There are hundreds and thousands of professions in the world, and millions and billions of people opt for these professions according to their areas of interest, choice, the scope of work and prospects for earning. Among the list of some high receiving areas, Capital Markets secure a prominent place due to their lucrative returns and massive investment available for the market. Indeed, many people are willing to join this profession and become an advisor on the capital markets.
For the interested people, Singapore is the destination where they can appear in the Capital Markets and Financial Advisory Services (CMFAS) Examinations and get the professional pass to practice as an advisor on the capital markets. CMFAS is a licensing examination that allows an advisory practice to the successful candidate. CMFAS has several modules, and after completing relevant modules; you have to lodge a notification with the Monetary Authority of Singapore (MAS) before you can start regulated activities.
CMFAS examinations are administered by the Singapore College of Insurance (SCI) for the financial advisory and insurance industry. The interested professionals should know the relevant details about the CMFAS Examinations so that they are clear about whom to approach and when to approach to get the license. CMFAS License offers several benefits to the professionals who want to make their career in the capital markets and financial advisory services. It’s a world-recognized license for the practitioners and brings a lot of credibility on their portfolio. CMFAS license opens up many opportunities on the successful incumbents; they can get an impressive job at some advisory firm, or they can offer advisory services on their own and make their clients independently.
CMFAS is an examination for professionals, and it demands professionalism of high standard to get through in the exams. We are revealing the six secrets for passing the CMFAS Examination with you here that may help the interested candidates to adopt the right approach.
The time required for preparation
It may be an easy decision for you to decide whether you want to attempt CMFAS Examination in this term or not. The more difficult one is to determine how much time you would require to prepare yourself for the examination. As discussed earlier, this exam belongs to professionals, and the majority of candidates are those who are already doing jobs somewhere and want to increase their qualification by attempting CMFAS. You have to carefully calculate the time you may secure after your job hours and on weekends and dedicate to the studies. You also have to factor in the workload days at your office where you have to work long hours and exhaust your mind entirely for the day. According to a rough estimate, a professional may require 2-3 months to prepare sufficiently for appearing in the CMFAS exams. However, this preparation time may vary depending upon your skills and hours you dedicate for the preparation.
There is a shortcut to almost everything, but you have to have a professional approach to make your chances of success bright in the alternatives. Similarly, there is a fast-track solution available to prepare for the CMFAS Exams in case you are close to the examination date and desperate to attempt in this term. The approach is to keep the study manual lying in the bookshelf and directly jump to the practice questions and past papers where you start attempting the Multiple Choice Questions (MCQs) and get yourself familiar with the issues that are likely to come in the exams. Instead of reading the long text in the study manuals, practicing the questions would give you a fair idea about the course outline and let you prepare quickly in 2-3 weeks.
Select the right module
The CMFAS Examination has several modules for different subfields you want to excel in. Therefore, you should have complete knowledge about the module you are attempting. You should ensure that the module’ is relevant to your field and will offer you incentives you are looking for in the future. There may be changes in modules by the authorities such as the Monetary Authority of Singapore issued the revised Securities and Futures Act and Financial Advisers Act Examination Notices to announce the new CMFAS examination for representatives who deal in Specified Investment Products (SIPs) in October 2011.
Get familiarized with the exam pattern
You have done all and finished reading the heavy study manuals, but all of these efforts can go in vain if you are not familiar with the examination pattern. The most important key to success in any examination is familiarization with the exam pattern. You should know that the CMFAS Examination has a set pattern of 100 MCQs across all the modules, and the exam is computer-based. The duration of the exam is 2 hours; however, the passing marks vary from 70% to 75% in all modules. In 2 hours duration, you have exact 1.2 minutes for every question to answer, and it requires ample study and practice.
Read questions carefully
We know MCQs looks very simple and straight forward to answer; and when you are well prepared, you feel more confident in attempting the problem quickly and jump to the next one. This confidence may be reasonable but it takes no time to turn into overconfidence and gives you the shock of your life. Remember, MCQs are not as simple as they look. You must read every question at least twice or thrice before attempting, so there remains no confusion in understanding.
Selection of right preparation guide
You may find several preparation guides, video tutorials, and online trainers to get prepared for the CMFAS Examination. All may be good but who suits the best for your study style may be the best choice for you. If you are preparing for the CMFAS Module 6A, you may find the best practice material here and get through in flying colors like many others who have already done.
We know you, being a professional, are eager to attempt the CMFAS Examination, but you should follow the six secrets for getting through in the CMFAS that have been outlined above to guide you to the path of success.
Table of contents
- The time required for preparation
- Fast-track preparation
- Select the right module
- Get familiarized with the exam pattern
- Read questions carefully
- Selection of right preparation guide