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Get full access to tutorial and mock exam papers to help pass your CMFAS exams.
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Get full access to tutorial and mock exam papers to help you pass your CMFAS exams.
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Capital Markets and Financial Advisory Services (CMFAS) Examinations
The CMFAS Examinations are the licensing examinations required for the capital markets and financial advisory services in Singapore under FAA-N13: Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers from a Licensed Financial Advisor.
After successfully completing the relevant examination modules, potential financial advisers/representatives must lodge a notification with the Monetary Authority of Singapore (MAS) before they can carry out regulated activities.
| Module | Structure | Duration | Minimum Passing Grade | Result Slip |
|---|---|---|---|---|
| M5 - Rules and Regulations for Financial Advisory Services | 100 MCQ | 2 hrs | 75% | YES |
| M8 - Collective Investment Schemes | 50 MCQ | 1 hr | 70% | YES |
| M8A - Collective Investment Schemes II | 50 MCQ | 1 hr | 70% | YES |
| M9 - Life Insurance and Investment-Linked Policies | 100 MCQ | 2 hrs | 70% | YES |
| M9A - Life Insurance and Investment-Linked Policies II | 50 MCQ | 1 hr | 70% | YES |
| HI - Health Insurance | 50 MCQ | 1 hr 15 mins | 70% | YES |
Additional Information:
- All CMFAS Examinations are closed-book and computer-based.
- There is no limit on the number of retakes for an examination.
- For a list of approved exemptions, please refer directly to MAS website at http://www.mas.gov.sg under MAS Notice No. FAA-N13: Notice on Minimum Entry and Examination Requirements for Representatives for Financial Advisers and Exempt Financial Advisers.