Your Ultimate Guide to Everything About CMFAS Exams

Meta description: Know why Capital Markets and Financial Advisory Services or CMFAS Exams are integral elements in the capital markets and financial services of Singapore.

General Overview of the CMFAS Exam

The Capital Markets and Financial Advisory Services or CMFAS Exams are licensing examinations intended to establish the integrity of Singapore’s capital markets. It is also intended for financial advisory services in Singapore. These exams are administered by the Institute of Banking and Finance (IBF) and the Singapore College of Insurance (SCI). IBF’s sole advocacy is to empower Singapore’s financial industry by developing competent and skilled practitioners to set the standard of excellence in Asia’s world of finance. On the other hand, SCI’s goal is to provide the highest quality professional training and education for the financial services industry.

IBF and SCI administer various examinations so future financial professionals may be able to have a good starting point in the capital market arena. One of the exams they conduct is the CMFAS. Basically, the CMFAS Exam is a modular type of examination that has just become effective on December 1, 2002. This is in compliance with several Notices issued by the Monetary Authority of Singapore (MAS) particularly under the SFA or the Securities and Futures Act and the FAA or the Financial Advisors Act.

What is the purpose of the CMFAS?

Since these are licensing examinations, it basically tests the general knowledge and understanding of the candidates of the following:

The characteristics of each securities product. This also includes the techniques and the tools used in order to study and analyze the said product.
The general regulatory framework of the capital market. This includes the laws and regulations that are covered under this scope. Furthermore, the guidelines, notices, and codes that govern not only the capital markets but also financial intermediaries are included here.

Note that once the candidates pass the CMFAS examinations, they are already considered eligible to apply for license as representative with MAS pursuant to SFA and FAA. Of course, the candidate’s application is still subject for approval by the MAS body.

What are the modules under CMFAS Exam?

As mentioned, the CMFAS exam is a modular structure type of exam. The following are the following Modules under CMFAS:

Module	Name of the CMFAS Exam Module
Module 1A	Rules and Regulations for Dealing in Securities (SGX-ST Members)
Module 1B	Rules and Regulations for Dealing in Securities (Non-SGX-ST Members)
Module 2A	Rules and Regulations for Trading in Futures Contracts (SGX-DT Members)
Module 2B	Rules and Regulations for Trading in Futures Contracts (SMX Members)
Module 3	Rules and Regulations for Fund Management
Module 4A	Rules and Regulations for Advising on Corporate Finance
Module 4B	Rules and Regulations for Advising on Corporate Finance (solely Debt Securities)
Module 5	Rules and Regulations for Financial Advisory Services
Module 6	Securities Products and Analysis
Module 6A	Securities and Future Product Knowledge
Module 8	Collective Investment Schemes
Module 8A	Collective Investment Schemes II
Module 9	Life Insurance and Investment-linked Policies
Module 9A	Life Insurance and Investment-linked Policies II
Module 10	Rules and Regulations for REIT Management, with Product Knowledge and Analysis

The CMFAS Exam Modules for Rules and Regulations cover Module 1A, Module 1B, Module 2A, Module 2B, Module 3, Module 4A, Module 4B, Module 5, and Module 10. On the other hand, the CMFAS Exam modules that cover product knowledge and analysis include Module 6, Module 6A, Module 8, Module 8A, Module 9, and Module 9A.

Module 1A is for members of Singapore Exchange Securities Trading Limited while Module 1B is for non-members of Singapore Exchange Securities Trading Limited. On the other hand, Module 2A is for members of Singapore Exchange Derivatives Trading Limited while Module 2B is for members of the Singapore Mercantile Exchange.

How should I know which exam module must I enroll in?

Given the number of modules available for the CMFAS exams, it can be quite complicated knowing which ones are we qualified or required to take depending on the nature of securities activity one would be exposed in. A detailed illustration for the said requirements is summarized here:

Regulated Activity	Modules
	Rules and Regulations								Product Knowledge and Analysis
	1A	1B	2A	2B	3	4A	4B	10	6	6A
Dealing in Securities (SGX-ST Members)	✔								✔	✔
Dealing in Securities (Non-SGX-ST Members)	✔ (either Module)								✔	✔
Trading in Futures Contracts (SGX-DT Members)			✔							✔
Trading in Futures Contracts (SMX Members)				✔						✔
Trading in Futures Contracts (Non-SGX-DT and Non-SMX Members)			✔ (either Module)							✔
Fund Management					✔					✔
REIT Management								✔
Advising on Corporate Finance						✔
Advising on Corporate Finance (Solely Debt Securities)							✔
Leveraged Foreign Exchange Trading	✔ (any of these Modules)									✔

As illustrated, those candidates who wish to apply for a representative license on a particular regulated activity must make an effort to such exam module relevant to the regulated activity they are in.

