan
cial
pla
nnin
g re
port
for
a cl
ient
. P
riorit
ise
actio
n st
eps
to a
ssis
t a c
lient
in
impl
emen
ting
a fin
anci
al p
lan
and
reco
mm
enda
tions
. A
djus
t re
com
men
datio
ns in
acc
orda
nce
chan
ges
in
the
clie
nt's
life
cyc
le a
nd p
erso
nal c
ircu
mst
ance
s.
Reb
alan
ce p
ortfo
lios
as r
equi
red
in o
rder
to m
eet
the
clie
nt's
cha
ngin
g ne
eds.
Exp
lain
to
the
clie
nt th
e im
plic
atio
ns o
f hi
s/he
r w
ill
and
how
the
will
ma
y be
upd
ated
/impr
oved
. -E
xpla
in to
the
clie
nt th
e im
plic
atio
ns o
f the
cla
uses
of
a s
tand
ard
will
. D
raw
up
a st
anda
rd W
ill f
or a
clie
nt.
I
(J) ~ '-l
(J) 6 m
JJ
):>
Z
--I
(}1
o ~ OJ
m
JJ
F\)
a a co
z o w
(}1
.....
. .I>
~
Se
ctio
n 8
: R
E 8
: S
eco
nd
Le
vel
Re
gu
lato
ry E
...'(a
min
atio
n: P
art
icip
ato
ry In
tere
sts
In C
olle
ctiv
e In
vest
me
nt S
che
me
s
(1 )
(2)
(3) No.
2.
All
repr
esen
tativ
es p
erfo
rmin
g fin
anci
al
serv
ices
in
rela
tion
to c
ateg
ory
I, su
bcat
egor
y P
artic
ipat
ory
Inte
rest
s in
C
olle
ctiv
e In
vest
men
t S
chem
es a
re r
equi
red
to c
ompl
ete
a fir
st l
evel
reg
ulat
ory
exam
inat
ion,
bas
ed o
n th
e qu
alify
ing
crite
ria a
s it
appe
ars
in S
ectio
n 4
and
a se
cond
leve
l re
gula
tory
exa
min
atio
n ba
sed
on t
he q
ualif
ying
crit
eria
in S
ectio
n 8;
E
xam
inat
ion
bodi
es h
ave
the
disc
retio
nary
pow
ers
to o
ffer
a co
mbi
natio
n ex
amin
atio
n fo
r re
pres
enta
tives
wor
king
with
Par
ticip
ator
y In
tere
sts
in C
olle
ctiv
e In
vest
men
t S
chem
es,
whe
re s
uch
repr
esen
tativ
es m
ay c
hoos
e to
com
plet
e on
e ex
amin
atio
n th
at a
ddre
sses
the
qual
ifyin
g cr
iteri
a as
it
appe
ars
in S
ectio
ns 4
and
8;
The
qua
lifyi
ng c
rite
ria
in S
ectio
n 4
and
Sec
tion
8 se
rve
as t
he c
riter
ia a
gain
st w
hich
qua
lific
atio
ns w
ill b
e ev
alua
ted
for
incl
usio
n on
the
lis
t of
rec
ogni
sed
qual
ifica
tions
.
-~~
-~
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Ski
ll C
rite
ria
Est
ablis
h an
d de
fine
a D
escr
ibe
ho
w th
e F
AIS
Cod
e of
Con
duct
is a
pplie
d P
rovi
de d
iscl
osur
es to
clie
nts.
pr
ofes
sion
al r
elat
ions
hip
with
.
whe
n pr
ovid
ing
finan
cial
adv
ice
to a
clie
nt.
your
clie
nt.
Dis
cuss
the
prod
uct
disc
losu
res
that
sho
uld
be
mad
e to
clie
nts,
bot
h up
fron
t and
ong
oing
.
Gat
her
info
rmat
ion
in o
rder
to
Dis
cuss
the
impo
rtan
ce a
nd p
urpo
se o
f P
erso
nal
Gat
her
rele
vant
info
rmat
ion
by c
ompl
etin
g a
cond
uct
a ba
sic
need
s F
inan
cial
Pla
nnin
g.
ques
tionn
aire
/ask
ing
rele
vant
que
stio
ns w
here
an
alys
is f
or a
clie
nt.
a.E
elic
able
. D
iscu
ss t
he i
mpo
rtan
ce a
nd p
urpo
se o
f Inv
estm
ent
Det
erm
ine
the
clie
nt's
ris
k pr
ofile
(in
clud
ing
age
and
Pla
nnin
g af
ford
abili
ty) .
Inte
rpre
t and
exp
lain
bas
ic fi
nanc
ial
stat
emen
ts.
Gat
her
data
in t
erm
s of
cap
ital
and
inco
me
requ
irem
ents
(ex
clud
ing
the
resu
ltant
rat
e) i
n or
der
to d
efin
e pe
rson
al a
nd f
inan
cial
goa
ls o
f the
clie
nt b
y de
term
inin
g:
• th
e cl
ient
's a
bilit
y to
sav
e;
• A
ttitu
de t
owar
ds d
ebt;
· th
e cl
ient
's a
sset
s an
d lia
bilit
ies,
cas
h flo
w,
inco
me,
net
wor
th a
nd b
udge
t; •
the
clie
nt's
tax
pos
ition
. I I
Gat
her
data
in t
erm
s of
inve
stin
g fo
r gr
owth
and
/or
inco
me
(incl
udin
g ex
istin
g po
rtfo
lios)
by:
I ·
dete
rmin
ing
the
clie
nt's
cur
rent
ass
ets;
..., m
z ~
(..)
U1
.....
.p. G) ~ m
JJ z s: m
z -I
G) ~ ~ m
U1 o d OJ m
JJ
rv
o o (Xl
No.
3.
Ta
sk
Ana
lyse
and
eva
luat
e th
e cl
ient
's f
inan
cial
sta
tus
as p
art
of a
bas
ic n
eeds
ana
lysi
s.
46
Kn
ow
led
ge
Cri
teri
a S
kill
Cri
teri
a
iden
tifyi
ng c
ash
flow
s av
aila
ble
for
inve
stm
ents
; •
dete
rmin
ing
clie
nt's
exp
erie
nce
and
attit
ude
tow
ards
inv
estm
ents
; •
dete
rmin
ing
clie
nt's
inv
estm
ent
obje
ctiv
es;
clie
nt's
tole
ranc
e fo
r in
vest
men
t
clie
nt's
exp
ecta
tions
in t
erm
s of
f--------_
__
__
__
__
__
_ I-
ide
nti
fyin
g th
e cl
ient
's ti
me
horiz
on.
Est
ablis
h th
e cl
ient
's r
isk
prof
ile a
nd i
nves
tmen
t
Exp
lain
bas
ic i
nves
tmen
t pr
inci
ples
inc
ludi
ng b
ut n
ot
limite
d to
: in
com
e ve
rsus
cap
ital
grow
th,
• ris
k ve
rsus
ret
urn
tax
effic
ienc
y;
&
Tim
e V
alue
of
Indi
cato
rs in
clud
ing
but
not
limite
d to
C
PIX
, in
tere
st r
ates
, G
OP
, cu
rren
cy,
exch
ange
rat
es a
nd t
heir
affe
ct o
n in
vest
men
ts,
• B
ench
mar
ks a
nd i
ndic
es;
Eco
nom
ic p
rinci
ples
(bu
y an
d se
ll, e
cono
mic
cy
cles
, su
pply
and
dem
and,
etc
.) F
orei
gn I
inte
rnat
iona
l in
vest
men
ts.
Mar
ket
Exp
ecta
tions
and
Inv
estm
ent
Ris
k A
ctiv
e ve
rsus
pas
sive
man
agem
ent
Ran
d C
ost A
vera
ging
o
Com
poun
d In
tere
st a
nd r
einv
estm
ent
of in
com
e D
iver
sific
atio
n
need
s, a
nd m
atch
thi
s w
ith s
uita
ble
offe
rings
Cal
cula
te t
he r
equi
red
rate
of r
etur
n to
rea
ch t
he
clie
nt's
inv
estm
ent
obje
ctiv
es.
----
----
-----;----:---c;------:---:--;------t
Des
crib
e th
e m
ain
asse
t cl
asse
s un
derly
ing
a D
eter
min
e a
clie
nt's
inv
estm
ent
need
s in
ter
ms
of
colle
ctiv
e in
vest
men
t in
ter
ms
of s
truc
ture
(in
clud
ing
inve
stin
g fo
r in
com
e an
d lo
r gr
owth
, ba
sed
on t
he
(J) ~ :....j
(J) /\ o m
J) » z .-1
-'
()1 o ~ o co m
J)
I\) o o O:l z o w
-'
()1
-' .po ~
-.j co
47
z o
No.
j T
ask
K
no
wle
dg
e C
rite
ria
Ski
ll C
rite
ria
risk
vs.
retu
rn,
vola
tility
) as
it r
elat
es to
: cl
ient
's r
isk
prof
ile,
incl
udin
g ad
vice
on
exis
ting
I •
bond
s,
inve
stm
ent
port
folio
's a
nd i
mpl
icat
ions
of
port
folio
I
· re
stru
ctur
ing.
:
prop
erty
/ al
tern
ativ
e in
vest
men
ts a
nd
• eq
uitie
s,
I I•
cash
inve
stm
ents
.
Bri
efly
des
crib
e fin
anci
al m
arke
ts a
nd i
nstr
umen
ts in
te
rms
of in
vest
men
ts i
nclu
ding
:
· C
apita
l m
ark
et
IM
oney
Ma
rke
t ·
Equ
ity M
arke
t ·
Pro
pert
y M
arke
t. · · ·
Har
d A
sset
s D
eriv
ativ
es
Dis
cuss
the
lega
l re
quir
emen
ts a
ssoc
iate
d w
ith
I C
olle
ctiv
e In
vest
me
nt S
chem
es a
ccor
ding
to
CIS
CA
an
d ot
her
rele
vant
legi
slat
ion.
Li
st t
he
rel
evan
t in
dust
ry r
ole
play
ers
in c
olle
ctiv
e
inve
stm
ents
and
des
crib
e th
eir
func
tions
inc
ludi
ng
but
no
t lim
ited
to:
.. C
IS M
anag
er (
Ma
na
ge
me
nt
Co)
•
Tru
ste
e /
Cus
todi
an
• R
egis
trar
· A
SIS
A
• U
SP
s A
naly
se n
ew d
evel
opm
ents
rep
orte
d in
th
e m
edia
M
atch
the
appr
opri
ate
colle
ctiv
e in
vest
men
t sc
he
me
th
at c
ould
im
pact
on
the
col
lect
ive
inve
stm
ent
port
folio
with
the
clie
nt's
ris
k pr
ofile
and
inv
estm
ent
indu
stry
. ne
eds.
D
escr
ibe
the
diff
eren
t typ
es o
f col
lect
ive
finan
cial
pla
n w
ith
Des
crib
e th
e d
iffe
ren
t typ
es i
nter
est-
bear
ing
Dev
elop
an
d p
rese
nt
a 4.
in
vest
men
ts a
nd e
xpla
in t
he
diff
eren
ces
to t
he c
lient
re
com
men
datio
ns a
nd
inve
stm
ents
incl
udin
g b
ut n
ot
limite
d to
: in
pla
in l
angu
age
and
in a
ccor
danc
e w
ith t
he c
lient
's
mo
ne
y m
ark
et i
nstr
umen
ts
· ex
istin
g kn
owle
ge in
ord
er to
ass
ist t
he c
lient
mak
e al
tern
ativ
es.
•
bond
s an
app
ropr
iate
inve
stm
ent d
ecis
ion.
·
gilts
· lo
an s
tock
w
-'
()1
-' +>
G) ~ m
JJ z s: m
z -I
G) ~ 5
m
()1 § o III m
JJ
I\) o o co
48
No
. T
ask
Kn
ow
led
ge
Cri
teri
a I
Ski
ll C
rite
ria
I I D
escr
ibe
the
Typ
es o
f eq
uity
-bas
ed i
nves
tmen
ts
incl
udin
g bu
t n
ot
limite
d to
: •
shar
es
Exp
lain
how
col
lect
ive
inve
stm
ent
sche
me
port
folio
s ar
e cl
assi
fied
in a
ccor
danc
e w
ith t
he A
ssoc
iatio
n fo
r S
avin
gs a
nd I
nves
tmen
t for
SA
(A
SIS
A)
Cod
e of
P
ract
ice
rela
ting
to F
und
Cla
ssifi
catio
ns f
or S
A
Reg
ulat
ed C
I P
ortfo
lios.
E
xpla
in t
he d
iffer
ence
bet
wee
n an
app
rove
d lo
cal
CIS
and
a fo
reig
n ap
prov
ed C
IS a
nd t
he
imfJ
Iicat
ions
for
the
clie
nt.
Des
crib
e th
e st
ruct
ure
of a
Col
lect
ive
Inve
stm
ent
Sch
eme.
Des
crib
e th
e di
ffer
ent t
ypes
of
Col
lect
ive
Inve
stm
ent
!
Sch
emes
incl
udin
g bu
t n
ot l
imite
d to
: I
• U
nit T
rust
s
· • O
pen-
End
ed I
nves
tmen
t Com
pani
es (
OIE
Cs)
P
artic
ipat
ory
Bon
ds
• C
olle
ctiv
e In
vest
men
t Sch
emes
in P
rope
rty
D
escr
ibe
the
uniq
ue c
hara
cter
istic
s o
f a
colle
ctiv
e
inve
stm
ent s
chem
e in
clud
ing
but
not l
imite
d to
: T
rans
pare
ncy
•
Affo
rd a
bilit
y
Ta
x E
ffect
iven
ess
'.
Li
quid
ity
· · Dif
fere
nti
ate
bet
wee
n th
e di
ffer
ent t
ypes
of C
IS
port
folio
s (e
.g.
bond
s vs
. eq
uitie
s) i
nclu
ding
but
not
lim
ited
to:
· • E
quity
Fun
ds
Inco
me
Fun
ds
• B
ond
Fun
ds
· · • H
edge
Fun
ds
Pro
pert
y F
unds
R
and
Den
omin
ated
Fun
ds
(JJ ~ ~ A o m
JJ » z :-i
(]J 8 o OJ m
JJ
N o o co z o W
..
.J. ~
-I'>
--.I
(I)
I
9
49
. I
Ta
sk
--
Kn
ow
led
ge
Cri
teri
a
· • F
orei
gn F
un
ds
Fun
d of
Fun
ds
• M
ulti-
Man
ager
Fun
ds
Diff
eren
tiate
bet
wee
n fu
nd m
anag
ers
and
thei
r ap
proa
ches
.
· Dis
cuss
the
initi
al a
nd o
ngoi
ng c
osts
inv
olve
d in
with
C
olle
ctiv
e In
vest
me
nt S
chem
es i
nclu
ding
: In
itial
fee
s •
Bro
kera
ge f
ees
• A
nnua
l ser
vice
fees
· • V
AT
P
ortfo
lio C
harg
es
• S
witc
hing
Cos
ts
Tra
iler
Fee
s E
xpla
in t
he t
ax
impl
icat
ions
invo
lved
in C
olle
ctiv
e In
vest
me
nt S
che
me
s in
clud
ing
Cap
ital
Gai
ns T
ax.
· Diff
eren
tiate
bet
wee
n th
e di
ffer
ent t
ypes
of
tran
sact
ions
in a
col
lect
ive
inve
stm
ent
sche
me
port
folio
. E
xpla
in t
he p
roce
ssin
g im
plic
atio
ns r
elat
ed t
o co
llect
ive
inve
stm
ent
sche
me
tran
sact
ions
(e.
g.
_v§l
.luat
ion,
pric
ing)
. D
iscu
ss t
he c
osts
inv
olve
d w
ith t
he v
ario
us
colle
ctiv
e in
vest
men
t sc
hem
e tr
ansa
ctio
ns.
Dis
cuss
the
ta
x im
plic
atio
ns in
volv
ed w
ith c
olle
ctiv
e in
vest
me
nt s
chem
es.
Indi
cate
ho
w c
olle
ctiv
e in
vest
men
t sch
emes
are
re
port
ed in
the
me
dia
incl
udin
g b
ut n
ot l
imite
d to
: •
NA
V
· · Y
ield
P
rice
Ski
ll C
rite
ria
Com
mun
icat
e th
e im
plic
atio
ns o
f a t
rans
actio
n re
latin
g to
a c
olle
ctiv
e in
vest
men
t sc
hem
e po
rtfo
lio
to t
he c
lient
.
Cal
cula
te t
he v
alue
of
a cl
ient
s' i
nve
stm
en
t in
a co
llect
ive
inve
stm
ent
sche
me
port
folio
usi
ng f
und
fact
she
ets
and
info
rmat
ion
prov
ided
in t
he
med
ia.
I
(I) o z (.i) ... (J1 ... -I>
G) ~ m
JJ z s: m
z .., G) f:j m
:j
Jl1
(J1 § o OJ
m
JJ
tv
o o co
------
50
Tas
l, K
no
wle
dg
e C
rite
ria
------+---~--~----
Tot
al E
xpen
se R
atio
s (f
ER
) V
alue
and
Dis
trib
utio
ns
Per
form
ance
E
xpla
in t
he c
once
pt o
f hi
stor
ical
per
form
ance
.
Dis
cuss
the
co
nte
nt
and
purp
ose
of f
act
shee
ts in
as
sist
ing
a cl
ien
t to
ma
ke a
n ap
prop
riat
e in
vest
men
t
Ski
ll C
rite
ria
Inte
rpre
t a
clie
nt s
tate
me
nt
for
a co
llect
ive
inve
stm
en
t sc
hem
e n
nrt
fnlin
Dis
cuss
re
qu
ire
me
nts
rel
atin
q to
the
re
port
ing
of
colle
ctiv
e in
vest
me
nt
sche
mes
.
ma
na
ge
me
nt
sch
em
e
Dis
cuss
the
rel
evan
ce o
f di
sclo
sure
s, r
ecor
d of
S
truc
ture
a
to a
clie
nt t
o en
able
the
m t
o a
dvi
ce a
nd t
he F
AIS
cod
e of
con
duct
whe
n I-
----
i---
--~~
~~~~
. --:c--
__--:-
--I-
!..::::d
..::::ev~e
=-:I-=-0r:
.p:.:..:in
g a fi
nanc
ial
plan
ning
re
po
rt
the
finan
cial
pla
n an
d re
com
me
nd
atio
ns.
ma
ke a
n ap
prop
riat
e in
vest
me
nt
deci
sion
Pro
cess
the
tra
nsac
tion
time
ou
sly
and
in
acco
rdan
ce w
ith r
eg
ula
tory
req
uire
men
ts.
Mon
itor
the
finan
cial
pla
n an
d D
iscu
ss c
lient
exp
ect
atio
ns
aft
er
the
pu
rch
ase
of
a6.
re
com
men
datio
ns.
colle
ctiv
e in
vest
me
nt
sch
em
e p
ortf
olio
.
Ul ~
'--
I U
l A
0 m
JJ
~
Z
;-I
-'
01
0 ~
OJ
m
JJ
I\l
0 0 OJ z o w
-'
(JI
-'
.j;>.
0) .....
51
Se
ctio
n 9
: R
E 9
: S
econ
d Le
vel
Re
gu
lato
ry E
xam
ina
tion
: S
ecu
ritie
s A
nd
In
stru
me
nts
All
repr
esen
tativ
es p
erfo
rmin
g fin
anci
al s
ervi
ces
in r
elat
ion
to c
ateg
ory
I, II
and/
or I
IA d
ealin
g w
ith s
ubca
tego
ries
reso
rtin
g un
der
Sec
uriti
es
and
Inst
rum
ents
are
req
uire
d to
com
plet
e a
first
lev
el r
egul
ator
y ex
amin
atio
n, b
ased
on
the
qual
ifyin
g cr
iteria
as
it ap
pear
s in
Sec
tion
4 an
d a
seco
nd l
evel
reg
ulat
ory
exam
inat
ion
base
d on
the
qua
lifyi
ng c
riter
ia in
Sec
tion
9.
(2)
Exa
min
atio
n bo
dies
hav
e th
e di
scre
tiona
ry p
ower
s to
off
er a
com
bina
tion
exam
inat
ion
for
repr
esen
tativ
es w
orki
ng w
ith c
ateg
ory
I, II
and/
or
IIA d
ealin
g w
ith s
ubca
tego
ries
res
ortin
g un
der
Sec
uriti
es a
nd I
nstr
umen
ts,
whe
re s
uch
repr
esen
tativ
es m
ay c
hoos
e to
com
plet
e on
e ex
amin
atio
n th
at a
ddre
sses
the
qua
lifyi
ng c
riter
ia a
s it
appe
ars
in S
ectio
ns 4
and
9.
(3)
The
rel
evan
t su
bcat
egor
ies
in S
ecur
ities
and
Ins
trum
ents
are
to
be t
aken
int
o ac
coun
t w
hen
sele
ctin
g th
e qu
alify
ing
crite
ria
that
form
the
ba
sis
of th
e re
leva
nt s
econ
d le
vel
regu
lato
ry e
xam
inat
ion.
E
xam
inat
ion
bodi
es a
re r
equi
red
to p
acka
ge th
e se
cond
leve
l re
gula
tory
ex
amin
atio
n ac
cord
ing
to t
he s
ubca
tego
ries.
T
he q
ualif
ying
crit
eria
in S
ectio
n 4
and
Sec
tion
9 se
rve
as t
he c
riter
ia a
gain
st w
hich
qua
lific
atio
ns w
ill be
eva
luat
ed f
or i
nclu
sion
on
the
list
of r
ecog
nise
d qu
alifi
catio
ns.
Ta
sk
__L
Kn
ow
led
ge
Cri
teri
a
Ski
ll C
rite
ria
G
ener
al t
o a
ll
I~1~--
rRe
fra
mtr
om
act
ion
sth
atc
an
U
nder
stan
d th
e di
ffer
ent
form
s of
mar
ket
abus
e in
clud
ing
insi
der
-\
be r
egar
ded
as m
arke
t tr
adin
g, p
rohi
bite
d tr
adin
g pr
actic
es a
nd m
akin
g fa
lse,
mis
lead
ing
ab
use.
or
dec
eptiv
e st
atem
ents
, pr
omis
es a
nd f
orec
asts
and
the
I
guid
elin
es w
ith r
egar
d to
adv
ertis
ing
and
publ
ishi
ng o
f pr
ice-
sens
itive
inf
orm
atio
n.
Und
erst
and
the
prin
cipl
es o
f de
rivat
ives
and
how
this
inf
luen
ces
Pro
vide
an
inve
stm
ent
stra
tegy
bas
ed
resp
ect
to i
nves
tmen
t P
rovi
de a
dvic
e to
clie
nts
with
2
on t
he e
cono
mic
env
ironm
ent.
stra
tegy
. in
vest
men
t st
rate
gy.
Dis
cuss
the
eco
nom
ic o
bjec
tives
in a
mar
ket
econ
omy.
(G
ener
al
to a
ll)
Exp
lain
the
im
pact
of
econ
omic
pol
icy
stra
tegi
es o
n th
e
econ
omy.
Com
pare
the
diff
eren
ces
betw
een
mon
etar
y po
licy
and
fisca
l po
licy
and
the
tool
s th
at f
orm
par
t of
eac
h th
at G
over
nmen
t
coul
d us
e to
inf
luen
ce t
he e
cono
m
. D
iscu
ss t
he b
usin
ess
cycl
e an
d th
e ef
fect
on
asse
t cl
asse
s an
d
all
sect
ors
(I)
!\) z <:) w
.....
01
...... ~
G) o < m
lJ
z !i::
m
z -I
G) ~ 9
.f11
.....
01
§ o CD
m
lJ
I\) o o (I)
52
not
limite
d to
Gro
ss D
omes
tic P
rodu
ct (
GO
P),
Priv
ate
Con
sum
ptio
n S
pend
ing,
Gov
ernm
ent
Spe
ndin
g, I
nves
tmen
t I s
pend
ing,
Con
sum
er p
rice
Inde
x (e
PI)
, P
rodu
cer
pric
e In
dex
~I}, a
nd C
urre
nt A
ccou
nt B
alan
ce.
I Dis
cuss
the
link
ages
bet
wee
n ec
onom
ic in
dica
tors
and
the
fo
llow
ing
vari
able
s in
the
eco
nom
y fo
r ex
ampl
e in
tere
st r
ates
, . b
ond
eric
es,
shar
e pr
ices
and
the
exc
han
e ra
te.
Det
erm
ine
the
stag
e in
the
bus
ines
s cy
cle
base
d on
the
ec
onom
ic i
ndic
ator
s.
3 P
rovi
de a
dvic
e to
clie
nts
vvith
re
spec
t to
exc
ha
ng
e tr
aded
D
iscu
ss t
he f
unct
ions
of
an e
xcha
nge.
inve
stm
ents
D
iscu
ss s
ecur
ities
lis
tings
and
wha
t di
sclo
sure
req
uire
men
ts
shou
ld b
e co
mpl
ied
with
.
Exp
lain
und
er w
hich
cir
cum
stan
ces
may
tak
e pl
ace
and
whi
ch d
iscl
osur
e re
quire
men
ts s
houl
d be
co
mel
ied
with
. In
dica
te w
hich
iss
ues
mus
t be
addr
esse
d ex
chan
ge.
the
rule
s of
an
Exp
lain
the
rol
e, f
unct
ions
and
dut
ies
of c
entr
al s
ecur
ities
de
posi
tori
es a
nd p
artic
ipan
ts,
wha
t un
cert
ifica
ted
secu
ritie
s ar
e an
d th
e ro
le p
laye
d by
issu
ers.
F
ore
ign
Exc
han
ge
Mar
kets
-on
beh
alf
of Ih
e "~[:e
Ihe
lerm
s '~oreign e
xcha
nge"
and "
exch
ange
ral
e"
clie
nt w
ithin
the
par
amet
ers
of
the
curr
ency
tra
ding
man
date
an
d gi
ve t
he c
lient
the
ap
prop
riate
adv
ice
I Exp
lain
the
diff
eren
ce b
etw
een
the
spot
mar
ket
and
forw
ard
mar
ket.
! Ide
ntify
the
part
icip
ants
in t
he f
orei
gn e
xcha
nge
mar
ket.
~Pia;n
Ih~m
oliv
atio
n fo
r fo
reig
n ex
chan
ge Ir
ansa
ctio
ns
Ski
ll C
rite
ria
Adv
ise
on t
he p
roce
dure
s o
f tr
adin
g on
an
exch
ange
tha
t ar
e in
lin
e w
ith
the
rule
s an
d re
gula
tions
of t
he
exch
ange
.
Pro
vide
adv
ice
on
tran
sact
ions
in t
he F
orei
gn e
xcha
nge
mar
ket
with
a v
iew
to o
ptim
isin
g in
vest
men
t re
turn
s.
Exe
cute
for
eign
exc
hang
e tr
ansa
ctio
ns o
n th
e in
stru
ctio
n of
the
cl
ient
.
~ '-i
(f) A o m
lJ » z .-1
(Jl o ~
1l
l m
lJ
I\:)
o o 00
z o w
.....
(J1 .....
.;:.
()) w
!No.
I
Ta
sk
I '--I I i I
I • I !I ,
II i I
I !
--r
.Kn
ow
led
ge
Cri
teri
a -
Ski
ll C
rite
ria
Des
crib
e th
e di
ffer
ent e
xcha
nge
rate
reg
imes
and
how
1
ex
chan
ge r
ates
are
man
aged
und
er t
he d
iffer
ent r
egim
es
\incl
udin
g fix
ed r
ate
exch
ange
rat
e sy
stem
s, s
emi-f
ixed
rat
e
. sys
tem
s, a
nd f
loat
ing
exch
ange
rat
e sy
stem
s.
1---
-~
I D
iscu
ss t
he f
acto
rs a
ffect
ing
exch
ange
rat
es i
nclu
ding
Ipu
rcha
sing
pow
er p
arity
, in
tere
st r
ate
fact
ors
and
the
bal
ance
of
a
men
t.
Def
ine
the
fore
x rn
arke
t an
d its
fea
ture
s an
d di
scus
s th
e
mec
hani
cs o
f tr
adin
g in
the
for
ex m
arke
t.
Nam
e th
e fe
atur
es o
f th
e fo
rex
ma
rke
t.
Des
crib
e th
e m
echa
nics
of t
radi
ng in
the
for
ex m
arke
t.
Def
ine
the
inte
rban
k m
arke
t. N
ame
the
feat
ures
of
the
inte
rban
k m
arke
t an
d de
scrib
e ho
w th
e pa
rtiC
ipan
ts c
ontr
ibut
e to
the
for
ex m
arke
t by
mar
ket
mak
ing.
