Corporate Finance

CISI Mergers & Acquisitions and Market Regulations Exam Preparation (UK)

Structured preparation for the Level 6 MAMR unit in the CISI Diploma in Corporate Finance, covering all five current syllabus elements and the case-study assessment structure.

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CISI Mergers & Acquisitions and Market Regulations

Course syllabus information reviewed for 2026. Always check the awarding body’s latest official syllabus and candidate updates before booking or sitting your exam.

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Prepare for the CISI MAMR exam

Mergers & Acquisitions and Market Regulations is the Level 6 third unit in the current route to the CISI Diploma in Corporate Finance. It develops the transaction, financing and regulatory judgement required to evaluate acquisitions, disposals, demergers and listed-company obligations.

This course page follows the latest official syllabus structure reviewed for 2026. The 70-minute examination contains 30 questions: 15 standalone questions and three case studies with five questions each. Question styles may include multiple choice, drag and drop, numerical answer and multiple response questions.

Exam Format & Details

Assessment Computer-based mixed-format examination with case studies
Duration 70 Minutes
Level CISI Level 6
Total Qualification Time 100 hours

Key Benefits

End-to-end acquisition analysis

Connect acquisition strategy, due diligence and public-offer execution with the documents and decisions used in practice.

  • Target selection and synergies
  • Private and public acquisition processes
  • Takeover Code and transaction documents

Deal structure and value effects

Evaluate how purchase structure, consideration and financing affect the acquirer and target shareholders.

  • Share and asset purchases
  • Cash, shares, loan stock and deferred consideration
  • EPS, ROCE, ROIC and merger gains

Listed-market regulation

Prepare for the rules and ethical considerations that govern listed and quoted-company transactions.

  • UK Listing Rules and prospectus requirements
  • DTR, UK MAR and AIM Rules
  • Governance, financial crime and regulatory intervention

Syllabus

Module 1: Making Acquisitions

M&A strategy, target selection, synergies, due diligence, private and public acquisition processes, the Takeover Code, agreed and hostile offers, and transaction documentation. The fixed standalone section allocates four questions to this element.

  • M&A strategy and alternatives
  • Target selection and synergy analysis
  • Private-company due diligence
  • Public offers, schemes and the Takeover Code

Module 2: Deal Structuring and Financing

Share and asset purchases, acquisition pricing, forms of consideration, financing documentation, earn-outs, variable rates, deal effects and the allocation of merger gains. The fixed standalone section allocates three questions to this element.

  • Share purchase versus asset purchase
  • Control premia and marketability discounts
  • Consideration and financing options
  • EPS, financial risk, ROCE, ROIC and merger gains

Module 3: Disposals and Demergers

Disposal motivations and sale processes, purchaser selection, auctions, and the benefits, problems and implementation methods associated with demergers. The fixed standalone section allocates three questions to this element.

  • Corporate and personal disposal motivations
  • Traditional and alternative sale methods
  • Auction processes
  • Dividend, scheme and liquidation demergers

Module 4: Main Regulations for Listed and Quoted Companies

UK Listing Rules, prospectus requirements, continuing obligations, UK MAR, significant and related-party transactions, reverse takeovers and AIM Rules. The fixed standalone section allocates two questions to this element.

  • UK Listing Rules and sponsors
  • Prospectus approval and publication
  • DTR, UK MAR and continuing obligations
  • AIM Rules for Companies

Module 5: Other Regulatory and Ethical Considerations

The UK regulatory environment, ethics, governance, company and financial-market legislation, financial crime, competition, pensions and national-security intervention. The fixed standalone section allocates three questions to this element.

  • FCA and market structures
  • Professional ethics and corporate governance
  • Companies Act, FSMA and conduct requirements
  • Market abuse, financial crime and regulatory intervention

Who Is This For?

Candidates preparing for the CISI Mergers & Acquisitions and Market Regulations examination
Professionals progressing through the Diploma in Corporate Finance
Corporate-finance practitioners involved in acquisitions, disposals or listed-company transactions
Candidates who have completed the preceding FRFS and SFCIV units or qualify through an accepted route

Preparation centre

Use these connected guides for the syllabus, exam format, booking and revision strategy.

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Frequently Asked Questions

Mergers & Acquisitions and Market Regulations is a 70-minute computer-based examination containing 30 questions. It may use multiple choice, drag and drop, numerical answer and multiple response formats. Computer-based tests may also include up to 10% additional unidentified trial questions with proportionately more time.

The paper has 15 standalone questions plus three case studies with five questions each. The standalone questions are allocated 4, 3, 3, 2 and 3 across the five syllabus elements, while each case study may cover any element.

MAMR is the Level 6 third on-demand unit in the current Diploma route. It follows Level 3 Financial Reporting and Financial Statements Analysis and Level 4 Sources of Finance, Capital Investments and Valuations, before Corporate Finance Strategy and Advice.

It covers making acquisitions, deal structuring and financing, disposals and demergers, regulations for listed and quoted companies, and other regulatory and ethical considerations.

Checkout is open while the latest learning content and question bank are being completed. Purchasers see the current two-hour completion notice on their dashboard.

No. For UK regulated activities, the firm must map the role to the FCA Training and Competence sourcebook and its appropriate-qualification tables. A CISI course title alone does not establish authorisation for every activity. Confirm the requirement with the employer and regulator before booking.

Use the official CISI booking flow to check remote-invigilation or test-centre availability for CISI Mergers & Acquisitions and Market Regulations. Confirm the current workbook edition and read Candidate Updates before booking.

Exams Academy checkout is displayed in US dollars and the card provider converts it to GBP. The official CISI exam and required workbook are booked and paid for separately at the current CISI price.

🇬🇧 Local market guide

CISI Mergers & Acquisitions and Market Regulations in the United Kingdom: pathway, booking and careers

Review how CISI Mergers & Acquisitions and Market Regulations connects to regulation, qualification pathways, booking, currency and careers in the United Kingdom before paying the official exam fee.

Regulator and qualification pathway

For UK regulated activities, the firm must map the role to the FCA Training and Competence sourcebook and its appropriate-qualification tables. A CISI course title alone does not establish authorisation for every activity.

Financial Conduct Authority

Booking and official examination

Use the official CISI booking flow to check remote-invigilation or test-centre availability for CISI Mergers & Acquisitions and Market Regulations. Confirm the current workbook edition and read Candidate Updates before booking.

Find a CISI test centre

Career and employer context

ICWIM knowledge is relevant to international private banking, client services, wealth operations and entry-level investment-support roles. Regulated UK advice roles may require a different or higher-level qualification.

Price and currency

Exams Academy checkout is displayed in US dollars and the card provider converts it to GBP. The official CISI exam and required workbook are booked and paid for separately at the current CISI price.

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CISI Mergers & Acquisitions and Market Regulations
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