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Capital Markets and Financial Advisory Services (CMFAS) Examinations

The last day for registration of examination modules under the Current CMFAS Examinations is 24 March 2024, 12pm. IBF will cease to offer all examination modules under the Current CMFAS Examinations with effect from 26 March 2024. Please refer to the announcement on New CMFAS Examinations and the FAQs on Transitional Arrangements for the Implementation of new CMFAS Examinations for details.  

The CMFAS Examinations are the licensing examinations for the capital markets and financial advisory services in Singapore.

After successfully completing the relevant examination modules, candidates must lodge a notification with the Monetary Authority of Singapore (MAS) before they can carry out regulated activities.

Find out relevant CMFAS Examinations module(s) with the filter below:

My specialisation is in

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Advising on Corporate Finance
Advising on Corporate Finance (Solely Debt Securities)
Dealing in Securities (non SGX-ST Members)
Dealing in Securities (SGX-ST Members)
Fund Management
Leveraged Foreign Exchange Trading
Real Estate Investment Trust (“REIT”) Management
Trading in Futures Contracts (Non SGX-DT Members)
Trading in Futures Contracts (SGX-DT Members)

Or Search by Module

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Module 1A (M1A) - Rules & Regulations for Dealing in Securities (SGX-ST Members)
Module 1B (M1B) - Rules & Regulations for Dealing in Securities (Non-SGX-ST Members)
Module 2A (M2A) - Rules & Regulations for Trading in Futures Contracts (SGX-DT Members)
Module 3 (M3) - Rules & Regulations for Fund Management
Module 4A (M4A) - Rules & Regulations for Advising on Corporate Finance
Module 4B (M​4B) - Rules & Regulations for Advising on Corporate Finance (Solely Debt Securities)
Module 6 (​M6) - Securities Products & Analysis
Module 6A (M​6A) - Securities & Futures Product Knowledge
Module 10 (M10) ​- Rules & Regulations for REIT Management, with Product Knowledge & Analysis

The Singapore College of Insurance (SCI) is the administrator of the CMFAS Examinations for the financial advisory and insurance industry (i.e. CMFAS M5, M8, M8A, M9, M9A). Please refer to their website for more information on these exams.