~xplain
the
impa
ct o
f st
anda
rdis
atio
n an
d re
gula
tion
in t
he f
orex
i
mar
ket f
rom
the
per
spec
tive
of th
e in
tern
atio
nal
natu
re o
f the
I
mar
ket.
Des
crib
e th
e tw
enty
-fou
r ho
urs
per
day
natu
re o
f th
e fo
rex
mar
ket
and
the
impl
icat
ions
the
reof
for
tra
ders
. Id
entif
y fo
reig
n ex
chan
ge c
lass
ifica
tions
inc
ludi
ng t
he U
S d
olla
r,
maj
or c
urre
ncie
s, m
inor
cur
renc
ies,
exo
tic c
urre
ncie
s, e
mer
ging
m
arke
t cu
rren
cies
and
cur
renc
y ba
sket
s.
k
CD
.!>o z o w
..... ~
.!>o G) o <
m
:0
z s:: m
z -t
G) ~ 9
jT1
(}1 o ~ o tll m
:0
I\:)
o o OJ
Iden
tify
the
part
icip
ants
in t
he f
orex
mar
ket
and
expl
ain
the
reas
ons
for
usin
g th
e fo
rex
mar
ket
incl
udin
g ex
port
ers
and
impo
rter
s, f
orei
gn d
irect
inve
stor
s, f
orei
gn p
ortfo
lio in
vest
ors,
~e
cula
tive
pl'Q
Prie
tary
trad
jr1g.
E
xpla
in t
he i
mpa
ct o
f st
anda
rdiz
atio
n an
d re
gula
tion
in t
he f
orex
m
arke
t fro
m t
he p
ersp
ectiv
e of
the
inte
rnat
iona
l na
ture
of t
he
mar
ket.
- Dis
cuss
the
prin
cipl
es o
f the
Eur
o m
arke
t, in
tere
st r
ate
I. diff
eren
tials
, cu
rren
cy r
isk
and
outr
ight
for
war
ds.
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Ski
ll C
rite
ria
co
ncep
ts r
elev
ant
to p
ract
ical
ope
ratio
ns o
f for
ex
incl
udin
g, p
rime
brok
erag
e, w
hite
lab
ellin
g an
d ou
tsou
rcin
g,
I aut
o-pr
icin
g, s
trai
ght
thro
ugh
proc
essi
ng a
nd a
utom
atio
n.
[ E
xpla
in t
he c
once
pt o
f vol
atili
ty a
nd h
ow c
urre
ncy
is
I mea
sure
d.
! D
iscu
ss t
he t
wen
ty-f
our
hour
s pe
r d
ay
natu
re o
f the
for
ex m
arke
t
I__
__
__
__
__
__
lan
d th
e im
plic
atio
ns t
here
of f
ora
_d_v
_i_se
_r.,s._
.__
__
__
_
Des
crib
e ro
le
Con
clud
e an
d pr
oces
s in
vest
men
t in
clud
ing
mar
ket
mak
ers
and
brok
ers.
tr
ansa
ctio
ns in
the
for
eign
exc
hang
e 12
I .
E "-
I'"
I .
d'
. I
d'
. .
I m
arke
t w
ith a
vie
w to
opt
imis
ing
xp a
ln e
ect
rorll
c tr
a I~g
syst
ems
Inc
u In
g pr
oprie
tary
sin
g e-
inve
stm
ent
retu
rns.
ba
nk s
yste
ms
and
mul
ti-ba
nk s
yste
ms
or p
orta
ls.
I .-.
..-. .
...---,,-----:---
Dis
cuss
the
diff
eren
ces
betw
een
who
lesa
le a
nd r
etai
l tr
ader
s an
d lo
ng-,
med
ium
-an
d sh
ort-
term
tra
ders
.
._
._
-----
Def
ine
the
spot
mar
ket.
Pro
vide
adv
ice
on i
nves
tmen
t tr
ansa
ctio
ns in
the
3
Pro
vide
adv
ice
with
res
pect
to
tran
sact
ions
in t
he s
pot
mar
ket w
ith a
fo
reig
n ex
chan
ge m
arke
t .-
:-;-
--:-
_:-
-_-;
-:-;
--_
__
---:
--:-
_-:-
:-_-
--:-
-:-_
---:
--:c
:---
-+-;
;;;v
iew
to o
pti m
isin
g in
vest
me
nt r
etur
ns.
Exp
lain
the
fea
ture
s of
the
spot
mar
ket
and
be a
ble
to a
pply
its
Con
clud
e an
d pr
oces
s in
vest
men
t ri
nrl
nl.
"",
to c
ase
stud
ies.
tr
ansa
ctio
ns in
the
spo
t m
ark
et a
nd
appl
y th
e re
leva
nt m
athe
mat
ics
and
calc
ulat
ions
with
a v
iew
to o
ptim
isin
g in
vest
men
t re
turn
s.
Def
ine
and-:
--n-a-
m-e-t
:7h-e"
Cf:-e
-a-tu-
r-e-s-
o""f-
p--:ri-c
e-q-u-
o""'ta
-:-ti:-
o-n-,-
-:d:-i
re-c
-:t-a
-n-d
:-----
+ D
o s
pot f
orei
gn e
xch
ang
e ca
lcul
atio
n s
indi
rect
quo
tatio
ns,
bids
and
off
ers
and
the
deal
ing
spre
ad a
nd
incl
udin
g:
be a
ble
to d
o th
e re
quis
ite c
alcu
latio
ns.
calc
ulat
ing
dire
ct q
uota
tions
, .
calc
ulat
ing
"pip
" va
lues
and
the
~ISCUSS
the
conc
epts
and
prin
cipl
es r
elev
ant
to t
he spo~
mar
ket,
cost
of
the
trad
e,
time
fact
ors
and
valu
e da
te,
roll
over
and
cro
ss c
urre
ncie
s.
expr
essi
ng a
kno
wn
am
ou
nt
in
one
curr
ency
in t
erm
s o
f an
othe
r cu
rren
cy,
and
calc
ulat
ina
cros
s cu
rren
cy r
ates
.
(J) ~ :..;
(J) A o m
:D
:t>
Z
.-;
()1 o ~ o CD
m
:D
N )5
co z o c.>
()1 .....
,f>. ~
01
to
Ol z
5S
~ (.oJ .... .... ..,.
No.
T
ask
K
no
wle
dg
e C
rite
ria
Ski
ll C
rite
ria
4 P
rovi
de a
dvic
e to
clie
nts
with
re
spec
t to
for
war
d tr
ansa
ctio
ns in
the
for
eign
ex
chan
ge m
ark
et
Def
ine
the
forw
ard
fore
ign
exch
ange
mar
ket.
L::
:-..
. .
...
i E
xpla
in h
ow
the
quot
ing
of f
orw
ard
rate
s oc
curs
.
t C
oncl
ude
and
proc
ess
forw
ard
fore
ign
i e
xch
an
ge
inve
stm
ent t
rans
actio
ns in
th
e fo
rwar
d m
arke
t w
ith a
vie
w to
op
timis
ing
inve
stm
ent
retu
rns
. A
pply
the
prin
cipl
es o
f the
for
war
d fo
reig
n ex
chan
ge m
arke
t.
... D
escr
ibe
the
feat
ures
of t
he f
orei
gn e
xcha
nge
forw
ard
mar
ket.
Ap
ply
the
mat
hem
atic
s an
d ca
lcul
atio
ns r
elev
ant
to t
he f
orw
ard
....
fore
ign
exch
ange
mar
ket.
C
alcu
late
out
right
forw
ard
prem
ium
an
d di
scou
nt p
oint
s.
5 P
rovi
de a
dvic
e to
clie
nts
with
re
spec
t to
sw
aps
in t
he
fore
ign
exch
ange
ma
rke
t
loef
ine
curr
ency
sw
aps.
Con
clud
e an
d pr
oces
s sw
ap
tr
ansa
ctio
ns in
the
for
eign
exc
hang
e m
arke
t w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
retu
rns.
,
Dis
cuss
the
fea
ture
s of
cur
renc
y sw
aps,
the
mot
ivat
ion
for
usin
g cu
rre
ncy
sw
aps
and
be a
ble
to a
pply
its
prin
cipl
es.
Ap
ply
the
prin
cipl
es o
f the
cu
rre
ncy
sw
aps.
Exp
lain
the
pra
ctic
al a
pplic
atio
n of
fore
x sw
aps
and
be a
ble
to
appl
y th
e pr
inci
ples
to
case
stu
dies
, in
clud
ing
man
agin
g po
sitio
ns a
nd c
hang
ing
sett
lem
ent
date
s, h
edgi
ng i
nter
est
rate
di
ffer
entia
l ris
k, s
pecu
latin
g on
int
eres
t rat
e di
ffere
ntia
ls a
nd
arbi
trag
ing
the
fore
ign
exch
ange
and
int
eres
t rat
e m
arke
ts.
Ap
ply
the
mat
hem
atic
s an
d ca
lcul
atio
ns r
elev
ant
to c
urr
en
cy
swap
s.
Dis
cuss
the
fea
ture
s o
f the
cur
renc
y sw
aps,
the
mot
ivat
ion
for
6 I
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to f
utur
es i
n th
e fo
reig
n e
xch
an
ge
mar
ket.
usin
g fo
rex
swap
s, q
uota
tion
of fo
rex
swap
s an
d be
abl
e to
ap
ply
its p
rinci
ples
. 1
Def
ine
fore
ign
exch
ange
fut
ures
.
Exp
lain
the
fea
ture
s of
fore
ign
exch
ange
futu
res
and
be a
ble
to
dist
ingu
ish
them
iro
m O
Te io
rwar
ds.
Con
clud
e an
d pr
oces
s fu
ture
s tr
ansa
ctio
ns in
the
for
eign
exc
hang
e m
ark
et
with
a v
iew
to o
ptim
iSin
g in
vest
men
t ret
urns
.
o o < m
II
z s: m
z -l
G) ~ 9
rn 01
o ~
OJ
m
lJ
III @
7
56
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to o
ptio
ns in
the
fo
reig
n ex
chan
ge m
arke
t.
Pro
vide
adv
ice
to c
lient
s v'I
'ith
resp
ect
to o
ptio
ns in
the
fo
reig
n ex
chan
ge m
ark
et
Dis
cuss
the
met
hods
of
anal
ysis
use
d in
the
for
ex m
arke
t re
spec
t to
fu
ndam
enta
l P
rovi
de a
dvic
e to
clie
nts
with
9
fund
amen
tal
anal
ysis
, te
chni
cal
anal
ysis
and
rel
atio
nal
anal
ysis
in t
he fo
reig
n an
alys
is.
exch
ange
mar
ket.
Und
erst
and
the
loca
l I D
iscu
ss t
he l
ocal
exc
hang
e co
ntro
l re
stric
tions
. ex
chan
ge c
ontr
ol r
estr
ictio
ns.
10
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to r
isk
ma
na
ge
me
nt
in t
he to
reiQ
n ex
chan
ge
mar
ket.
I Exp
lain
how
op
tions
are
use
d to
spe
cula
te a
nd h
edge
.
Dis
cuss
opt
ion
valu
atio
n in
clud
ing
but
not
limite
d to
: w
hat
you
buy,
th
e va
lue
over
a c
erta
in p
erio
d of
tim
e,
nam
e th
e op
tions
, I' '
put
and
call,
I.. • m
ust
be a
ble
to i
nter
pret
the
ans.
wer
, in
terp
ret
payo
ff pr
ofile
s.
.. -------,-------1
1
Exp
lain
the
con
cept
of
delta
and
how
a d
elta
hed
ge t
akes
pla
ce.
Exp
lain
how
inv
esto
rs in
crea
se t
heir
leve
rage
by
mak
ing
mar
gin
\ de
posi
ts.
mar
gin
Exp
lain
the
con
cept
of
leve
rage
as
appl
ied
in t
he f
orex
mar
ket.
Dis
cuss
the
risks
inv
olve
d in
for
ex in
vest
men
ts in
clud
ing
mar
ket
risk,
exc
hang
e ra
te r
isk,
cou
nter
part
y ris
k, l
iqui
dity
ris
k,
com
mon
-fac
tor
risk,
eve
nt r
isk,
mod
el r
isk,
tra
der/
man
ager
ris
k,
leve
rage
ris
k, c
apac
ity r
isk,
fra
ud r
isk,
per
form
ance
m
anag
emen
t ris
k an
d op
erat
iona
l ris
k.
I Ch
ara
cte
rist
ics
of
ma
rke
ts a
nd
tra
din
g s
yste
ms
and
me
tho
do
log
ies
L-_
__
__
__
__
__
__
_
Ski
ll C
rite
ria
C
oncl
ude
and
proc
ess
optio
n tr
ansa
ctio
ns i
n th
e fo
reig
n ex
chan
ge
mar
ket
with
a v
iew
to o
ptim
isin
g in
vest
men
t re
turn
s.
Cal
cula
te t
he v
alue
of
curr
ency
op
tions
at
expi
ry a
nd p
rior
to e
xpiry
.
Adh
ere
to m
argi
n re
quire
men
ts w
hen
proc
essi
ng t
rans
actio
ns
in f
utur
es.
Per
form
fun
dam
enta
l, te
chni
cal
and
rela
tiona
l an
alys
is in
the
for
eign
ex
chan
ge m
arke
t w
ith a
vie
w to
op
timiS
ing
inve
stm
ent
retu
rns.
App
ly t
he lo
cal
exch
ange
con
trol
re
stric
tions
in a
tran
sact
ion.
App
ly r
isk
man
agem
ent
prin
Cip
les
in
the
fore
ign
exch
ange
mar
ket
with
a
view
to o
ptim
isin
g in
vest
men
t re
turn
s.
__
__
__
__
__
__
__
__
__-L
__
__
__
__
__
__
__
__
__
__
__
__~
(j) ~ =-j
(j) 6 m
lJ
:t> z --1
01 o ~
OJ
m
lJ
r\) o o CD z ~
(..i) 01
.1>0
CD
o"j
11
INo,
I
Ta
sk
12
. Pro
vid
e a
dvic
e to
clie
nts
with
,
resp
ect
to d
iffer
ent
busi
ness
I
stru
ctu
res.
J .. Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to i
nves
tmen
t op
port
uniti
es in
diff
eren
t ca
pita
l st
ruct
ures
.
10
14
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to d
iffer
ent
mar
ket
stru
ctur
es,
I 15
-P
rovi
de a
dvic
e to
clie
nts
with
It
:om
pa
re th
e di
ffer
ent
trad
ing
syst
ems
used
by
exch
ange
s re
spec
t to
exc
hang
e tr
aded
in
clud
ing
orde
r-dr
iven
or
auct
ion
mar
kets
, qu
ote
driv
en o
r de
aler
in
vest
men
ts.
mar
kets
. f-
c. Exp
lain
tra
ding
rne
thod
olog
y of
sto
ck m
arke
ts a
nd b
e ab
le t
o di
ffere
ntia
te b
etw
een
call
mar
kets
and
con
tinuo
us m
arke
ts.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he a
pplic
atio
n o
f st
ock
mar
ket i
ndic
es
~.
57
Kn
ow
led
ge
Cri
teri
a
Ski
ll C
rite
ria
Exp
lain
the
diff
eren
ce b
etw
een
priv
ate
com
pani
es,
sole
tra
ders
, S
ugge
st a
n ap
prop
riate
bus
ines
s pa
rtne
rshi
ps a
nd p
ublic
com
pani
es,
colle
ctiv
e in
vest
men
t S
truc
ture
. I s
chem
es .
I In
dica
te t
he d
iffer
ent t
ypes
of
long
-ter
m f
unds
use
d b
y I
com
pani
es,
bein
g de
bt,
pref
eren
ce s
hare
s an
d or
dina
ry s
hare
s,
gene
ra!
-com
pany
fina
ncia
l st
ruct
ures
.
Dis
cuss
the
diffe
rent
pro
pert
ies
of d
ebt f
inan
cing
, co
nver
tible
in
stru
men
ts,
shar
es a
nd p
refe
renc
e sh
ares
incl
udin
g m
atur
ity,
seni
ority
of
clai
m.
tax
trea
tmen
t in
res
pect
of t
he i
ssui
ng
com
pany
and
the
inv
esto
r /
debt
com
pany
. (g
ener
al c
om
pa
ny
finan
cial
str
uctu
res)
. I D
iscu
ss th
e ch
arac
teris
tics
of
effic
ient
mar
kets
.
Dis
cuss
the
func
tions
and
cha
ract
eris
tics
of p
rimar
y m
arke
ts a
nd
be a
ble
to d
iffer
entia
te b
etw
een
seas
oned
new
issu
es a
nd i
nitia
l pu
blic
offe
rings
. E
xpla
in w
hat
seco
ndar
y m
arke
ts a
re a
nd c
ompa
re t
he d
iffer
ence
be
twee
n ov
er-t
he-c
ount
er (
OT
C)
mar
kets
and
sto
ck e
xcha
nges
,
Exp
lain
fin
anci
al m
arke
t ind
ices
and
ind
icat
e w
hat t
hey
are
used
fo
r. (
gene
ral),
I
Dis
cuss
the
fact
ors
cons
ider
ed w
hen
bui!d
ing
finan
cia!
ind
ices
.
Giv
e e
xam
ples
of t
he a
bove
-sai
d in
dice
s lo
cally
and
in
tern
atio
nally
,
Eva
luat
e di
ffere
nt c
apita
l st
ruct
ures
.
Com
pare
and
eva
luat
e di
ffer
ent
mar
ket
stru
ctur
e.
Com
pare
and
eva
luat
e di
ffer
ent
exch
ange
s lo
cally
and
int
erna
tiona
lly.
Sug
gest
an
appr
opri
ate
mar
ket i
ndex
as
a b
ench
mar
k fo
r ev
alua
ting
an
inve
stm
ent
port
folio
,
.
!D
(I) z 9 (.,)
01
-J.
.j>. G) o <
m
Jl z s:: m
z -i
G) ~ 9
m
01 o ~
!l
l m
Jl
N 8 !D
16
58
No.
K
no
wle
dg
e C
rite
ria
S
kill
Cri
teri
a
I I E
xpla
in t
he d
iffer
ent
wei
ghtin
g sc
hem
es u
sed
whe
n co
nstr
uctin
g ~ndiceSinC1Uding p
,ice-
wei
ghte
d se
,ies,
val
ue-w
eigh
ted
se,ie
s I I
and
unw
eigh
ted
or e
qual
ly w
eigh
ted
serie
s.
I E
xpla
in t
he u
se o
f th
ea
bo
ve-m
en
tion
ed
ser
ies
as b
ench
mar
ks
JI,
whe
n m
easu
ring
the
perf
orm
ance
of a
por
tfolio
. .~
Eq
uit
y a
nd
th
e B
usi
ne
ss C
ycle
17
! P
rovi
de a
dvic
e to
clie
nts
Wi!!
l I E
xpla
in w
hy s
tock
mar
kets
ant
icip
ate
the
busi
ness
cyc
le t
urni
ng
I Sel
ect
appr
opria
te e
quity
I
resp
ect
to t
he p
erfo
rman
ce o
f ~oints.
i in
vest
men
ts.
Idi
ffere
nt t
ypes
of
shar
es in
In
dica
te w
hich
typ
es o
f in
dust
ries
typi
cally
per
form
we
lliill
I
rela
tion
to t
he b
usin
ess
cycl
e.
, di
ffere
nt s
tage
s o
f the
bus
ines
s cy
cle
and
be a
ble
to p
inpo
int
the
I I
._
.
Fin
an
cia
l S
tate
me
nt
An
aly
sis
an
d M
ea
sure
s o
f C
orp
ora
te P
erf
orm
an
ce
.....
18
I eco
nom
ic f
acto
rs a
pply
ing
e.g.
int
eres
t ra
te c
hang
es,
cons
umer
I
'. s£
lend
ing
etc.
,
Dis
cuss
the
exp
ecte
d pe
rfor
man
ce o
f cyc
lical
and
def
ensi
ve
I sh
ares
. ~'.-
Com
pare
the
diffe
renc
e be
twee
n gr
owth
and
val
ue s
hare
s an
d in
dica
te th
e ch
arac
teris
tics
of e
ach,
--
--_.
Com
pare
the
diffe
rent
inve
stm
ent s
tyle
s un
der
diffe
rent
mar
ket
cond
ition
s.
Per
form
fin
anci
al s
tate
men
t an
alys
is.
finan
cial
sta
tem
ent
anal
ysis
. no
rmal
ised
or
com
mon
-siz
e st
atem
ents
. P
rovi
de a
dvic
e w
ith r
espe
ct t
o I
Exp
lain
the
purp
ose
of d
etec
ting
tren
ds,
indu
stry
com
paris
ons,
I
Inte
rpre
t fin
anci
al s
tate
men
ts.
I.....
I
Def
ine
earn
ings
per
sha
re,
divi
dend
s pe
r sh
are
and
book
val
ue
Cal
cula
te e
arni
ngs
per
shar
e,
divi
dend
s pe
r sh
are,
boo
k va
lue
per
shar
e, t
he P
IE r
atio
, ne
t ass
et v
alue
I
per
shar
e.
I an
d di
vit::
lend
grow
th.
~Calcu
fate a
nd d
iscu
ss th
e fu
lluV
YII'
\:j m
easu
res
of c
orpo
rate
P
repa
re,
perf
orm
and
inte
rpre
t ra
tio
perf
orm
ance
, in
clud
ing
but n
ot li
mite
d to
: ea
rnin
gs p
er s
hare
, an
alys
is.
divi
dend
s pe
r sh
are
and
book
val
ue p
er s
hare
, th
e P
IE r
atio
, ne
t as
set
valu
e an
d di
vide
nd g
row
th
(f) ~ '-I
(f) 6 m
JJ » z --
I .... U1 o ~
CD
m
JJ
I\
) o o Ol z o w
.... U1 .... .!> co
c.o
-----
---
59
! T
ask
K
no
wle
dg
e C
rite
ria
S
kill
Cri
teri
a D
efin
e ra
tio a
naly
sis,
in
part
icul
ar li
quid
ity r
atio
s, a
sset
· P
repa
re a
nd i
nter
pret
rat
io a
naly
sis
to
ma
na
ge
me
nt
or a
ctiv
ity r
atio
s, f
inan
cial
-lev
erag
e ra
tios,
and
co
mpa
re p
erfo
rman
ce,
in p
artic
ular
pr
ofita
bilit
y ra
tios.
liq
uidi
ty r
atio
s, a
sse
t-m
an
ag
em
en
t or
ac
tivity
rat
ios,
fin
anci
al-l
ever
age
L~
L
I ra
tios,
and
prof
itabil
ityLC
-'ra""t
:.::io:
.::sC-
'.__
_--"
E
qu
ity
Va
lua
tio
n
19
P
rovi
de a
dvic
e to
clie
nts
with
[
Exp
lain
wha
t fu
ndam
enta
l an
alys
is is
and
ind
icat
e w
hich
fa
cto
rsS
eT
ect
and
appl
y th
e di
vide
nd
resp
ect
to e
quity
val
uatio
n I
are
used
whe
n an
alY
Sin
g a
com
pany
. di
scou
nt m
odel
s in
clud
ing
the
Gor
don
theo
ry.
Gro
wth
mod
el,
the
two
-sta
ge
mod
el
and
the
thre
e-st
age
mod
el t
o eq
uity
va
luat
ion
as a
pplic
able
.
Exp
lain
the
diff
eren
t ap
proa
ches
to
equi
ty v
alua
tion
-d
isco
un
t I
App
ly F
ree
Cas
h-flo
w to
Equ
ity
mod
els,
cos
t of
cap
ital
and
rela
tive
valu
atio
n te
chni
ques
. (F
CF
E)
mod
els
-~
Per
form
rel
ativ
e va
luat
ions
, in
clud
ing
pric
e I e
arni
ngs
ratio
and
ma
rke
t I D
iscu
ss a
nd b
e ab
le t
o a
pp
ly th
e di
vide
nd d
isco
unt
mod
els.
---
'-
(pric
e) t
o bo
ok v
alue
. lE
xp
lain
and
be
able
to
app
ly F
ree
Cas
h-flo
w to
Equ
ity (
FC
FE
) ! m
odel
s.
. E
xpla
in a
nd b
e ab
le t
o a
pply
rel
ativ
e va
luat
ion
tech
niqu
es
incl
udin
g pr
ice
I ea
rnin
gs r
atio
and
ma
rke
t (p
rice)
to
book
val
ue.
Off
er i
nves
tmen
t ad
vice
afte
r re
spec
t to
th
e i
mpa
ct
20
! P
rovi
de a
dvi
ce to
clie
nts
with
E
xpla
in w
hat
a co
mpe
titiv
e st
rate
gy is
and
dis
cuss
its
cons
ider
ing
the
impa
ct o
f m
an
ag
em
en
t q
ua
lity
has
on
foun
datio
ns a
nd c
ompe
titiv
e ad
vant
age.
m
anag
emen
t q
ua
lity
on t
he v
alue
of
a E
xpla
in h
ow
qua
lity
of m
an
ag
em
en
t im
pact
s on
the
va
lue
of
a co
mpa
ny.
com
pany
.
Po
rtfo
lio T
he
ory
an
d R
isk
the
valu
e o
f a
com
pany
.
CC
lnst
ruct
and
man
age
a po
rtfo
lio.
resp
ect
to p
ortf
olio
ana
lysi
s.
_ al
loca
tion,
sec
tor
anal
YS
iS,
secu
rity
ana
lysi
s, p
ortfo
lio a
naly
sis
-a
nd
por
tfolio
sel
ectio
n.
Dis
cu
ss th
e as
sum
ptio
ns u
nder
lyin
g po
rtfo
lio m
anag
emen
t.
21
Pro
vide
adv
ice
to c
lient
s w
ith ID
iscu
ss th
e ph
ases
of
port
folio
man
agem
ent,
inc
ludi
ng a
sset
Cal
cula
te e
xpec
ted
retu
rn,
vari
ance
an
d st
anda
rd d
evia
tion
and
cons
truc
t an
eff
icie
nt fr
ontie
r.
(0
0 z !:l ~
(]1
.....
.j:
> Q o <
m
lJ
z s:: m
z -I
Q ?:J 9
Jl1
(]1
o () d OJ
m
:0
f\) o o Ol
22
23
24
Ta
sk
Kn
ow
led
ge
Cri
teri
a S
kill
Cri
teri
a po
rtfo
lio a
naly
sis
and
be a
ble
to u
se a
nd c
alcu
late
P
erfo
rm a
sset
allo
catio
n, s
ect
or
retu
rn,
varia
nce
and
stan
dard
dev
iatio
n, t
he e
ffic
ient
se
curit
y an
alys
is,
port
folio
fr
ontie
r an
d po
rtfo
lio s
elec
tion.
an
alys
is a
nd p
ortfo
lio s
elec
tion.
Indi
cate
se
curi
ty a
naly
sis
is a
nd b
e ab
le t
o us
e an
d ca
lcul
ated
the
fol
low
ing:
exp
ecte
d re
turn
, va
riabi
lity
of
retu
rn,
the
norm
al p
roba
bilit
y di
strib
utio
n. c
ovar
iant
s an
d co
rrel
atio
n co
effic
ient
s.
Dis
cuss
the
ass
umpt
ions
und
erly
ing
the
capi
tal
asse
t pr
icin
g m
odel
and
th
e si
gnifi
canc
e o
f the
cap
ital
mar
ket
line
and
the
secu
rity
ma
rke
t lin
e.
Dis
cuss
the
ass
umpt
ions
and
how
to
use
them
inc
ludi
ng t
he
Dis
cuss
the
cap
ital
asse
t si
ngle
ind
ex m
odel
, al
pha'
s an
d be
tas
and
mul
ti-in
dex
mod
els.
m
odel
inc
ludi
ng t
he r
equi
red
rate
of
retu
rn (
cost
of
equi
ty)
and
ho
w to
ju
dge
the
reas
onab
lene
ss o
f in
vest
men
t ob
ject
ives
.
Exp
lain
wha
t tec
hnic
al a
naly
sis
is a
nd b
e ab
le to
diff
eren
tiate
it
Per
form
tec
hnic
al a
naly
sis.
fr
om f
unda
men
tal
anal
ysis
.
L..
....-
----------1
D
escr
ibe
the
uses
of t
echn
ical
ana
lysi
s.i
~iSC.. U.
ssth
e d
iffer
ent s
tock
mar
ket
char
ts a
nd e
xpla
in h
ow
to
Inte
rpre
t It
--------~~~~~~~------------------~----------------------------~
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he d
iffer
ent
port
folio
the
ory
mod
els
empl
oyed
in p
ortf
olio
an
alys
is.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
echn
ical
ana
lysi
s.
