“Where can I find free learning resources for the MPF mandatory provident fund scheme examination/MPF intermediary examination?”

May 17, 2023

“What is MPF?”
The Mandatory Provident Fund Schemes (abbreviated as MPF), is a retirement protection plan in Hong Kong. The Legislative Council of Hong Kong passed the “Mandatory Provident Fund Schemes Ordinance” on July 27, 1995, and officially implemented it on December 1, 2000. Except for a few exempt individuals, the scheme requires employees and self-employed persons aged 18 to 65 in Hong Kong to participate, with both employers and employees contributing to establish the fund. Generally, employees can only withdraw contributions when they reach 65 years old or provide special reasons.

What is a Mandatory Provident Fund Intermediary?

Mandatory Provident Fund Intermediaries (abbreviated as MPF Intermediaries), refers to professionals engaged in MPF business in Hong Kong. They are mainly responsible for assisting employers and employees in choosing, transferring, and claiming MPF schemes, providing professional advice to clients, and ensuring that clients comply with relevant regulations.

In Hong Kong, anyone must first register with the Mandatory Provident Fund Schemes Authority (MPFA, abbreviated as MPFA) to become an MPF intermediary before they can engage in MPF sales and promotional activities. MPF intermediaries are divided into two categories: principal intermediaries and subsidiary intermediaries. Principal intermediaries usually refer to companies or banks, while the individual MPF salespersons we usually understand are representatives of the principal intermediaries and belong to subsidiary intermediaries (hereinafter referred to as MPF Intermediaries (Subsidiary)). The registration information of MPF intermediaries can be confirmed in the public register of the MPFA.

Who can become a Mandatory Provident Fund (MPF) intermediary?

The Mandatory Provident Fund Schemes Authority (MPFA) is authorized to register the following individuals as MPF intermediaries if they meet relevant regulations, to approve them as principal intermediaries for regulated activities:

  • Individual persons who are licensed by the Securities and Futures Commission to conduct Type 1 regulated activity (dealing in securities) or Type 4 regulated activity (advising on securities) under the Securities and Futures Ordinance, or both;
  • Individual persons who are registered by the Monetary Authority to conduct Type 1 regulated activity (dealing in securities) or Type 4 regulated activity (advising on securities) under the Banking Ordinance, or both;
  • Licensed individual long term business insurance agents, insurance broker companies or representatives under the Insurance Ordinance authorized by the Insurance Authority.

How to become an MPF intermediary?

According to the “MPF Intermediary Registration Handbook,” to register as an MPF intermediary (subsidiary), applicants:

1.Must be regulated by the industry and have a good reputation, i.e., not have their industry qualifications or MPF intermediary registration revoked/suspended for disciplinary reasons within a year preceding the application date;

2.Must not have lost the qualification to register with the MPFA;

3.Must belong to a principal intermediary;

4.Must take and pass the MPFA’s qualifying examination.

When is it necessary to take the MPF Intermediary Qualifying Examination?

Individuals applying to become MPF intermediaries must pass the MPF Intermediary Qualifying Examination to meet registration requirements. The specific situations are as follows:

  • New applicants must take and pass the examination within a year before registering as an MPF intermediary.
  • If applicants who have passed the exam have not registered as MPF intermediaries within three years preceding the application date, they must retake and pass the exam to re-register.
  • If MPF intermediaries have their registration revoked due to non-completion of continuous training, they must retake and pass the exam to re-register.

Where can you take the MPF Intermediary Qualifying Examination?

The “Mandatory Provident Fund Schemes Examination” offered by the Peak of the Vocational Training Council (VTC) and the “MPF Intermediary Examination” offered by the Hong Kong Securities and Investment Institute (HKSI) are both qualifying examinations designated by the MPFA. Those who pass the exam will be recognized as meeting the examination requirements for MPF intermediaries.

The scope of both examinations includes the following contents:

Regulatory framework;

Key features of the MPF system;

Functions of the MPF trustee;

MPF schemes and investments;

Transitional arrangements between occupational retirement schemes and the MPF system; and

Regulation of MPF intermediaries.

The “Mandatory Provident Fund Schemes Examination” by the Peak of the Vocational Training Council (VTC) includes a written test and a computer test, while the “MPF Intermediary Examination” by the Hong Kong Securities and Investment Institute (HKSI) only provides a written test.