Take note that the Modules listed on the table do not include Modules 8, 8A, 9, and 9A. The reason being is that Collective Investment Schemes, Collective Investment Schemes II, Life Insurance and Investment-Linked Policies, and Life Insurance and Investment0linked Policies II do not fall under the purview of a “regulated activity”.

Am I allowed to register for more than one examination all at the same time?

Yes, you are allowed to do so. You can register for multiple examinations within the same transaction on the IBF portal. However, this is different from registering for multiple exams within the same examination session as this is already prohibited.

Are there any qualifications that would exempt me from taking the Module 6 Exam?

Yes, there are certain qualifications or work experiences that may exempt a candidate from taking the Module 6 exam. Note that qualifications that would exempt one from taking Module 6 exam must still be acquired by taking its corresponding examination from the agency that administers it.

The following are the work experiences or qualifications which do not require you take Module 6 if you attain or possess any of the following:

3 years of relevant and continuous working experience in respect of the regulated activity to be conducted provided there is no break-in-service of more than 3 years between the specific representative’s last working experience in the regulated activity and the date of his license prior to 26 November 2010, or commencement of the provision of financial advisory services prior to 26 November 2010, or his principal’s lodgment with the Authority of documents under section 99H of the Act in relation to his appointment as an appointed representative, as the case may be. However, this does not apply to persons who fall within paragraph 7(a)(ii) of Notice No: SFA 04-N09.
Associate Chartered Accountant (ACA) of the Institute of Chartered Accountants in England and Wales 1;
Associate/Fellow of CPA Australia 2;
Associate/Fellow of the Casualty Actuarial Society, USA;
Associate/Fellow of the Faculty of Actuaries, Scotland;
Associate/Fellow of the Institute of Actuaries of Australia;
Associate/Fellow of the Institute of Actuaries, England;
Associate/Fellow of the Society of Actuaries, USA;
Chartered Financial Analyst (CFA) by the CFA Institute, USA;
Degree or higher qualification, with emphasis on accountancy, actuarial science, business/business administration/business management/business studies, capital markets, commerce, economics, finance, financial engineering and financial planning, or computational finance;
Investment Company Products/Variable Contracts Limited Representative Examination (Series 6) or General Securities Representative Examination (Series 7) administered by the Financial Industry Regulatory Authority (FINRA), USA;
Module 1 of the Investor Contact Competency Examination (ICCE Module 1); administered by the Securities and Exchange Commission, Thailand 3; or
The Association of Chartered Certified Accountants (ACCA) Qualifications;

Are there any qualifications that would exempt me from taking Module 6A Exam?

Yes, there are certain qualifications or work experiences that may exempt a candidate from taking the Module 6A exam. Note that qualifications that would exempt one from taking Module 6A exam must still be acquired by taking its corresponding examination from the agency that administers it.

Thus, a representative possessing any of the following is thereby exempt from taking Module 6A exam:

A degree or higher qualification in finance, financial engineering; or
Chartered Financial Analyst (CFA) by the CFA Institute, USA.

Are there any minimum academic entry requirements for appointed representatives?

While it may be true that passing the relevant CMFAS exam is a must, the following are the required minimum academic qualifications for appointed representatives. Take note that these take effect starting February 1, 2014:

a full certificate in GCE ‘A’ Level or General Certification of Education in the Advanced Level;
an International Baccalaureate Diploma qualification;
a diploma awarded by a polytechnic in Singapore; or
any other academic qualification which is equivalent to the qualifications set out in a.), b.) or c.) above.

Where is the CMFAS Exam be held?

Unless otherwise provided, the CMFAS exams are usually held at the IBF Assessment Centre. Such examination venue is particularly located at 10 Shenton Way, #13-07/08 MAS Building, Singapore 079117.