I ----------~
Pro
vide
adv
ice
inte
rmed
iary
ser
vice
s to
cl
ient
s w
ith r
espe
ct t
o de
rivat
ive
inst
rum
ents
in t
he
equi
ty m
arke
t.
wha
t a
futu
res
cont
ract
is a
nd i
ndic
ate
its c
hara
cter
istic
s as
soci
ated
ris
ks.
---:---:----:-----,:-:--------:-----------1
1 o
ptim
isin
g in
vest
men
t re
turn
s
the
diff
eren
ce b
etw
een
hedg
ing
and
spec
ulat
ing.
Off
er in
vest
men
t ad
vice
on
the
appr
opria
te c
hoic
e o
f D
eriv
ativ
e or
un
derly
ing
inve
stm
ent w
ith a
vie
w to
(fJ ~
:.
-j
(fJ A o m
:IJ » z :-l
01 o ~
OJ
m
:IJ
I\
) o o OJ z o til
01 ~ "'" r.c ...
61
No.
T
ask
I K
no
wle
dg
e C
rite
ria
Exp
lain
arb
itrag
e w
ith r
espe
ct to
sha
re f
utur
es.
I A
dditi
onal
reg
uire
men
t for
Cat
egor
l' IIA
: m
ust
unde
rsta
nd t
he
use
and
effe
ct o
f le
vera
ge w
hen
usin
g de
rivat
ives
~ a
nd t
he
impa
ct o
f the
use
of
leve
rage
on
payo
ff p
rofil
es.
Add
in t
he
issu
e of
sho
rt s
ellin
g ~
appl
icab
le t
o al
i ca
tego
ries
in h
edge
fu
nds,
add
in
the
shor
t sel
ling
of in
stru
men
ts,
the
proc
ess
of
I se
lling
sho
rt,
the
prin
cipl
e of
ens
urin
g th
at y
ou h
ave
a so
urce
to
I bo
rrow
sec
uriti
es f
rom
bef
ore
you
shor
t th
em
, ha
ve a
gree
men
ts
in p
lace
. 25
P
rovi
de a
dvic
e to
clie
nts
with
In
dica
te w
hat
the
appr
opri
ate
deriv
ativ
es s
trat
egy
is f
or a
n re
spec
t to
der
ivat
ive
inve
stor
tha
t is
bul
lish
abou
t the
mar
ket.
inst
rum
ents
. In
dica
te w
hat
the
appr
opria
te d
eriv
ativ
es s
trat
egy
is f
or a
n in
vest
or th
at is
bea
rish
abou
t the
mar
ket.
26
Pro
vide
adv
ice
to c
lient
s w
ith
I Exp
lain
wha
t an
opt
ion
is a
nd i
ndic
ate
its c
hara
cter
istic
s an
d re
spec
t opt
ions
in t
he e
quity
as
soci
ated
ris
ks.
mar
ket.
Exp
lain
the
pos
sibl
e ou
tcom
es o
f sp
ecul
atin
g w
ith c
ali
optio
ns
and
put
optio
ns.
~,---~
27
Pro
vide
adv
ice
to c
lient
s w
ith
Exp
lain
how
to u
se s
wap
s to
hed
ge e
quity
pos
ition
s re
spec
t to
swap
s in
the
equ
ity
mar
ket.
Pro
vide
adv
ice
to c
lient
s w
ith
Exp
lain
wha
t a
sing
le s
tock
fut
ure
is a
nd d
iscu
ss it
s re
spec
t to
sin
gle
stoc
k ch
arac
teri
stic
s an
d as
soci
ated
ris
ks,
and
do t
he s
ame
for
CF
O's
. fu
ture
s.
, 28
P
rovi
de a
dvic
e to
clie
nts
with
E
xpla
in w
hat a
war
rant
is a
nd d
iscu
ss it
s ch
arac
teris
tics.
re
spec
t w
arra
nts
in t
he e
quity
m
arke
t. E
qu
ity
exch
ang
es in
gen
eral
-
Ski
ll C
rite
ria
Sug
gest
an
appr
opri
ate
deri
vativ
es
stra
tegy
.
Sug
gest
an
appr
opri
ate
optio
n st
rate
gy.
I Sug
gest
an
appr
opria
te s
wap
.
Off
er in
vest
men
ts a
dvic
e in
sin
gle
stoc
k fu
ture
s w
ith a
vie
w to
opt
imis
ing
inve
stm
ent r
etur
ns
Off
er in
vest
men
ts a
dvic
e on
war
rant
s w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
retu
rns.
\0
IIJ z ~
(.0) .....
(Jl .....
-l'> G1 o < m
II z s: m
z -l
G1 ~ m
::j m
(Jl o ~
OJ
m
II
N
g
___
30
31
62
Ta
sk
Pro
vide
ad
vice
to
clie
nts
with
E
xpla
in h
ow
ba
sed
resp
ect
to e
xch
an
ge
tra
ded
requ
irem
ents
and
re
gu
latio
ns
of
inst
rum
ents
. fu
nct
ion
s of
the
equ
ity e
xch
an
g--
e-s
----
--4
JS
E w
ith a
vie
w to
op
timis
ing
Exp
lain
the
Info
rm c
lient
s o
f th
e re
quir
emen
ts o
f e
xch
an
ge
tr
aded
ins
trum
ents
.
__
__
---"
we
ll).
ad
vice
to
clie
nts
with
re
spec
t to
cle
arin
g an
d se
ttle
me
nt
of
tran
sact
ions
.
Pro
vide
ad
vice
to
clie
nts
with
re
spec
t to
mo
ne
y m
ark
et
Exp
lain
the
pro
cess
of
listin
g a
shar
e an
d th
e va
rious
rig
hts
and
resp
onsi
bilit
ies
tha
t ar
ise
from
lis
ting.
,~~~~~----------~
Exp
!ain
th
e g
ener
ai r
.nn
r,m
c,,
,,
requ
irem
ents
, fo
r in
sta
nce
the
ne
ed
pu
rpos
e it
serv
es.
Co
mp
are
the
me
tho
ds
by
whi
ch s
ecur
ities
ma
y be
lis
ted
on a
n e
xch
an
ge
incl
udin
g in
trod
uctio
n, p
laci
ng,
offe
r fo
r sa
le,
issu
e w
ith p
artic
ipat
ion
or
conv
ersi
on r
ight
s, r
enou
ncea
ble
offe
r, r
ight
s of
fer,
cla
w-b
ack
offe
r, a
cap
italis
atio
n of
fer,
an
issu
e fo
r ca
sh,
an
acqu
isiti
on i
ssue
and
ve
nd
or
cons
ider
atio
n pl
acin
g, (
Tak
ing
into
co
nsid
erat
ion
that
the
re a
re s
peci
fic r
ules
rel
ated
to
JSE
as
ST
RA
TE
(sh
are
tra
nsa
ctio
ns
tota
lly e
lect
ron
ic)
Des
crib
e w
hat
ST
RA
TE
is a
nd e
xpla
in w
hat
serv
ices
it p
rovi
des.
.'
...
Indi
cate
whi
ch r
ole
play
ers
are
Invo
lved
In
the
clea
ring
and
sett
lem
en
t o
f tr
ansa
ctio
ns.
Co
mp
are
the
two
typ
es o
f clie
nts
incl
udin
g co
ntro
lled
clie
nts
and
no
n-co
ntro
lled
clie
nts.
Exp
lain
ho
w c
lear
ing
an
d s
ett
lem
en
t ta
kes
plac
e.
Des
crib
e th
e th
ree
lev
els
of
tha
t tak
es p
lace
wh
en
equ
ity
tran
sact
ions
occ
ur.
Exp
lain
the
me
tho
d b
y w
hich
se
ttle
me
nt t
akes
An
Ove
rvie
w
the
Mo
ne
y M
arke
t.
Inve
stm
ent
retu
rns.
Exp
lain
to
the
clie
nt
the
dltt
eren
ce In
th
e ri
sks
asso
ciat
ed w
ith i
nves
ting
in
liste
d ve
rsus
unl
iste
d se
curi
ties.
Adv
ise
on t
he C
lear
ing
and
sett
lem
en
t o
f ex
chan
ge t
rad
ed
tra
nsac
tions
.
Off
er in
v-es
tmen
t on
mo
ne
y m
ark
et
inst
rum
ents
with
a v
iew
to
Def
ine
the
mo
ne
y m
ark
et.
__
__
__
__
__
__
-L_
__
__
__
__
__
__
_
~ ~ ~ (J
) A o m
:0 » z .-i
......
(J1 o ~ o Ol m
:0
I\) o o co z o w
(J1 .....
.I>
!D
W
()]
Ski
ll C
rite
ria
Ta
sk
Kn
ow
led
ge
Cri
teri
at!
. op
timis
ing
inve
stm
ent
retu
rns.
m
arke
t.
. In
dica
te w
ho t
he p
artic
ipan
ts in
the
mo
ne
y m
arke
t ar
e an
d ex
plai
n h
ow
inte
ract
ion
betw
een
part
icip
ants
cre
ates
act
ivity
in
the
mo
ne
m
arke
t. E
xpla
in t
he c
once
pts
rega
rdin
g tr
adin
g, r
ecor
d ke
epin
g, c
lear
ing
of
cert
ain
mon
ey m
arke
t in
stru
men
ts.
inst
rum
ents
. Di
S.CU
SS t
he e
ssen
tial f
eatu
res
and
purp
oses
of t
he m
oney
r--.---~----------------------J
33
Pro
vide
adv
ice
and
inte
rmed
iary
ser
vice
s to
cl
ient
s w
ith r
espe
ct t
he
mon
ey m
ark
et i
nstr
umen
ts.
Des
crib
e M
on
ey
Mar
ket
Mat
hem
atic
s an
d h
ow
it s
houl
d be
ap
plie
d.
Diff
eren
tiate
the
quo
tatio
n of
yie
lds
-N
AC
A,
NA
CO
etc
.
. C
alcu
late
the
tim
e va
lue
of
mon
ey a
s ap
plic
able
to
mo
ne
y m
ark
et
inst
rum
ents
Cal
cula
te th
e te
nder
pri
ce f
or
a T
rea
sury
Bill
. ----------------------~
yiel
d on
a d
isco
unt
inst
rum
ent.
Cal
cula
te th
e m
atur
ity v
alue
, co
nsid
erat
ion,
pric
e, y
ield
etc
of
an
__
__
__
__
__
__
__
__
__
__
__
__
__
__
__
_-1I~interest a
dd-o
n se
curit
y.
Cal
cula
te t
he c
onsi
dera
tion,
dis
coun
t am
ount
, et
c. f
or
all
disc
ount
_
__
__
__
__
__
_·_
__
__
__
__
__
__
__
__
_--lI....:i~n=stn.Jm:.:::e:.:..n:.::ts:.:..--.,__--__:_:-------1
Cal
cula
te t
he y
ield
on
a d
isco
un
t in
stru
men
t if
the
disc
ount
rat
e is
kn
own.
C
alcu
late
the
dis
cou
nt
rate
on
a di
scou
nt in
stru
men
t if
the
yiel
d is
the
mat
urity
val
ue o
f an
in
tere
st a
dd-o
n se
curit
y.
Cal
cula
te t
he c
onsi
dera
tion,
pric
e,
yiel
d, e
tc o
f an
inte
rest
add
-on
secu
rity
if it
is t
rade
d be
fore
mat
urity
.
(,()
.;:
. z 9 w .... 0\ .... .;:.
G) o < m
II
z s: m
z -l
G) ~ m
:j
m
0\ o () d (J
J m
II
!\) o o 00
Ta
sk
Kn
ow
led
ge
Cri
teri
a S
ove
reig
n-i
nte
rest
be
ari
ng
se
curi
ties
to c
lient
s w
ith
I Exp
lain
the
pur
pose
and
cha
ract
eris
tics
of a
Tre
asur
y bill
. re
spec
t to
tre
asur
y bi
lls.
I !
Dis
cuss
the
iss
uing
pro
cedu
res
(ten
derin
g sy
stem
) fo
r T
reas
ury
Bill
s in
the
prim
ary
mar
ket.
~ I Exp
lain
how
Tre
asur
y B
ills
are
trad
ed in
the
sec
onda
ry m
arke
t. I IE
xpla
in h
ow r
edem
ptio
n ta
kes
plac
e.
I _
__
__
__
__
_~!_
Ski
ll C
rite
ria
II O
ffer
inve
sim
ent
advi
ce o
n tr
easu
ry
bills
with
a v
iew
to o
ptim
isin
g in
vest
men
t re
turn
s.
IApp
ly t
he p
rinci
ples
of T
reas
ury
Bill
s.
ri I
fa d
ebe
nt
r O
ff ta
d'
RB
Ds
with
~ •
u~~
I i
Dis
tingu
ish
betw
een
SA
RB
deb
entu
res
and
othe
r de
bent
ures
. I
retu
rns.
reX
Pla
in t
he is
suin
g pr
oced
ures
(te
nder
ing
syst
em)
for
RB
Ds
in
the
prim
ary
mar
ket.
I
Ba
nke
rs' A
cce
pta
nce
s
36
! [Dis
cuss
the
seco
ndar
y m
arke
t of
RB
Ds
and
the
reas
on t
radi
ng
in t
he s
econ
dary
mar
ket
is l
imite
d.
Be
able
to d
o th
e ba
sic
RB
D's
issu
e an
d de
alin
g m
athe
mat
ics
and
appl
y its
prin
cipl
es i
n a
case
stu
dy.
Exp
lain
how
red
empt
ion
take
s pl
ace.
Pro
vide
adv
ice
to c
lient
s w
ith
inve
stm
ent
advi
ce o
n B
A's
with
re
spec
t to
Bas
. a
view
to o
ptim
isin
g in
vest
men
t re
turn
s.
Exp
lain
the
purp
ose
and
char
acte
ristic
s of
a B
A.
Do
basi
c B
A c
alcu
latio
ns.
Exp
lain
the
iss
uing
pro
cedu
res
for
BA
s in
the
prim
ary
mar
ket.
I A
pply
the
deal
ing
mat
hem
atic
s an
d Ic
alcu
latio
ns r
elev
ant
to T
reas
ury
Bill
s
Incl
ude
trea
sury
bill
s an
d S
AR
B
I deb
entu
res
here
~ ~ ~ /\ o m
JJ » z --I
.....
(J1 o ~
OJ
m
:n
I\
) o o co z o Q
(J1 - ... II)
(J1
Ta
sk
advi
ce to
clie
nts
with
I
resp
ect
to N
CD
s.
I
65
Kn
ow
led
ge
Cri
teri
a
Exp
lain
how
BA
s ar
e tr
aded
in t
he s
econ
dary
mar
ket.
Ne
go
tia
ble
Ce
rtif
ica
tes
of
De
po
sit
.rDef
ine
and
expl
ain
the
purp
ose
and
char
acte
ristic
s of
a N
CO
.
retu
rns
Be
able
to d
o ba
sic
NC
O c
alcu
latio
ns a
nd a
pply
its
prin
cipl
es in
.
a ca
se s
tudy
.
Ski
ll C
rite
ria
I Off
er in
vest
men
t ad
vice
on
NC
Ds
with
I
a vi
ew t
o op
timis
ing
inve
stm
ent
Re
pu
rch
ase
Ag
ree
me
nts
38
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect t
o re
pos.
D
efin
e an
d ex
plai
n th
e pu
rpos
e an
d ch
arac
teris
tics
of a
rep
o.
-----~.
carr
ies.
Com
pare
the
diffe
renc
es b
etw
een
repo
s
Off
er in
vest
men
t ad
vice
on
repo
s w
ith
a vi
ew to
opt
imis
ing
inve
stm
ent
retu
rns.
, N
am
e a
nd e
xpla
in t
he ty
pes
of r
epos
use
d in
Sou
th A
fric
a.
IEX
Pla
in t
he u
ses
of r
epos
. O
the
r M
on
ey
Ma
rke
t In
stru
me
nts
39~r-Provide a
dvic
e to
clie
nts
with
re
spec
t to
lan
d ba
nk b
ills
in
the
mo
ne
y m
arke
t.
! D
escr
ibe
the
inst
rum
ents
use
d by
cor
pora
te,
para
stat
al a
nd c
ivic
is
suer
s in
SA
and
ut
ilisa
tion
in a
por
tfolio
.
40
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to c
omm
erci
al p
aper
in
the
mon
ey m
arke
t.
i
Des
crib
e th
e ra
ting
requ
irem
ents
and
the
rol
e of
the
ratin
g ag
enci
es.
Def
ine
and
expl
ain
the
purp
ose
and
char
acte
ristic
s of
oth
er
com
mer
cial
pap
er.
Off
er
inve
stm
ent a
dvic
e on
co
mm
erci
al p
aper
with
a v
iew
to
optim
iSin
g in
vest
men
t re
turn
s.
Vl
......
01
...... t
--
-
<D
01 z !=l w
01 .,.. G) o <
m :n z s: m
z -I
G) ~ ~ m
01 § o OJ
m :n I\) o o OJ
1 G'l
o cp -' o ~
Co)
42
44
Co)
-'
()1 -' !
to c
lient
s w
ith
to c
omm
erci
al p
aper
an
d se
curi
tisat
ion
in t
he
mon
ey m
arke
t.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect t
o se
curi
tisat
ion
sche
mes
in
the
mo
ne
y m
arke
t.
Pro
vide
re
spec
t to
pro
mis
sory
not
es,
capi
tal
proj
ect
bills
, b
rid
gin
bo
nds,
(T
rans
net)
cou
pon
stoc
ks a
nd c
all
bond
s.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to f
orw
ard
rate
ag
reem
ents
in t
he m
on
ey
mar
ket
66
Kn
ow
led
ge
Cri
teri
a
Def
ine
and
expl
ain
the
purp
ose
and
char
acte
ristic
s of
ass
et
back
ed c
omm
erci
al p
aper
.
Def
ine
and
expl
ain
secu
ritiz
atio
n sc
hem
es a
nd i
nstr
umen
ts.
Def
ine
and
expl
ain
prom
isso
ry n
otes
, ca
pita
l pr
ojec
t bi
lls,
brid
ging
bon
ds,
(Tra
ns n
et}
coup
on s
tock
s an
d ca
ll bo
nds.
Mo
ne
y M
ark
et
De
riva
tive
s
Def
ine
and
expl
ain
the
purp
ose
and
char
acte
ristic
s of
For
war
d
Rat
e A
gree
men
ts (
FR
As)
.
Kno
w h
ow to
cal
cula
te t
he F
RA
set
tlem
ent
amou
nt a
nd t
he c
ost
of t
he o
riain
al l
oan.
Ski
ll C
rite
ria
O
ffer
inv
estm
ent
advi
ce o
n se
curit
izat
ion
with
a v
iew
to o
ptim
isin
g in
vest
men
t re
turn
s
Off
er in
vest
men
t adv
ice
on
secu
ritiz
atio
n sc
hem
es w
ith a
vie
w to
op
timis
ing
inve
stm
ent
retu
rns.
To
pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to p
rom
isso
ry n
otes
, ca
pita
l pr
ojec
t bi
lls,
brid
ging
bon
ds,
(Tra
nsne
t) c
oupo
n st
ocks
and
cal
l bo
nds.
Off
er in
vest
men
t ad
vice
on
FR
As
with
a
view
to o
ptim
isin
g in
vest
men
t re
turn
s.
~ ~ (/) 6 m
JJ ~ .:-l
()1 o ~ o III m
JJ
t\) o o co z o (...) .....
()1
-'
.I> ~
()7
~ No,
I
Ta
sk
\_
.
Kn
ow
led
ge
Cri
teri
a S
kill
Cri
teri
a I
-Kno
w a
nd u
nd
ers
tan
d t
he m
echa
nics
of t
radi
ng F
RA
s, t
he u
ses
I~~
of
FR
A's
and
quo
hng
of
two-
way
pric
es,
45
Pro
vide
adv
ice
to c
lient
s w
ith
I Def
ine
and
expl
ain
the
purp
ose
and
char
acte
ristic
s o
f In
tere
st
Off
er in
vest
men
t ad
vice
on
IRS
s w
ith
I I r
espe
ct to
int
eres
t ra
te s
wa
ps
I R
ate
Sw
aps
(IR
S).
.
a vi
ew
to o
ptim
isin
g in
vest
me
nt
I ' in
the
mo
ne
y m
arke
t.
I 1
retu
rns.
I [D
iSC
US
S t
he u
ses
of
IRS
. ..-~
I lB
e a
ble
to a
pply
IR
S p
rinc
iple
s an
d do
the
requ
isite
ca
lcu
lah
on
,:
jDe
lln
e a
nd e
xpla
in t
he p
urpo
se a
nd c
hara
cler
lshc
s o
f R
and
Ove
rnig
ht D
epos
it S
wa
ps
(RO
DS
).
Dis
cuss
the
use
s o
f R
OD
S.
t B
e ab
le to
app
ly R
OD
S p
rinci
ples
and
do
the
requ
isite
ca
lcul
atio
ns.
DiS
Cu
ss th
e pr
icin
g o
f S
hort
-ter
m i
nter
est r
ate
deriv
ativ
es,
and
do
the
requ
isite
cal
cula
tions
. 46
P
rovi
de a
dvic
e to
clie
nts
with
D
efin
e an
d ex
plai
n th
e pu
rpos
e an
d ch
arac
teris
tics
of I
nter
est
Off
er in
vest
men
t ad
vice
on
inte
rest
re
spec
t to
Inte
rest
Rat
e R
ate
Cap
s, F
loor
s an
d C
olla
rs.
rate
opt
ions
with
a v
iew
to o
ptim
isin
g op
tions
. in
vest
men
t re
turn
s.
Dis
cuss
the
use
s o
f C
aps
and
Flo
ors.
In
dica
te w
ho t
he c
ount
erpa
rtie
s ar
e an
d ho
w r
isk
is t
rans
ferr
ed.
I· D
iscu
ss t
he r
ever
sibi
lity
and
trad
abili
ty o
f C
aps
and
Flo
ors.
Be
able
to d
istin
guis
h be
twee
n C
aps
and
Flo
ors
as o
ppos
ed t
o In
tere
st R
ate
Sw
aps.
Dis
cuss
the
use
s o
f C
olla
rs.
I I
Be
able
to
appl
y th
e pr
inci
ples
of
Col
lars
an
d do
the
req
uisi
te
calc
ulat
ions
. ~
\0
CD z p w .... U1 .... "" G'l o <
m
II
z s: m
z -i
G> ~ m
~ Jl1
U1 o ~ o OJ
m
II
I\) 8 Ol
47
48
49
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he
Yie
ld-X
Iexc
hang
e.
50
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to
Bon
d E
xcha
nge
SA
list
s in
tere
st r
ate
deriv
ativ
es.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he B
ond
Mar
ket
conv
entio
ns.
68
Dis
cuss
the
and
expl
ain
the
purp
ose
and
char
acte
ristic
s of
inte
rest
fu
ture
s.
may
be
hedg
ed w
ith i
nter
est r
ate
futu
res
Dis
cuss
the
eff
ect
of t
he i
nver
se p
rice-
inte
rest
rat
e re
latio
nshi
p on
the
val
ue o
f a
futU
res
posi
tion,
be
able
to a
pply
the
prin
cipl
es
in a
cas
e st
udy
and
do t
he r
equi
site
cal
cula
tions
.
Def
ine
the
Yie
ld-X
exc
hang
e, i
ts p
urpo
se a
nd f
eatu
res.
conv
entio
ns a
pplic
able
to
Indi
cate
tha
t th
e B
ond
Exc
hang
e S
A li
sts
inte
rest
rat
e de
rivat
ives
.
Ski
ll C
rite
ria
Offe
r in
vest
men
t ad
vice
on
inte
rest
ra
te f
utur
es w
ith a
vie
w t
o in
vest
men
t ret
urns
.
Offer
inve
stm
ent
advi
ce w
ith r
espe
ct
to Y
ield
s-X
trad
ed i
nstr
umen
ts w
ith a
vi
ew
to o
ptim
iSin
g in
vest
men
t re
turn
s.
Off
er in
vest
men
t ad
vice
with
res
pect
to
int
eres
t ra
te d
eriv
ativ
es t
rade
d on
_
__
_~____________
-------:-:------:-:---:-:--:----1
B
ES
A w
ith a
vie
w to
opt
imis
ing
sett
lem
ent c
onve
ntio
ns a
pplic
able
to
inve
stm
ent r
etur
ns.
BE
SA
.
Bo
nd
s In
dica
te h
ow
the
bond
mar
ket f
its i
nto
the
finan
cial
sys
tem
.
Indi
cate
who
the
rol
e-pl
ayer
s in
the
sec
onda
ry b
ond
mar
ket
are.
Sta
le th
e el
emen
ts
I Off
er a
dvic
e on
bon
d m
arke
t co
nven
tions
with
a v
iew
to
optim
isin
g in
vest
men
t re
turn
s.
~ ~ (J) i'\ o m
JJ » z ;-l
(J1 o ~ o OJ
m
JJ
I\) 8 Ol z o tv
(J1 .... "" U)
10
.... g 6
t)
z ~ w
.....
U1
Ta
sk
~..
52
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he i
ssui
ng o
f bo
nds
in t
he B
ond
Mar
ket
1
53
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he i
nstr
umen
ts in
th
e B
ond
Mar
ket.
-
54
Pro
vide
adv
ice
and
inte
rmed
iary
ser
vice
s to
cl
ient
s w
ith r
espe
ct to
in
vest
ing
in t
he B
ond.
Mar
ket.
.j:> (j) o < m
lJ
Z s: m
z -l
Gl ~ 9
J11
.... U1 o ~ o co m
lJ
I\
l g CD
Dis
cuss
bor
row
ers
Dis
cuss
the
rea
sons
for
issu
ing
bond
s as
opp
osed
to
othe
r sh
ort-
term
sec
uriti
es.
I In
dica
te t
he c
ateg
orie
s of
bon
d is
suer
s an
d un
ders
tand
the
fact
ors
that
ma
y in
fluen
ce t
heir
issu
ing
activ
ities
,
Exp
lain
the
rel
atio
nshi
p be
twee
n go
vern
men
t de
bt a
nd f
isca
l po
licy.
Des
crib
e th
e in
stru
men
ts o
f th
e bo
nd m
arke
t.
Dis
tingu
ish
betw
een
the
mai
n ch
arac
teris
tics
of th
e di
ffere
nt
type
s of
bon
ds f
ound
in
the
Sou
th A
fric
an a
nd i
nter
natio
nal
bond
m
arke
ts a
nd b
e ab
le to
dis
tingu
ish
betw
een
them
.
Des
crib
e th
e in
vest
ors
in b
onds
(de
man
d fo
r bo
nds)
.
Exp
lain
the
mai
n in
vest
ors
in G
over
nmen
t an
d ot
her
bond
s.
Dis
cuss
the
mot
ivat
ion
for
the
diff
eren
t sec
tors
and
ins
titut
iona
l an
d ot
her
inve
stor
s to
hol
d bo
nds.
Off
er in
vest
men
t ad
vice
on
the
issu
ing
of b
ond
with
a v
iew
to
optim
isin
g in
vest
men
t ret
urns
Off
er a
dvic
e on
the
diff
eren
t typ
es o
f bo
nd m
arke
t in
stru
men
ts w
ith a
vie
w
to o
ptim
isin
g in
vest
men
t re
turn
s.
Offe
r in
vest
men
t ad
vice
on
the
risks
an
d st
ruct
ure
of t
he b
ond
mar
ket.
55
Pro
vide
adv
ice
and
,Exp
lain
the
risk
s fa
ced
in h
oldi
ng b
onds
incl
udin
g m
arke
t ris
k,
inte
rmed
iary
ser
vice
s to
cr
edit
risk
call
risk,
rei
nves
tmen
t ris
k, l
iqui
dity
ris
k, v
olat
ility
ris
k cl
ient
s w
ith r
espe
ct t
o r
isks
ex
chan
ge r
ate
risk,
inc
iden
t ris
k an
d in
flatio
n ris
k.
face
d by
inve
stor
s in
the
Bo
nd M
arke
t.
No.
56
58
70
Kn
ow
led
ge
Cri
teri
a
Pro
vide
adv
ice
to c
lient
s w
ith
Ta
sk
Exp
lain
the
ris
ks a
nd a
dvan
tage
s o
f in
vest
ing
in t
he f
orei
gn b
ond
resp
ect
to i
nves
ting
in t
he
mar
ket.
For
eign
Bon
d M
arke
t.
