Unit Trust Scheme Consultant (UTS Consultant)

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“Unit Trust Scheme Consultant” or “UTS Consultant” means an individual who is duly registered with the Federation of Investment Managers Malaysia to market and distribute UTS .

Registration of UTS Consultant

Eligibility for registration of UTS Consultant

Any person who meets the following requirements is eligible to register as a Unit Trust Scheme Consultant (UTS Consultant):

  • Must be 21 years old or above;
  • Must obtain credits in any three (3) subjects in SPM or equivalent or academic qualitification (s) higher than SPM;
  • Must be fit and proper;
  • The person must sign a statutory declaration attesting to the above attributes and must not be in breach of the signed statutory declaration at all times.
  • Upon satisfying the requirements, the person must pass the Computerised Unit Trust Examination (CUTE) before being authorised to market and distribute UTS. A person who does not satisfy the basic requirements will not be registered to sit for the CUTE.

Submission for Registration as UTS Consultant

Application to be a registered Unit Trust Scheme Consultant (UTS Consultant),must be made through the respective UTMCs, IUTAs or CUTAs. Please note that the documentation listed below may not be exhaustive as each UTMC, IUTA or CUTA may have additional mandatory documentation.

Registration for the CUTE and as a UTS Consultant

  • For an applicant who has not taken or passed the CUTE, the registration process encompasses both the registration to sit for the CUTE and the registration to be a UTS Consultant. Upon passing the CUTE, FIMM will then process the applicant’s registration to be a UTS Consultant.

  • For submission of documention for the application of registration as UTS consultant,Please click here

Sighting of the documentary evidence of minimum education, ie SPM certificate or its equivalent is the sole responsibility of the UTMCs, IUTAs and CUTAs. Please refer to the respective UTMCs, IUTAs or CUTAs for the CUTE locations and timetable.

Submission to FIMM must be done with complete documentation.

Registration of Former UTS Consultant and Variation of Registration of UTS Consultant.

  • Registered UTS Consultant must resign from their current company before they are allowed to register with a new company.
  • Registration of Former UTS Consultant or Variation of Registration of UTS Consultant may be required to fulfil additional requirements prior to being allowed to rejoin the unit trust industry if they have been inactive for more than 1 year from the date of non-renewal, resignation or termination, whichever is earlier.

  • For submission of the documentation for Registration of former UTS Consultant or Variation of Registration of UTS consultant please click here.

The company which is registering the former UTS Consultant may request for other documents such as the FIMM certificate for verification purposes.

Submissions to FIMM must be done with complete documentation

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Rules And Regulations For UTS Consultant

Registration as a Unit Trust Scheme Consultant (UTS Consultant) requires compliance with all clauses under the Minimum Standards for Registration of UTS Consultant, as stipulated in the “Guidelines on Marketing and Distribution of Unit Trust Funds” issued by the Securities Commission, including the requirement to pass the CUTE prior to registration.

Code Of Ethics And Standards of Professional Conduct For The Unit Trust

The registered UTS Consultant must comply with all the provisions of the Code Of Ethics And Standards Of Professional Conduct For The Unit Trust Industry at all times.

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Fees

APPLICATION FOR REGISTRATION AS A UTS Consultant

UTS Consultant
Type Of Fees Amount (RM) GST of 6% (RM) Total amount including GST (RM)
CUTE Fee (First time and resit) 170.00 10.20 180.20
Registration Of Former UTS consultant Fee** 73.00 4.38 77.38*
Annual Fee 53.00 3.18 56.18*
Exemption Fee (in respect of individual exempted from having to sit for the CUTE) 73.00 4.38 77.38*
Replacement or correction of FIMM Authorisation Card 6.00 0.36 6.36*
Replacement or correction of certificate issued by FIMM relating to CUTE 6.00 0.36 6.36*
Computerised Unit Trust Examination (“CUTE”) Study Manual 12.00 0.72 12.72*
Appeal Fee 20.00 1.20 21.20
        * Effective 1 April 2015. The total amount including GST will be rounded up or down based on Bank Negara Malaysia Rounding Mechanism.

                 ** Not Applicable to consultants who have paid the annual fee at the point of renewal.

Note:

  • The CUTE Fee is inclusive of one copy of Examination Manual (first-time sitting only), authorisation card and FiMM certificate.
  • There will be no refund on CUTE Fee  should an individual fail or is absent from the examination.
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Examination Schedule

Examination Centre
Ipoh
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Johor Bahru
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Kota Bharu
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Kota Kinabalu
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Kuala Lumpur 1
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Kuala Lumpur 2
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Kuala Lumpur 3
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Kuala Terengganu
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Kuantan
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Kuching
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Melaka
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Miri
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Penang
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Petaling Jaya 2
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Petaling Jaya 3
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Sungai Petani
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Seremban
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Sibu
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Tawau
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Study Guide Update

Title
Update (CHI)-1
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Update (CHI)-2
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Update (CHI)-3
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Introduction of CUTE

Entrusted by the Securities Commission, FIMM is the sole institution which organises the examination which qualifies individuals to market and distribute unit trusts. Unit trusts qualification examinations started in 1999 using the manual format and have since progressed to a computerised, web-based examination known as CUTE. Candidates must thus have a fair knowledge on the usage of a computer before attempting the examination. Candidates are required to answer 60 multiple choice questions within two hours. It is mandatory that candidates pass the CUTE before they market and distribute unit trusts.

The first CUTE session commenced 22 July 2004 with the manual examination being conducted concurrently until October 2004. Starting November 2004, CUTE was fully implemented.

The CUTE sessions are conducted regularly in the Klang Valley and major cities or towns in Peninsular Malaysia, Sabah and Sarawak. The CUTE schedule and locations can be viewed by clicking on this link.

Chapter 1 – Understanding Unit Trusts

Chapter 2 – Regulation of the Unit Trust Industry

Chapter 3 – Servicing Clients and Marketing Unit Trusts

Chapter 4 – Industry Code of Ethics and Standards of Professional Conduct

Chapter 5 – Personal Financial Planning

Chapter 6 – Operations of Syariah-based Unit Trust Schemes

Chapter 7 – Glossary

The study manual for CUTE can be obtained from the company with which the candidate registers for the examination.

CUTE is conducted in Bahasa Melayu, English and Chinese. Candidates are able to obtain the results of the examination immediately after each session. However, they are not allowed to market and distribute unit trusts until receipt of FIMM’s final confirmation on the examination results.

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