FAQs (Updated on Dec 29,
2017)
General
1. What
is the Enhanced Competency Framework?
2. Is
it mandatory for private wealth management practitioners to obtain ECF
certification?
3. Which organization is
considered a PWM institution? Does PWMA has a list of such institution?
Relevant
Practitioners
1. To
whom is the ECF applied to?
2. How
does one determine whether the individual is considered as a Relevant
Practitioner for the purpose of ECF?
3. Will
the ECF apply to individuals who work on temporary basis in Hong Kong?
4. Is wealth advisor / trust specialist covered under ECF?
One-off
Exemption (Grandfathering)
1. What is this one-off exemption?
2. What relevant experience would be
counted in the 10 years?
3. What is the coverage of other customer-facing
functions in the financial service industry?
4. How does the Relevant Practitioner
know if he / she is eligible for exemption?
5. How does one complete the Module 2 requirement?
6. When will the courses and examinations be
available for the “grandfathered” Relevant Practitioners?
7. Is leave counted for grandfathering
if the employee continues to work in the institution?
8. If an applicant has 10 years relevant
experience but had left the industry, is he/she eligible for grandfathering?
9. Is there any application fee?
10. Is there a
cut-off date for applying for the grandfathering eligibility?
11. Would overseas work experience be recognized for
grandfathering application?
12. Does PWMA accept batch submission of
the application forms from its members?
13. What is the use of self-declaration
form for grandfathering application?
14. Where can we obtain the
self-declaration form?
15. How to fill in the details of
employment history on the application form for Grandfathering if
self-declaration forms are used?
CPWP
Certification
1. What
are the criteria for applying for CPWP certification under the examination
route?
2. How
does one get the CPWP certification?
3. Is the
CPWP certification available to all Relevant Practitioners in the market?
4. What are
the prerequisite work experience?
5. If
I previously worked overseas, will these working experiences be considered
relevant?
6. Is there any application fee?
7. If a relevant practitioner only has
one year of relevant experience, can he/she sit for the Module Exams?
CPWP Certification Renewal and On-going
Professional Training (OPT)
1. What are the OPT requirements?
2. What if I fail to meet the annual OPT
requirements?
3. When a qualified practitioner changes job and moves to
a non-PWMA institution after being certified, would the individual be able to
maintain his/her CPWP status after expiry?
4. What are the types of activities that
will qualify for the OPT?
5. If
I work for another company within a calendar year, what should I do with the
OPT hours I have previously earned?
6. Is
OPT hours cumulative?
7. Are there any fees for annual renewal
of CPWP certification?
8. How long does it take to process the
application for the CPWP Certification Renewal?
9. Does OPT requirement for the CPWP Certificate
Renewal run on calendar year?
10. Is it mandatory to attach documents
when submitting Application for CPWP Certification Renewal?
11. If there is a change of job or
industry, and/or personal information, shall I inform PWMA?
12. Is there any deadline for CPWP Certification
renewal?
13. Does OPT requirement needs to be met on an
anniversary basis?
Training
Programmes and Examinations
1. What
are the requirements of the ECF?
2. Where
are the training programmes and examinations available?
3. Where can we find the training schedule and examination schedule
for both Module 1 and Module 2?
4. How
much are the programmes and examinations charged by the HKSI and HKIB,
respectively?
5. How
many times can one take the examinations?
6. Could
a Relevant Practitioner take the accredited examinations directly without
attending the programmes?
7. When
is the Chinese version of the ECF modules available?
Administration
of the ECF
1. What is the role of the Private Wealth
Management Association in the ECF?
2. Will
the Relevant Practitioner receive any document to certify that he/she is CPWP
certified by the PWMA?
3. Is
the ECF a duplication of my existing qualifications?
4. If
I am holding certain professional qualification (e.g. CFA, FRM, CGA, CPA, CIWM,
etc.), would the professional qualification be eligible for exemption?