I _
__
__
__
__
+r:O
-:-iS
-C-U
-ss-.t
h-e-
r-o-:-
le-of:
-ratT
ng a
genc
ies.
Pro
vide
adv
ice
to c
lient
s w
ith
iOiS
CU
SS
the
Bon
d E
xcha
nge
of S
outh
Afr
ica.
re
spec
t to
the
rol
e of
BE
SA
in
the
bond
mar
ket.
.ExP
lain
the
ris
ks f
aced
by
mar
ke ...t p
artic
ipan
ts in
an
OT
C m
arke
t an
d ho
w t
hese
ris
ks a
re o
verc
ome
by
trad
ing
on a
n ex
chan
ge.
Dis
cuss
the
met
hods
of
issu
e. t
he v
ario
us p
artic
ioan
ts a
nd '
he
role
s th
ey p
lay
in t
he p
rimar
y bo
nd m
arke
t.
Exp
lain
the
bas
ic s
truc
ture
of -
SE
SA
& Y
ield
-X a
nd h
ow
trad
es
are
proc
esse
d.
Dis
cuss
the
im
port
ance
of
the
seco
ndar
y bo
nd m
arke
t, th
e I p
artic
ipan
ts a
nd t
he r
oles
the
y pl
ay in
the
mar
ket,
the
orga
nisa
tion
and
stru
ctur
e an
d fu
nctio
ns o
f the
sec
onda
ry b
ond
Ima
rke
t.
Pro
vide
adv
ice
to c
lient
s w
ith
I
mat
hem
atic
s.
mon
ey.
Def
ine
futu
re v
alue
from
pre
sent
val
ue a
nd v
ice
vers
a.
espe
ct to
the
tim
e v
alue
of
I
Cal
cula
te f
utur
e va
lue
from
pre
sent
va
lue
and
vice
ver
sa.
Ski
ll C
rite
ria
~ I I
Off
er
inve
stm
ent
advi
ce o
n th
e rol
e-Of~
BE
SA
in t
he b
ond
mar
ket
with
a v
iew
to
opt
imis
ing
inve
stm
ent
retu
rns.
Per
form
the
bon
d m
arke
t
Exp
lain
how
the
ann
uity
form
ula
appl
ies
to b
onds
.
Def
ine
fixed
cou
pon
rate
bon
ds.
. re
spec
t to
the
val
uatio
n o
f P
rovi
de a
dvic
e to
clie
nts
with
~.--
I Be
able
to c
alcu
late
the
pric
e (v
alue
) of
a b
ond
with
a fi
xed
coup
on r
ate
and
a fix
ed t
erm
to
mat
urity
. I b
onds
.
Exp
lain
the
conc
epts
of
cum
int
eres
t an
d ex
inte
rest
. (a
dd t
he
~arr
!e u
nder
egu
ities
-cu
m d
ivid
ends
and
ex
divi
dend
s}.
Be
able
to a
pp
ly th
e st
anda
rd p
rice
form
ula
for
bond
s w
ith 6
m
onth
s or
long
er to
mat
urity
and
for
bon
ds w
ith l
ess
than
6
mon
ths
to m
atur
ity.
Per
form
bas
ic ti
me
valu
e of
mon
ey
calc
ulat
ions
.
Per
form
bon
d pr
icin
g ca
lcul
atio
ns a
nd
sens
itivi
ty c
alcu
latio
ns .
~ ~ fJ) 6 m
JJ ~ _-1
...L
01 a q a OJ m
JJ
I\) o o co z o w
.... 01
.....
.j>. .....
o .....
--
---
No.
T
ask
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect t
o th
e yi
eld
curv
e,
60
ExP
lain
the
diff
eren
t us
es O
fthe
yreT
d cur
ve.
Def
ine
the
par
yiel
d cu
rve
and
the
zero
-cou
pon
yiel
d cu
rve
and
disc
uss
thei
r us
es.
Des
crib
e th
e di
ffer
ent
shap
es o
f the
yie
ld c
urve
, w
hat
it re
pres
ents
in t
erm
s of
sho
rt-t
erm
and
lon
g-te
rm i
nter
est
rate
s an
d ex
pect
atio
ns w
ith r
egar
d to
sho
rt-t
erm
int
eres
ts r
ates
(m
onet
ary
polic
y).
Exp
lain
and
be
able
to
cal
cula
te im
plie
d fo
rwar
d ra
tes
from
the
yi
eld
curv
e,
Look
at
wha
t w
as d
evel
oped
for
equ
ity d
eriv
ativ
es -
and
incl
ude
cred
it de
rivat
ives
.
Der
ivat
ives
----,-
-
Def
ine
and
disc
uss
the
feat
ures
and
pur
pose
of
a de
rivat
ive
resp
ect
to d
eriv
ativ
e m
arke
t 61
P
rovi
de a
dvic
e to
clie
nts
with
co
ntra
ct a
nd e
xpla
in h
ow th
e sp
ot m
arke
ts r
elat
e to
der
ivat
ive
inst
rum
ents
. m
arke
ts.
71
Kn
ow
led
ge
Cri
teri
a D
efin
e an
d be
ab
le to
app
ly th
e fo
llow
ing
bond
cal
cula
ting
form
ulae
to t
he fo
llow
ing
inst
rum
ents
: pe
rpet
ual
bond
s, b
onds
w
ith a
var
iabl
e ra
te,
infla
tion
linke
d (C
PI)
bond
s, z
ero
coup
on
bond
s an
d st
rips.
Exp
lain
and
be
able
to
app
ly o
ther
yie
ld m
easu
res.
Exp
lain
and
be
able
to
appl
y bo
nd m
ark
et c
once
pt li
ke d
urat
ion,
M
acau
ley
dura
tion,
mod
ified
dur
atio
n an
d co
nvex
ity.
Kno
w w
hat
the
bond
rat
e tim
e se
ries
is a
nd t
erm
str
uctu
re o
f in
tere
st r
ates
.
Def
ine
the
yiel
d cu
rve
and
indi
cate
how
it is
der
ived
.
Ski
ll C
rite
ria
I
Per
form
and
int
erpr
et y
ield
cur
ve
anal
ysis
.
Off
era
dvi
ce o
n de
rivat
ive
mar
ket
conv
entio
ns w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
retu
rns.
.....
o I\l z o w .... (J1
.j>. Gl o <
m
JJ z :;:::
m
z -!
Gl ~ 9
Jl1
(J
1 o ~
OJ
m
JJ
N o o 00
---
62
63
64
66
Ski
ll C
rite
ria
Pro
vide
ad
vice
to c
lient
s w
ith
Def
ine
and
disc
uss
the
feat
ures
of
the
spot
mar
ket
and
the
I Offe
r ad
vice
on
spot
ma
rke
t re
spec
t to
the
spot
mar
ket.
sett
lem
ent
conv
entio
ns in
the
sec
uriti
es m
arke
ts.
sett
lem
ent
conv
entio
ns w
ith a
vie
w to
op
timis
ina
inve
stm
ent
retu
rns.
ad
vice
to C
Tien
ts w
ith
!De
fin
e a
nd e
xpla
in t
he f
eatu
res
and
purp
ose
of a
for
war
d re
spec
t to
for
war
d co
ntra
cts
Pro
vide
ad
vice
to c
lient
s I,.
-lith
resp
ect
to f
orw
ard
inte
rest
ra
te c
ontr
acts
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to r
epur
chas
e ag
reem
ents
.
Pro
vide
ad
vice
and
in
term
edia
ry s
ervi
ces
to
clie
nts
with
res
pect
to
forv
.ard
co
ntra
cts
in t
he e
quity
m
arke
t.
Pro
vide
ad
vice
to c
lient
s re
spec
t to
for
war
d co
ntra
cts
in t
he f
orei
gn e
xcha
nge
mar
ket.
l__<::o
ntra
ct.
__
_
I B
e ab
le to
ap
ply
pr
inci
ples
a
cont
ract
I
requ
isite
cal
cula
tions
.
Com
pare
the
adv
anta
ges
of f
orw
ard
mar
kets
with
tho
se o
f
~futures
mar
kets
.
Def
ine
the
defin
ition
, fe
atur
es a
nd p
urpo
se o
f a
forw
ard
inte
rest
ra
te c
ontr
act
and
be a
ble
to a
nd d
o th
e re
quis
ite c
alcu
latio
ns.
Offe
r in
vest
men
t ad
vice
on
forw
ard
inte
rest
rat
e co
ntra
cts
with
a v
iew
to
optim
isin
g in
vest
men
t re
turn
s.
Def
ine
the
feat
ures
and
pur
pose
of
a re
purc
hase
ag
ree
me
nt
(rep
o) a
nd b
e ab
le t
o a
pp
ly th
e pr
inci
ples
of
a re
po a
nd d
o th
e re
quis
ite c
alcu
latio
ns.
Off
er in
vest
men
t ad
vice
on
repu
rcha
se a
gree
men
ts w
ith a
vie
w to
in
vest
men
t re
turn
s.
Offe
r in
vest
men
t ad
vice
on
forw
ard
cont
ract
s w
ith a
vie
w to
opt
im is
ing
inve
stm
ent
retu
rns.
Exp
lain
the
mot
ivat
ion
for
usin
g re
pos,
the
ins
titut
ions
invo
lved
in
thi
s m
arke
t an
d th
e d
iffe
ren
t typ
es o
f re
pos.
Def
ine
and
disc
uss
the
feat
ures
and
pur
pose
of
a fo
rv.a
rd i
n th
e eq
uity
ma
rke
t an
d be
abl
e to
app
ly th
e pr
inci
ples
of a
forv
.ard
an
d do
the
req
uisi
te c
alcu
latio
ns.
Offe
r in
vest
men
t ad
vice
on
forw
ard
cont
ract
s in
the
eq
uity
ma
rke
t w
ith a
vi
ew
to o
ptim
isin
g in
vest
me
nt r
etur
ns.
Off
er i
nves
tmen
t ad
vice
on
forw
ard
Def
ine
the
feat
ures
and
pur
pose
of f
orw
ards
in t
he f
orei
gn
cont
ract
s in
the
for
eign
exc
hang
e ex
chan
ge m
ark
et
and
be a
ble
to a
pp
ly th
e pr
inci
ples
of
a m
ark
et w
ith a
vie
w to
opt
imis
ing
forw
ard
and
do t
he r
equi
site
cal
cula
tions
. _
__
__
__
__
__
__
-lL
inve
stm
en
!
~ ~ ~ (f
) A o rn II ~ .:-
I
U1 o ~
OJ
rn II
rv
o o (Xl z o (;) ~
-I> .... S
67
--
01 ~ z
73
o U)
...J
,
~
I N
o.
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Def
ine
and
be a
ble
to d
istin
guis
h be
twee
n ou
trig
ht fo
rwar
ds,
fore
ign
exch
ange
sw
aps,
for
war
d-fo
rwar
ds a
nd t
ime
optio
ns.
[-EX
Pla
in t
he m
otiv
atio
ns f
or u
sing
the
for
war
d fo
reig
n ex
chan
ge
mar
ket.
'68
--P
rovi
de a
dvic
e to
clie
nts Wit
h~! D
efin
e an
d di
scus
s th
e fe
atur
es a
nd p
urpo
se o
f for
war
ds in
the
Ski
ll C
rite
ria
1 O
ffer
inve
stm
ent
advi
ce o
n fo
rwar
d I
cont
ract
s in
the
com
mod
ities
mar
ket
resp
ect
to f
orw
ard
cont
ract
s I:
om
mo
dlu
es
mar
ket
and
be a
ble
to a
pply
the
prin
cipl
es o
f a
I in
the
com
mod
ities
mar
ket.
forw
ard
and
do t
he r
equi
site
cal
cula
tions
. w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
I re
turn
s.
I Exp
lain
the
prin
cipl
es o
f he
dgin
g by
mea
ns o
f fo
rwar
d I
j in
stru
men
ts
Fu
ture
s --c--
-69
P
rovi
de a
dvic
e to
clie
nts
with
re
spec
t to
fut
ures
mar
ket
-
70
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he p
rici
ng o
f in
tere
st r
ate
futu
res.
71
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to t
he p
ricin
g of
in
divi
dual
bon
d fu
ture
s.
Def
ine
and
disc
uss
the
feat
ures
and
pur
pose
of f
utur
es a
nd d
o
the
requ
isite
cal
cula
tions
. (e
.g.
com
mod
ities
mar
ket)
Exp
lain
how
a fu
ture
s pr
ice
rela
tes
to t
he s
pot
pric
e.
Exp
lain
how
the
futu
res
mar
ket
is o
rgan
ised
, ho
w c
lear
ing
take
s pl
ace,
the
con
cept
s of
mar
gini
ng a
nd m
arki
ng to
mar
ket,
open
in
tere
st a
nd h
ow s
ettle
men
t ta
kes
plac
e.
Exp
lain
how
the
pric
ing
of f
utur
es t
akes
pla
ce,
be a
ble
to a
pply
th
e pr
inci
ples
an
d do
the
requ
isite
cal
cula
tions
.
Exp
lain
how
the
pric
ing
of in
tere
st r
ate
futu
res
take
s pl
ace,
be
able
to
appl
y th
e pr
inci
ples
an
d d
o th
e re
quis
ite c
alcu
latio
ns.
, E
xpla
in h
ow th
e pr
icin
g of
indi
vidu
al b
ond
futu
res
take
s pl
ace,
I
be a
ble
to a
pply
the
prin
cipl
es
and
do t
he r
equi
site
cal
cula
tions
.
Off
er in
vest
men
t ad
vice
on
futu
res
with
a v
iew
to o
ptim
isin
g in
vest
men
t re
turn
s.
o o < m
::n z s: m
z -I o ~ m ~
01
o ~
OJ m
::n I\) o o Q)
Ap
ply
the
prin
cipl
es o
f fut
ures
co
ntra
cts
in t
he a
gric
ultu
ral
mar
ket.
Ap
ply
the
prin
cipl
es o
f in
divi
dual
bon
d fu
ture
s in
the
agr
icul
tura
l mar
ket.
-T
Ta
sk
Kn
ow
led
ge
Cri
teri
a
Ski
ll C
rite
ria
72
ipro
vid
e a
dvic
e an
d E
xpla
in h
ow th
e pr
icin
g o
f ind
ivid
ual e
quity
futu
res
take
s pl
ace,
A
pply
the
prin
cipl
es o
f for
war
d !
inte
rmed
iary
ser
vice
s to
be
abl
e to
app
ly th
e pr
inci
ples
and
do
the
requ
isite
cal
cula
tions
. co
ntra
cts
in t
he f
orei
gn e
xcha
nge
clie
nts
with
res
pect
to t
he
mar
ket.
pric
ing
of in
divi
dual
equ
ity
I I fut
ures
.
731'P
rovi
de a
dvic
e to
clie
nts
with
E
xpla
in h
ow th
e pr
icin
g of
com
mod
ity fu
ture
s ta
kes
plac
e.
App
ly th
e pr
inci
ples
of
the
pric
ing
of
resp
ect t
o th
e pr
icin
g o
f co
mm
odity
futu
res
mar
ket.
indi
vidu
al c
omm
odity
futu
res.
,
App
ly th
e pr
inci
ples
of
pric
ing
of
com
mod
ity fu
ture
s.
Do
the
requ
isite
cal
cula
tions
.
App
ly th
e .i
nr-
,nl"
",
of
basi
s an
d ne
t ca
rry
cost
s.
74
75
App
ly th
e pr
inC
iple
s o
f hed
aina
in t
he
agric
ultu
ral
mar
ket.
I Pro
vide
adv
ice
and
Exp
lain
the
prin
cipl
e of
bas
is a
nd n
et c
arry
cos
ts.
inte
rmed
iary
ser
vice
s to
cl
ient
s w
ith r
espe
ct to
bas
is
and
net c
arry
cos
t.
Pro
vide
adv
ice
and
how
to h
edge
with
fut
ures
and
be
able
to
appl
y th
e in
term
edia
ry s
ervi
ces
to
prin
cipl
e o
f hed
ging
to c
ase
stud
ies
and
be a
ble
to d
o th
e cl
ient
s w
ith r
espe
ct t
o re
quis
ite c
alcu
latio
ns,
part
icul
ar h
edgi
ng w
ith a
inte
rest
rat
e h
ori
nin
n in
the
fut
ures
mar
ket.
futu
re (
US
OR
), a
sha
re in
dex
futu
re,
and
a cu
rren
cy fu
ture
.
Ul ~
::...
t U
l A
o m
JJ ~ --
I ->
(]
1 o ~ o III m
JJ
N o o (Xl
Sw
ap
s
76
Pro
vide
adv
ice
to c
lient
s w
ith
Def
ine
and
disc
uss
the
feat
ures
and
pur
pose
of
inte
rest
rat
e O
ffer I
nves
tmen
t adv
ice
on i
nter
est
resp
ect
to i
nter
est
rate
sw
aps.
ra
te s
wap
s w
ith a
vie
w to
opt
imis
ing
swap
s.
inve
stm
ent
retu
rns.
App
ly th
e of
int
eres
t rat
e sw
aos
Do
the
requ
isite
cal
cula
tions
for
77
Pro
vide
adv
ice
to c
lient
s w
ith
-~--:-:---;-:-;::----:----:----::---:--------,,---.,------l
inte
rest
rat
e sw
aps.
I D
escr
ibe
the
diff
eren
t ver
sion
s o
f eq
uity
sw
aps
that
exi
st.
Off
er in
vest
men
t adv
ice
on e
quity
re
spec
t to
equ
ity s
wap
s.
swap
s.
z ~
(.U .... (]
1 .... ~ ...... !i1
--
.... g z o75
U
l .... U1
.j:>
No
. T
as
k
Kn
ow
led
ge
Cri
teri
a S
kill
Cri
teri
a O
pti
on
s I
78
--P
rovi
de a
dvic
e to
clie
nts
with
D
efin
e an
d d
iscu
ss t
he f
eatu
res
of
optio
ns a
nd b
e ab
le t
o O
ffer
inve
stm
ent
advi
ce o
n op
tions
re
spec
t to
opt
ions
. di
stin
guis
h be
twee
n pu
t an
d ca
ll op
tions
. w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
retu
rns
i D
escr
ibe
the
diff
eren
t pa
yoff
pro
files
and
be
able
to i
nter
pret
the
gr
aphi
c re
pres
enta
tions
the
reof
incl
udin
g lo
ng c
all o
ptio
ns,
shor
t ca
ll op
tions
, lo
ng p
ut o
ptio
n an
d sh
ort
put
optio
n.
Des
crib
e th
e or
gani
satio
n o
f the
opt
ions
mar
kets
.
Exp
lain
the
ma
rgin
ing
and
set
tlem
ent
prin
cipl
es f
or l
iste
d op
tions
an
d O
Te
opt
ions
.
79
Pro
vide
adv
ice
to c
lient
s w
ith
Des
crib
e th
e t
wo
mai
n op
tion
pric
ing
I val
uatio
n m
odel
s na
mel
y
resp
ect t
o op
tion
pric
ing.
th
e B
lack
-Sch
oles
mod
el a
nd t
he B
imod
ial
mod
el a
nd b
e ab
le to
ap
ply
the
prin
cipl
es.
,
resp
ect t
o op
tions
in t
he
Pro
vide
adv
ice
to c
lient
s w
ith
Def
ine
and
dis
cuss
th
e fe
atur
es o
f opt
ions
on
swap
s an
d be
8
0
able
to a
pply
pri
ncip
les.
de
riva
tives
mar
ket.
Def
ine
and
dis
cuss
the
fea
ture
s of
opt
ions
on
de
bt m
ark
et
inst
rum
ents
inc
ludi
ng c
aps
and
floor
s an
d bo
nds
and
be a
ble
to
apJJ
ly !=
lrinc
iple
s.
Pro
vide
adv
ice
to c
lient
s w
ith
Des
crib
e th
e m
ech
an
ics
of
deal
ing
in b
ond
optio
ns.
resp
ect
to o
ptio
ns i
n th
e bo
nd
mar
ket.
81
---
1--
-E
xpla
in o
ptio
ns o
n bo
nd in
dice
s, b
ond
war
rant
s (c
all
optio
ns a
nd
reta
il op
tions
.),
bo
nd
s w
ith e
mbe
dded
opt
ions
and
con
vert
ible
I b
onds
.
G) o < m
II
z s: m
z -I
G) ~ =1 m
U1 o ~ o ID
m
II
I\) a a OJ
---
76
Tas
k.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to o
ptio
ns in
the
fo
reig
n ex
chan
ge a
nd
com
mod
ities
mar
kets
.
Pro
vide
adv
ice
to c
lient
s w
ith
resp
ect
to o
ptio
n st
rate
gies
.
with
Der
ivat
ive
Inst
rum
ents
: P
rovi
de a
dvi
ce to
clie
nts
with
re
spec
t to
cre
dit
and
wea
ther
de
rivat
ives
.
Pro
vide
adv
ice
to c
lient
s re
spec
t to
car
bon
cred
it,
and
en
erg
y de
rivat
ives
.
Kn
ow
led
ge
Cri
teri
a ,
Def
ine
and
disc
uss
the
feat
ures
of
optio
ns o
n fo
reig
n ex
chan
ge
I and
com
mod
ities
.
Des
crib
e op
tion
stra
tegi
es a
nd b
e ab
le to
app
ly th
e an
d in
terp
ret
grap
hic
repr
esen
tatio
ns,
incl
udin
q bu
t no
t lim
ited
to
a st
rad
dle
and
str
angl
e.
Exp
lain
the
diff
eren
t ty
pes
of
exot
ic o
ptio
ns t
hat
exis
t in
the
m
arke
t. and
disc
uss
the
feat
ures
of
less
com
mon
der
ivat
ives
su
ch a
s cr
edit
deriv
ativ
es a
nd w
eath
er d
eriv
ativ
es.
Def
ine
and
disc
uss
carb
on c
redi
t, sh
ippi
ng a
nd e
nerg
y de
rivat
ives
.
Pro
vide
adv
ice
to c
lient
s w
ith
I Def
ine
de
lta h
edgi
ng.
resp
ect
to d
elta
hed
ging
.
Pro
vide
adv
ice
to
Exp
lain
wha
t a
delta
Ile
dge
is a
nd w
hat
it is
use
d fo
r.
Exp
lain
con
cept
s lik
e de
lta,
delta
var
iabl
e, d
elta
neu
tral
hed
ge
ratio
, in
-the
-mon
ev a
nd o
uH
he
-mo
ne
v.
Des
crib
e w
hat
is t
aken
int
o co
nsid
erat
ion
whe
n a
delta
hed
ge is
ca
lcul
ated
.
with
I
Sp
ecu
iaiio
na
nd
Pos
ition
-tak
ing.
Ski
ll C
rite
ria
Offe
r in
vest
men
t ad
vice
on
cred
it an
d w
eath
er d
eriv
ativ
e in
stru
men
ts w
ith a
vi
ew
to o
ptim
isin
g in
vest
men
t re
turn
s.
Offe
r in
vest
men
t adv
ice
on c
arbo
n cr
edit,
shi
ppin
g an
d e
ne
rgy
deriv
ativ
e w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
retu
rns.
Off
er in
vest
men
t ad
vice
on
delta
w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
retu
rns.
A
pply
the
prin
cipl
es o
f a
de
lta h
edge
.
Off
er in
vest
men
t ad
vice
on
No.
82
83
87
88
(J) ~
~ 6 m
:::0
~ .-1
01 o ~
II
I m
:::0
fI.) o o <Xl z o c..>
-"
01
-"
-I>
o ~ ""
77
NO=+
;·· T
ask
I K
no
wle
dg
e C
rite
ria
I re
spec
t to
spe
cula
tion
In t
he IEx
pla
in w
hat
a sp
ecul
ator
is a
nd w
hat
role
and
fun
ctio
n th
ey a
re
I mar
ket.
play
ing
on t
he f
utur
es e
xcha
nge.
I
I Dis
tingu
ish
betw
een
hedg
ing
and
spec
ulat
ing.
I
I Exp
lain
wha
t po
sitio
n ta
king
is a
nd w
hat
it is
use
d fo
r.
I j]
Pla
in w
hy p
asni
an t
akin
g ca
n be
bat
h sp
ecul
ativ
e an
d I
antic
ipat
ory
hedg
ing.
! 89
ICar
ryin
g of
Com
mod
ity:
I Exp
lain
how
fut
ures
can
be
used
to
defr
ay th
e co
st o
f ca
rryi
ng
Pos
ition
s P
rovi
de a
dvic
e to
.
an i
nven
tory
of
prod
ucts
. cl
ient
s w
ith r
espe
ct to
I
carr
ying
cos
ts.
I I 90
A
rbitr
age:
Pro
vide
adv
ice
to
I Des
crib
e w
hat
arbi
trag
e is
and
the
rol
e th
at it
pla
ys in
the
fut
ures
.
clie
nts
with
res
pect
to
. m
arke
t. ar
bitr
age
tran
sact
ions
.
91
-r· P
ricin
g: P
rovi
de a
dvic
e to
E
xpla
in h
ow p
rice
dete
rmin
atio
n ta
kes
plac
e on
the
fut
ures
cl
ient
s w
ith r
espe
ct t
o pr
icin
g m
arke
t an
d ho
w th
e ex
chan
ge s
erve
s as
a p
rice
disc
over
y in
the
mar
ket.
mec
hani
sm.
92
I F
orec
astin
g P
rice
To
prov
ide
advi
ce to
clie
nts
with
res
pect
to f
orec
astin
g pr
ice
. M
ovem
ents
. m
ovem
ents
by
mea
ns o
f fu
ndam
enta
l an
alys
is in
the
mar
ket.
.
93
Con
duct
a F
unda
men
tal
Fun
dam
enta
l an
alys
is.
anal
Ysi
s.
I E
xpla
in w
hat
fund
amen
tal
anal
ysis
is a
nd w
hat
belie
fs u
nder
lie
this
app
roac
h.
-
Dis
cuss
fun
dam
enta
l an
alys
is in
the
con
text
of
the
mar
kets
and
na
me
the
fact
ors
take
n in
to c
onsi
dera
tion
by a
fun
dam
enta
l an
alys
t for
a p
artic
ular
pric
e ou
tlook
.
Dis
cuss
the
obje
ctiv
es o
f fun
dam
enta
l an
alys
is,
the
diff
eren
t la
yers
invo
lved
inc
ludi
ng m
icro
econ
omic
and
the
m
acro
econ
omic
fact
ors
that
are
im
port
ant f
or fu
ndam
enta
l an
1'lJ
ysis
._
.
Ski
lllJr
lU":
IICI
spec
ulat
ion
and
posi
tion-
taki
ng w
ith a
I
view
to o
ptim
isin
g in
vest
men
t re
turn
s. I I I
Off
er in
vest
men
t adv
ice
on C
arry
ing
I o
f C
omm
odity
Pos
ition
s in
the
mar
ket
I w
ith a
vie
w to
opt
imis
ing
inve
stm
ent
. re
turn
s.
Off
er in
vest
men
t adv
ice
on a
rbitr
age
in t
he m
arke
t with
a v
iew
to
optim
isin
g in
vest
men
t re
turn
s.
Off
er i
nves
tmen
t ad
vice
on
pric
ing
in
the
mar
ket w
ith a
vie
w to
opt
imis
ing
inve
stm
ent r
etur
ns.
Off
er in
vest
men
t adv
ice
on p
rice
mov
emen
ts in
the
mar
ket
with
a v
iew
to
opt
imis
ing
inve
stm
ent r
etur
ns.
... g z o til .....
U'1 .,. Ci) o < m
JJ
z s: m
z -l
Ci) ~ m
~ m
U'1 o () b OJ
m
JJ
f\l o o ill
.. r--
...._
.N
o.
Ta
sk
Kn
ow
led
ge
ciT
teifa
--·
I S
kill
Cri
teri
a -9~
Con
duct
a te
chni
cal
anal
ysis
I E
xpla
in t
he g
e ne
ral
prin
cipl
es o
f te
chni
cal
anal
ysis
and
the
thr
ee
Off
er in
vest
men
t ad
vice
on
tech
nica
l of
the
mar
ket.
broa
d ar
eas
tt-at
it c
an b
e di
vide
d in
. I a
naly
sis
in t
he m
arke
t with
a v
iew
to
optim
isin
g in
vest
men
t re
turn
s.
(.Q
< C
hart
pat
lern
s an
d tr
end
95
Dis
cuss
the
diff
eren
t ty
pes
of c
hart
s an
d be
abl
e to
rea
d a
tren
d i
Off
er in
vest
men
t ad
vice
on
char
t id
entif
icat
ion
To
pro
vide
an
d dr
aw c
an!
usio
n fr
om it
. I
patle
rns
and
tren
ds in
the
mar
ket
with
~ ~
advi
ce t
o cl
ient
s w
ith r
espe
ct
a vi
ew to
opt
imis
ing
inve
stm
ent
(f)
to t
rend
ide
ntifi
catio
n us
ing
retu
rns.
