Frequently Asked Questions
SIPs – CAR / CKA
What happens if I do not meet any of the assessment criteria?
If you do not meet any of the CAR & CKA assessment criteria, you may sit for the online E-learning module:(A) For Listed SIPs:
If you fail the online CAR Assessment, please complete the SGX Online Education on listed SIP and inform your Trading Representative upon your completion of the course;
Remember to list Phillip Securities as your main brokerage partner when you fill in the Customer Account Review (CAR) online declaration on SGX website. This will allow Phillip Securities to access your CAR result from SGX.
If you have passed CAR by completing the SGX learning module prior to 15 Jan 2015, you are encouraged to re-take the SGX learning module if you have not transacted in listed SIPs more than once during that 3-year period, and do not satisfy any other criteria for the assessment of CAR.
Upon the expiry of CAR, you are also encouraged to go through the SGX learning module again if you have not met any of the CAR assessment criteria.(B) For Unlisted SIPs:
If you fail the CKA Assessment, please complete the online education on unlisted SIP and inform your Trading Representative upon your completion of the course.
Do note that you may sell your holdings or close your existing position even if you have not passed CKA (CFDs) and CKA (UT).
Other faq that might help you
- 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?
- 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 brokerage houses?
- Is my Trading Representative qualified to trade SIPs? How does it affect me?
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