Saudi CMA Qualification Exams Guide: CME-1 to CME-5 Pathways

Table of Contents

• • How the A/B Structure Works
• • CMA Qualification Pathway Map
• • CME-1: General Foundation
• - CME-1A — International Introduction to Securities and Investment
• - CME-1B — Saudi Capital Market Rules and Regulations, General Chapter
• • CME-2: Compliance, AML and Counter-Terrorist Financing
• - CME-2A — Global Financial Compliance
• - CME-2B — Saudi Compliance, AML and CTF Rules
• • CME-3: Securities Brokerage
• - CME-3A — Securities
• - CME-3B — Saudi Rules for Brokers
• • CME-4: Wealth and Asset Management
• - CME-4A — International Certificate in Wealth & Investment Management
• - CME-4B — Saudi Rules for Asset Managers
• • CME-5: Corporate Finance
• - CME-5A — Corporate Finance Technical Foundations
• - CME-5B — Saudi Rules for Corporate Finance
• • How to Choose the Correct Route
• • A Better Study Method for Paired Exams
• • Current-Information Checklist

Quick answer: Saudi CMA qualification pathways commonly pair an A module covering international or technical knowledge with a B module covering Saudi regulations for the same professional function. For example, CME-4 combines ICWIM (CME-4A) with Saudi asset-management rules (CME-4B); passing only one half may not complete the professional certificate.

Use the pathway table below for navigation, then verify the current requirement for your role through:

• the CMA Qualification Examinations Guide; and
• the Financial Academy’s current professional-exam catalogue.

Requirements, names, availability and fees can change. Treat those official pages—and instructions from your employer—as authoritative.

How the A/B Structure Works

The current framework commonly uses:

• an A module for international or technical subject knowledge; and
• a B module for Saudi rules and regulations connected to the function.

Passing one module can demonstrate progress, but the complete professional certificate usually requires the specified combination. Never assume that passing the technical half alone satisfies a role’s registration requirement.

CMA Qualification Pathway Map

Pathway	Technical or international module	Saudi regulatory module	Professional focus
CME-1	CME-1A: International Introduction to Securities and Investment	CME-1B: Saudi Capital Market Rules and Regulations – General	Broad entry route and general registered functions
CME-2	CME-2A: Global Financial Compliance	CME-2B: Saudi Capital Market Rules and Regulations – Compliance, AML and CTF	Compliance and financial crime
CME-3	CME-3A: Securities	CME-3B: Saudi Capital Market Rules and Regulations – Brokers	Brokerage and securities dealing
CME-4	CME-4A: International Certificate in Wealth & Investment Management	CME-4B: Saudi Capital Market Rules and Regulations – Asset Managers	Portfolio and asset management
CME-5	CME-5A: Corporate Finance Technical Foundations	CME-5B: Saudi Capital Market Rules and Regulations – Corporate Finance	Corporate finance

This table is a navigation aid, not a substitute for a role assessment. The CMA guide links combinations to professional certificates and registered functions; your employer may also impose sequencing or completion deadlines.

CME-1: General Foundation

CME-1A — International Introduction to Securities and Investment

CME-1A builds broad market knowledge. The Financial Academy describes a ten-chapter international syllabus covering the financial-services industry, the economic environment, equities, bonds, other assets and markets, derivatives, investment funds, regulation and ethics, other financial products, and financial advice.

It is the technical foundation: candidates learn how markets and instruments work before applying the Saudi regulatory framework.

CME-1B — Saudi Capital Market Rules and Regulations, General Chapter

CME-1B focuses on the Saudi market’s regulatory architecture. Current Financial Academy material covers areas including securities business, licensing, capital market institutions, investment funds, offering and disclosure, corporate governance, AML/CTF, controls and conflicts of interest.

Together, CME-1A and CME-1B form the current CME-1 introduction-to-securities-and-investment certificate. The Financial Academy states that the pair is an essential requirement across many CMA-regulated registration categories; candidates must still confirm the rule that applies to their exact role.

