What SCI M9 Covers
The SCI M9 exam tests your knowledge of life insurance and investment-linked policies in Singapore. This closed-book, self-study exam features 100 multiple-choice questions, a 2-hour time limit, and a passing score of 70%. No negative marking. Study materials are provided as eBooks, and the exam is administered on a computer screen in English. This guide covers all official topics, including risk and life insurance, premium setting, life product classification, traditional life policies, riders, participating policies, investment-linked policies (ILPs), sub-funds, computational aspects, annuities, underwriting, policy services, claims, insurance contract law, agency, income tax implications, nominations, and wills and trusts.
| Exam point | Official SCI detail |
|---|---|
| Questions | 100 multiple-choice questions |
| Duration | 2 hours |
| Passing grade | 70 percent |
| Mode | English computer screen examination |
Frequently Tested Exam Concepts
Risk and Life Insurance Principles
Understand insurable interest, utmost good faith, indemnity, and risk pooling. Learn how life insurance addresses mortality, longevity, and morbidity risks. Key to grasping the foundation of policy design.
Premium Setting
Master the mathematics of net and gross premiums, including mortality tables, interest rates, expenses, and loading. Comprehend how premiums are calculated for different policy types and the impact of assumptions.
Life Insurance Product Classification
Distinguish between term, whole life, endowment, and universal life. Recognize the features, benefits, and target markets for each class. Essential for advising clients and answering exam scenarios.
Traditional Life and Riders
Study traditional participating and non-participating policies. Learn common riders like critical illness, disability, and accidental death. Understand how riders enhance coverage and affect premiums.
Participating Policies
Focus on how bonuses (reversionary, terminal) are declared and allocated. Grasp the concept of the participating fund, smoothing, and policyholder reasonable expectations. A heavily tested topic.
Investment-Linked Policies (ILPs) and Sub-Funds
Delve into ILP structure: unit pricing, bid-offer spread, and charges. Explore sub-fund types (equity, bond, balanced) and risk profiling. Know the regulatory requirements and disclosure norms in Singapore.
Annuities and Computational Aspects
Calculate annuity payouts using present value concepts. Differentiate between immediate and deferred, fixed and variable annuities. Apply mortality and interest assumptions to solve numerical questions.
Underwriting, Claims, and Policy Services
Review the underwriting process: medical and financial underwriting, ratings, and exclusions. Study claims procedures for maturity, death, and riders. Cover policy alterations, loans, surrenders, and reinstatements.
How to Study Efficiently
Use the SCI eBook and current notices as the authority, then use Ace CMFAS practice to test recall, timing, and explanation quality. Practice questions help most after you have read the official material once.
- Start with the official eBook: Skim all chapters, highlight key definitions and formulas, and note frequently tested areas like ILPs and underwriting.
- Deep dive into calculations: Practice premium setting, annuity valuations, and ILP unit pricing. Use past exam questions to reinforce arithmetic.
- Master product features: Create comparison tables for term, whole life, endowment, ILPs, and riders. Understand surrender values, non-forfeiture options, and tax implications.
- Review legal and regulatory aspects: Focus on insurance contract principles, agency law, nominations, wills, trusts, and income tax treatment of policy benefits.
- Simulate exam conditions: Take full-length timed practice tests. Aim for 70% consistently. Review mistakes and revisit weak areas. No negative marking so attempt all questions.
Official Materials and Practice
Always confirm current study-text updates, registration rules, and examination policies on the official SCI pages. Ace CMFAS practice questions are original revision tools and do not replace official SCI materials or confidential exam content.