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Monetary Authority of Singapore

CMFAS RES 1 study map for securities dealers

How Singapore RES 1A, RES 1B, and exchange add-on analysis fits securities and CIS dealing representatives, SGX-ST member status, and MAS notification.

Exam focus

Rules, Ethics and Skills route for dealing in securities and/or units in collective investment schemes.

Who this helps

  • - Securities dealing representatives
  • - CIS distribution teams
  • - SGX-ST member dealing staff
  • - Brokerage compliance reviewers

Why this matters

  • - IBF's current CMFAS filter separates securities/CIS dealing by principal type, including SGX-ST member and non-approved-exchange member scenarios.
  • - The new CMFAS structure includes RES 1A/1B style analysis and possible exchange add-ons for securities dealing routes.
  • - The module decision should be tied to product, exchange membership, principal route, and representative notification.

Study map

Securities dealing facts

  • - Map whether the person handles securities, CIS units, order taking, fund distribution, client communications, or execution support.
  • - Separate SGX-ST member, non-exchange member, fund manager, and exempt financial institution contexts.

Evidence file

  • - Keep RES module evidence with product scope, client type, role description, supervisor, notification notes, and MAS FID/register check.
  • - Check whether CM-EIP, CM-SIP, or CM-CMP product-knowledge modules are also relevant.

Licensing tie-in

  • - RES 1 evidence supports a securities/CIS dealing representative route; it does not authorise the individual independently.
  • - The principal's CMS licence or exemption, product scope, and exchange status drive the final route.
  • - Fund distribution and dealing in CIS units can overlap with fund marketing, advice, and client-classification controls.

Booking and sponsorship

  • - Use IBF's register page for the current module filter and IBF's exam FAQ for registration, study-guide access, and result slip details.
  • - Use MAS SFA 04-N22 and related FAQs before relying on exemptions or transition arrangements.
  • - Confirm the principal can support notification before scheduling client-facing activity.

Verify before studying

  • - Whether the principal is an SGX-ST member, non-exchange member, fund manager, or exempt financial institution.
  • - Whether products are securities, CIS units, derivatives, FX, or a combined product set.
  • - Whether product-knowledge modules or add-on modules are needed.

Common mistakes

  • - Selecting a securities dealing module without checking the principal's exchange-member status.
  • - Ignoring CIS/fund marketing and advice boundaries.
  • - Assuming the exam pass alone permits dealing before MAS notification.

Disclaimer

Information on LicenseCompare is for general educational purposes only and does not constitute legal, regulatory, financial, tax, investment, or professional advice. Licensing requirements depend on facts and change over time. Always consult official regulator materials and qualified professional advisers.