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Capital Markets and Financial Advisory Services (CMFAS) Examinations

Candidates will be able to register for the new CMFAS examination modules from 1 February 2024 for examination sittings from 1 April 2024. They will be able to access the study guides for the new examination modules upon registration. 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.

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

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Advising on Corporate Finance
Dealing in Capital Markets Products (CMP) that are exchange-traded derivatives contracts, over-the-counter derivatives contracts, and/or spot foreign exchange contracts for the purposes of leveraged foreign exchange trading for a principal who is a member of the Asia Pacific Exchange (APEX)
Dealing in Capital Markets Products (CMP) that are exchange-traded derivatives contracts, over-the-counter derivatives contracts, and/or spot foreign exchange contracts for the purposes of leveraged foreign exchange trading for a principal who is a member of the Intercontinental Exchange (ICE) Futures Singapore
Dealing in Capital Markets Products (CMP) that are exchange-traded derivatives contracts, over-the-counter derivatives contracts, and/or spot foreign exchange contracts for the purposes of leveraged foreign exchange trading for a principal who is a member of the Singapore Exchange Derivatives Trading Ltd (SGX-DT)
Dealing in Capital Markets Products (CMP) that are exchange-traded derivatives contracts, over-the-counter derivatives contracts, and/or spot foreign exchange contracts for the purposes of leveraged foreign exchange trading for a principal who is not a member of an Approved Exchange
Dealing in Capital Markets Products (CMP) that are securities and/or units in a collective investment scheme for a principal who is a member of the Singapore Exchange Securities Trading Ltd (SGX-ST)
Dealing in Capital Markets Products (CMP) that are securities and/or units in a collective investment scheme for a principal who is not a member of an Approved Exchange
Fund Management
Real Estate Investment Trust (REIT) Management
(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.)