Start here:

• CME-1A preparation
• CME-1B preparation
• Detailed CME-1 study guide

CME-2: Compliance, AML and Counter-Terrorist Financing

The compliance pathway combines international compliance principles with the Saudi rules that apply to compliance, anti-money laundering and counter-terrorist financing.

CME-2A — Global Financial Compliance

This module develops the international technical foundation: regulatory objectives, governance, compliance functions, conduct, financial crime controls and the practical responsibilities of compliance professionals.

CME-2B — Saudi Compliance, AML and CTF Rules

The B module places those principles into the Saudi capital-market context. Candidates should expect detailed regulatory language, obligations, escalation processes and function-specific controls.

Start here:

• CME-2A preparation
• CME-2B preparation
• SAR and MLRO study guide

CME-3: Securities Brokerage

The brokerage pathway combines product and market mechanics with Saudi broker rules.

CME-3A — Securities

This technical unit focuses on securities markets, products, trading and related risks. Candidates need more than definitions: they should understand how instruments are issued, traded, settled and used.

CME-3B — Saudi Rules for Brokers

The regulatory module applies Saudi requirements to brokerage activity. This is where technical knowledge meets conduct, client, operational and market obligations.

Start here:

• CME-3A preparation
• CME-3B preparation

CME-4: Wealth and Asset Management

CME-4A — International Certificate in Wealth & Investment Management

CME-4A covers financial services, regulation, asset classes, collective investments, fiduciary relationships, economics and investment analysis, and investment management. It connects investment products with client needs and portfolio construction.

CME-4B — Saudi Rules for Asset Managers

The B module adds the local rules relevant to fund and portfolio management. Candidates should be able to distinguish international investment concepts from Saudi regulatory obligations rather than blending them together.

Start here:

• CME-4A preparation
• CME-4B preparation
• ICWIM exam guide

CME-5: Corporate Finance

CME-5A — Corporate Finance Technical Foundations

CME-5A assesses quantitative methods, financial-statement analysis, capital structure, valuations, corporate transactions and documentation. The current CISI syllabus specifies 50 multiple-choice questions in one hour.

CME-5B — Saudi Rules for Corporate Finance

The regulatory half connects technical corporate-finance work with Saudi rules governing the function. Candidates should check the current syllabus carefully because a generic M&A course will not cover the local regulatory component.

Start here:

• CME-5A preparation
• CME-5B preparation
• Corporate Finance Technical Foundations guide

How to Choose the Correct Route

Before paying for an exam or preparation course:

1. Identify the function, not just the industry. “I work in finance” is not specific enough. Clarify whether the role concerns compliance, brokerage, asset management, corporate finance or a general registered function.
2. Ask for the required certificate and modules in writing. Confirm the exact A/B combination with the employer’s compliance or HR team.
3. Check the current CMA guide. Make sure the role mapping has not changed.
4. Check the Financial Academy catalogue. Confirm language, availability, registration and current delivery information.
5. Download the syllabus for each module. The A and B modules require different preparation methods.
6. Plan for the complete pathway. Avoid preparing for one half without knowing when and how you must complete the other.

A Better Study Method for Paired Exams

Do not study the A and B modules as one undifferentiated body of facts.

For the A module, build conceptual maps:

• market participants and instruments;
• product characteristics and risk;
• international principles and professional practice; and
• calculations or technical processes.

For the B module, build regulatory maps:

• regulator and legal source;
• scope and responsible person;
• required action;
• timing, threshold or record;
• escalation and reporting; and
• consequence of non-compliance.

Then connect them using scenarios. For example: first determine what a product or transaction is, then identify which Saudi obligation applies and who must act.

Current-Information Checklist

Before relying on any online directory, verify:

• the official exam name and code;
• whether the module is still active;
• the current syllabus version;
• the required module combination;
• language and delivery availability;
• the role or registration category involved; and
• whether your employer requires completion by a particular date.

The CMA and Financial Academy sources should always override a third-party article. This page is designed to help you navigate those sources and select the right Exams Academy preparation page—not to replace a regulatory or employment determination.