CMFAS

Introduction to CMFAS

— Capital Markets and Financial Advisory Services Examination (CMFAS Exam) is a modular examination structure effective since 1 December 2002 in accordance with the Notices issued by Monetary Authority of Singapore (MAS) under the SFA and FAA.The CMFAS Exam comprises the following important Modules:
CMFAS - Content

 Rules and Regulations 

Module 1A Rules and Regulations for Dealing in Securities (SGX-ST Members)
Module 1B Rules and Regulations for Dealing in Securities (Non-SGX-ST Members)
Module 2A Rules and Regulations for Trading in Futures Contracts (for members of the Singapore Exchange Derivatives Trading Limited (“SGX-DT”))
Module 2B Rules and Regulations for Trading in Futures Contracts (for members of the Singapore Mercantile Exchange (“SMX”))
Module 3 Rules and Regulations for Fund Management
Module 4A Rules and Regulations for Advising on Corporate Finance
Module 4B Rules and Regulations for Advising on Corporate Finance (Solely Debt Securities)
Module 5 Rules and Regulations for Financial Advisory Services
Module 10 Rules & Regulations For REIT Management, with Product Knowledge & Analysis

Product Knowledge & Analysis

Module 6 Securities Products and Analysis
Module 6A Securities and Futures Product Knowledge
Module 8 Collective Investment Schemes
Module 8A Collective Investment Schemes II
Module 9 Life Insurance and Investment-linked Policies
Module 9A Life Insurance and Investment-linked Policies II

Candidates who wish to act as an appointed CMFAS representative are required to pass the applicable CMFAS examinations prior to lodgement of the notification to act as an appointed representative with MAS. For details, please refer to the relevant notice under SFA (SFA 04-N09) and FAA (FAA-N13).

Click here for more information on the Modules.

For more information on the CMFAS Examinations, please also refer to the:
SFA FAQs [Updated May 2012] 
FAA FAQs [Updated May 2012]

The Institute of Banking & Finance (IBF) administers CMFAS Modules 1A, 1B, 2A, 2B, 3, 4A, 4B, 6, 6A and 10, while the Singapore College of Insurance (SCI) will administer CMFAS Modules 5, 8, 8A, 9 and 9A. For more information on the examinations administered by SCI, please refer to their website at http://www.scicollege.org.

Register as a member and attempt the free CMFAS exam here.