CMFAS Exams Overview
Understand the key CMFAS exams required for financial advisors in Singapore.
RES5
A comprehensive mock exam for the RES5 (Rules, Ethics and Skills for Financial Advisory Services) paper.
Exam Details
- Format:Part I: 110 MCQs, Part II: 40 MCQs. Computer-based.
- Duration:Part I: 2 hours, Part II: 45 minutes.
- Passing Score:75% for Part I (Rules), 80% for Part II (Ethics & Skills). Must pass both.
- Prerequisites:None. Can be retaken without limits.
- Study Time:Approximately 112 hours recommended.
RES5 Mock Exam Question Distribution
Part I: Rules (Regulatory Framework) - 110 Questions
| Chapter | Focus Area | Qty | Weight |
|---|---|---|---|
| Ch 1 | FAA & FAR – Licencing, Exemptions, and RNF | 20 | 18.2% |
| Ch 2 | FAA & FAR – Conduct of Business, Powers of MAS & Offences | 15 | 13.6% |
| Ch 3A | MAS Notice FAA-N16 (Recommendations, Suitability, CKA/CAR) | 15 | 13.6% |
| Ch 3B | MAS Notice FAA-N03 (Information to Clients, Disclosure, Marketing) | 10 | 9.1% |
| Ch 3C | MAS Notice FAA-N11 (Dual Currency Investments) | 5 | 4.5% |
| Ch 4A | MAS Notice FAA-N02 (Introducers) | 5 | 4.5% |
| Ch 4C | MAS Notice FAA-N12 (Provisional Representative Entry) | 5 | 4.5% |
| Ch 4D | MAS Notice FAA-N14 (Reporting Misconduct) | 5 | 4.5% |
| Ch 4E | MAS Notice FAA-N20 (Balanced Scorecard Framework) | 10 | 9.1% |
| Ch 4F | MAS Notice FAA-N26 (Competency Requirements) | 5 | 4.5% |
| Ch 5 | MAS Notice FAA-N06 (AML/CFT) | 5 | 4.5% |
| Ch 6 & 7 | MAS Notices/Guidelines (Technology Risk, DPI, MAS 307 ILPs) | 5 | 4.5% |
| Ch 8 & 9 | MAS Guidelines (Licensing Criteria, Fit & Proper, Switching, Digital Advisory) | 5 | 4.5% |
Part II: Ethics and Skills - 40 Questions
| Chapter | Focus Area | Qty | Weight |
|---|---|---|---|
| Ch 14 & 15 | Professional Ethics, Professionalism, and Ethics vs. Compliance | 8 | 20.0% |
| Ch 16 & 17 | Ethical Behavior, Principles, and Unethical Behavior | 8 | 20.0% |
| Ch 18 | Conflict of Interest (Types, Manifestations, Standards) | 8 | 20.0% |
| Ch 19 | Fair Dealing (Principles and Outcomes) | 8 | 20.0% |
| Ch 20 | Ethical Marketing & Sale (Misrepresentation, Suitability) | 4 | 10.0% |
| Ch 21-27 | Professional Skills (Fact-Finding, Client Service, Financial Analysis) | 4 | 10.0% |
HI
A 50-question master mock exam for the HI (Health Insurance) paper in Singapore, focusing on complex concepts and numerical calculations.
Exam Details
- Format:50 multiple-choice questions (MCQs).
- Duration:75 minutes.
- Passing Score:70%.
- Prerequisites:None. Can be retaken without limits.
HI Mock Exam Question Distribution
| Chapter Group | Focus Area | Qty | Weight |
|---|---|---|---|
| Ch 1 | Overview of Healthcare Environment & National Financing | 7 | 14% |
| Ch 2 & 3 | Medical Expense Insurance (MEI), IP Mechanics, Deductibles, Limits | 15 | 30% |
| Ch 4 & 5 | Disability Income (DI) and Critical Illness (CI) | 10 | 20% |
| Ch 6 & 7 | Long-Term Care (CareShield Life, ElderShield) and Group Health | 8 | 16% |
| Ch 8 & 9 | Underwriting, Claims, and Advanced Rules (Reinsurance, MAS Notices) | 10 | 20% |
M9A
A 50-question master mock exam for the M9A (Life Insurance And Investment-Linked Policies II) paper in Singapore, with a heavy focus on structured products and derivatives.
Exam Details
- Format:50 multiple-choice questions (MCQs).
- Duration:1 hour.
- Passing Score:70%.
- Prerequisites:None. Can be retaken without limits.
M9A Mock Exam Question Distribution
| Chapter Group | Focus Area | Qty | Weight |
|---|---|---|---|
| Ch 3 & 4 | ILPs with Derivatives, Pricing, and Capital Guaranteed Structures | 15 | 30% |
| Ch 6 & 7 | Regulatory Framework (MAS Notices 307/307A, Disclosure, Suitability) & Financial Planning | 15 | 30% |
| Ch 1 & 2 | Introduction to Structured Products, Mechanics, and Risks | 10 | 20% |
| Ch 5 | Portfolio Bonds (Mechanics, Fees, Suitability) | 10 | 20% |
M9
A 100-question master mock exam for the M9 (Life Insurance And Investment-Linked Policies) paper in Singapore.
Exam Details
- Format:100 multiple-choice questions (MCQs).
- Duration:1.5 hours (90 minutes).
- Passing Score:70%.
- Prerequisites:None. Can be retaken without limits.
M9 Mock Exam Question Distribution
| Topic Area | Focus Area | Qty | Weight |
|---|---|---|---|
| Traditional Life Policies | Term, Whole Life, Endowment, and their mechanics. | 30 | 30% |
| Investment-Linked Policies (ILPs) | Structure, pricing (bid/offer), fees, and risk-return characteristics. | 25 | 25% |
| Policy Provisions & Law | Nominations, Trusts, Wills, Policy Conditions, and Insurance Law principles. | 20 | 20% |
| Retirement & Annuities | CPF schemes (CPF LIFE, RSS), and the mechanics of different annuity types. | 15 | 15% |
| Calculation & TVM | Needs analysis, affordability ratios, and basic Time Value of Money calculations. | 10 | 10% |