Examination & Awards
The Financial Services Act 2013 (FSA) and Islamic Financial Services Act 2013 (IFSA) which came into force on 30 June 2013 integrated several separate laws to govern the financial sector under a single legislative framework for the conventional and Islamic financial sectors respectively.
The following Acts have since been repealed with the FSA and IFSA being in place:
- Banking and Financial Institutions Act (1989) (BAFIA);
- Islamic Banking Act 1983;
- Insurance Act 1996;
- Takaful Act 1984;
- Payment Systems Act 2003; and
- Exchange Control Act 1953.
All study materials will be updated accordingly in due course.
On this note, we wish to advise that examination questions relating to the above-mentioned repealed Acts will no longer be examined from August 2013 onwards and questions on the FSA and IFSA will only be examinable commencing January 2014.
AMENDMENTS TO THE EXAMINATION REFUND POLICY
Amendments have been made to the AICB Examination Fees Refund Policy. Please note that the module fee and examination fee are non-refundable and non-transferrable except in the most extenuating circumstances. Candidates are advised to assess their readiness and make a firm decision before they register for the module and examination.
The key changes are as follows:
1) A candidate who has withdrawn or is absent from an examination will not be entitled to any refund of the module fee or examination fee paid or to carry forward the fee to the next examination sitting.
2) However, the Institute may consider allowing a one-time transfer of the examination fee to the immediate next sitting in the case of a candidate who encounters extenuating circumstances. The module fee is not transferable
3) Candidates who wish to claim extenuating circumstances are required to submit the completed Extenuating Circumstances Form and supporting documents, to the Head of Assessment:
- In the case of applications for a transfer of the examination fee no later than ten (10) working days from the date of the examination
- In the case of applications for additional attempts or an extension of time to complete a module/examination, no later than ten (10) working days from the release of the related examination results.
Kindly note that candidates should only enrol and register for their selected module and exam date once they are firm with their decision on their preferred module and exam date.
All applications for the extenuating circumstances must be accompanied by the application form as well as the necessary supporting documents.
The latest version of the Examinations Regulations containing the amendments can be downloaded below.
Prior to the examination sitting, we will publish the list of examination centres in our website under the Examinations and Award tab.
A candidate who has withdrawn or is absent from an examination will not be entitled to any refund of the module fee or examination fee paid or to carry forward the fee to the next examination sitting.
The Institute may consider allowing a one-time transfer of the examination fee to the immediate next sitting in the case of a candidate who encounters extenuating circumstances. The module fee is not transferable.
Candidates who wish to claim extenuating circumstances are required to submit the completed Extenuating Circumstances Form and supporting documents, to the Director of Assessment no later than ten (10) working days from the date of the examination concerned.
Electronic copy of the attendance notice will be sent to the candidates by email and/or viewable online by the respective candidate about 10 days before the examination date. Candidate will NOT be allowed to sit for the examination without the NRIC. Verification will be done using NRIC/driving license/passport or other acceptable identification documents with photo.
No. At the end of the examination, all examination materials must be handed over to the invigilator. None of the examination materials are allowed to be taken from the examination hall/room.
AICB’s exam papers go through a rigorous quality assurance process as we ensure that each paper accurately tests the learning outcomes of a module. Examination papers are set within the scope of our study texts and goes through various checks by our Examination Committee to ensure that all exam items meet optimum face validity, content and structural validity before candidates sit for the exam.
Once the examination is completed, the candidates’ answer scripts for multiple-choice questions are processed by the Assessment Division and for the subjective questions, marked by the Examination Committee. The results are then deliberated by the Examination Committee who moderate the questions based on the performance of the candidates to ensure that the results are true reflection of the candidates’ performance and that no candidate is disadvantaged.
The decision of the Board of Examiners in regard to a candidate’s examination results is final and no appeals will be entertained.
The Institute’s policy is that the results are based on the grade bands. We will not entertain any requests to release the actual marks for the exams which are kept confidential.
PKMC and IPPC FAQs
Yes, 2 years. A candidate must pass all four modules within 6 consecutive examination sittings (1 exam cycle) failing which the passes gained in the exam cycle will be nullified. The candidate will then be required to immediately start a new exam cycle without any lapse.
No, FMAM membership is sufficient. All new members who pass the examinations in its entirely or who are existing FMAM Ordinary members (a prerequisite for trading in the Malaysian financial markets) will be granted a dual membership in both FMAM and AICB.