Frequently Asked Questions
SIPs – CAR / CKA
What is Customer Knowledge Assessment (CKA) and Customer Account Review (CAR)?
What are Specified Investment Products (SIPs)?
Who will be exempted from CAR/CKA?
Do I have to go through CAR or CKA modules and SGX Online Education on SIPs if I want to trade in only selected products? Is it compulsory?
Do I need to open a separate account to trade SIPs?
How do I know if a counter is a SIP?
With counters being labelled as “@”, does it affect my trading?
Where can I find more information about SIPs?
How do I submit the CAR and CKA Assessment?
What is the validity period if I qualify for CKA and CAR?
How can I be considered to have the relevant knowledge and experience to trade Specified Investment Products?
What happens if I do not meet any of the assessment criteria?
How should I proceed after completing the E-learning for CKA (CFD)?
Is there any cost attached to the CAR or CKA module and SGX Online Education on SIP?
Can I go through SGX Online Education on SIPs even if I do not wish to invest or if my broker has assessed that I can already trade in SIPs?
What do I need to do if I fail the SGX Online Education but still wish to trade or continue trading in listed SIPs?
What are Excluded Investment Products (EIPs)?
If I did not pass the CAR, can I trade foreign shares that are classified as EIP?
What about joint account holders? Do both account holders have to complete the CAR/ CKA assessment?
I already have an existing Phillip Securities account. Do I have to go through the CAR/ CKA assessment again if I open another account with Phillip Securities?
If I have already gone through the CAR/ CKA with another broking firm, do I have to go through the assessment with Phillip Securities to trade SIPs?
Can retail customers who have previously been assessed to have relevant knowledge or experience in derivatives and/or unlisted SIPs (i.e. they passed the CAR and/or CKA) request for financial advice?
Can I satisfy the assessment if I have previous trading experience (>6 trades) with other broking houses?
Is my Trading Representative qualified to trade SIPs? How does it affect me?