Exam format: Multiple-choice questions

Question language: Bilingual in Chinese and English

Number of questions: 80 questions

Exam duration: 2 hours

Exam fee: Computer-based test $370; Written test $305

Exam results: “Pass” or “Fail”.

The passing score is 70%, and candidates must answer correctly 56 questions to pass the examination.

The exam result notification does not show specific scores and will not disclose the questions and their correct answers.

The registration link for the “Mandatory Provident Fund Schemes Examination” by the Peak of the Vocational Training Council (VTC) is as follows:

https://www.peak.edu.hk/exam/econline/zh/mode/mpfe

The registration link for the “MPF Intermediary Examination” by the Hong Kong Securities and Investment Institute (HKSI) is as follows:

https://oes.hksi.org/enrol/listActivity?activity_type=X&category=MPF%20Intermediaries%20Examination

How to get the result notification?

For candidates taking the “Mandatory Provident Fund Schemes Examination” at the Peak of the Vocational Training Council (VTC) Examination Centre:

Written test results:

Can be viewed, downloaded, and printed from the “Exam Results Inquiry” system on the examination center’s webpage, starting from the fifth complete working day after the exam.

Computer test results:

They will be displayed on the computer screen immediately after the exam. The exam results displayed on the screen are for reference only and are subject to the results printed on the result notification. Candidates can download and print the result notification from the “Exam Results Inquiry” system on the examination center’s webpage, starting one hour after the designated end time of the exam.

The examination center does not provide printed copies of the result notification. Exam results and result notifications will be stored in the “Exam Results Inquiry” system for three months (counting from the exam date).

Candidates who have taken the “MPF Intermediary Examination” written test at the Hong Kong Securities and Investment Institute can check their exam results on the HKSI e-service website about seven working days after the exam. The exam result notification will be retained for 1 year for candidates to download and print.

Where to find study materials for the MPF Intermediary Qualification Examination?

1.Official Study Manual

The Mandatory Provident Fund Schemes Authority (MPFA) has compiled the “Mandatory Provident Fund Schemes/MPF Intermediaries Examination Study Manual” to assist candidates in preparing for the examination, which can be downloaded for free from the MPFA website.

Link to free download of the MPFA “Mandatory Provident Fund Schemes/MPF Intermediaries Examination Study Manual”: https://www.mpfa.org.hk/-/media/files/supervision/mpf-intermediaries/registration-requirements/study_notes_9th_chi_v3.pdf 

2.Free Tutorial Videos

Bilibili: https://www.bilibili.com/video/BV18t411e7Ff/?vd_source=d4cdb4b41821c08c5020dac2c8422d92 

YouTube:

3.Free Practice Questions

It should be noted that the study manual for the MPF Intermediaries Examination is 196 pages long and the scope of the examination is quite broad. Our short-term memory may not be reliable, and rote memorization may make it difficult to remember so many unprocessed concepts. There’s a good chance that by the time you’ve finished the entire book, you’ve already forgotten most of the first half. Moreover, the questions drawn for each exam are not exactly the same, and there’s a great deal of luck involved.

Therefore, when preparing for the IIQE examination, you should ensure that you have a thorough understanding of the exam outline and requirements, formulate a suitable study plan, and actively participate in mock exams to improve your examination skills.

Hence, our recommended study method is:

Read a chapter of the study manual/free tutorial video first.

Complete a chapter’s worth of practice questions.

Reinforce your understanding and memory of the knowledge by repeating this process.

Finally, we wish you success in your exam!

How can we help?

2CExam provides HKSI LE, IIQE, EAQE and SQE related exam preparation materials. We sell mock question banks for HKSI LE Papers 1, 2, 3, 5, 6, 7, 8, 9, 12 in Chinese and English; and bibles for HKSI LE Papers 1, 2, 6, 7, 8 in Chinese. We also offer 1 on 1 tutorial services. Besides, we have also made free tutorial videos for HKSI LE Papers 1, 2, 6, 7, 8, 12 and posted on public channels such as Youtube/ Bilibili/ Tencent/ Iqiyi. 2CExam has been an exam training expert for years. Should you need any help please visit www.2cexam.com or contact us through:

Phone +852 2110 9644 Email: [email protected] Wechat: hk2cexam WhatsApp: +852 9347 2064

Please support us by leaving comments and likes if you think this article helps you!

