Module 1B (M1B) - Rules & Regulations for Dealing in Securities (Non-SGX-ST Members)

The M1B Examination is applicable for all persons who wish to deal in securities products for a principal company that is not a member of Singapore Exchange - Securities Trading Limited.

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.

  • - The Capital Markets Industry in Singapore and Participants in the Capital Markets
  • - Licensing and Business Operations
  • - Market Conduct
  • - Central Provident Fund Investment Scheme (CPFIS)
  • - Prevention of Financial Crimes
  • Format: 60 MCQs (computer-based)
  • Duration: 1 hour 15 minutes
  • Pass mark: 75%


The exam results will be displayed on the computer screens after the exam. Printed result slips will not be issued.

  Fees before GST
  1st Attempt Subsequent Attempt
Corporate Members $150 $130
Non-Members $170 $150

There are no exemptions for M1B because it is a Rules & Regulations examination.

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