How should I register for the CMFAS Exam?

Since it is both the SCI and IBF that administers the exam, it is important to know where to register depending on the module one is enrolling.

The Institute of Banking and Finance (IBF) administers the following modules:

Module 1A
Module 1B
Module 2A
Module 2B
Module 3
Module 4A
Module 4B
Module 6
Module 6A
Module 10

One the other hand, it is the Singapore College of Insurance (SCI) that administers the following modules:

Module 5
Module 8
Module 8A
Module 9
Module 9A

If one wishes to register any of the modules administered by the IBF, such registration may be done online via http://www.ibg.org.sg/examinations_services_registraton.asp. On the other hand, if one wishes to take any of the modules administered by SCI, one should reach out with the Examination Department from the SCI to know more about the registration details. One may also visit http://www.scicollege.org.sg or thru their contact number 6212336.

What is the Exam Duration and Total Number of Questions for the CMFAS Exams?

This table provides a summary of the exam duration including the total number of questions for each exam module:

Module	Exam Duration	Total Number of Questions
1A Rules and Regulations for Dealing in Securities (SGX-ST Members)	2 hours	100
1B Rules and Regulations for Dealing in Securities (Non-SGX-ST Members)	1.25 hours	60
2A Rules and Regulations for Trading in Futures Contracts (SGX-DT Members)	2 hours	100
2B Rules and Regulations for Trading in Futures Contracts (SMX Members)	2 hours	100
3 Rules and Regulations for Fund Management	2 hours	100
4A Rules and Regulations for Advising on Corporate Finance	1.25 hours	50
4B Rules and Regulations for Advising on Corporate Finance (Solely Debt Securities)	1.25 hours	50
6 Securities Products and Analysis	2 hours	100
6A Securities & Futures Product Knowledge	2 hours	90
10 Rules and Regulations for REIT Management, with Product Knowledge and Analysis	2 hours	100

What is the passing mark for the CMFAS exams?

The passing rate varies depending on the modules. For Rules and Regulations modules which covers Module 1, 1B, 2A, 2B, 3, 4A, 4B, 5, and 10, the passing mark is at 75%. On the other hand, the Product Knowledge and Analysis modules which covers Modules 6, 6A, 8, 8A, 9, and 9A, the passing rate is at 70%.

The result will be provided right away at the end of the examinations. The candidates will then be given their result slips after taking the exam.

What is the Examination Syllabus for each of the CMFAS exam modules?

This following provides a summary of CMFAS’ list of exam modules:

Module 1A: Rules and Regulations for Dealing in Securities (SGX-ST members)
Chapter 1	The Capital Markets Industry in Singapore and Participants in the Capital Markets
Chapter 2	Regulatory Requirements for Licensing and Business Operations
Chapter 3	Regulatory Requirements for Market Conduct
Chapter 4	The Trading System and Infrastructure
Chapter 5	Central Provident Fund Investment Scheme (CPFIS)
Chapter 6	Extended Settlement (ES) Contracts
Chapter 7	Prevention of Financial Crimes

Module 1B: Rules and Regulations for Dealing in Securities (Non- SGX- ST members)
Chapter 1	The Capital Markets Industry in Singapore and Participants in the Capital Markets
Chapter 2	Regulatory Requirements for Licensing and Business Operations
Chapter 3	Regulatory Requirements for Market Conduct
Chapter 4	Central Provident Fund Investment Scheme (CPFIS)
Chapter 5	Prevention of Financial Crimes

Module 2A: Rules and Regulations for Trading in Futures Contracts (SGX-DT members)
Chapter 1	The Capital Markets Industry in Singapore and Participants in the Capital Markets
Chapter 2	Regulatory Requirements for Licensing and Business Operations
Chapter 3	Regulatory Requirements for Market Conduct
Chapter 4	The Trading System and Infrastructure
Chapter 5	Prevention of Financial Crimes

Module 2B: Rules and Regulations for Trading in Futures Contracts (SMX members)
Chapter 1	The Regulatory Bodies and Regulations
Chapter 2	Requirements for Members and Nominated Representatives
Chapter 3	SMX Products
Chapter 4	Security Deposit and Margin Requirements
Chapter 5	Trading
Chapter 6	Risk Management and Surveillance
Chapter 7	Post Trade Management
Chapter 8	Clearing, Settlement, and Delivery
Chapter 9	Default and Discipline
Chapter 10	Regulatory Requirements Relating to Business Operations
Chapter 11	Regulatory Requirements Relating to Market Conduct and Trading
Chapter 12	Prevention of Money Laundering and Countering the Financing of Terrorism

