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Securities Regulations M1 Flashcards

6 cards from real CMFAS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 6 Securities Regulations M1 flashcards as text

  1. Which act primarily governs the securities and futures industry in Singapore?

    Answer: Securities and Futures Act (SFA)

    The Securities and Futures Act (SFA) is the principal legislation governing the securities, futures, and derivatives industry in Singapore.

  2. What is the primary role of the Monetary Authority of Singapore (MAS)?

    Answer: To regulate and supervise the financial sector

    MAS is Singapore's central bank and integrated financial regulator, responsible for supervising all financial institutions.

  3. Which of the following activities requires a Capital Markets Services (CMS) licence?

    Answer: Dealing in securities

    Dealing in securities is a regulated activity under the SFA that requires a Capital Markets Services licence from MAS.

  4. What is the purpose of the Securities and Futures (Licensing and Conduct of Business) Regulations?

    Answer: To prescribe licensing requirements and conduct standards

    These regulations prescribe detailed requirements for licensing of intermediaries and set out standards of conduct for the financial industry.

  5. Who is required to pass the CMFAS examinations?

    Answer: Representatives of licensed financial institutions

    Representatives who carry out regulated activities on behalf of licensed financial institutions must pass the relevant CMFAS modules.

  6. What is the minimum base capital requirement for a holder of a CMS licence for dealing in securities?

    Answer: $500,000

    A CMS licence holder for dealing in securities is required to maintain a minimum base capital of $500,000 under MAS regulations.

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Sources & references

Exam facts on this page (fees, format, dates, passing scores) are checked against these official sources; the date is our last check. Editorial policy

  1. ibf.org.sg — Eligibility, fees, score release, registration, retake policy, exam format, passing score, time limit · verified Oct 2026