6 m
I cha
rt p
atte
rns
in t
he m
arke
t. ;IJ
» z _-I
--'
96
(J1
Pro
vide
adv
ice
to c
lient
s w
ith
inve
stm
ent
advi
ce o
n tr
ader
Exp
lain
marf~el se
ntim
ent
and
be a
ble
to d
eter
min
e th
e o
resp
ect
to m
arke
t se
ntim
ent
sent
imen
t in
the
mar
ket
with
a v
iew
in
the
ma
rke
t se
ntim
ent
in t
h e
mar
ket
usin
a di
ffere
nt m
eans
. ~
to o
ptim
isin
g in
vest
men
t re
turn
s.
o III
m
._....
;IJO
ffer
inve
stm
ent
advi
ce o
n m
arke
tP
rovi
de a
dvic
e to
clie
nts
with
E
xpla
in h
ow s
udy
ing
mar
ket
stru
ctur
e to
ant
icip
ate
pric
e an
d 97
N
ost
ruct
ure
in t
he m
ark
et w
ith a
vie
w to
re
spec
t to
the
im
pact
of
time
expe
ctat
i ons
and
the
the
orie
s in
thi
s re
gard
. o co
optim
isin
g in
vest
m e
nt r
etur
ns.
expe
ctat
ions
in t
he m
arke
t. m
arke
t st
ruct
ure
on p
rice
L..
.........
-
z p U) ::: ~ ~
79
Se
ctio
n 1
0:
RE
10:
S
eco
nd
Le
vel
Re
gu
lato
ry E
xam
ina
tio
n:
Sh
ort
Te
rm I
nsu
ran
ce:
Pe
rso
na
l L
ine
s
(1 )
A
ll re
pres
enta
tives
per
form
ing
finan
cial
ser
vice
s in
rel
atio
n to
cat
egor
y I
deal
ing
with
the
sub
cate
gory
Sho
rt T
erm
Ins
uran
ce:
Per
sona
l Li
nes
are
requ
ired
to c
ompl
ete
a fir
st le
vel
regu
lato
ry e
xam
inat
ion,
bas
ed o
n th
e qu
alify
ing
crite
ria a
s it
appe
ars
in S
ectio
n 4
and
a se
cond
le
vel
regU
lato
ry e
xam
inat
ion
base
d on
the
qua
lifyi
ng c
riter
ia in
Sec
tion
10.
(2)
E
xam
inat
ion
bodi
es h
ave
the
disc
retio
nary
pow
ers
to o
ffer
a co
mbi
natio
n ex
amin
atio
n fo
r re
pres
enta
tives
wor
king
with
cat
egor
y I,
deal
ing
with
the
sub
cate
gory
Sho
rt T
erm
Ins
uran
ce:
Per
sona
l Li
nes,
whe
re s
uch
repr
esen
tativ
es m
ay
choo
se to
com
plet
e on
e ex
amin
atio
n th
at
addr
esse
s th
e qu
alify
ing
crite
ria
as it
app
ears
in S
ectio
ns 4
and
10.
(3
) T
he q
ualif
ying
cri
teri
a in
Sec
tion
4 an
d S
ectio
n 10
ser
ve a
s th
e cr
iteria
aga
inst
whi
ch q
ualif
icat
ions
will
be
eval
uate
d fo
r in
clus
ion
on t
he
list o
f re
cogn
ised
qua
lific
atio
ns.
NO
. T
AS
K
1.
Det
erm
ine
the
clie
nts
need
fo
r in
sura
nce.
---::-~-
2.
rvla
tch
the
clie
nt's
nee
d to
the
re
leva
nt p
rodu
cVs.
3.
App
ly u
nder
wri
ting
crite
ria.
,~~
KN
OW
LE
DG
E C
RIT
ER
IA
SK
ILL
CR
ITE
RIA
Exp
lain
the
prin
cipl
es o
f in
sura
nce
incl
udin
g th
e A
sk r
elev
ant
ques
tions
rel
atin
g to
pro
duct
offe
ring
in
conc
epts
of
insu
rabl
e in
tere
st,
insu
rabl
e ris
k, d
uty
of
orde
r to
det
erm
ine
the
clie
nts
need
for
insu
ranc
e.
disc
losu
re,
inde
mni
ty,
aver
age,
com
pens
atio
n,
subr
ogat
ion,
pro
xim
ate
caus
e, c
ontr
ibut
ion.
Exp
lain
the
pol
icy
wor
ding
/s in
clud
ing
the
conc
ept
I Gat
her
rele
vant
info
rmat
ion
by c
ompl
etin
g a
ques
tionn
aire
whe
re a
pplic
able
. I
of
exce
ss,
unde
rwrit
ing
crite
ria
and
type
s of
per
ils.
Est
ablis
h th
e in
sura
ble
inte
rest
, pr
evio
us c
laim
s lo
ss h
isto
ry,
prev
ious
insu
ranc
e an
d pe
rson
al
finan
cial
sta
tus
of t
he c
lient
.
Des
crib
e th
e be
nefit
s of
fere
d by
rel
evan
t pr
oduc
ts.
Exp
lain
the
diff
eren
t lin
es o
f in
sura
nce.
I-
c, ~
-~
Exp
lain
the
diff
eren
t typ
es o
f co
ver
(incl
udin
g se
lf in
sura
nce)
ava
ilabl
e an
d th
e im
plic
atio
ns a
nd
bene
fits
ther
eof.
Des
crib
e cl
ient
spe
cific
con
trac
tual
obl
igat
ions
e.g
. H
P a
gree
men
ts,
tena
nt li
abili
ty.
Exp
lain
how
to a
pply
the
unde
rwrit
ing
crite
ria.
Exp
lain
the
con
cept
of
rein
sura
nce
and
limits
of
Ireten
tion
of th
e C
ompa
ny.
Cap
ture
rel
evan
t in
form
atio
n.
Exp
lain
and
app
ly p
rinci
ples
of
insu
ranc
e.
Iden
tify
the
area
s of
ris
k to
whi
ch t
he c
lient
is
expo
sed.
Con
duct
a c
ompa
rison
of t
ypes
of c
over
ava
ilabl
e to
th
e cl
ient
.
Det
erm
ine
fact
ors/
haza
rds
that
will
inf
luen
ce r
isk.
Iden
tify
addi
tiona
l req
uire
men
ts.
load
ings
, di
scou
nts
and
exce
sses
whi
ch m
ay n
eed
to b
e ap
plie
d.
..... .... o z o W
.....
(}1
-' ~
G) o <
m
:0 z s: m
z -l
G) ~ 9
m
.... (}
1 o Q
o OJ
m
:0
I\J 8 Ol
I
-----
80
TA
SK
NO
. K
NO
WL
ED
GE
CR
ITE
RIA
Dra
ft/re
ques
t a
quot
atio
n fo
r 4.
E
xpla
in t
he a
pplic
abili
ty o
f ra
les
stru
ctur
es.
insu
ranc
e.
Agr
ee t
erm
s an
d co
nditi
ons
of
cove
r.
5.
--=-
----
---
Pro
vide
a s
ervi
ce t
o th
e cl
ient
/ m
aint
ain
po
licy
/ cl
ient
re
tent
ion.
7.
,
Exp
lain
the
con
cept
of
SA
SR
IA a
s it
appl
ies
to
prem
ium
.
Des
crib
e en
dors
emen
ts,
rest
rictio
ns,
excl
usio
ns,
. co
nditi
ons
of in
sura
nce,
app
liCA
tion
of t
erm
s an
d co
nditi
ons
as a
pplie
d to
the
quo
tatio
n.
--cc-----·
Issu
e po
licy
/ fu
lfilrn
en
t6.
E
xpla
in t
he p
roce
dure
for
iss
uing
pol
icie
s/fu
lfilm
ent.
docu
men
t.
SK
ILL
CR
ITE
RIA
App
ly,
calc
ulat
e an
d ill
ustr
ate
appl
icab
le r
ates
in
clud
ing
fees
and
SA
SR
IA w
ith t
akin
g re
insu
ranc
e in
to c
onsi
dera
tion
whe
re a
pplic
able
.
Pre
sent
the
agr
eed
term
s an
d co
nditi
ons
to t
he
prop
oser
.
Obt
ain
acce
ptan
ce f
rom
clie
nt.
Fol
low
up
on o
utst
andi
l jllC:llltnlL~
(I
valu
atio
n ce
rtifi
cate
s se
curi
ty r
equi
rem
ent
cert
ifica
tes)
.
Sub
mit/
rece
ipt
of c
losi
ngs/
acce
ptan
ce o
f quo
te.
Ens
ure
accu
racy
of
cloS
ings
/acc
epta
nce
to t
he
quot
e.
Issu
e po
licy/
fulfi
lmen
t do
cum
ent.
Qua
lity
assu
ranc
e of
pol
icy
docu
men
t/co
ntra
ct to
qu
ote/
prop
osal
/clo
sing
s.
Exp
lain
the
con
cept
and
pro
cess
of
rene
wal
/rev
iew
of
pol
icie
s.
Ana
lyse
the
per
form
ance
of t
he p
olic
y an
d es
tabl
ish
whe
ther
the
pol
icy
still
mee
ts t
he n
eed
of t
he c
lient
.
Exp
lain
the
pro
cedu
res
for
mak
ing
addi
tions
or
chan
ges
to p
oliC
ies
and
the
impl
icat
ions
ther
eof.
Agr
ee c
hang
es in
ter
ms
and
cond
ition
s of
pol
icy.
Exp
lain
the
con
ditio
ns o
f co
llect
ion
and
paym
ent
of
prem
ium
s.
Com
mun
icat
e an
d co
nfirm
all
chan
ges
to p
olic
ies
with
all
rele
vant
par
ties.
Exp
lain
the
rep
lace
men
t po
licy
conc
epts
as
defin
ed
in B
oard
Not
ice
43/2
008
Am
endm
ent
of P
art X
of
Sch
edul
e of
Not
ice.
Obt
ain
supp
ortin
g do
cum
enta
tion
for
chan
ges
whe
re r
equi
red.
(J) ~ ;..;
(J) A o m
:0 » Z _-
I
()'1
o Q o !II m
:0
I\) o o co z p w
.....
(]I .... .j>. ... ... ...
I
81
-TA
SK
KN
OW
LE
DG
E C
RIT
ER
IA
8.
PI
a Id
tif
y Ih
ethe
r th
e I,
is
insu
red
peril
in
term
s o
f th
e pO
licy/
fulfi
lmen
t.
Exp
lain
the
cla
ims
proc
edur
e an
d cr
iteri
a fo
r cl
aim
s of
the
ins
urer
. --
Exp
lain
the
con
cept
and
app
licab
ility
of
third
par
ty
insu
ranc
e an
d th
e p
roce
dure
for
third
par
ty
insu
ranc
e cl
aim
s.
Des
crib
e th
e ro
le o
f th
e re
leva
nt p
artie
s to
a c
laim
.
Exp
lain
the
typ
es o
f co
mp
uls
ory
legi
slat
ive
insu
ranc
e.
Exp
lain
wha
t th
e ap
plic
able
for
mul
as a
re (
e.g.
av
erag
e, b
ett
erm
en
t an
d co
ntrib
utio
n) a
nd h
ow
the
y sh
ould
be
used
.
9.
Rec
over
y/m
itiga
tion
of
loss
es.
Exp
lain
the
pro
cess
of
salv
age
of
good
s an
d re
cove
ry o
f mon
ey.
Exp
lain
the
lega
l rig
hts
of
reco
urse
(i.e
. su
brog
atio
n) a
vaila
ble
to t
he r
elev
ant
part
ies.
SK
ILL
CR
ITE
RIA
Mak
e am
endm
ents
to
polic
ies
and
issu
e en
dors
emen
t.
Ens
ure
colle
ctio
n/pa
ymen
t/re
fund
of
prem
ium
s.
'Gat
herr
elev
ant
info
rmat
ion
rela
ting
to t
he c
laim
fr
om t
he c
lient
.
Adv
ise
the
clie
nt o
n th
e cl
aim
s pr
oced
ure.
Rec
ord
the
deta
ils o
f th
e in
cide
nt o
r lo
ss f
or r
ecor
d ke
epin
g.
Not
ify th
e re
leva
nt p
artie
s o
f the
pot
entia
l lo
ss.
Obt
ain
all
rele
vant
doc
umen
tatio
n re
gard
ing
the
clai
m.
Val
idat
e th
e do
cum
ents
/info
rmat
ion
and
the
legi
timac
y of
the
clai
m.
Est
ablis
h lia
bilit
y in
te
rms
of th
e po
licy
(App
oint
loss
ad
just
or/a
sses
sor
and/
or in
vest
igat
or if
nec
essa
ry).
Est
ablis
h th
e va
lue/
quan
tum
of t
he c
laim
.
Not
ify r
elev
ant
part
ies
of
clai
ms
outc
ome
(set
tle/r
ejec
t) i
nter
nal
and
exte
rnal
.
Set
tle th
e cl
aim
(if
adm
itted
).
Rec
ord
final
isat
ion
of
clai
m.
Det
erm
ine
avai
labl
e re
cour
se/r
ecov
ery
actio
ns.
-Det
erm
ine-
the
invo
lvem
ent
of th
e cl
ient
in t
his
proc
ess.
I I
... !\) z o w
.....
01
~
G) o < m
II
z s: m
~ G) ~ 9
JTl
01
o ~
III m
II
I\l o o co
82
TA
SK
K
NO
WL
ED
GE
CR
ITE
RIA
S
KIL
L C
RIT
ER
IA
Adv
ise
clie
nt o
f act
ions
/pro
cess
to
be t
aken
and
Iim
plem
ent
reco
very
act
ions
whe
re a
ppro
pria
te.
I Est
ablis
h th
e re
lativ
e in
tere
st o
f th
e pa
rtie
s in
any
re
cove
ry a
chie
ved.
Rec
ord
final
isat
ion
of r
ecov
ery/
miti
gatio
n se
ttlem
ent.
(J)
--I ~ (J) ;;<; o m
~ z :-I
01 o ~
OJ
m
Jl
F\
:) g o:l z 9 (,.)
01 ... .j>. ... .... eN
83
Sec
tio
n 1
1 R
E 1
1:
Sec
on
d L
evel
Reg
ula
tory
Exa
min
atio
n:
Sh
ort
Ter
m I
nsu
ran
ce:
Co
mm
erci
al L
ines
(1 )
A
ll re
pre
sen
tativ
es
perf
orm
ing
finan
cial
ser
vice
s in
rel
atio
n to
ca
teg
ory
I d
ealin
g w
ith t
he s
ub
cate
go
ry S
ho
rt T
erm
In
sura
nce
: C
omm
erci
al
Line
s a
re r
equi
red
to c
om
ple
te a
firs
t le
vel
regu
lato
ry e
xam
inat
ion,
bas
ed o
n th
e q
ua
lifyi
ng
cri
teri
a a
s it
ap
pe
ars
in S
ectio
n 4
and
a se
cond
le
vel r
eg
ula
tory
exa
min
atio
n b
ase
d o
n th
e qu
alify
ing
crite
ria
in S
ectio
n 11
. (2
) E
xam
inat
ion
bo
die
s ha
ve t
he d
iscr
etio
na
ry p
ower
s to
off
er
a co
mbi
natio
n ex
amin
atio
n fo
r re
pres
enta
tives
wor
king
with
ca
teg
ory
i, d
ealin
g w
ith t
he s
ub
cate
go
ry S
ho
rt T
erm
in
sura
nce
: C
om
me
rcia
l Li
nes,
wh
ere
suc
h re
pres
enta
tives
ma
y ch
oo
se t
o co
mpl
ete
one
exa
min
atio
n t
hat
addr
esse
s th
e qu
alify
ing
crite
ria
as
it ap
pear
s in
Sec
tions
4 a
nd 1
1.
(3)
Th
e q
ualif
ying
cri
teri
a in
Sec
tion
4 an
d S
ectio
n 11
se
rve
as
the
crite
ria
agai
nst
whi
ch q
ua
lific
atio
ns
will
be
eval
uate
d fo
r in
clus
ion
on t
he
list o
f re
cog
nis
ed
qua
lific
atio
ns.
.....
.....
.j:o z o (,)
-'
01
.j::. G.l
o <
m
:n z s:: m
z -I
G.l ~ g .m
.....
01 o ~ o cr:J m
:n J\) o o (Xl
TA
SK
~
1.
Det
erm
ine
the
clie
nts
in
sura
nce
need
s.
KN
OW
LE
DG
E C
RIT
ER
IA
I E
xpla
in t
he p
rinc
iple
s o
f in
sura
nce
incl
udin
g th
e co
ncep
ts o
f in
sura
ble
inte
rest
, in
sura
ble
risk,
du
ty o
f di
sclo
sure
, in
dem
nity
, av
erag
e, c
om
pe
nsa
tion
, su
brog
atio
n, p
roxi
mat
e ca
use,
con
trib
utio
n.
Exp
lain
the
diff
eren
t lin
es o
f in
sura
nce.
De
scri
be
the
diff
ere
nt
type
s o
f co
ver
(incl
udin
g se
lf in
sura
nce
/fu
nd
ing
e.g
. a
gg
reg
ate
exc
esse
s)
avai
labl
e an
d th
e i
mpl
icat
ions
and
ben
efits
the
reof
.
, B
asic
kn
ow
led
ge
and
und
erst
andi
ng o
f fin
anci
al
SK
ILL
CR
ITE
RIA
J
De
term
ine
the
clie
nts
need
fo
r in
sura
nce
by
ask
ing
re
leva
nt q
uest
ions
rel
atin
g to
pro
duct
off
erin
g.
Co
nd
uct
a n
eeds
ana
lysi
s b
y as
king
re
leva
nt
qu
est
ion
s an
d g
ath
eri
ng
rel
evan
t in
form
atio
n.
Co
mp
lete
rel
evan
t re
cord
s.
Ide
ntif
y th
e a
rea
s o
f ris
k to
whi
ch t
he c
lien
t is
I
sta
tem
en
ts.
expo
sed.
De
scri
be
wh
at a
nic
he m
ark
et
is.
Exp
lain
whe
n to
ref
er t
o a
nich
e sp
ecia
list.
Exp
lain
the
pri
ncip
les
of in
sura
nce.
Inte
rpre
t ba
sic
finan
cial
sta
tem
ents
in o
rde
r to
d
ete
rmin
e a
clie
nt's
fin
anci
al r
isk.
Est
ablis
h th
e cl
ien
t's li
mita
tions
and
res
tric
tions
, in
clud
ing
affo
rdab
ility
.
Ap
ply
the
prin
cipl
es o
f in
sura
nce.
Est
ablis
h th
e in
sura
ble
inte
rest
, pr
evio
us c
laim
s lo
ss
hist
ory,
pre
viou
s in
sura
nce
and
per
sona
l fin
anci
al
stat
us o
f th
e c
lient
. I
84
I,. . I ~O'~;'
~hthe a::
~~riate
I~,aln
the te::
~:~~::
::::-p
-ro:uc
isjAna
lyse the
data ::~
e~e~~:
:~: clien
t In order t
o I
prod
uct
to t
he c
lient
's
I av
aila
ble.
es
tabl
ish
the
insu
rabl
e in
tere
st a
nd n
eed
of t
he
I n
ee
ds..
cli~e~
nt~._
__
__
__
__
__
__
__
__
__
__
__
__
__
__
__
_~
I D
escr
ibe
the
bene
fits
offe
red
by r
elev
ant
prod
ucts
. C
ondu
ct a
com
pari
son
of t
ypes
of c
over
ava
ilabl
e to
th
e cl
ient
.
3.
I App
ly u
nder
wri
ting
crite
ria.
5.
Dra
ft/re
ques
t a
quot
atio
n.
Pre
sent
quo
tatio
n to
the
cl
ient
.
-----
Exp
lain
the
con
cept
and
typ
es o
f re
insu
ranc
e (w
ith
appl
icab
ility
) an
d lim
its o
f re
tent
ion
of t
he C
ompa
ny.
! E
xpla
in h
ow 1
0 ap
ply
the
unde
rwrit
ing
crite
na a
nd
whe
n su
rvey
s ar
e re
quire
d.
Exp
lain
the
pol
icy
wor
ding
/s i
nclu
ding
the
con
cept
of
, ex
cess
, un
derw
ritin
g cr
iteri
a an
d ty
pes
of p
erils
and
ha
zard
s.
Des
crib
e h
ow
the
seve
rity
and
fre
quen
cy o
f a r
isk
, co
uld
impa
ct o
n ac
cept
ance
of
a ris
k or
the
prem
ium
.
Exp
lain
the
app
licab
ility
of
rate
s st
ruct
ures
.
Exp
lain
and
use
of
appl
icab
le fo
rmul
as.
Exp
lain
the
con
cept
s of
SA
SR
INN
AS
RIA
, V
AT
(C
ross
bor
der)
, re
insu
ranc
e an
d fe
es a
s th
ey a
pply
to
Exp
lain
how
to a
pply
the
law
of c
ontr
act t
o in
sura
nce
polic
ies.
1-
--
Det
erm
ine
fact
ors/
haza
rds
that
will
inf
luen
ce r
isk
in
term
s of
sev
erity
and
fre
quen
cy.
Iden
tify
addi
tiona
l req
uire
men
ts,
load
ings
, di
scou
nts
and
exce
sses
whi
ch m
ay
need
to
be a
pplie
d.
Use
the
Pre
pare
a q
uota
tion
for
a co
mm
erci
al s
hort
term
in
sura
nce
polic
y.
App
ly,
calc
ulat
e an
d di
sclo
se a
pplic
able
rat
es
incl
udin
g fe
es,
SA
SR
IA a
nd r
eins
uran
ce w
here
ap
plic
able
.
Cal
cula
te t
he p
rem
ium
inc
ludi
ng r
eins
uran
ce w
here
ap
plic
able
.
Pre
sent
and
exp
lain
the
ter
ms
and
cond
ition
s to
the
cl
ient
.
Ver
ify th
at th
e qu
ote
mee
ts t
he c
lient
's n
eeds
.
CJ:l ~ ~ en
A o m
lJ ~ .-i
U1 o ~ o OJ
m
lJ
f\
) o o CD z ? (,)
U1
-"
-I> .... ... (1
1
... ...
NO
.
7.
TA
SK
pare
/req
uest
a
Pre
po
l cy/
fulfi
lmen
t d
ocu
me
nt.
Pro
cl
ie
clie
vide
a s
ervi
ce t
o th
e nt
/ m
aint
ain
polic
y/
nt r
eten
tion.
KN
OW
LE
DG
E C
RIT
ER
IA
I Exp
lain
the
pro
cedu
re f
or
issu
ing
polic
ies/
fulfi
lmen
t.
Des
crib
e th
e co
nce
pt
and
proc
ess
of r
enew
al/r
evie
w
of p
olic
ies.
Exp
lain
the
pro
cedu
res
for
mak
ing
addi
tions
or
chan
ges
to p
olic
ies
and
the
impl
icat
ions
the
reof
.
Exp
lain
con
ditio
ns o
f col
lect
ion
and
paym
ent
of
prem
ium
s.
Exp
lain
rep
lace
men
t po
licy
conc
epts
as
defin
ed in
B
oard
Not
ice
43/2
008
Am
en
dm
en
t of
Par
t X o
f S
ched
ule
of N
otic
e.
-
SK
ILL
CR
ITE
RIA
Ens
ure
that
a s
urve
y is
con
duct
ed w
here
app
licab
le.
Ma
ke r
ecom
men
datio
ns o
f m
easu
res
that
can
be
put
in p
lace
to r
educ
e lo
sses
or
impr
ove
risk.
I Exp
lain
fin
anci
al o
ptio
ns f
or m
anag
ing
risk
with
.
refe
renc
e of
tra
nsfe
rrin
g th
e ris
k an
d se
lf fu
ndin
g.
Pre
sent
any
cha
nges
to
term
s an
d co
nditi
ons
whe
re
appl
icab
le.
Obt
ain
acce
ptan
ce fr
om c
lient
.
Fol
low
up
on o
utst
andi
ng r
equi
rem
ents
or
docu
men
tatio
n (e
.g.
valu
atio
n ce
rtifi
cate
s, s
ecur
ity
requ
irem
ent
cert
ifica
tes
and
finan
cial
sta
tem
ents
et
c).
I Sub
miV
rece
ipt
of c
losi
ngs/
acce
ptan
ce o
f quo
te.
Ens
ure
accu
racy
of
t;IU
::>
lIly
::>
/ctt
;o..
;t::
f../
Lct
llo.
.;t:
: to
the
qu
ote.
Is
sue
polic
y/fu
lfilm
ent
docu
men
t/co
ntra
ct.
Qua
lity
assu
ranc
e o
f po
licy
docu
men
Vco
ntra
ct to
qu
ote/
prop
osal
/clo
sing
s.
Ana
lyse
the
per
form
ance
of t
he p
olic
y an
d es
tabl
ish
whe
ther
the
pol
icy
still
mee
ts th
e ne
ed o
f th
e cl
ient
.
Ren
egot
iate
ter
ms
and
cond
ition
s of
pol
icy
as
appr
opria
te.
Com
mun
icat
e an
d co
nfir
m a
ll ch
ange
s to
pol
icie
s w
ith a
ll re
leva
nt p
artie
s.
Obt
ain
supp
ortin
g do
cum
enta
tion
for
chan
ges
whe
re
requ
ired.
Ma
ke a
men
dmen
ts t
o po
licie
s an
d is
sue
01 z 9 w
01
-"
.j:> (j) o <
m
:0 z s:: m
z -I ~ sn 01 § o OJ m
JJ
I\l o o OJ
86
TA
SK
K
NO
WL
ED
GE
CR
ITE
RIA
.
SK
ILL
CR
ITE
RIA
N°·1
I-I
1_
···..
I en
do
rse
me
nt.
I E
nsu
re-c-o-I-Ie-c-ti-o-n/-p-a-y-m-e-n-V-re-f-u-n-d-o-f-p-re-m-iu-m-s-.--~
I 8
Pro
cess
a c
laim
.
I Id
en
tify
wh
eth
er
the
loss
is a
n in
sure
d p
E eri!
in
term
s ,
Ga
the
r re
leva
nt
info
rma
tion
rel
atin
g to
th
e c
laim
i
of
the
po
licy/
fulfi
llme
nt.
fr
om
th
e c
lient
. I
--:-
:---
----
\-'
l:X
Pla
in th
e te
rms
and
cond
ition
s of
th
e,po
licy.
I
pro
ced
ure
.
9.
. E
xpla
in t
he c
laim
s pr
oceu
ure
an
d c
riter
ia a f
or
cla
ims
Re
cord
th
e d
eta
ils o
f th
e in
cid
en
t or
jos
s fo
r re
cord
I
of
the
in
sure
r.
kee
pin
g.
Exp
lain
th
e c
on
cep
t a
nd
ap
plic
ab
ility
of t
hird
par
ty
No
tify
the
re
leva
nt
part
ies
of t
he
po
ten
tial
loss
. in
sura
nce
and
th
e p
roce
du
re f
or
thir
d p
a rt
y in
sura
nce
cla
ims.
Exp
lain
th
e r
ole
of a
ll p
oss
ible
re
leva
nt
pa
rtie
s O
bta
in a
ll re
leva
nt
do
cum
en
tatio
n r
eg
ard
ing
th
e
invo
lve
d in
a c
laim
(e.
g. i
nsu
rer/
ced
ing
o
mp
an
y,
clai
m.
rein
sure
r/a
cce
ptin
g c
om
pa
ny,
th
e in
s ur
i d,
th
e
ass
ess
or
etc)
.
Va
lida
te t
he
do
cum
en
ts/in
form
atio
n a
nd t
he
le
giti
ma
cy o
f the
cla
im.
revi
ew
and
app
pe
als
of
Est
ab
lish
lia
bili
ty in
te
rms
of t
he p
olic
y (A
pp
oin
t lo
ss
Insu
ran
ce.
I ~xplain
the
typ
es
of
com
pu
lso
ry le
gis
lati v
e
ad
just
or/
ass
ess
or
an
d/o
r in
vest
iga
tor
if n
ece
ssa
ry).
Exp
lain
th
e u
se o
f a
pp
lica
ble
fo
rmu
las
(e e.g
. E
sta
blis
h t
he
va
lue
/qu
an
tum
of
the
cla
im.
ave
rag
e,
be
tte
rme
nt
an
d c
on
trib
utio
n).