Module 3: Rules and Regulations for Fund Management
Chapter 1	The Capital Markets and Fund Management Industry in Singapore
Chapter 2	Fund Management Rules, Regulations and Guidelines
Chapter 3	Licensing
Chapter 4	Conduct of Business
Chapter 5	Market Conduct
Chapter 6	Collective Investment Schemes (CIS)
Chapter 7	Central Provident Fund Investment Scheme (CPFIS)
Chapter 8	Guidelines on the Product Highlights Sheet (PHS)
Chapter 9	Prevention of Financial Crimes

Module 4A: Rules and Regulations for Advising on Corporate Finance
Chapter 1	The Regulatory Bodies
Chapter 2	SFA and Regulations
Chapter 3	Singapore Code on Take-Overs and Mergers
Chapter 4	SGX-ST Listing and Disclosure Requirements
Chapter 5	Public Listing of Companies

Module 4B: Rules and Regulations for Advising on Corporate Finance (Solely Debt Securities)
Chapter 1	The Regulatory Bodies
Chapter 2	Listing Requirements for Debt Securities
Chapter 3	Prospectus Requirements
Chapter 4	SGX-ST Corporate Disclosure Policy

Module 6: Securities Products and Analysis
Chapter 1	Investments and Financial Markets
Chapter 2	Risk and Return
Chapter 3	Investment Analysis- Understanding Financial Statements
Chapter 4	Investment Analysis – Macroeconomic Analysis
Chapter 5	Technical Analysis and Quantitative Analysis
Chapter 6	Portfolio Management
Chapter 7	Equity Securities
Chapter 8	Fixed Income Securities
Chapter 9	Unit Trusts, REITs, and Exchange- Traded Fund
Chapter 10	Warrants
Chapter 11	Foreign Exchange
Chapter 12	Case studies

Module 6A: Securities and Futures Product Knowledge
Chapter 1	Overview of Securities and Futures
Chapter 2	The Framework for Making Investment Decisions
Chapter 3	Fundamental Analysis
Chapter 4	Technical and Statistical Analysis
Chapter 5	Futures
Chapter 6	Strategies for Futures Markets
Chapter 7	Trading Risk Control and Management
Chapter 8	Options
Chapter 9	Warrants and Other Investment Products
Chapter 10	Basics of Structured Products
Chapter 11	Key Risks
Chapter 12	Structured Notes
Chapter 13	Structured Funds and Structured Exchange Traded Funds
Chapter 14	Comparison of Different Types of Structured Products
Chapter 15	Introduction to Other Financial Derivatives
Chapter 16	Knock-Out Products
Chapter 17	Contracts for Differences (CFDs)
Chapter 18	Extended Settlement (ES) Contracts
Chapter 19	Case Studies

Module 10: Rules and Regulations for REIT Management, with Product Knowledge and Analysis
Chapter 1	Introduction to Externally Managed Singapore Real Estate Investment Trusts (S-REITs)
Chapter 2	Introduction to the Property Market
Chapter 3	Property Valuation Considerations
Chapter 4	REIT Management
Chapter 5	Financing in REITs
Chapter 6	Pricing and Investing in S-REITs
Chapter 7	Key Rations and Performance Measures
Chapter 8	Due Diligence on Property
Chapter 9	Legal Framework of S-REITs
Chapter 10	Regulatory Requirements Relating to Offer of Units in S-REIT
Chapter 11	Conduct of Business
Chapter 12	Continuing Listing Obligations
Chapter 13	Difference Between Real Estate Investment Trusts and Business Trusts
Chapter 14	Market Conduct
Chapter 15	Prevention of Financial Crimes

How much should I pay for the examination fees?

