[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-203823-105":59,"doc-detail-203823-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","listed-or-unlisted-sip-when-car-and-cka-apply-practical-guidance","Listed or Unlisted SIP? - When CAR and CKA Apply - Practical guidance","","Explains how to determine whether a Specified Investment Product is a listed or unlisted SIP and which assessment applies: Customer Account Review (CAR) for listed SIPs and Customer Knowledge Assessment (CKA) for unlisted SIPs. Clarifies that CAR and CKA test knowledge or experience, not suitability to one’s risk capacity. Provides a practical decision workflow: classify first, verify required markers and validity dates, record assessment status, then still test suitability, costs, and worst-case loss using safeguards and downside calculations.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/listed-or-unlisted-sip-when-car-and-cka-apply-practical-guidance/203823/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/listed-or-unlisted-sip-when-car-and-cka-apply-practical-guidance/203823.png","ImageObject",300,407,{"name":92,"@type":93},"Connor ","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-09","2026-09-04",true,{"@type":102,"interactionType":103,"userInteractionCount":24},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"How do you decide whether CAR or CKA applies to a SIP?","Question",{"text":112,"@type":113},"Classify the product first: listed SIPs require CAR and unlisted SIPs require CKA. The listed/unlisted route determines which assessment applies under stated criteria and validity rules.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What should you do after passing the relevant assessment (CAR or CKA)?",{"text":117,"@type":113},"Even after passing, still test suitability, costs, and worst-case loss. Proceed only after verifying the underlying condition and recording the assessment date and status.",{"name":119,"@type":110,"acceptedAnswer":120},"Why is knowledge different from fit, and what checks should be added?",{"text":121,"@type":113},"A suitability recommendation and financial needs analysis are distinct from SIP knowledge assessments. Knowing leverage mechanics does not prove an exposure is affordable; add capacity-for-loss and time-horizon checks.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},203823,1789990621,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":24,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":19,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":143,"read_time":52},687207022233,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","Listed or Unlisted SIP? Know When CAR and CKA Apply  \nDescription  \nListed Specified Investment Products generally require a Customer Account Review before account opening; unlisted SIPs require a Customer Knowledge Assessment. CAR and CKA test knowledge or experience, not whether the product suits your risk capacity, and they have different validity rules.  \nThe practical task is to identify whether the product is a listed or unlisted SIP and the knowledge assessment that applies. A sound decision separates the controlling condition from convenience, then records the evidence before money, travel, work or a deadline makes the choice harder to reverse.  \nChoose the branch before acting  \nSituation  \nThe SIP trades on an exchange The SIP is unlisted  \nYou pass the knowledge assessment  \nYou do not pass  \nPractical next step  \nPrepare for CAR and verify the product marker Prepare for CKA and review product documents  \nStill test suitability, costs and worst-case loss  \nUnderstand the additional safeguards before deciding whether to proceed  \nClassify the product first  \nMoneySense specified investment products guide states the controlling point used here: Listed SIPsuse CAR, unlisted SIPs use CKA, with stated criteria, validity periods and safeguards. The listed or unlisted route determines which assessment applies. Write the venue and product legal form.  \nFor classify the product first, this becomes consequential when â??The SIP trades on an exchangeâ?• applies. The next move is to prepare for CAR and verify the product marker, but only after the  \nPage 1  \nFooter Tagline  \nunderlying condition has been verified and dated.  \nUnderstand CAR  \nCAR can consider qualifications, work experience, transactions or an approved learning assessment. Retain the institutionâ??s outcome and expiry basis.  \nFor understand car, record the result as confirmed, pending or not applicable. If it is still pending, do not let a convenient assumption close the gap; identify the person or service that can resolve it and the last safe time to ask.  \nUnderstand CKA  \nCKA uses relevant knowledge or experience criteria for unlisted SIPs and is valid for a shorter stated period. Record the assessment date.  \nFor understand cka, this becomes consequential when â??You pass the knowledge assessmentâ?• applies. The next move is to still test suitability, costs and worst-case loss, but only after the underlying condition has been verified and dated.  \nDo not confuse knowledge with fit  \nMoneySense financial advisory process states the controlling point used here: A suitability recommendation and financial needs analysis are distinct from SIP knowledge assessments. Knowing how leverage works does not prove a large leveraged position is affordable. Add capacity-for-loss and time-horizon checks.  \nFor do not confuse knowledge with fit, record the result as confirmed, pending or not applicable. If it is still pending, do not let a convenient assumption close the gap; identify the person or service that can resolve it and the last safe time to ask.  \nCalculate the downside  \nComplex pay-offs can hide gap risk, margin calls, issuer risk and early-exit costs. Write a worst-case cash-flow example.  \nFor calculate the downside, this becomes consequential when â??The SIP trades on an exchangeâ?• applies. The next move is to prepare for CAR and verify the product marker, but only after the underlying condition has been verified and dated.  \nRead the safeguards  \nA failed assessment does not always make the transaction impossible, but additional processes should not be treated as endorsement. Ask what advice and warnings will apply.  \nPage 2  \nFooter Tagline  \nFor read the safeguards, record the result as confirmed, pending or not applicable. If it is still pending, do not let a convenient assumption close the gap; identify the person or service that can resolve it and the last safe time to ask.  \nA CAR-versus-CKA comparison of product type, criteria and validity  \nStart ","cbCaif89SHhBFdsG","https://ap.wps.com/l/cbCaif89SHhBFdsG","pdf",340055,"English","# Choose the branch before acting\n## Situation\n## Practical next step\n# Classify the product first\n## Venue and product legal form\n# Understand CAR\n# Understand CKA\n# Do not confuse knowledge with fit\n# Calculate the downside\n# Read the safeguards\n# Before you commit","[{\"question\":\"How do you decide whether CAR or CKA applies to a SIP?\",\"answer\":\"Classify the product first: listed SIPs require CAR and unlisted SIPs require CKA. The listed/unlisted route determines which assessment applies under stated criteria and validity rules.\"},{\"question\":\"What should you do after passing the relevant assessment (CAR or CKA)?\",\"answer\":\"Even after passing, still test suitability, costs, and worst-case loss. Proceed only after verifying the underlying condition and recording the assessment date and status.\"},{\"question\":\"Why is knowledge different from fit, and what checks should be added?\",\"answer\":\"A suitability recommendation and financial needs analysis are distinct from SIP knowledge assessments. Knowing leverage mechanics does not prove an exposure is affordable; add capacity-for-loss and time-horizon checks.\"}]","Listed or Unlisted SIP? - When CAR and CKA Apply - Practical guidance | PDF",1788564171]