No
tify
re
leva
nt
part
ies
of
cla
ims
ou
tco
me
(s
ett
le/r
eje
ct)
inte
rna
l an
d ex
tern
al.
Se
ttle
cla
im i
f ad
mitt
ed
(va
lid).
Re
cord
fin
alis
atio
n o
f cl
aim
. ----~-----:----~
De
term
ine
ava
ilab
le r
eco
urs
e!r
eco
very
act
ion
s.
Exp
lain
p
roce
ss
salv
ag
e o
f g
oo
ds
an
d
loss
es.
Re
cove
ry/m
itig
atio
n o
f re
cove
ry o
f m
on
ey.
Ul ~ '-j Ul
A o m ~
:-I
.....
()
1 o q o III m
lJ
I\) g z !? w
()
1 .....
.j>. .... ... ""
87
~NO.
TA
SK
I
KN
OW
LE
DG
E C
RIT
ER
IA
SK
ILL
CR
ITE
RIA
Exp
lain
the
leg
al r
ight
s of
rec
ours
e (i.
e. s
ubro
gatio
n)
avai
labl
e to
the
rel
evan
t pa
rtie
s.
Exp
lain
the
im
plic
atio
ns o
f VA
T.
Det
erm
ine
the
invo
lvem
ent o
f the
clie
nt in
thi
s pr
oces
s.
Adv
ise
clie
nt o
f act
ions
/pro
cess
to b
e ta
ken
and
impl
emen
t re
cove
ry a
ctio
ns w
here
app
ropr
iate
.
l..-
--.,
_..
~.
_.
Est
ablis
h th
e re
lativ
e in
tere
st o
f the
par
ties
in a
ny
reco
very
ach
ieve
d.
Set
tle b
etw
een
the
part
ies
invo
lved
.
Rec
ord
final
isat
ion
of r
ecov
ery/
miti
gatio
n se
ttlem
ent.
... ... Q) z o w
......
UI ......
.j:> GJ
o <
m
JJ
z
!i:
m
z -l
GJ ~ ~ m
UI o ~ o III m
JJ
fI,)
a a (Xl
----
-----
88
Se
ctio
n 1
2:
RE
12:
S
eco
nd
Le
vel
Re
gu
lato
ry E
xam
ina
tio
n:
He
alth
Car
e B
en
efi
ts
(1)
All
repr
esen
tativ
es p
erfo
rmin
g fin
anci
al s
ervi
ces
in r
elat
ion
to c
ateg
ory
I dea
ling
with
the
sub
cate
gory
Hea
lth C
are
Ben
efits
are
req
uire
d to
co
mpl
ete
a fir
st l
evel
reg
ulat
ory
exam
inat
ion,
bas
ed o
n th
e qu
alify
ing
crite
ria a
s it
appe
ars
in S
ectio
n 4
and
a se
cond
lev
el r
egul
ator
y ex
amin
atio
n ba
sed
on t
he q
ualif
ying
crit
eria
in S
ectio
n 12
. E
xam
inat
ion
bodi
es h
ave
the
disc
retio
nary
pow
ers
to o
ffer
a co
mbi
natio
n ex
amin
atio
n fo
r re
pres
enta
tives
wor
king
with
cat
egor
y I,
with
the
sub
cate
gory
Hea
lth C
are
Ben
efits
, w
here
suc
h re
pres
enta
tives
may
cho
ose
to c
ompl
ete
one
exam
inat
ion
that
add
ress
es th
e qu
alify
ing
crite
ria
as it
app
ears
in S
ectio
ns 4
and
12.
T
he q
ualif
ying
crit
eria
in S
ectio
n 4
and
Sec
tion
12 s
erve
as
the
crite
ria a
gain
st w
hich
qua
lific
atio
ns w
ill b
e ev
alua
ted
for
incl
usio
n on
the
lis
t of
reco
gnis
ed q
ualif
icat
ions
.
I K
NO
WL
ED
GE
CR
ITE
RIA
N
0'I
...
TA
SK
1.
I Neg
otia
te a
bro
ker I
lExpl
ain
the
prod
uct
spec
ific
feat
ures
and
ben
efits
. in
term
edia
ry a
gree
men
t with
a
med
ical
sch
eme.
I E
xpla
in th
e pr
oduc
t sp
ecifi
c ru
les
and
limita
tions
.
Des
crib
e th
e M
edic
al S
chem
e st
ruct
ures
.
Pro
vide
a g
ener
al o
verv
iew
of t
he i
ndus
try
and
an
y is
sues
tha
t ar
e cu
rren
tly im
pact
ing
on t
he
med
ical
sch
emes
. E
xpla
in t
he le
gisl
atio
n th
at i
mpa
cts
on t
he S
outh
A
!f'ic
an H
ealth
Car
e In
dust
ry.
Exp
lain
the
rel
evan
t m
odel
rul
es g
over
ning
M
edic
al S
chem
es.
_ ..
SK
ILL
CR
ITE
RIA
I
The
follo
win
g cr
iteria
ap
plie
s to
bro
kers
, pr
inci
ple
offic
ers
an
d b
oard
of t
rust
ees:
, E
xpla
in t
he r
oles
and
res
pons
ibili
ties
of t
he b
roke
r I a
nd t
he m
edic
al s
chem
e pr
inci
ple
offic
er a
nd
. tr
uste
es,
incl
udin
g th
e br
oker
agr
eem
ent w
ith t
he
sche
me.
Id
entif
y w
hat
info
rmat
ion
mus
t be
inc
lude
d
(cla
uses
) in
the
agr
eem
ent
to s
uppo
rt th
e ro
les
!
and
resp
onsi
bilit
ies
of th
e pa
rtie
s in
volv
ed.
Exp
lain
the
agre
emen
ts b
etw
een
the
med
ical
sc
hem
e an
d an
y th
ird p
artie
s, i
nclu
ding
but
not
lim
ite
dtC
J_<3
.dm
inis
trato
r,iD
anag
e ca
re n
etw
orks
,
Che
ck t
hat t
he b
roke
r ba
nkin
g de
tails
are
cor
rect
.
Con
firm
all
the
deta
ils s
tipul
ated
on
the
cont
ract
ar
e ac
cura
te a
nd r
elev
ant.
. _
.
(J) ~
'-l
(J
) A o m
JJ » z _-
l
U1 o ~ o OJ m
JJ
I\l 8 (Xl z w
.... U1 .... "'" .....
.....
<0
9
89
lNO.
TA
SK
K
NO
WL
ED
GE
CR
ITE
RIA
S
KIL
L C
RIT
ER
IA
I I
l_
etc.
Exp
lain
the
con
sequ
ence
s fo
r th
e br
oker
if th
ere
is .
Ent
er in
to th
e br
oker
agr
eem
ent.
no f
orm
al a
gree
men
t with
the
med
ical
sch
eme(
s).
f-::::~-~
12
Rec
eive
a d
irec
t le
ad.
i Des
crib
e w
hat
gene
ral
info
rmat
ion
is r
equi
red
Che
ck t
he b
asic
gen
eral
info
rmat
ion
of t
he
I fro
m t
he c
onsu
mer
to e
nsur
e th
at it
is a
legi
timat
e co
nsu
me
r i.e
. na
me,
con
tact
det
ails
, et
c. t
o en
sure
.
I lea
d.
that
it is
leg
itim
ate.
I ~x
plai
n wha~ ~onsu.mer in
form
atio
n is
req
uire
d fo
r C
heck
the
basi
c ge
nera
l in
form
atio
n of
the
. In
tern
al a
dmin
istr
ativ
e pr
oces
ses.
co
nsu
me
r cr
eatin
g an
int
erna
l adm
inis
trat
ive
Qro
cess
es a
nd d
atab
ase.
I
Exp
lain
wha
t con
sum
er in
form
atio
n is
req
uire
d fo
r O
btai
n in
form
atio
n fr
om t
he c
onsu
mer
on
how
the
the
inte
rnal
dat
abas
e.
lead
was
gen
erat
ed.
Exp
lain
the
rea
son
why
info
rmat
ion
mus
t be
ob
tain
ed f
rom
the
con
sum
er r
egar
ding
how
the
lead
was
gen
erat
ed.
I E
xpla
in t
he d
iscl
osur
e re
quire
men
ts a
s th
e F
AIS
-t-
Gen
eral
Cod
e o
f Con
duct
. (A
lso
incl
uded
in t
he
com
plai
nts
proc
edur
e.)
3.
Rec
eive
a r
efer
red
lead
. E
xpla
in w
hat t
he c
onsu
mer
's r
ight
s ar
e in
ter
ms
of
Che
ck t
he p
re-e
mpt
ive
bloc
k re
gist
er to
ide
ntify
if
the
Con
sum
er P
rote
ctio
n B
ill.
the
cons
umer
ma
y b
e c
onta
cted
in t
erm
s of
m
arke
ting.
E
xp
lain
the
impo
rtan
ce o
f che
ckin
g th
e pr
e-C
heck
the
bas
ic g
ener
al i
nfor
mat
ion
of t
he
empt
ive
bloc
k re
gist
er (
to s
ee i
f the
con
sum
er
con
sum
er
Le.
nam
e, c
onta
ct d
etai
ls,
etc.
to
ensu
re
ma
y be
con
tact
ed in
ter
ms
of m
arke
ting.
) th
at it
is l
egiti
mat
e.
Des
crib
e w
hat
gene
ral i
nfor
mat
ion
is r
equi
red
Cap
turin
g th
e ba
sic
gene
ral i
nfor
mat
ion
of th
e fr
om t
he c
onsu
mer
to e
nsur
e th
at it
is a
legi
timat
e co
nsu
me
r cr
eatin
g an
int
erna
l adm
inis
trat
ive
lead
. pr
oces
s an
d up
datin
g th
e da
taba
se.
Exp
lain
wha
t con
sum
er in
form
atio
n is
req
uire
d fo
r M
ake
con
tact
with
the
con
sum
er v
ia te
leph
one,
e
, in
tern
al a
dmin
istr
ativ
e pr
oces
ses.
m
ail,
fax,
or
face
-to-
face
.
I E
xpla
in w
hat c
onsu
mer
info
rmat
ion
is r
equi
red
for
Obt
ain
info
rmat
ion
from
the
co
nsu
me
r on
how
the
the
inte
rnal
dat
abas
e.
lead
was
gen
erat
ed.
~-~
~-~
~-
... I\) o z o w
.....
(]1 .....
.p
. Gl o <
m
JJ z ~ m
z -I
Gl ~ ~ J1l
(}1 § o III m
JJ
I\J
o o (Xl
I
90
TA
SK
K
NO
WL
ED
GE
CR
ITE
RIA
S
KIL
L C
RIT
ER
IA
IN°_I
re
ason
m
ust
be
obta
ined
fro
m t
he c
on
sum
er
rega
rdin
g h
ow
the
lead
was
gen
erat
ed .
Exp
lain
the
dis
clo
sure
req
uire
men
ts a
s th
e F
AIS
G
ener
al C
ode
of C
ondu
ct.
(Als
o in
clud
ed in
the
c(
)rnp
lain
ts p
roce
du
re.)
.. 1
1 ........
. E
xpla
in t
he i
mpo
rtan
t of
dis
clos
ing
the
Cou
ncil
of
I Dis
clos
e yo
ur C
ounc
il ac
cred
itatio
n an
d F
SP
m
edic
al S
che
me
s ac
cred
itatio
n an
d F
SP
lice
nse.
lic
ense
. ~.
..
.._
II
Exp
lain
the
dis
clo
sure
req
uire
men
ts a
s pe
r th
e
Dis
clos
e w
hich
med
ical
sch
em
es
you
are
L
· F
AIS
Gen
eral
Co
de
of
Con
duct
. ac
cred
ited
with
and
if
you
rece
ive
mor
e th
an 8
0%
of y
our
com
mis
sion
able
inc
ome
from
one
med
ical
sc
hem
e.
.-----------~-----~
.._
.. -'-
-,------,,----,--,..---.,..,-----:-,,------1
·
Dis
clos
e th
e b
roke
r fe
e in
volv
ed ..
. ou
tsid
e th
e re
gula
ted
com
mis
sion
.)
[-,~E:
-x-p:-
Ia-:-i
n-w-:-
h-y-c-
o-n-s-
e-nt-m
-u-s-t
-:-b-e
-o-:-b
-ta-'i
-ne-d-
:-:-fr
-o-m--
-'-th-
e---t-
-C::O~
b-ta-c
i:-n c
onse
nt to
act
on
beha
lf of
the
· co
nsu
me
r /
em
plo
yer
grou
p to
act
on
thei
r be
half.
m
embe
r/co
nsum
er,
or e
mpl
oyer
gro
up.
Exp
lain
the
im
po
rta
nce
of
reco
rd k
eepi
ng a
s it
Obt
ain
cons
ent f
rom
the
em
plo
yer
grou
p to
act
on
rela
tes
to d
iscl
osu
re r
equi
rem
ents
(O
btai
ning
the
be
half
of th
eir
empl
oyee
s.
of th
e co
nsu
me
r af
ter
disc
losu
re.)
Exp
lain
the
im
po
rta
nt
of c
ompl
ying
with
the
bro
ker
O
btai
n th
e co
nsum
er's
sig
natu
re t
o c
onfir
m t
hat
cod
e o
f co
nduc
t (a
pplic
able
to
brok
ers
th
ey h
ave
rece
ived
the
dis
clos
ure
info
rmat
ion.
(T
hat
he/s
he u
nder
stan
ds a
nd a
ckno
wle
dges
re
ceip
t of
the
docu
men
t, e
tc.)
r-
----
----
----
----
----
----
----
----
-4
sign
atur
e on
ap
poin
tmen
t le
tter
fr
om t
he c
on
sum
er
to a
ct o
n hi
s/he
r be
half.
Ren
der
serv
ices
to
con
sum
er
in a
cco
rda
nce
to t
he
bro
ker
code
of
cond
uct.
(Onl
y fo
r br
oker
s.)
Con
duct
a
need
s an
alys
is I E
xpla
in th
e co
st o
f the
ben
efits
of t
he m
edic
al
Con
duct
in-d
epth
in
terv
iew
with
the
co
nsu
me
r to
sc
hem
es.
obta
in t
he a
ppro
pria
te in
form
atio
n re
late
d to
his
/
5.
(J) ~ ~ (J) A o m ~
:-!
U1 o ~
ro m
JJ
I\
) 8 (X) z o (,.)
U1
-' +:> ... I\) ...
I\,)
I\
,)
91
z o til
NO
. T
AS
K
KN
OW
LE
DG
E C
RIT
ER
IA
SK
ILL
CR
ITE
RIA
-
Exp
lain
the
im
pact
of
prio
r m
embe
rshi
p of
any
ot
her
sche
me,
and
the
per
iod
of s
uch
mem
bers
hip.
E
xpla
in w
hat
pers
onal
inf
orm
atio
n is
req
uire
d fr
om
, a
cons
umer
, in
mak
ing
a fu
ll di
sclo
sure
.
Con
duct
in-d
epth
inte
rvie
w w
ith t
he c
onsu
mer
to
obta
in t
he a
ppro
pria
te in
form
atio
n re
late
d to
his
I he
r he
alth
car
e re
quire
men
ts.
Con
duct
in-d
epth
inte
rvie
w w
ith t
he c
onsu
mer
to
obta
in t
he a
ppro
pria
te in
form
atio
n re
late
d to
his
/
her
heal
th c
are
need
s.
Exp
lain
how
the
pers
onal
inf
orm
atio
n I s
ituat
ion
of
the
cons
umer
ma
y in
fluen
ce t
he s
chem
es! b
enef
it ch
oice
and
ben
efit
cost
s.
Obt
ain
pers
onal
inf
orm
atio
n fro
m t
he c
onsu
mer
th
at m
ay im
pact
on
the
bene
fit c
hoic
e pr
ovid
ed
that
incl
udes
, bu
t is
not
lim
ited
to:
Age
P
re-e
xist
ing
med
ical
con
ditio
ns
Whe
ther
trea
tmen
t was
rec
eive
d w
ithin
the
last
12
mon
ths.
F
amily
siz
e of
con
sum
er a
nd h
ow it
affe
cts
the
cost
ben
efit.
E
stab
lish
elig
ibili
ty fo
r an
y su
bsid
y fr
om e
mpl
oyer
. am
endm
ents
I ci
rcul
ars
and
sche
me
rule
s th
at
shou
ld b
e ta
ken
into
con
side
ratio
n w
hen
iden
tifyi
ng a
med
ical
sch
eme
/ be
nefit
opt
ion
for
the
cons
umer
. E
xpla
in w
hy t
he u
nder
writ
ing
prot
ocol
s sh
ould
be
Des
crib
e th
e M
edic
al s
chem
es A
ct I
regu
latio
n /
Iden
tify
the
unde
rwrit
ing
prin
cipl
es t
hat s
houl
d be
co
nsid
ered
whe
n re
nder
ing
advi
ce t
o th
e ta
ken
into
con
side
ratio
n w
hen
prov
idin
g a
cons
umer
. re
com
men
datio
n to
the
con
sum
er.
Exp
lain
wha
t fin
anci
al i
nfor
mat
ion
mu
st b
e O
btai
n an
ack
now
ledg
emen
t fro
m t
he c
onsu
mer
ob
tain
ed fr
om t
he c
onsu
mer
i.e.
inc
ome
to
that
he/
she
has
unde
rsto
od y
our
reco
mm
enda
tion
dete
rmin
e th
e af
ford
abili
ty o
f th
e co
ntrib
utio
n.
in t
he f
orm
of
a si
gned
app
rova
l.
Cal
cula
te t
he t
ax b
enef
it fo
r th
e co
nsum
er.
cons
umer
, w
ith r
egar
ds t
o th
eir
med
ical
sch
eme
and
heal
th c
are
expe
nses
. Id
entif
y w
hat
rele
vant
legi
slat
ion
shou
ld b
e ta
ken
Exp
lain
wha
t the
ta
x im
plic
atio
ns f
or th
e
0'1
./l. G) o < m
::0
Z :s: m
z -i
G) ~ 9
rn 0'1
o ~ o OJ
m
::0
I\) o o co
into
con
side
ratio
n w
hen
prov
idin
g ad
vice
to t
he
cons
umer
. (C
ompl
imen
tary
legi
slat
ion
i.e.
Tax
, F
ICA
, et
c.)
,~~
6
92
I S
KIL
L C
RIT
ER
IA
KN
OW
LE
DG
E C
RIT
ER
IA
IN6'
~r_
TA
SK
rCon
duct
a c
ompa
rativ
e m
edic
al
sche
me
anal
ysis
.
Des
crib
e th
e im
port
ance
of c
onsi
derin
g al
l de
mog
raph
ic a
nd f
inan
cial
inf
orm
atio
n on
med
ical
sc
hem
es,
incl
udin
g bu
t no
t lim
ited
to s
olve
ncy
ratio
, av
erag
e ag
e, p
ensi
oner
s ra
tio,
size
of t
he
sche
mes
, G
EM
S
rofil
e, e
tc.
Exp
lain
to
the
con
sum
er
the
brok
er's
rel
atio
nshi
p w
ith t
he c
on
sum
er
and
the
med
ical
sch
eme.
--=~
. ~~.
~
~~~~. _
.._--
. P
rovi
de a
gen
eral
ove
rvie
w o
f th
e in
dust
ry a
nd
any
issu
es t
hat
are
curr
ently
impa
ctin
g on
the
m
edic
a! s
chem
es.
Iden
tify
the
fact
ors
in t
he M
edic
al S
chem
e A
ct a
nd
regu
latio
ns t
hat
med
ical
sch
emes
hav
e to
adh
ere
to,
to b
e co
mpl
iant
.
"De
scri
be
the
Med
ical
sch
emes
Act
/ r
egul
atio
n /
amen
dmen
ts I
circ
ular
s an
d sc
hem
e ru
les
that
sh
ould
be
take
n in
to c
onsi
dera
tion
whe
n id
entif
ying
a m
edic
al s
chem
e /
bene
fit o
ptio
n fo
r th
e co
nsum
er.
Iden
tify
wha
t re
leva
nt l
egis
latio
n sh
ould
be
take
n in
to c
onsi
dera
tion
whe
n pr
ovid
ing
advi
ce to
the
co
nsum
er.
(Com
plim
enta
ry le
gisl
atio
n i.e
. T
ax,
FIC
A,
etc.
) D
escr
ibe
the
impo
rtan
ce o
f con
side
ring
all
dem
ogra
phic
and
fin
anci
al i
nfor
mat
ion
on m
edic
al
sche
mes
, in
clud
ing
but
not
limite
d to
sol
venc
y ra
tio,
aver
age
age,
pen
Sio
ners
rat
io,
size
of t
he
sche
mes
, G
EM
S p
rofil
e, e
tc.
Pro
vide
a g
ener
al o
verv
iew
of t
he i
ndus
try
and
any
issu
es th
at
are
curr
ently
impa
ctin
g on
the
i m
edic
al s
chem
es.
Cor
rect
ly id
entif
y th
e fa
ctor
s th
at s
houl
d be
tak
en
into
con
side
ratio
n w
hen
anal
ysin
g a
med
ical
sc
hem
e.
Iden
tify
an
y co
nflic
t of
inte
rest
, an
d di
sclo
se u
p-
fron
t to
the
con
sum
er.
~~
---~~
~~---~~
. ...
..
....
._-
....
...
. ...
Cor
rect
ly id
entif
y cu
rren
t is
sues
in t
he l
egis
lativ
e
and
med
ical
sch
eme
envi
ronm
ent
that
cou
ld
influ
ence
an
anal
ysis
of a
med
ical
sch
eme.
Acc
ess
and
anal
yse
the
med
ical
sch
eme'
s I
com
plia
nce
with
the
Med
ical
Sch
eme
Act
and
re
gula
tions
.
Acc
ess
and
anal
yse
glob
al c
redi
t ra
ting
for
each
m
edic
al s
chem
e th
at a
re b
eing
con
side
red.
Acc
ess
and
anal
yse
the
dem
ogra
phic
info
rmat
ion
from
the
med
ical
sch
emes
.
Iden
tify
tren
ds in
ter
ms
of g
row
th,
solv
ency
, pr
emiu
m i
ncre
ases
, se
rvic
e de
liver
y to
co
nsum
er/b
roke
rs a
nd s
ocia
l re
spon
sibi
lity
of
med
ical
sch
emes
.
~~ Est
ablis
h w
heth
er t
he a
dmin
istr
ator
and
an
y ot
her
third
par
ties,
are
com
plia
nt w
ith le
gisl
ativ
e re
quire
men
ts.
I Exp
lain
the
im
port
ance
of
the
glob
al c
redi
t ra
ting
Eva
luat
e op
erat
iona
l ef
ficie
ncy
of t
he m
edic
al
of m
edic
al s
chem
es.
sche
mes
. I
(f) ~
:...
t (J
) 6 m
JJ » z .-1 .... (Jl o ~ o OJ
m
JJ
1'1) o o co z o w
.....
(Jl .... ... ... ~
-----
.... II)
A93
z o
INO
. T
AS
K
I K
NO
WL
ED
GE
CR
ITE
RIA
S
KIL
L C
RIT
ER
IAI
Com
pare
the
diff
eren
t med
ical
sch
eme
optio
ns.
I sc
hem
es.
I JEx
pla
in t
he
co
st o
f th
e b
enef
rts
of t
he
med
iCB
J
7 M
ake
a de
cisi
on r
egar
ding
I
Exp
lain
the
im
pa
ct o
f pr
ior
mem
bers
hip
of a
ny
Sel
ect t
h-e
mos
t ap
prop
riat
e m
edic
al s
chem
e w
hich
med
ical
sch
em
e o
ptio
ns
,oth
er
sche
me,
and
the
per
iod
of s
uch
optio
n fo
r th
e co
nsum
er.
w
ould
be
the
mos
t ap
prop
riat
e ll11embership~
for
the
cons
umer
, ta
king
int
o I
Exp
lain
wha
t pe
rson
al i
nfor
mat
ion
is r
equi
red
from
co
nsid
erat
ion
the
me
mb
er
and
Ia c
onsu
mer
, in
mak
ing
a fu
ll di
sclo
sure
. m
edic
al s
chem
e an
alys
is t
ha
t
wer
e co
nduc
ted.
l?
eS
Cri
be
the
Med
ical
sch
emes
Act
I re
gula
tion
I I a
men
dmen
ts I
circ
ular
s an
d sc
hem
e ru
les
that
sh
ould
be
take
n in
to c
onsi
dera
tion
whe
n id
entif
ying
a m
edic
al s
chem
e I b
enef
it op
tion
for
the
cons
umer
. E
xpla
in w
hy t
he u
nder
writ
ing
prot
ocol
s sh
ould
be
Dem
onst
rate
to t
he c
onsu
mer
the
lpa
ct o
f the
co
nsid
ered
whe
n re
nder
ing
advi
ce to
the
un
derw
ritin
g.
cons
umer
. E
xpla
in w
hat f
inan
cial
inf
orm
atio
n m
ust
be
Cal
cula
te th
e co
ntri
butio
n to
the
mem
ber.
ob
tain
ed f
rom
the
con
sum
er i.
e. i
ncom
e to
-de
term
ine
the
affo
rdab
ility
of t
he c
ontr
ibut
ion.
E
xpla
in w
hat
the
tax
impl
icat
ions
for
the
Cal
cula
te t
he t
ax b
enef
it fo
r th
e co
nsum
er.
cons
umer
, w
ith r
egar
ds t
o th
eir
med
ical
sch
eme
. an
d he
alth
car
e ex
pens
es.
Dis
cuss
the
rele
vant
legi
slat
ion
with
the
con
sum
er
. in
to c
onsi
dera
tion
whe
n pr
ovid
ing
advi
ce to
the
I I
dent
ify w
hat
rele
vant
legi
slat
ion
shou
ld b
e ta
ken
to d
emon
stra
te t
he i
mpa
ct o
f the
legi
slat
ion
on t
he
cons
umer
. (C
ompl
imen
tary
legi
slat
ion
i.e.
Tax
, he
alth
car
e op
tion,
for
exa
mpl
e: H
ow c
om
mu
nity
F
ICA
. et
c.)
ratin
g w
orks
, ho
w th
e sa
ving
s ac
coun
t an
d ris
k po
ol w
orks
.
Exp
lain
to
the
con
sum
er
the
limite
d ch
oice
of
I de
mog
raph
ic a
nd f
inan
cial
info
rmat
ion
on m
edic
al
)o8
scri
be
the
impo
rtan
ce o
f co
nsid
erin
g al
l pr
ovid
ers
with
in t
he p
rovi
der
netw
ork
arra
ngem
ent
if ap
plic
able
. ra
tio,
aver
age
age,
pen
sion
ers
ratio
, si
ze o
f the
sc
hem
es,
GE
MS
pro
file,
etc
.
i sc
hem
es,
incl
udin
g bu
t no
t lim
ited
to s
olve
ncy
(..)
.....
(J
1 .....
A GJ o <
m
:;0 z ~ m
Z
-l
GJ F:i ~ J11
(J1 § o OJ
m
:;0
I\) o o Ol
94
IN~'L-
TA
SK
\U_
U K
NO
WL
ED
GE
CR
ITE
RIA
I I P
rovi
de a
gen
eral
ove
rvie
w o
f th
e in
dust
ry a
nd
Ii an
y is
sues
tha
t ar
e G
urre
ntly
impa
ctin
g on
the
11 I
med
ical
sch
emes
. r~~
~~~-
---~-
~-~.-~-~.. ----~--
'-.-'-c~~~~~~
I E
xpla
in t
he i
mpo
rtan
ce o
f th
e cr
edit
ratin
g I o
f m
edic
al s
chem
es.
i !
Des
crib
e th
e p
roce
sse
s an
d pr
oced
ures
inc
lude
d I
j in
the
man
aged
car
e in
itiat
ives
of
the
sche
me,
11
incl
udin
g bu
t no
t lim
ited
to p
re-a
utho
risat
ion,
ch
roni
c co
nditi
ons,
onc
olog
y, H
IV a
nd m
ater
nity
, ~
etc.
I
8.
~--.. R
ende
r ad
vice
to
the
con
sum
er.
E
xpla
in t
he m
edic
al s
chem
e ru
les
incl
uded
but
I
I no
t lim
ited
to w
aitin
g pe
riods
, la
te j
oine
r pe
nalti
es,
excl
usio
ns,
non-
disc
losu
re i
mpl
icat
ions
, an
d
upqr
ades
and
dow
nqra
des.
E
xpla
in t
he r
ecor
d ke
epin
g re
quire
men
ts in
ac
cord
ance
to
FA
IS A
ct a
nd F
ICA
.