Examination fees vary depending on the following factors:

Type of exam module that you will be taking
Status as a candidate whether you are taking the exam on your 1^st attempt or on your subsequent attempts
Status of membership whether you are a corporate member or not

For a more concise and detailed illustration, refer here:

Module	Fees before GST
	Corporate members		Non-Members
	1^st Attempt	Subsequent	1^st Attempt	Subsequent
1A Rules and Regulations for Dealing in Securities (SGX-ST Members)	$150	$130	$170	$150
1B Rules and Regulations for Dealing in Securities (Non-SGX-ST Members)	$150	$130	$170	$150
2A Rules and Regulations for Trading in Futures Contracts (SGX-DT Members)	$180	$160	$200	$180
2B Rules and Regulations for Trading in Futures Contracts (SMX Members)	$180	$160	$200	$180
3 Rules and Regulations for Fund Management	$180	$160	$200	$180
4A Rules and Regulations for Advising on Corporate Finance	$180	$160	$200	$180
4B Rules and Regulations for Advising on Corporate Finance (Solely Debt Securities)	$180	$160	$200	$180
6 Securities Products and Analysis	$150	$130	$170	$150
6A Securities & Futures Product Knowledge	$150	$130	$170	$150
10 Rules and Regulations for REIT Management, with Product Knowledge and Analysis	$250	$210	$290	$250

The rates as shown are still exclusive of GST or Goods and Services Tax. Currently, Singapore’s GST rate is at 7%. Note that such fees are non-refundable and non-transferrable. Also, they may be subject to change without prior notice.

Where can I get to purchase books or references for my study readings?

Candidates may be able to have access of their reference materials or Study Guides online immediately after they have successfully registered for the exam. However, for those candidates who would like to get hold of the hard copies of the Study Guides, they may do so by paying for an additional fee which is as follows:

$20 + GST (Goods and Services Tax) for each copy for Modules 1A, 1B, 2A, 2B, 3, 4A, 4B, 6, and 6A
$40 + GST (Goods and Services Tax) for each copy for Module 10

Take note that these fees are non-transferrable and non-refundable. Also, such rates may be subject change without prior notice.

Is it required to meet the requirements by my principal company even though I have complied the minimum requirements under Notice FAA-N13?

Yes. The Monetary Authority of Singapore or MAS puts the onus on the principal companies so they may satisfy themselves that their principals are fit, competent, and proper to work for them. In other words, these principal companies must make sure that before their hire their representatives, the representatives are rendered fit and proper to work based on their assessment before the principal companies appoint them as per guidelines set by FAA and SFA. For a representative to be considered fit and proper, he must possess integrity, competence and financial soundness.

While the fit and proper criteria is what is set out in MAS Guidelines as the minimum standards that representatives are expected to meet, still, the principal companies are encouraged to also set their own standards that are deemed higher than the minimum requirements as set forth by MAS.

Therefore, once your principal company requires you to take the relevant CMFAS exam despite having met the minimum required educational and work experience requirement, it can require you to take such exam in order to supplement your existing professional and educational qualification.

Am I exempted to take the CMFAS examination if I pass the professional or work experience qualification?

The FAA Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers or Notice FAA-N13 stipulates that persons who possess certain particular qualifications or work experiences are thereby exempted from passing certain CMFAS examinations. These exams include certain Product Knowledge and Analysis modules.

However, if you intend to take CMFAS exam under the Rules and Regulations modules, note that there are no exemptions stated. It is required that you take it despite having met the relevant work experience and professional qualification.

What CMFAS exam module should persons who are about to make research reports about investment products have to pass?

Such persons fall under the purview of those who merely promulgate or issue investment reports and/or analysis. Thus, they are not required to take the CMFAS exam requirement.

Am I required to satisfy the CMFAS exam requirement if I intend to provide advice on both foreign exchange and leveraged foreign exchange.?

If you intend to provide advice on leveraged foreign exchange, then you have to satisfy the CMFAS Examination requirement- unless you are merely issuing or promulgating research reports, then you are not required to take the CMFAS exam requirement. However, if you intend to provide advice on foreign exchange only, there is no need for you to take the CMFAS Examination requirement.

Am I required to still pass the CMFAS examination if I am already employed with a financial advising company?

If you work with such company which, among others, issues report on investment products, except life policies, such stipulation falls under regulation 27(1)(d) of the Financial Advisers Regulations of 2002. As such the CMFAS Examination requirement does not apply to you.

Instead, the CMFAS Examination requirement only applies to persons who wish to provide financial advisory services for a licensed financial adviser or a person exempt from holding a financial adviser’s license.