You can scan or click on the QR codes to visit our social media.

Latest Article

Categories

過往文章

Contact US

Interesting Articles

How do Chinese who don’t understand Traditional Chinese deal with the HKSI LE? How to use Simplified Chinese to partake in the exam?

January 6, 2022

  Some mainlanders will ask whether our products or real exams have Simplified Chinese. First of all, the HKSI exam conducted in Mainland China will have the option of printed in simplified characters, while the Hong Kong exam will only have traditional Chinese and English.   As for the review materials, the documents for the…

Suggested revision method – applicable to HKSI LE securities exam, IIQE insurance exam, EAQE/ SQE real estate exam

November 30, 2021

We suggest the candidate prepare for the examination by the following steps: 1. Study 1 chapter in the study manual 2. Finish the relevant topic in the Pass Paper Question Bank By spending 20-25 hours doing the revision, about 80% of our candidates can pass the exam in their first attempt.

HKSI LE Securities Exam Info For Dummies

September 23, 2021

  HKSI LE Securities Exam Info For Dummies What papers should I take   The differences between a SFC Responsible Officer (RO), HKMA Executive Officer (EO) and a Sale Representative (Rep) https://2cexam.com.hk/a1061_eng/   Which paper I should take: https://2cexam.com.hk/A1064_eng/   Waiving LE Papers 7-12: https://2cexam.com.hk/A1015_eng/   FAQ about exemption: https://2cexam.com.hk/A1018_eng/   Exam Registration   Registration…

Why do so many people choose 2CExam’s products and video classes?

September 17, 2021

2CExam is excellent at preparing candidates for professional examinations. Why do so many people choose 2CExam’s products and watch 2CExam’s video classes?     2CExam provides a large number of Youtube video classes, including HKSI LE Papers 1, 2, 6, 7, 8, 12 Chinese courses, HKSI LE Paper 1 English courses, IIQE Papers 1, 2,…

What are bibles offered by 2CExam? Are there any questions included?

September 15, 2021

Do bibles include practise questions? Bible and Pass Paper Question Bank are two separate products. “Bible” is composed by us according to HKSI’s study manual and does not consist of any mock questions. It is a study note available in Chinese only as of now. “Pass Paper Question Bank” includes questions prepared by us, with…

How are mock questions written by 2CExam? Are the questions past paper questions? What are the specialties and advantages of 2CExam’s question banks?

September 14, 2021

How are mock questions written by 2CExam? Are the questions past paper questions? Due to intellectual property issues, 2CExam mock questions are not copied from the past papers, but composed by their own editors. The questions are different from the questions you are going to see in the actual exam. If they bear any resemblance…

How Do You Get a Refund If You Bought 2CExam’s Products and Failed the Exam?

September 10, 2021

There’s a money-back guarantee for 2CExam’s products? 100% full refund? Do they really refund? Absolutely we do refund. We only make promises that we can keep. As long as candidates follow the instructions on the terms and conditions of Money-back Guarantee, we offer 100% full refund. Why are we so confident? It is because based…

What Are the Differences Between 2CExam’s Physical Version and Online Version Question Bank? Same Content? Which One Is Better?

September 9, 2021

  2CExam has been training people for the HKSI Licensing Examination (LE), IIQE, EAQE and SQE for many years. Recently, an online version of the pass paper mock question banks was released. What are the differences between the online version and physical version?   What are the differences between online and hard copy versions? Contents…

How to Use 2CExam Pass Paper / Mock Question Banks?

September 8, 2021

Do you need to take the HKSI LE securities exam / IIQE insurance exam / EAQE, SQE real estate exam? Are you upset about how to stuff the considerable knowledge into your brain? 2CExam is here to help! Our motto is “Despise Learning, Secure Passing!” Our company provides various exam related products and solutions which…

Can Top Up Degree be exempted from HKSI LE securities examination? Can I be exempted without previously studied finance?

September 7, 2021

  The Guidelines on Competence of the SFC specify that as long as students meet the specified level of academic qualifications and/or work experience, they can be exempted and do not need to take the HKSI LE Securities Examination Papers 7-12. Exempted students only need to take the HKSI LE paper 1, which saves time,…