Exp
lain
the
im
port
ance
of
prov
idin
g ad
vice
in
plai
n si
mpl
e an
d un
ders
tand
able
lang
uage
. (L
aym
an's
lan
guag
e.)
Exp
lain
the
co
st o
f the
ben
efits
of t
he m
edic
al
sche
mes
Exp
lain
the
im
pa
ct o
f pr
ior
mem
bers
hip
of a
ny
ot
her
sche
me,
and
the
per
iod
of s
uch
m
embe
rshi
p.
SK
ILL
CR
ITE
RIA
Dis
cuss
any
pro
pose
d fu
ture
cha
nges
in t
he
med
ical
sch
emes
ind
ustr
y th
at C
Qui
d im
pact
on
the
cons
umer
. ~--
..--~---~---~~~~
that
cou
ld
imp
act
on
med
ical
sch
eme
finan
cial
sou
ndne
ss.
whi
ch c
ould
in
fluen
ce th
e co
nsu
me
r's c
ontr
ibut
ion.
R
ecom
men
d a
med
ical
sch
em
e /
optio
n to
the
co
nsum
er.
Exp
lain
the
nec
essi
ty o
f m
anag
ed c
are
the
limita
tions
and
ben
efits
.
Edu
cate
the
co
nsu
me
r on
ben
efits
, pr
orat
ion
of
bene
fits,
pro
cess
es a
nd p
roce
dure
s in
clud
ed b
ut
not l
imite
d to
pre
-aut
hori
satio
n, c
hron
ic c
ondi
tions
, on
colo
gy,
HIV
and
mat
erni
ty,
etc.
E
xpla
in t
o th
e co
nsu
me
r th
e be
nefit
s of
the
m
edic
al s
chem
e (in
acc
orda
nce
to t
he c
om
pa
ny
prot
ocol
s) i
nclu
ding
but
not
lim
ited
to s
elf-
paym
ent
gaps
, m
edic
al s
avin
gs a
ccou
nt,
thre
shol
ds,
annu
al
limits
, de
duct
ible
s, s
ub-l
imits
, pr
efer
red
prov
ider
ne
twor
ks,
PM
Bs,
BB
Ps,
etc
.
Exp
lain
the
app
ropr
iate
med
ical
sch
em
e r
ules
, in
clud
ed b
ut n
ot li
mite
d to
upg
rade
s, t
imef
ram
es
with
in w
hich
upg
rade
s m
ay
be d
one,
LJP
s,
cond
ition
spe
cific
exc
lusi
ons,
nor
mal
exc
lusi
ons,
w
aitin
g pe
riods
, co
mp
lime
nta
ry b
enef
its,
prem
ium
w
aver
, et
c.
Dis
cuss
the
Nat
iona
l H
ealth
Ref
eren
ce P
rice
Lis
t (N
HR
PL)
and
the
app
ropr
iate
tar
iffs
used
by
the
med
ical
sch
emes
.
(f) ..., ~ (f) A o m
II » z ."" (}
l o ~
(Il m
II
N o o co z 9 w
.... (}l .... "" ... N
(Jl
--
95
TA
SK
K
NO
WL
ED
GE
CR
ITE
RIA
S
KIL
L C
RIT
ER
IA
Exp
lain
wha
t pe
rson
al i
nfor
mat
ion
is r
equi
red
from
a
cons
umer
.
Exp
lain
how
the
per
sona
l in
form
atio
n I s
ituat
ion
of
I th
e co
nsum
er m
ay
influ
ence
the
sche
mes
/ be
nefit
ch
oice
and
ben
efit
cost
s.
Des
crib
e th
e M
edic
al s
che
me
s A
ct I
regu
latio
n /
amen
dmen
ts /
cir
cula
rs a
nd
sch
eme
rule
s th
at
shou
ld b
e ta
ken
into
con
side
ratio
n w
hen
iden
tifyi
ng a
med
ical
sch
em
e /
bene
fit o
ptio
n fo
r th
e co
nsum
er.
Exp
lain
why
the
un
de
rwri
ting
pro
toco
ls s
houl
d be
co
nsid
ered
whe
n re
nder
ing
advi
ce t
o th
e co
nsum
er.
Con
firm
with
th
e m
edic
al s
chem
e a
ny
late
join
er
I fe
e an
d un
derw
ritin
g w
here
app
licab
le t
o th
e co
nsum
er.
Re-
conf
irm t
he c
ompl
aint
pro
cess
with
the
co
nsum
er.
Obt
ain
sign
-off
from
the
co
nsu
me
r as
con
firm
atio
n o
f his
/her
und
erst
andi
ng o
f th
e in
form
atio
n an
d ad
vice
pro
vide
d.
Adv
isin
g th
e em
ploy
er/m
embe
r on
the
im
pa
ct o
f a
ny
chan
ges
in t
he m
edic
al s
chem
e en
viro
nmen
t th
at w
ill i
nflu
ence
an
y po
st-r
etir
emen
t lia
bilit
y.
i I
Exp
lain
wha
t fin
anci
al i
nfor
mat
ion
mu
st b
e ob
tain
ed f
rom
the
co
nsu
me
r i.e
. in
com
e to
de
term
ine
the
aff
ord
ab
ility
of
the
cont
ribut
ion.
E
xpla
in w
hat
the
tax
impl
icat
ions
for
the
co
nsum
er.
Iden
tify
wha
t re
leva
nt le
gisl
atio
n sh
ould
be
take
n in
to c
onsi
dera
tion
whe
n pr
ovid
ing
advi
ce to
the
co
nsum
er.
(Com
plim
enta
ry le
gisl
atio
n i.e
. T
ax,
FIC
A,
etc.
)
Des
crib
e th
e im
port
ance
of
cons
ider
ing
all
dem
ogra
phic
and
fin
anci
al i
nfor
mat
ion
on m
edic
al
sche
mes
. in
clud
ing
but
not
limite
d to
sol
venc
y ra
tio.
aver
age
age.
pen
Sio
ners
rat
io.
size
of t
he
sche
mes
, G
EM
S p
rofil
e, e
tc.
Pro
vide
a g
ener
al o
verv
iew
of t
he i
ndus
try
and
an
y is
sues
that
are
cur
rent
ly im
pact
ing
on t
he
med
ical
sch
emes
. -~
.... I'll
(I) Z
a Vl ..... ~
-l'>
Ci) o < m
II
Z s: m
z -I
Ci) ~ m
::j m
.... f.1l o ~ o OJ
m
II 8
OJ
96
KN
OW
LE
DG
E C
RIT
ER
IA
SK
ILL
CR
ITE
RIA
ap
plic
atio
n f
orm
fro
m a
F
acili
tate
a
pers
pect
ive.
Mu
st h
ave
an
un
de
rsta
nd
ing
of
the
fina
nci
ng
of
b
oth
cu
rre
nt
an
d d
efe
rre
d h
ealth
co
sts
and
the
m
eth
od
of
de
live
ry.
Th
ey
sho
uld
als
o b
e a
ble
to
th
ose
co
nte
mp
ora
ry is
sues
wh
ich
are
lik
ely
to
ha
ve a
n im
pa
ct o
n t
he
em
plo
yer
an
d
ind
ivid
ua
l.
Exp
lain
wh
y si
gn
atu
res
are
req
uire
d.
Re
vie
w a
pp
lica
tion
fo
rms
for
acc
ura
cy,
, co
mp
lete
ne
ss,
etc.
I-;:;E
c-x-p;
-Ia-:-jn-
---:-;-t
h-e-a-
d-:-m
--:-in--
=-is-:
t-ra-:t-
;-iv-e-
:f:-u-n
-ct:C-
io-n-s
-r-e71a
-:t-e-
:d-:-to
--:-:th
-e--t
-=A-
d;-;-vi
se
the
me-m
-bc-e-
r-a-n-
d--:-:-
I-or-b
:-r-o
-'-k-e
-r-o-=
-f-cth
-e--
----
i
ap
plic
atio
n f
orm
.
De
scri
be
th
e r
eco
rd k
ee
pin
g r
eq
uir
em
en
ts in
te
rms
of
FIC
A a
nd
FA
IS.
Exp
lain
th
e i
nte
rna
l st
ruct
ure
of
the
ad
min
istr
ato
r o
f th
e m
ed
ica
l sc
he
me
.
De
scri
be
wh
at
typ
e o
f ch
an
ge
s th
e co
nsu
me
r ca
n m
ake
to t
he c
ou
nte
r o
ffe
r le
tter
re
ceiv
ed
fro
m t
he
m
ed
ica
l sc
he
me
.
'I"
Exp
lain
th
e r
eg
ula
tion
s I r
ules
re
ga
rdin
g
com
ple
ting
ap
plic
atio
n f
orm
s on
be
ha
lf o
f co
nsu
me
rs.
me
mb
ers
hip
su
spe
nsi
on
or
term
ina
tion
.
Pro
vid
e
to
con
sum
er
com
ple
ting
the
ap
plic
atio
n f
orm
.
Re
tain
co
pie
s o
f th
e a
pplic
atio
n, f
iling
th
e
ap
plic
atio
n (
ele
ctro
nic
or
hard
co
py
form
at)
in
term
s o
f F
AIS
an
d F
ICA
re
qu
ire
me
nts
.
Fo
rwa
rd t
he a
pp
lica
tion
fo
rm t
o th
e n
ew
bu
sin
ess
d
ep
art
me
nt
of t
he m
ed
ica
l sc
he
me
.
Re
ceiv
e t
he
co
un
ter
off
er
lett
er I
acc
ep
tan
ce l
ett
er
from
th
e m
ed
ica
l sch
em
e.
[Exp
lain
t=-=
h-=e
-'--p
-r-o-
c-es
-s-o
f-=-.-
re--=
-fu-n
-d-:-
i-ng-
a-c-
-Ia-i:-
m-.-
----II
P
rese
nt
the
co
un
ter
off
er
lett
er I
acc
ep
tan
ce l
ett
er
De
scri
be
th
e c
on
dit
ion
s u
nd
er
wh
ich
th
e
me
mb
ers
hip
of
a m
em
be
r ca
n be
su
spe
nd
ed
te
rmin
ate
d.
Exp
lain
th
e i
mp
ort
an
ce o
f a
dvi
sin
g t
he m
em
be
r I
and
the
bro
ker
of
the
su
spe
nsi
on
.
to t
he
co
nsu
me
r.
Exp
lain
wh
at t
ype
of
am
en
dm
en
ts t
he
co
nsu
me
r is
en
title
d to
ma
ke to
the
co
un
ter
off
er
lett
er.
and
the
imp
lica
tion
s o
f th
ese
ch
an
ge
s.
Ma
ke c
ha
ng
es
as r
eq
uir
ed
by
the
co
nsu
me
r.
(j) ~ ~ (j) 6 m
lJ » z _-1
01 3 o CD m
lJ
II.l g 00 z o W
.....
01
.....
..j:>. .... II.l
-.j
lJ7
N0.1
TA
SK
I
KN
OW
LE
DG
E C
RIT
ER
IA
SK
ILL
CR
ITE
RIA
l~XPlaln th
e pr
oces
ses
Invo
lved
with
cha
ngin
g O
btai
n th
e si
gnat
ure
of th
e co
nsum
er.
bene
fit o
ptio
ns a
nd t
he a
dditi
on I
with
draw
al a
nd
I re
sign
atio
n of
mem
bers
I be
nefic
iarie
s or
.
de2~ndants.
_ ._
-rr--··~··--·
--
10.
. C
olle
ct c
omm
issi
on f
rom
the
E
xpla
in t
he r
equi
rem
ents
tha
t sh
ould
be
met
by
Col
lect
com
mis
sion
on
cond
ition
tha
t th
e br
oker
is
med
ical
sch
eme.
th
e br
oker
in o
rder
to
colle
ct c
omm
issi
on.
licen
sed
as a
n F
SP
and
acc
redi
ted
by th
e C
ounc
il of
Med
ical
Sch
emes
and
mus
t hav
e a
cont
ract
in
pla
ce w
ith t
he M
edic
al S
chem
e.
Des
crib
e th
e pr
oces
s to
col
lect
the
brok
er
Col
lect
com
mis
sion
in a
ccor
danc
e to
the
bro
ker
com
mis
sion
from
the
med
ical
sch
eme.
a
gre
em
en
t E
xpla
in t
he t
ax im
plic
atio
ns fo
r th
e br
oker
whe
n C
olle
ct c
omm
issi
on in
acc
orda
nce
to th
e re
leva
nt
rece
ivin
g co
mm
issi
on in
acc
orda
nce
to t
he
proc
ess
that
app
lies
the
brok
er.
rele
vant
tax
law
s.
Exp
lain
the
impo
rtan
ce o
f the
bro
ker
code
C
onfir
m w
ith t
he C
ounc
il o
f M
edic
al S
chem
es t
hat
allo
cate
d by
the
med
ical
sch
eme
for
colle
ctio
n of
th
e br
oker
's a
ccre
dita
tion
is c
urre
nt.
~ommission p
urpo
ses.
E
xpla
in t
he c
onfid
entia
lity
of t
he c
onsu
mer
det
ails
lin
ked
to t
he b
roke
r co
de.
Exp
lain
the
bro
ker
com
mis
sion
str
uctu
re in
ac
cord
ance
to
the
Med
ical
Sch
emes
Act
.
11.
Col
lect
adv
isor
y fe
e fr
om t
he
Exp
lain
the
dis
clos
ure
requ
irem
ents
as
it re
late
s O
btai
n th
e si
gnat
ure
from
the
con
sum
er fo
r th
e co
nsum
er.
to a
dditi
onal
adv
isor
y fe
es t
hat
mig
ht b
e pa
ymen
t of t
he a
dvis
ory
fee.
re
cove
red
from
the
con
sum
er.
]Exp
lain
the
pa
yme
nt
optio
ns a
vaila
ble
to t
he
Issu
e in
voic
es to
the
co
nsu
me
r in
ter
ms
of a
gree
d I c
onsu
mer
in o
rder
to r
ecov
er t
he a
dvis
ory
fee.
fe
e.
Exp
lain
tha
t no
inte
rest
ma
y be
cha
rged
unl
ess
Adv
isin
g th
e co
nsum
er o
f th
e br
oker
's b
anki
ng
the
brok
er is
reg
iste
red
with
the
NC
R.
deta
ils.
Exp
lain
the
impo
rtan
ce o
f ob
tain
ing
an a
gree
men
t in
writ
ing
from
the
con
sum
er th
at a
n ad
viso
ry fe
e w
ill b
e co
llect
ed.
12.
Pro
cess
the
mem
bers
hip
App
licab
le to
ne
w b
usin
ess
depa
rtm
ent
and
unde
rwrit
ing
depa
rtm
ent:
,._
. ._
I I I I I I I
~
U1
..... !
... ~ z o w
.....
U1
.....
./>0
G) ~ m
:II
Z s: m
z -I
G) ~ 9
!11
U1
o ~
OJ
m
:II
I\l o o ell
G) o 'P .... o II:)
.....
w
~ T
AS
K
f--
Iapp
licat
ion
form
fro
m a
med
ical
I
sche
me
pers
pect
ive.
w
.....
01
13.
Reso
lv'ln
g m
edica
l sch
eme
quer
ies
in a
bro
ker
envi
ronm
ent.
!
98
I··· K
NO
WL
ED
GE
CR
ITE
RIA
r
SK
ILL
CR
ITE
RIA
I
IExp
lain
the
adm
inis
trat
ive
fun
ctio
ns
rela
ted
to IR
efer
bac
k to
the
bro
ker/
mem
ber
for
com
plet
ion
(if I
I a
pplic
atio
n fo
rm.
n:e
d to
be
com
plet
ed.)
I
i D
escr
ibe
the
reco
rd k
eepi
ng r
equi
rem
ents
in
Ret
ain
copi
es o
f th
e ap
plic
atio
n, f
Iling
the
!
I te
rms
of F
ICA
and
FA
IS.
appl
icat
ion
(ele
ctro
nic
or h
ard
copy
for
mat
) in
I
~
term
s o
f F
AIS
and
FIC
A re
ui
rem
ents
. i
Exp
lain
the
int
erna
l str
uctu
re o
f the
adm
inis
trat
or
Dra
ft a
coun
ter
offe
r le
tter
/ ac
cept
ance
lette
r to
I
of th
e m
edic
al s
chem
e.
the
me
mb
er
whe
re a
pplic
able
.
· D
escr
ibe
wha
t typ
e of
cha
nges
the
con
sum
er c
an
I Sen
d th
e co
unte
r of
fer
lette
r / a
ccep
tanc
e le
tter
to
mak
e to
the
cou
nter
off
er le
tter
rece
ived
fro
m t
he
the
brok
er a
nd /
or
the
mem
ber.
I i
med
ical
sch
eme.
E
xpla
in t
he r
egul
atio
ns /
rule
s re
gard
ing
the
cons
umer
. co
mpl
etin
g ap
plic
atio
n fo
rms
on b
ehal
f of
co
nsum
ers.
E
xpla
in t
he i
nter
nal
med
ical
sch
eme
proc
ess
invo
lved
whe
n re
ceiv
ing
an a
men
ded
coun
ter
offe
r le
tter
/ ac
cept
ance
lette
r fr
om t
he b
roke
r I
cons
umer
. Ap
plica
b-':,l
---e-
:-to-
o-nc
-ly-u
-n-d
7e-r-
w-'ri;
-C;ti-
n-g-
-cde
partm
entW
lthin
a m
edic
al s
chem
e:
t--E
xpla
in t
he
int e
rnal
m ed
ical
sch
em e
pro
cess
Re
ceive
--CCt
h-e-
am-e
-n-:d
-e-cd
-c-o-
u-nc
-te-r-
o-;C
ff;-e-
r71e-
Ctc
-te-
r--;
'----
-l in
volv
ed w
hen
rece
ivin
g an
am
ende
d co
unte
r ac
cept
ance
lette
r fr
om t
he b
roke
r' m
em
be
r w
here
of
fer
lette
r I a
ccep
tanc
e le
tter
from
the
bro
ker I
appl
icab
le.
cons
umer
. A
naly
se t
he a
men
dmen
t(s)
mad
e b
y th
e m
em
be
r in
ord
er to
acc
ept,
revi
se o
r de
clin
e th
e ~~mb~~rs~h~ipL'~
__
__
__
__
__
__
_~
__
__
__~
Dra
ft th
e up
date
d le
tter
of a
ccep
tanc
e /
coun
ter
offe
r le
tter
to t
he m
embe
r.
(Rev
ert
to p
roce
ss a
bove
.)
Obt
ain
cons
ent t
o ac
t on
beha
lf of
the
mem
ber.
Obt
ain
cons
ent
from
the
em
ploy
er g
roup
to a
ct o
n
Exp
lain
the
prod
uct s
peci
fic fe
atur
es a
nd b
enef
its.
lEx~
a;ii
!he p
mdu
c! s
pec;
,;c r
ules
. be
half
of th
eir
empl
oyee
s .
(f) ~
'-
l (f
) A o m
Jl » z ;-
I
01 o ~ o OJ
m
Jl
II:)
8 co z o W
01 .... ~ .....
I\) '"
NO
.
14.
l)l)
TASK
K
NO
WL
ED
GE
CR
ITE
RIA
S
KIL
L C
RIT
ER
IA
l D
esc
rib
e t
he
Me
dic
al
Sch
em
e r
ules
. C
on
sid
er
all t
he
gu
ide
line
s pu
blis
hed
by
the
I
Me
dic
al S
che
me
Cou
ncil.
LOes
-c-r7.
"ib-e-
t7h-e-
:MC-
::-e-:-d
:-ic-a-
:-1S-
;::-ch
:-e-m
-e-s-t
r-u-cC
-tu-r-
e-s-.-
---+-
A-=-
-c-:t
-a-s
-m-e
-:dc-
ia--:-
to-r-
:b=-
e-:t-
w-e-
e-n-
:t-=-
-h-e
-c-o
-n-s
-um
-e-r-
a-n-
:d-:-
t:-h-
e----
-l
De
scri
be
the
Me
dic
al
Sch
em
e p
roto
cols
.
De
scri
be
the
Me
dic
al
sch
em
es
Act
/ re
gula
tion
I a
me
nd
me
nts
/ ci
rcul
ars
and
sch
em
e r
ules
tha
t sh
ou
ld b
e ta
ken
in
to c
on
sid
era
tion
wh
en
res
olvi
ng
a m
ed
ica
l sc
he
me
qu
ery
in a
bro
ker
en
viro
nm
en
t.
me
dic
al
sch
em
e u
ntil
it's
reso
lved
.
Co
mm
un
ica
te /
ed
uca
te a
nd a
ssis
t th
e m
em
be
r w
ith a
pp
rop
ria
te a
nd
acc
ura
te in
form
atio
n.
Co
mp
ly w
ith b
roke
r co
de
of c
on
du
ct o
n M
ed
ica
l C
ounc
il's
web
site
.
I P
rovi
de a
ge
ne
ral
ove
rvie
w o
f th
e in
du
stry
and
P
rovi
de f
ee
db
ack
to
the
me
mb
er
in t
erm
s o
f I
an
y is
sues
th
at
are
cu
rre
ntly
imp
act
ing
on
the
com
pla
int
/ q
ue
ry r
esol
utio
n (in
te
rms
of t
he
bro
ker
me
dic
al s
che
me
s.
cOcJ
e o
f con
duct
.)
Pro
vide
an
ove
rvie
w o
f th
e m
ost
rec
ent
in
form
atio
n f
rom
the
Ass
oci
atio
ns
and
Bro
ker
o
rga
nis
atio
ns.
~
....
.
Pro
vid
e a
n o
verv
iew
of
the
ICD
10,
pro
ced
ure
and
p
rovi
de
r co
de
s a
nd
wha
t th
ey
are
use
d f
or
and
wh
ere
it
is o
bta
ine
d f
rom
(ob
tain
ed f
rom
th
e
I Co
un
cil
circ
ular
s) t
o p
rove
aw
are
ne
ss o
f the
se
code
s.
-1
Exp
lain
to
the
me
mb
er
the
dis
pute
re
solu
tion
p
roce
ss a
nd t
he
ro
le o
f th
e C
ounc
il fo
r M
ed
ica
l . S
che
me
s in
th
is p
roce
ss.
I R
esol
ving
me
dic
al
sch
em
e
qu
eri
es
in a
me
dic
al
sch
em
e
nvi
ron
me
nt.
Exp
lain
th
e p
rod
uct
spe
cific
fea
ture
s a
nd
ben
efits
. C
on
sid
er
all t
he
gu
ide
line
s pu
blis
hed
by
the
M
ed
ica
l S
che
me
Cou
ncil.
Exp
lain
th
e p
rod
uct
sp
eci
fic r
ules
.
De
scri
be
th
e M
ed
ica
l S
che
me
rul
es.
Co
nsi
de
r m
ost
re
cen
t in
tern
al c
om
mu
nic
atio
n w
ith
re,g
arcj
s to
ea
l'me
nt
of
clai
ms.
C
om
mu
nic
ate
/ e
du
cate
an
d a
ssis
t th
e m
em
be
r o
r b
roke
r w
ith a
pp
rop
ria
te a
nd a
ccu
rate
in
form
atio
n.
De
scri
be
th
e M
ed
ica
l S
che
me
str
uctu
res.
E
xpla
in t
o th
e m
em
be
r th
e di
sput
e re
solu
tion
pr
oces
s a
nd
th
e r
ole
of t
he
Cou
ncil
for
Me
dic
al
Sch
em
es
in t
his
pro
cess
. "-
Des
crib
e th
e M
ed
ica
l S
che
me
pro
toco
ls.
... w
o z !=l
Ul .... (]J
.j>. Q o < m
::D z s:: m
z -I
Q ~ S
Jl1
(]
J o ~ o tIl m
::D
f\) o o (Xl
------
----
--
TA
SKI··
·..... 10
0
KN
OW
LE
DG
E C
RIT
ER
IA
__
-\.I
from
::..:...
...._
__
__
__
__
__
__
__
_-l
i D
escr
ibe
the
proc
ess
to f
ollo
w w
hen
deal
ing
with
and
paym
ent
of
Des
crib
e th
e M
edic
al S
chem
es A
ct /
regu
latio
n am
endm
ents
/ c
ircul
ars
and
sche
me
rule
s th
at
shou
ld b
e ta
ken
into
con
side
ratio
n w
hen
reso
lvin
g I a
med
ical
sch
eme
quer
y in
a b
roke
r en
viro
nmen
t.
Pro
vide
a g
ener
al o
verv
iew
of t
he i
ndus
try
i an
y is
sues
tha
t ar
e cu
rren
tly im
oact
inq
on t
he
med
ical
sch
emes
. E
xpla
in t
he d
ispu
te r
esol
utio
n pr
oces
s.
Des
crib
e th
e pr
oces
s fo
r re
ceiv
ing
and
proc
essi
ng
a cl
aim
acc
ordi
ng t
o th
e ru
les
of t
he s
chem
e.
Exp
lain
wha
t in
form
atio
n sh
ould
be
incl
uded
in
the
clai
m.
Onl
y ap
plic
able
to t
he m
edic
al s
chem
e:
i E
xpla
in t
he p
ract
ice
code
s an
d th
e ro
le t
he c
odes
pl
ay in
pro
cess
ing
a cl
aim
suc
cess
fully
.
Des
crib
e th
e IC
D 1
0 pr
oced
ure
Exp
lain
wha
t the
pro
vide
r co
des
are.
D
escr
ibe
wha
t the
oro
vide
r co
des
are
used
for.
Exp
lain
whe
re t
he p
rovi
der
code
s ar
e ob
tain
ed
SK
ILL
CR
ITE
RIA
Ana
lyse
the
cla
ims
base
d on
cla
im i
nfor
mat
ion
prov
ided
, in
clud
ing
but n
ot li
mite
d to
the
bene
fits,
su
ffici
ent
MS
A a
vaila
bilit
y, e
ligib
ility
of
prov
ider
to
bill
for
a sp
ecifi
c pr
oced
ure,
sub
-lim
its,
dupl
icat
ion,
st
atem
ent
date
, m
embe
r be
nefic
iary
sta
tus,
etc
. P
roce
ss t
he p
aym
ent
to t
he m
embe
r w
ithin
the
pr
escr
ibed
ben
efit
optio
n lim
it an
d w
ithin
30
days
.
Con
tact
the
med
ical
sch
eme
and
advi
se th
em t
hat
disp
uted
cla
ims.
a
com
plai
nt w
ill b
e lo
dged
with
the
dis
pute
s I .
com
mitt
ee.
t··_
··
Exp
lain
how
a c
ompl
aint
sho
uld
be l
odge
d ag
ains
t A
ct a
s m
edia
tor
betw
een
the
cons
umer
and
the
a
serv
ice
prov
ider
or
sche
me
on t
he C
ounc
il m
edic
al s
chem
e un
til i
t's r
esol
ved.
w
ebsi
te.
Des
crib
e th
e lim
itatio
ns o
f the
pla
n op
tions
.
incl
ude
excl
usio
ns,
sel1
pay
men
t ga
p, t
hres
hold
s,
: et
c.
Com
mun
icat
e to
the
mem
ber
the
outc
ome
of th
e di
sput
es c
omm
ittee
.
(j) ~ ~ (j) is m
:D ~ :-I
O'l o ~
OJ
m
:D
N
o o OJ z (,.)
~
O'l .....
.j>. .... (,
.) .... 9
101
.NO.
!_ T
AS
K
KN
OW
LE
DG
E C
RIT
ER
IA
Und
erst
andi
ng o
f the
med
ical
sch
emes
str
uctu
re
and
the
com
plai
nts
proc
edur
es.
I D
escr
ibe
the
Med
ical
sch
em
es
Act
/ r
egul
atio
n /
amen
dmen
ts /
circ
ular
s an
d sc
hem
e ru
les
that
sh
ould
be
take
n in
to c
onsi
dera
tion
whe
n re
solv
ing
a m
edic
al s
chem
e qu
ery
in a
bro
ker
envi
ronm
ent.
I E
xpla
in t
he p
rod
uct
spe
cific
feat
ures
and
ben
efits
.
i E
xpla
in t
he p
rodu
ct s
peci
fic r
ules
.
Des
crib
e th
e M
edic
al S
che
me
rul
es.
Exp
lain
the
im
port
ance
of
me
mb
er
entit
lem
ent t
o be
nefit
s o
f pr
escr
ibed
min
imum
ben
efits
.
rDe
scri
be
the
Med
ical
Sch
em
e s
truc
ture
s.
Des
crib
e th
e M
edic
al S
che
me
pro
toco
ls.
17.
Des
crib
e he
alth
care
cov
er in
.
