Revision to IBF Examinations Fees with effect from 1 April 2023

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From 1 April 2023, IBF will be implementing new examination fees for the Capital Markets and Financial Advisory Services (CMFAS), Client Adviser Competency Standards (CACS) and Financial Markets Regulatory Practices (FMRP) Examinations. As a transitional arrangement, candidates who register and pay for their examination registrations before 1 April 2023 for examination sessions in April and May 2023 will be charged the current fees.

IBF will also standardise the fees for both the first attempt and subsequent attempts of all examinations conducted by IBF. Currently, fees for subsequent attempts are lower than those for first attempts.

IBF conducts regular reviews of examination fees taking into consideration the cost of running these examinations and affordability for finance industry participants. The last fee adjustment for CMFAS Examination was in 2011 and the CACS and FMRP Examinations in 2018. Since then, the costs for developing and delivering examinations have trended up over the years.

The table below sets out the current and new fees (before GST) for the various IBF Examinations:

Module	Corporate Members			Non-Corporate Members
	Current Fees		New Fees (from 1 April 2023)	Current Fees		New Fees (from 1 April 2023)
	1^st Attempt	Subsequent Attempts	New Fees (from 1 April 2023)	1^st Attempt	Subsequent Attempts	New Fees (from 1 April 2023)
Module 1A	$150	$130	$190	$170	$150	$230
Module 1B	$150	$130	$190	$170	$150	$230
Module 2A	$180	$160	$230	$200	$180	$270
Module 3	$180	$160	$230	$200	$180	$270
Module 4A	$180	$160	$230	$200	$180	$270
Module 4B	$180	$160	$230	$200	$180	$270
Module 6	$150	$130	$190	$170	$150	$230
Module 6A	$150	$130	$190	$170	$150	$230
Module 10	$250	$210	$320	$290	$250	$380
CACS Paper 1	$330	$310	$410	$400	$380	$490
CACS Paper 2	$330	$310	$410	$400	$380	$490
FMRP	$150	$130	$190	$180	$160	$230

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