CMSRL: choose your exam pathway
The Capital Markets Services Representative’s Licence (CMSRL) authorises an individual to carry on specified regulated activities on behalf of a principal. The SC Licensing Examinations (SCLE), administered by SIDC, provide the relevant examination modules. Your intended activity determines the combination to prepare for.
Based on Table 3 of the Securities Commission Malaysia Licensing Handbook, revised 30 September 2026. Confirm your qualifications, experience, principal sponsorship and any exemptions with your employer and the current handbook before booking. Passing examinations does not by itself grant a licence.
| Regulated activity | SCLE module combinations |
|---|---|
| Dealing in securities | Module 6 + Module 7 or Module 6 + Module 18 or Module 7 + Module 17 or Module 17 + Module 18 |
| Dealing in derivatives | Module 14 + Module 16 or Module 17 + Module 18 or Module 14 + Module 17 or Module 16 + Module 18 |
| Portfolio fund management | Module 9 + Module 10 |
| Advising on corporate finance | Module 12 + Module 19 or Module 12 + Module 19A + Module 19B |
| Investment advice | Module 12 + Module 19 or Module 12 + Module 19A |
Related qualification routes
- Financial planning: the handbook specifies qualification and membership requirements rather than a dedicated SCLE module. Compare CFP, RFP, Shariah RFP and IFP preparation against your intended route.
- Unit trust and PRS consultants: FIMM’s Combined Examination (FCE) combines the former CUTE and CPRE examinations. Consultant registration is separate.
- Investment-product sales and treasury: IPPC and PKMC cover different professional requirements. Select the programme relevant to your role.
- Additional derivatives licensing: eligible securities representatives should check CCMP Dealing in Derivatives and the handbook’s multiple licence conditions.
Official references
- SC licensing and registration: current handbook and amendments
- SIDC SC Licensing Examinations
- FIMM Combined Examination FAQ
- AICB / ACI-FMAM IPPC and PKMC programmes
MASExam provides independent study materials. Study access covers the selected preparation track; provider training, official examinations, membership and licensing applications are separate.
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