Gen
eral
to a
l/:
Sou
th A
fric
a.
Exp
lain
the
rol
e an
d fu
nctio
n o
f the
diff
eren
t st
ake
hold
ers
in t
he m
edic
al s
che
me
env
ironm
ent.
List
the
pen
ding
leg
isla
tion
affe
ctin
g th
e S
A
heal
thca
re e
nvir
onm
ent.
Des
crib
e th
e m
odel
med
ical
sch
eme
rule
s an
d po
ssib
le a
men
dmen
ts.
CO
escr
ibe
the
cha
nges
to
the
bene
fit s
truc
ture
s an
d op
tions
.
Whe
n ca
ll ce
ntre
age
nts
sell
med
ical
aid
:
\ D
iffer
entia
te b
etw
een
insu
ranc
e co
ver
and
med
ical
sch
eme
cove
r {a
dvan
tage
s an
d
I
tdisa
dvan
tage
s) .
Applica~/e to
bro
kers
onl
y:
SK
ILL
CR
ITE
RIA
Adv
ise
the
con
sum
er
on h
ow to
lod
ge a
com
plai
nt
agai
nst t
he
Med
ical
Sch
eme.
Ass
ist t
he
co
nsu
me
r in
pre
pari
ng h
is/h
er c
ase
to
be h
eard
by
the
disp
utes
com
mitt
ee.
Adv
isin
g th
e m
em
be
r of
his
/her
rig
hts
and
resp
onsi
bilit
ies.
Iden
tify
the
var
ious
sta
keho
lder
s in
the
med
ical
sc
he
me
env
ironm
ent.
Iden
tify
pend
ing
legi
slat
ion
affe
ctin
g th
e S
A
heal
th ca
re e
nvir
onm
ent.
Co
mp
are
a m
edic
al s
chem
e ru
les
with
the
mod
el
rule
s as
pub
lishe
d by
the
Cou
ncil
for
Med
ical
S
che
me
s an
d an
alys
e a
ny
sign
ifica
nt d
iffer
ence
s.
Exp
lain
the
diff
eren
ce b
etw
een
insu
ran
ce c
over
an
d m
edic
al s
che
me
cov
er (
adva
ntag
es a
nd
disa
dvan
tage
s) t
o th
e m
embe
r.
I
..... ~ z ~ w
.....
01
-' ~
Gl ~ m
:0
z s: m
z -I ~
m
~ 111
.....
01
o ~
to
m
:0
III g
TA
SK
I
KN
OW
LE
DG
E C
RIT
ER
IA
Diff
eren
tiate
bet
wee
n in
sura
nce
cove
r an
d
med
ical
sch
eme
cove
r (a
dvan
tage
s an
d
disa
dvan
ta
es .
E
xpla
in t
he d
iffer
ent
stak
ehol
ders
(ad
min
istr
ator
s,
Reg
ulat
ors,
med
ical
sch
emes
, bo
ard
of t
rust
ees,
of
ficer
)'---
n D
escr
ibe
the
hist
ory
envi
ronm
ent.
SK
ILL
CR
ITE
RIA
I Exp
lain
the
diff
eren
ce b
etw
een
insu
ranc
e co
ver
' an
d m
edic
al s
chem
e co
ver
(adv
anta
ges
and
disa
dvan
tage
s) t
o th
e m
embe
r.
Exp
lain
the
hea
lthca
re e
nvir
onm
ent
in S
A
incl
udin
g pu
blic
and
priv
ate
sect
or in
ter
ms
of t
he
adva
ntag
esan
~~cl
isad
vant
Cl,g
E:!.
? of
bo!~:
Exp
lain
the
evo
lutio
n o
f the
med
ical
sch
em
es
indu
stry
sin
ce 1
998.
Ul ~
~
(f) A o m
lJ » z .:-l
(J1 o ~
IJ
l m
JJ
t\l o o co z ? w
(J1 .... ./>. .... Co)
Co)
' FA
IS A
ct "
I' A
ll kn
ow/e
dge
req
uir
em
en
ts a
bove
.
I A
ll kn
owle
dge
requ
irem
ents
abo
ve.
18,
I Des
crib
e-th
e cor
nplime
ntar~
...
, I
legi
slat
"i,o,
n af
fect
ing
the
Hea
lth
I I Car
eenv~i
r~o~n~
m~e~n~
t~,_
_~~
__
__+,~~
19,
I Ong
oing
co
nsu
me
r ed
ucat
ion
afte
r m
embe
rshi
p -
note
tha
t th
is t
ask
mu
st b
e la
st b
ecau
se
ALL
the
kno
wle
dge
appl
ies
to
this
tas
k 20
. I O
ngoin
g--a-C
d-m---C
in--ci
-s-tr-a
---CtiY
-e' f
unct
ion
note
tha
t thi
s ta
sk m
ust
be
last
be
caus
e A
LL
the
kno
wle
dg
e
aool
ies
to t
his
task
----
103
Se
ctio
n 1
3:
RE
13
: S
eco
nd
Le
vel
Re
gu
lato
ry E
xam
ina
tio
n:
Pe
nsi
on
Be
ne
fit
Fu
nd
s
(1 )
All
repr
esen
tativ
es p
erf
orm
ing
fin
anci
al s
ervi
ces
in r
elat
ion
to c
ate
go
ry I
dea
ling
with
the
sub
cate
gori
es P
en
sio
n B
enef
it ar
e re
quire
d to
co
mpl
ete
a fir
st l
evel
re
gu
lato
ry e
xam
inat
ion,
bas
ed o
n th
e q
ualif
ying
cri
teri
a as
it
ap
pe
ars
in
Sec
tion
4 an
d a
seco
nd l
evel
reg
ulat
ory
exam
inat
ion
base
d on
the
qua
lifyi
ng c
rite
ria
in S
ectio
n 13
. (2
)
Exa
min
atio
n b
od
ies
have
th
e d
iscr
etio
na
ry p
ower
s to
off
er a
com
bina
tion
exam
inat
ion
for
repr
esen
tativ
es w
orki
ng w
ith c
ateg
ory
I, de
alin
g w
ith t
he s
ub
cate
go
rie
s P
en
sio
n B
en
efit
Fun
ds,
wh
ere
suc
h re
pres
enta
tives
ma
y ch
oose
to
com
plet
e on
e e
xam
ina
tion
th
at
ad
dre
sse
s th
e qu
alify
ing
crite
ria
as
it a
pp
ea
rs in
Sec
tions
4 a
nd 1
3.
(3)
T
he
qua
lifyi
ng c
rite
ria
in
Sec
tion
4 an
d S
ectio
n 13
se
rve
as
the
crite
ria
agai
nst
whi
ch q
ualif
icat
ions
will
be
eval
uate
d fo
r in
clus
ion
on t
he
list
of
reco
gnis
ed q
ualif
icat
ions
.
... ~ z o w
.... c.n
+> (j) ~ m
::n T
AS
K
KN
OW
LE
DG
E C
RIT
ER
IAN
O.
SK
ILL
CR
ITE
RIA
I
Con
sulta
nt-
an
aly
se t
he c
urr
en
t K
no
w a
nd u
nd
ers
tan
d t
he P
ensi
on F
unds
Act
. K
eep
reco
rds
of c
om
mu
nic
atio
n t
o th
e cl
ient
d
ata
re
tirem
ent
prov
isio
ns.
whi
ch l
eads
to r
ecom
men
datio
n.
!
I Kn
ow
and
un
de
rsta
nd
the
im
plic
atio
ns o
f Tax
D
ete
rmin
e th
e cl
ient
's n
eeds
and
lim
itatio
ns.
,
Str
uctu
res,
in
the
Inco
me
Ta
x A
ct,
and
the
impl
icat
ion
the
reo
f on
Re
tire
me
nt
Fun
ds.
Kn
ow
and
un
de
rsta
nd
the
Lon
g T
erm
Ins
uran
ce
An
aly
se t
he l
egal
ity in
clud
ing
rule
s, s
ervi
ce
Act
as
it ap
plie
s to
Re
tire
me
nt
Fun
ds.
pro
vid
er
/em
plo
yme
nt
con
tra
cts
(adm
in,
actu
ary,
co
nsul
tant
s, i
nves
tmen
ts)
and
polic
ies.
-H
ave
an
un
de
rsta
nd
ing
of
Inve
stm
ents
. S
um
ma
rise
cur
rent
pos
ition
of
retir
emen
t po
sitio
n.
Kn
ow
and
un
de
rsta
nd
FA
IS L
egis
latio
n.
-~onceptualise a
pp
rop
ria
te s
olut
ions
.
Bro
ad c
ompa
riso
n o
f fin
anci
al s
tate
me
nts
to
Fun
d ac
tivity
. K
no
w t
ypes
of
Pro
duct
s a
nd
Ser
vice
Pro
vide
rs.
Ass
ess
rea
sona
bilit
y o
f F
und
finan
cial
s.
ap
plie
s to
Re
tire
me
nt
Fun
ds.
Kn
ow
and
un
de
rsta
nd
FIC
A L
egis
latio
n as
it
La
bo
ur
Rel
atio
ns A
ct-
pro
mis
e to
em
ploy
ee.
Bas
ic u
nd
ers
tan
din
g o
f F
inan
cial
Sta
tem
ents
.
Res
earc
h in
dust
ry tr
ends
. .
2.
Kn
ow
and
un
de
rsta
nd
Em
plo
yee
Ben
efit
Indu
stry
tr
ends
. \
Fo
rmu
late
a p
rop
osa
l/s .
Ob
tain
ing
and
int
erpr
etin
g qu
otat
ions
. I
Kn
ow
typ
es o
f P
rod
uct
s a
nd
Ser
vice
Pro
vide
rs.
Rec
ord
keep
ing
of q
uo
tatio
n r
eque
st a
nd
qu
otat
ions
rec
eive
d.
Kno
w a
nd u
nd
ers
tan
d F
AtS
Leg
isla
tion.
z s::: m
z ..., (j) fej g m
(j\ o ~
OJ
m ::n § tv
---
104
KN
OW
LE
DG
E C
RIT
ER
IA
NO.!
TA
SK
Und
erst
and
retir
emen
t an
d ris
k be
nefit
str
uctu
res.
Pre
sent
the
pro
posa
l/s t
o th
e U
nder
stan
d th
e ro
les
of
key
play
ers
of
the
clie
nt.
3.
Em
ploy
ee B
enef
its i
ndus
try,
and
of
a F
und
· 4
.
Impl
emen
t yo
ur p
ropo
sal.
U
nder
stan
d al
l co
ntra
ctua
l re
quire
men
ts a
nd
proc
esse
s in
im
plem
entin
g th
e pr
opos
al:
Und
erst
and
and
inte
rpre
t the
rul
es o
f a
· · re
tirem
ent
fund
; U
nder
stan
d co
ntra
ctua
l ob
ligat
ions
and
op
erat
iona
l re
quire
men
ts;
Bas
ic le
gisl
ativ
e re
quire
men
ts o
f the
Pen
sion
SK
ILL
CR
ITE
RIA
! Alig
n pr
opos
al t
o cl
ient
s ne
eds.
Exp
lain
key
rol
e pl
ayer
s an
d th
eir
func
tions
in
a
Ret
irem
ent
Fun
d.
Exp
lain
im
plic
atio
ns o
f you
r pr
opos
al.
Exp
lain
the
dut
ies
oftr
ust
ee
s in
SA
.
Set
up
cont
ract
s w
ith c
lient
to
impl
emen
t the
fun
d:
· Lo
ad t
he F
und
rule
s co
rrec
tiy;
• U
ploa
d pa
ram
eter
s of
all
rele
vant
con
trac
ts;
• U
ploa
d m
em
be
r da
ta;
• M
aint
ain
mon
thly
pro
cess
es o
n sy
stem
; •
O
ngoi
ng o
f m
atch
ing
of A
sset
s an
d Li
abili
ties
of
a F
und.
fu
nd a
nd I
ncom
e ta
x •
Bas
ic R
etir
emen
t F
und
Acc
ount
ing
know
ledg
e.
~--
Kno
w a
nd u
nder
stan
d co
mm
unic
atio
n re
quire
men
ts t
o m
embe
rs o
f a
Fun
d.
--
-----:-
App
oint
ser
vice
pro
vide
r/s
and
conf
irm
/ se
t up
all
rele
vant
con
trac
ts.
Und
erst
and
the
capa
bilit
ies
of a
dmin
istr
atio
n sy
stem
. M
anag
e im
plem
enta
tion
proc
ess
of y
our
prop
osal
.
5.
Com
mun
icat
e w
ith m
embe
rs.
Kno
w a
nd u
nder
stan
d th
e P
ensi
on F
und
Act
and
re
late
d re
gula
tions
: •
Kno
wle
dge
of t
he P
ensi
ons
Fun
d A
ct in
ter
ms
of m
em
be
r co
mm
unic
atio
n.
Det
erm
ine
the
appr
opri
ate
met
hod
for
me
mb
er
com
mun
icat
ion.
Com
mun
icat
e re
gula
tory
and
rel
evan
t fu
nd s
pe
cifi
C
info
rmat
ion
to m
embe
rs.
6.
Mai
ntai
n, M
onito
r an
d R
evie
w
of R
etire
men
t F
und
prov
isio
ns.
Kno
w a
nd u
nder
stan
d yo
ur c
ontr
actu
al
requ
irem
ents
and
rel
evan
t le
gisl
atio
n.
~,------------
Man
age
me
mb
er
licat
ion
proc
ess:
.
Ens
ure
that
mem
ber
com
mun
icat
ion
plan
is
incl
uded
in a
nnua
l el
an.
Ens
ure
and
plan
tha
t an
nual
pro
cess
es a
re
com
plet
ed t
imeo
usly
.
Und
erst
and
the
impl
icat
ions
of l
egis
lativ
e tim
e
i fra
mes
.
Mai
ntai
n cl
ient
rel
atio
nshi
(J) ~ @
/\ a m
JJ
» z .:-i
Q1 a ~
OJ
m
JJ
N o o Q) z ? w ... Q1 ... -I'> ..... ~
tus
NO
. T
AS
K
KN
OW
LE
DG
E C
RIT
ER
IA
Kee
p up
date
d w
ith c
lient
ser
vice
pro
visi
ons
and
legi
slat
ive
chan
ges
and
envi
ronm
ent.
Und
erst
and
annu
al p
roce
sses
of a
fund
(in
c!.
finan
cial
sta
tem
ents
and
rev
iew
s, r
enew
als
of
polic
ies,
fid
elity
pol
icy,
and
mem
ber
com
mun
icat
ion)
. U
nder
stan
d F
und
valu
atio
ns.
Kno
w a
nd u
nder
stan
d th
e de
liver
able
s o
f co
ntra
cts.
7.
I P
roce
ss a
Pa
rtia
l/ F
ull
Kno
w a
nd u
nder
stan
d th
e pr
oces
s an
d tim
e ,
Ter
min
atio
n /
Tra
nsf
er
of
a fr
ames
inv
olve
d in
the
ter
min
atio
n /
tran
sfer
of a
F
und.
fu
nd.
Kno
w a
nd u
nder
stan
d le
galit
ies
of t
erm
inat
ing
/ tr
ansf
errin
g o
f a
fund
. (la
bour
rel
atio
ns a
nd P
FA
).
Und
erst
and
the
proc
ess
of t
rans
ferr
ing
a F
und
from
one
adm
inis
trat
or to
ano
ther
.
8.
Dea
l w
ith R
etir
emen
t F
und
Und
erst
and
of t
he t
ypes
of
clai
ms
and
bene
fits.
C
laim
s.
~..
Kno
w a
nd u
nder
stan
d th
e im
plic
atio
ns o
f In
com
e T
ax A
ct a
nd P
FA
and
rel
evan
t re
gula
tions
.
Und
erst
and
the
proc
esse
s of
Ser
vice
Pro
vide
r/so
Und
erst
and
legi
slat
ive
impa
ct o
f D
ivor
ces,
M
aint
enan
ce,
child
ren
cust
omar
y un
ion;
Tru
sts
as
it ap
plie
s to
Ret
irem
ent
Fun
ds.
9.
Dea
l w
ith R
etir
emen
t F
und
Und
erst
and
the
role
pla
yers
in A
sset
Man
agem
ent.
Inve
stm
ents
. K
now
and
und
erst
and
appr
opria
te A
sset
te
rmin
olog
y.
L---.....
SK
ILL
CR
ITE
RIA
Rec
ord
keep
ing
of a
nnua
l pro
cess
es:
. E
ffect
ann
ual
revi
ews
and
rene
wal
s;
. U
pdat
e an
nual
pla
n in
acc
orda
nce
with
le
gisl
ativ
e ch
ange
s.
Rev
iew
con
trac
ts a
nd f
und
docu
men
tatio
n to
en
sure
lega
lity,
app
ropr
iate
ness
and
pra
ctic
al
impl
emen
tatio
n.
Exp
lain
im
plic
atio
ns o
f ter
min
atio
n /
tran
sfer
of
a fu
nd.
Fac
ilita
te a
nd t
he t
erm
inat
ion
/tra
nsfe
r of
a fu
nd.
Rec
ord
keep
ing
of t
erm
inat
ion/
tran
sfer
do
cum
ents
. P
roce
ss a
term
inat
ion
/ tr
ansf
er e
ffect
ivel
y.
Pro
vide
adv
ice
on l
egis
lativ
e im
plic
atio
ns o
n cl
aim
s.
Pro
cess
cla
ims
and
effe
ct o
rder
s.
Kee
p re
cord
s of
pay
men
ts a
nd o
rder
s pr
oces
sed
and
supp
ortin
g do
cum
ents
. C
omm
unic
ate
the
paym
ents
to
rele
vant
par
ties.
Fac
ilita
te a
n in
vest
men
t st
rate
gy.
Mon
itor
inve
stm
ent p
erfo
rman
ce a
gain
st th
e
benc
hmar
ks a
nd r
epor
t on
per
form
ance
to
the
trus
tees
.
... ~ z !:l w
.....
U1 ..... .. G) o <
m
JJ z s: m
z -I
G) ~ 9
J11
U1
o (1
-I o OJ
m
II
N o o CD
--
-----
-----
------
I
106
T,
KN
OW
LE
DG
E C
RIT
ER
iA
SK
ILL
CR
ITE
RIA
U
nder
stan
d re
leva
nt r
egul
atio
ns a
s th
ey a
pply
to
Pro
cess
inve
stm
ent
inst
ruct
ions
l,;u
r r I
:::l,;
UY
and
In
vest
men
ts.
Not
ice
perio
ds f
or
inve
stm
ents
and
dis
-inve
stm
ent.
Und
erst
and
inve
stm
ent
inst
ruct
ions
rel
atin
g to
the
st
rate
gy a
nd a
d-ho
c in
stru
ctio
ns.
Hav
e a
basi
c un
ders
tand
ing
of
inve
stm
ent
serv
ice
i pr
ovid
er r
equi
rem
ents
and
clie
nt's
req
uire
men
ts.
H;
basi
c un
ders
tand
ing
of r
elev
ant
inve
stm
ent
term
inol
ogy.
Und
erst
andi
ng o
f ru
les
as i
t rel
ates
to
inve
stm
ents
.
----
l...
10.
Dea
l w
ith m
em
be
r -ie
s.
Und
erst
and
FA
IS l
egis
latio
n an
d di
sclo
sure
s.
Th
e a
bilit
y to
diff
eren
tiate
bet
wee
n fa
ctua
l in
form
atio
n an
d ad
vice
. U
nder
stan
d th
e F
AIS
lim
itatio
ns o
f yo
ur li
cens
e R
efer
que
ries
to a
ppro
pria
te r
ole
play
ers.
an
d yo
ur F
AIS
reg
ulat
ory
stat
us.
Kno
w a
nd u
nder
stan
d th
e le
gal f
ram
ewor
k st
ated
ab
ove.
Kno
w a
nd u
nder
stan
d th
e co
mp
an
y pr
oced
ures
ar
ound
mem
ber
quer
ies.
Iden
tify
whe
n to
obt
ain
auth
oris
atio
n to
rel
ease
co
nfid
entia
l in
form
atio
n.
(f) ~
~ :A
o m
JJ » z :-l
(Jl o ~
CD
m
JJ
N
o o Ol z !J (.i)
(Jl ..... ~ .... ~
Se
ctio
n 1
4 R
E 1
4:
Se
con
d L
eve
l R
eg
ula
tory
Exa
min
ati
on
: L
on
g T
erm
In
sura
nce
Ca
teg
ory
A:F
AB
(1 )
All
repr
esen
tativ
es p
erfo
rmin
g fin
anci
al s
ervi
ces
in r
elat
ion
to c
ateg
ory
I de
alin
g w
ith t
he s
ubca
tego
ry L
ong
Ter
m I
nsur
ance
Cat
egor
y A
FA
B a
re r
equi
red
to c
ompl
ete
a fir
st l
evel
reg
ulat
ory
exam
inat
ion,
bas
ed o
n th
e qu
alify
ing
crite
ria a
s it
appe
ars
in S
ectio
n 4
and
a se
cond
leve
l reg
ulat
ory
exam
inat
ion
base
d on
the
qua
lifyi
ng c
riter
ia in
Sec
tion
14.
(2)
E
xam
inat
ion
bodi
es h
ave
the
disc
retio
nary
pow
ers
to o
ffer
a c
ombi
natio
n ex
amin
atio
n fo
r re
pres
enta
tives
wor
king
with
cat
egor
y I,
deal
ing
with
the
sub
cate
gory
Lon
g T
erm
Ins
uran
ce C
ateg
ory
A:F
AB
, w
here
suc
h re
pres
enta
tives
may
cho
ose
to c
ompl
ete
one
exam
inat
ion
that
ad
dres
ses
the
qual
ifyin
g cr
iteria
as
it ap
pear
s in
Sec
tions
4 a
nd 1
4.
(3)
The
qua
lifyi
ng c
riter
ia i
n S
ectio
n 4
and
Sec
tion
14 s
erve
as
the
crite
ria a
gain
st w
hich
qua
lific
atio
ns w
ill b
e ev
alua
ted
for
incl
usio
n on
the
lis
t of
rec
ogni
sed
qual
ifica
tions
.
NO
. T
AS
K
KN
OW
LE
DG
E C
RIT
ER
IA
SK
ILL
CR
ITE
RIA
1 .
Exp
lain
why
a c
usto
mer
(in
divi
dual
! gr
oup)
wou
ld w
ant
to c
onsi
der
fune
ral
insu
ranc
e co
ver.
Exp
lain
the
pro
duct
s fe
atur
es a
nd b
enef
its o
f a
spec
ific
prod
uct,
incl
uded
but
not
lim
ited
to:
. th
e lim
its o
f co
ver;
~.
who
can
be
cove
red
unde
r th
e Q
oli9
'. E
xpla
in th
e pr
oduc
t ru
les,
inc
ludi
ng b
ut n
ot li
mite
d to
the
app
licab
le w
aitin
g pe
riods
. D
escr
ibe
the
excl
usio
ns a
nd r
ules
and
reg
ulat
ions
o
f th
e pr
oduc
t. .
Exp
lain
wha
t is
cov
ered
in
the
polic
y.
Exp
lain
whe
n th
e po
licy
will
pa
you
t.
Exp
lain
the
def
initi
on o
f "ex
clus
ion"
. N
ame
the
excl
usio
ns in
the
eve
nt o
f cer
tain
pre
de
fined
cov
ers.
Und
erst
and
the
wai
ting
perio
ds a
nd w
hen
it ap
plie
s.
Un
de
rsta
nd
the
limits
rel
atin
g to
who
is c
over
ed,
legi
slat
ive
ages
.
Par
amet
ers
of t
he p
rodu
ct,
fam
ily d
epen
dant
s th
at
can
be c
over
ed,
child
ren,
spo
use,
und
er th
e pr
edef
ined
pol
icy
para
met
ers.
.~.--.
---~~-.
.....
t.J
co z o w
.....
U't .....
.j:> G) ~ m
JJ z ~
m
z -i
G) ~ g
.!11
U't § o OJ
m
:::0
N g co
-----------------
---------- -
------
--------
NO
. T
AS
K
KN
OW
LE
DG
E C
RIT
ER
IA
SK
ILL
CR
ITE
RIA
I I U
nder
stan
d th
e di
ffer
ent t
ypes
of
grou
ps a
nd l
egal
/ fc
on
tra
ctu
al r
eq
uir
em
en
ts!
limita
tions
.
Und
erst
and
lega
l! co
ntra
ctua
l obl
igat
ion
rega
rdin
g I
prem
ium
s an
d w
hen
cove
r fa
lls a
way
. I IE
xpla
in t
o a
grou
p w
hat
they
can
do
rega
rdin
g th
e fu
nera
l co
ver
& p
olic
ies
with
the
ir m
embe
rs.
.f---
---
Exp
lain
wha
t ha
ppen
s if
mon
thly
pre
miu
m i
s no
t K
eep
copi
es o
f the
fun
eral
ins
uran
ce p
olic
ies
sold
! I f
uner
al i
nsur
ance
pol
icie
s.
121K
eep
reco
rds
as i
t re
late
s to
pa
id b
y th
e cl
ient
. is
sued
,
Des
crib
e w
hy a
su
mm
ary
of t
he p
olic
y do
cum
ent
Pro
vide
the
clie
nt w
ith a
sum
mar
y of
the
pol
icy
shou
ld b
e pr
ovid
ed t
o th
e cl
ient
. do
cum
ent.
3,
Dea
l with
a c
laim
as
it re
late
s E
xpla
in t
he i
mpo
rtan
ce f
or a
ccur
ate
clie
nt c
onta
ct
to f
uner
al i
nsur
ance
pol
icie
s.
deta
ils to
be
incl
uded
on
the
fune
ral
insu
ranc
e
I po
licy
reco
rds.
c---
-c;- Exp
lain
the
cla
ims
proc
edur
es,
:ilita
te th
e pr
oces
s.
Exp
lain
wha
t re
cord
s m
ust
be
kept
rel
ated
to
the
Kee
p re
cord
s of
the
cla
im p
roce
ss in
acc
orda
nce
clai
ms
proc
edur
e,
with
FA
IS.
Exp
lain
who
to
cont
act a
fter
the
deat
h r t
he
insu
red
pers
on.
Exp
lain
wh
at t
he t
imef
ram
e is
for
con
tact
ing
the
re
quire
d ro
le p
laye
rs a
fter
the
deat
h of
the
insu
red
pe
rson
, 4,
D
escr
ibe
the
rela
tions
hip
Iden
tify
the
role
-pla
yers
invo
lved
with
in t
he f
uner
al
betw
een
the
role
-pla
yers
in
sura
nce
envi
ronm
ent.
w
ithin
the
fun
eral
ins
uran
ce
Exp
lain
the
rol
e of
the
und
erw
rite
r in
clud
ed b
ut n
ot
polic
y en
viro
nmen
t. F
SP
, th
e lim
ited
to:
unde
rwrit
er a
nd th
e cl
ient
. •
thei
r fu
nctio
n (r
espo
nsib
ility
);
. w
hat t
he
y do
reg
ardi
ng r
isk
to t
he b
usin
ess
and
! th
e cl
ient
.
(J) ~
'-i
(J
) is m
:u :t> z .:-i
t.i1 o ~
OJ
m :u I\
) g CD z !J (,) ~ .,. ... til
IQ
... .j).
0 z ? w
10
9 I~
-"
.j).
r---
.T
AS
K
KN
OW
LE
DG
E C
RIT
ER
IA
SK
ILL
CR
ITE
RIA
~---
~N°'I
IE
xpla
in w
hen
a po
licy
will
be
legi
timat
e (v
alid
).
Exp
lain
wha
t the
cus
tom
er s
houl
d be
aw
are
of a
nd
stay
aw
ay fr
om (
un
reg
iste
red
! un
licen
sed
oeer
ator
s.)
5.
Des
crib
e th
e ro
le o
f the
Life
E
xpla
in t
he r
ole
of t
he L
ife O
mbu
dsm
an.
Om
buds
man
. I I [E
XP
lain
ho
w th
e L
ITe
Om
bu
dsm
an
de
als
with
a
com
plai
nt.
. E
xpla
in w
hat
the
com
plai
nt p
roce
ss is
, in
clud
ed b
ut
not
limite
d to
: •
How
a c
ompl
aint
is l
odge
d;
• W
here
a c
ompl
aint
sho
uld
be lo
dged
.
Gl o < m
lJ
z ~ m
z -I
Gl ~ 9 .fIl
(.11 o ()
-I o OJ m
lJ
N 8 CD
110
An
ne
xure
2:
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ctio
n 1
: Q
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lific
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ate
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lific
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Fin
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12
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2116
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