CMFAS M8 Passing Score & Exam Format: The "Short Paper" Trap
M8 is a short exam (50 questions), but the passing score is strict. We break down the 70% cut-off, the 1-hour duration, and why the "Risk" chapter makes it dangerous.
If you are sitting for the Collective Investment Schemes (M8) exam, the format looks deceptively simple.
- Total Questions: 50 MCQs.
- Duration: 1 Hour (60 Minutes).
- Time per Question: 1.2 Minutes.
Many candidates think: "Only 50 questions? I can finish that in 30 minutes."
This is a trap.
Because the exam is short, the weightage per question is high (2%). If you rush through the theory questions and make careless mistakes, you will not have enough buffer to survive the tricky calculation questions in Chapter 4 and 5.
We have put together a free mini-mock exam covering the 5 specific question types that trip up most agents.
Here is the breakdown of the exam mechanics and how to secure your 70%.
✨ At a Glance: M8 Exam Stats
- Passing Score: 70% (35 Correct Answers).
- Fail Score: 68% (34 Correct Answers).
- Question Type: 4-Option MCQ.
- Calculators: Allowed & Mandatory.
The "2% Rule" (Why Accuracy Matters)
In a 100-question exam (like M9), you can get 30 wrong and pass.
In M8, you can only get 15 questions wrong.
If you are weak in Chapter 4 (Risk and Return) and get 5 calculation questions wrong, you have already lost 10% of your score. You are now fighting for your life with a 90% ceiling.
The Strategy: You cannot afford to "punt" the calculation chapters. You need to bank every single mark in the "Easy" chapters (1, 2, 3) to survive the "Hard" chapters (4, 7).
See our full breakdown on the difficulty of the M8 exam here.
The "Calculation" Time Sink
The M8 exam has a surprising amount of math for a "product" paper.
You will see questions like:
> "Calculate the Real Rate of Return given Nominal Rate 5% and Inflation 2%."
> "Calculate the Net Asset Value (NAV) per unit given the Fund Value and Units Outstanding."
Why this is hard:
- Time Pressure: 1.2 minutes per question is tight if you have to use a calculator.
- Distractors: The exam loves to give you extra numbers (e.g., "Management Fee") that you don't need for the specific calculation, just to see if you know the formula.
🧮 Slow at Math?
Our platform's "Practice by Chapter" mode drills you on chapters like Time Value of Money and Risk Ratios so you can solve these questions in under 45 seconds.
👉 Start M8 Calculation Drill
Practice solving multi-step calculations under exam conditions using ExamPrep.sg.
Exam Logistics: What to Expect
- No Negative Marking: Never leave a blank. If you don't know the answer, guess.
- Calculator Policy: SCI does NOT provide calculators. You must bring your own (e.g., Casio FC 100V). You cannot use your phone.
Summary: Speed vs. Accuracy
In passing the M8 exam, the danger is rushing.
Because the paper is short, candidates often race to the finish line and make silly mistakes on definitions.
Don't rush. You have 1.2 minutes. Use them.
Read every option carefully, especially in Chapter 7 (Unit Trusts) where the difference between "Manager" and "Trustee" duties is subtle.
Not sure if you are ready?
Take a free diagnostic quiz on our simulator to test your readiness.
If you are thinking of buying notes from Carousell, think again. Read our guide on the best M8 mock exams and study guides here.
Common Questions on M8 Format
By The ExamPrep.sg Team
Singapore's leading CMFAS and SCI exam preparation platform, helping thousands of candidates pass their financial adviser exams on the first try.
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