CMFAS Study Guide 2026
Everything you need to pass the CMFAS exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CMFAS Exam Format at a Glance
📚 CMFAS Topics to Study (39)
✍️ Sample CMFAS Questions & Answers
1. What is the maximum civil penalty MAS can impose for market misconduct?
Under the civil penalty regime of the SFA, MAS can seek civil penalties up to $2,000,000 for market misconduct offences.
2. What is the prohibition against market timing abuse in financial advisory?
Market timing abuse involves exploiting stale pricing or time zone differences in fund NAV calculations for unfair gains, which is prohibited.
3. What is a structured deposit?
A structured deposit has returns linked to the performance of underlying financial instruments like equities, interest rates, or currencies.
4. What does 'ex-dividend' mean?
When a stock goes ex-dividend, buyers after that date will not receive the declared dividend. The dividend goes to whoever held the shares before the ex-date.
5. Who is required to pass the CMFAS examinations?
Representatives who carry out regulated activities on behalf of licensed financial institutions must pass the relevant CMFAS modules.
6. What is a convertible term policy?
A convertible term policy gives the policyholder the option to convert it to a permanent (whole life or endowment) policy without needing to prove insurability.
🎯 Free CMFAS Practice Tests
📖 CMFAS Guides & Articles
What Practice Test Geeks adds beyond an AI chat for CMFAS
An AI chatbot can quiz you, but it can't reproduce the exam conditions or keep your record. Here you get:
- A timed, full-length CMFAS mock exam — 100 questions in 120 minutes with a 75% pass mark, modeled on the official exam's question count and time limit, followed by a score report broken down by exam domain.
- A fixed CMFAS question bank: the same test every attempt, so your score is comparable from one try to the next instead of changing with every regenerated quiz.
- Progress saved on your device: completed tests, scores and missed questions stay in My Progress, so you can retake only what you got wrong.
- A printable CMFAS cheat sheet you can print or save as a PDF.
- CMFAS flashcards built from the same question bank.
- Free CMFAS practice tests with the correct answer shown after each question.
How this page was made: written with AI tools and published by Nathan Beja, founder of Practice Test Geeks, who is responsible for its content. Exam facts are checked against the official sources listed below. Not reviewed by a subject-matter expert. Editorial policy
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
- ibf.org.sg — Eligibility, fees, score release, registration, retake policy, exam format, passing score, time limit · verified Oct 2026