Module 4A (M4A) - Rules & Regulations for Advising on Corporate Finance

The M4A Examination is applicable for all persons who wish to advise on corporate finance for equity securities in Singapore. 

Please refer to the MAS Notice SFA 04-N09​ for more information. Candidates are also advised to check with their compliance department for their applicable CMFAS exam modules.

  • Exam Syllabus
  • Exam Format
  • Exam Fees
  • Exemptions
  • - The Capital Markets and Corporate Finance Industry in Singapore
  • - Raising Capital
  • - Getting Listed 
  • - Post Listing Obligations and Considerations
  • - Overview of Singapore Code on Take-overs and Mergers ​
  • - Market Conduct
  • - Prevention of Financial Crimes


  • Format: 50 MCQs (computer-based)
  • Duration: 1 hour 15 minutes
  • Pass mark: 75%

Candidates will receive their results immediately upon completion.

  Fees before GST
  1st Attempt Subsequent Attempt
Corporate Members $180 $160
Non-Members $200 $180

There are no exemptions for M4A because it is a Rules & Regulations examination.


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