Courses

Get full access to tutorial and mock exam papers to help pass your CMFAS exams.

All Courses

Get full access to tutorial and mock exam papers to help you pass your CMFAS exams.

CMFAS - M5

Rules and Regulations for Financial Advisory Services

CMFAS - M8

Collective Investment Schemes

CMFAS - M8A

Collective Investment Schemes II

CMFAS - M9

Life Insurance and Investment-Linked Policies

CMFAS - M9A

Life Insurance and Investment-Linked Policies II

HEALTH INSURANCE - HI

Get Full Access on Tutorials and Mock Exam Papers

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.

ModuleStructureDurationMinimum Passing GradeResult Slip
M5 - Rules and Regulations for Financial Advisory Services100 MCQ2 hrs75%YES
M8 - Collective Investment Schemes50 MCQ1 hr70%YES
M8A - Collective Investment Schemes II50 MCQ1 hr70%YES
M9 - Life Insurance and Investment-Linked Policies100 MCQ2 hrs70%YES
M9A - Life Insurance and Investment-Linked Policies II50 MCQ1 hr70%YES
HI - Health Insurance50 MCQ1 hr 15 mins70%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.