Are the persons who provide advice on bonds to accreditors investors subject to the CMFAS Examination requirement?

Persons who provide such advice are not bound by the CMFAS Examination requirement.

Are persons who are employed by any bank to provide advice on Singapore government’s securities required to take the CMFAS examination?

Persons who are duty-bound by their employer bank to provide advice on the securities of the Singapore government are not subject to the CMFAS Examination requirement.

Is there a validity period for passing the CMFAS examination?

As long as you continue to be employed or connected with performing any regulated activity, you remain licensed to perform such regulated activities. However, if you have stopped within a period of 3 years and you did not comment in any regulated activity, then you are required to take the CMFAS Examination again for you to commence and carry out in performing any relevant financial advisory services that you have been performing before.

But there are certain qualifications and exemptions for this. For instance, prior to commencing the provisions stared for financial advisory services, persons should be required to re-take Module 5 and must pass it. But such persons are no longer required to take again and pass other CMFAS exam modules especially on Product Knowledge and Analysis. Now, if one wishes to provide advice on Specified Investment Products, then they are required to pass Module 6A, 8A or 9A. Of course, this should depend on the type of Specified Investment Product that you indent to render advice on.

Can an FA licensed representative continue the provision of financial advisory services if they left the company without completing the Module 5 non-examinable course?

Unfortunately, they are not allowed to continue on and take the non-examinable course should they wish to re-commence. However, this can be remedied as such person is required to pass the CMFAS Module 5 examination.

Will I be exempted from passing the CMFAS exam on the grounds that I am already an existing representative?

You are still required to pass the relevant product knowledge and analysis modules under the CMFAS Examination before you can commence the provision of new financial advisory services, unless there is no applicable CMFAS Examination requirement for the conduct of the additional financial advisory services.

What CMFAS Exam is required for those who want to provide securities and marketing advice on collective investment schemes?

The following CMFAS examination modules are required to be taken and passed. These are the Modules 5,6, and 8. In addition to these, if such representatives will be providing advice on securities and market, they are also required to pass Module 6A and 8A because such investment schemes are considered as Specified Investment Products; and because of that, they fall under the requirement as specified for Modules 6A and 8A. However, if they met the criteria as set out in Paragraph 18B of the FAA Notice on Minimum Entry and Examination Requirements of Licensed Financial Adviser and Exempt Financial Adviser under Notice FAA-N13, they are considered exempted from taking Modules 6A and 8A respectively.

What CMFAS Exam is required for those who intend to provide advice on life policies, including those investment-linked policies?

The following CMFAS examination modules are required to be taken and passed. These are the Modules 5,9, and 9A. However, on the other hand, they are exempted to pass particularly the Module 9A is they meet the requirements as set out in Paragraph 18B of the FAA Notice on Minimum Entry and Examination Requirements of Licensed Financial Adviser and Exempt Financial Adviser under Notice FAA-N13.

Do I have to pass Modules 6A, 8A, or 9A before I can expand my activities in providing financial advisory services?

Yes, an existing appointed representative must pass the relevant CMFAS Examination if he wishes to expand his scope of financial advisory services. However, he will be exempted from the requirement to pass Modules 6A, 8A or 9A if he meets the criteria set out in paragraph 18B of the FAA Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Adviser and Exempt Financial Adviser (Notice FAA-N13).

Should I be granted exemption from passing Module 6A if I’ve been appointed to provide services on Specified Investment Products prior to January 1, 2012?

Yes, an existing appointed representative must pass the relevant Module 6A if they intend to provide financial advisory services on Specified Investment products to non-accredited investors. However, they will be exempted from the requirement to pass Modules 6A if he meets the criteria set out in paragraph 18B of the FAA Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Adviser and Exempt Financial Adviser (Notice FAA-N13).

Final Thought

The CMFAS Examinations can be grueling and challenging. But like every unchartered territory, the only way to overcome such difficulties is to explore here. Hopefully, everything that has been presented here will provide you with enough knowledge and understanding about the dynamics entailed in CMFAS Examination. This will help you pass and even ace the exam.

Dario Ford

Dario is the Senior Customer Success Manager at CMFASExam

Your Ultimate Guide to Everything About CMFAS Exams