CME-4B – Saudi Asset Managers Rules and Regulations
Practise fund regulations and market conduct with explanations for every option.
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- 25 questions in 30 min, like the real test
- 514 questions covering the main scoring topics, with explanations
- 68% pass mark, with targeted practice on your weak spots
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A manager outsources preparation of fund terms to a specialist. A misleading statement is discovered. What happens to the manager’s regulatory responsibility?
All 10 free questions with answers and an explanation for every option
What you get
- 514questions in the bankPractise with the answer shown right away, or sit a full timed mock
- 3unitsSplit by the exam syllabus
- 30flashcardsTo lock in terms and definitions
- 91quick review pointsEach unit in a few key lines
Unit map
- 01Investment Funds Regulations14 questions
- 02Real Estate Investment Funds Regulations8 questions
- 03Market Conduct Regulations3 questions
Exam facts
CME-4B – Saudi Asset Managers Rules and Regulations — Number of questions: 25 questions. Exam time: 30 minutes. Pass mark: 68%. Exam fee: SAR 1,700. Calculator: On-screen calculator. Source: Financial Academy (Last verified: 2026-11-03). Question bank: full mock exams of 25 questions in 30 minutes, like the real test with a result for every unit, plus 514 explained questions across 3 units, every option explained, a review of your mistakes, and two ways to practise: see the answer right away, or sit a full timed mock. Free questions: a 10-question diagnostic test covering the main units, no sign-up; at the end we compare your score with the pass mark and show your weakest units.
- Exam language
- Arabic or English
- Number of questions
- 25 questions Source
- Exam time
- 30 minutes Source
- Pass mark
- 68% Source
- Exam fee
- SAR 1,700 Source
- Calculator
- On-screen calculator Source
Last verified: 2026-11-03
How to register
- Select CME-4B on the Financial Academy website and choose your exam language.
- Follow the registration, booking and payment steps.
Exam body
Financial Academy: Official website: Financial Academy
Study guides
Frequently asked questions
Can I try CME-4B questions for free?
Yes. Free questions: a 10-question diagnostic test covering the main units, no sign-up; at the end we compare your score with the pass mark and show your weakest units. The free practice test page lists the same questions with answers and an explanation for every option. The rest of the questions and the full mock exams come with a pass from SAR 26.
What makes this CME-4B question bank different?
Question bank: full mock exams of 25 questions in 30 minutes, like the real test with a result for every unit, plus 514 explained questions across 3 units, every option explained, a review of your mistakes, and two ways to practise: see the answer right away, or sit a full timed mock. Every question is reviewed and referenced, ready to practise on your phone. Try the free questions and read the explanations before buying full access.
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Study material sample: Investment Funds Regulations
Summary
This unit covers fund management, custody, governance, fund types, offerings, reporting and unit dealing. Learn each rule with its fund type and responsible party. The exam reference used here is CISI workbook 1.10 (August 2026), printed pp.3–29, compared with the Investment Funds Regulations amended on 24 November 2025. Material differences remain unresolved pending exam-provider guidance; citing current law does not automatically establish the exam answer.
What the exam focuses on
- First classify the fund as public, private or foreign; then distinguish manager, operator, custodian, distributor and board.
- For every percentage, identify the denominator: fund NAV, issuer securities or fund revenue.
- Match reporting duties to fund type and distinguish business days, trading days, days and months.
Show 1 more
- Review version differences beside each rule: liquidation, private reporting, valuation point and substantial-holding notification recipient. Do not memorise them as settled answers.
Common traps
- The operator calculates valuation and price; the manager sets policy and bears management and disclosure duties; the custodian safeguards and segregates assets. Keep the roles distinct.
- Specialised funds have their own rules; do not automatically apply an ordinary public-fund cap to a money market fund or fund of funds.
- SAR200,000 in the offering or transfer rules discussed is a maximum, not a minimum investment ticket.
Show 2 more
- Four version differences are marked in place: liquidation six/twelve months; private reporting 90 working days/90 days; valuation after request/after deadline; holding notice to Authority/Exchange. Neither side is used as a definitive exam-answer card.
- Details labelled “current-law supplement” explain the legal comparison; they do not alone establish inclusion in the workbook 1.10 exam.
Try the flashcards
Tap a card to see the answer
Does delegation discharge the manager?
No. Responsibility for management, offering and terms remains with it. Workbook pp.3–4; Art.9.
Which language prevails over a conflicting financial-statement translation?
Arabic. Workbook p.4; Art.11.
Does custody make the custodian the asset owner?
No. Assets belong collectively to unitholders. Workbook p.6; Art.26.
Nine public-fund directors: minimum independent directors?
Three: the greater of two and one third of nine. Workbook p.9; Art.39(b).
Does the public-fund board approve every investment trade?
No. Material-contract approval excludes contracts implementing underlying investment decisions. Workbook p.10; Art.40(1).
How does a feeder differ from a fund of funds?
A public feeder invests in one fund; a fund of funds needs at least three, with at least 5% in each of the three. Workbook pp.15–16; Arts.57–58.
When may a money market fund use derivatives?
For hedging only, capped at 5% of NAV. Workbook p.15; Art.56(b).
Who sends foreign-fund reports to Kingdom investors?
The distributor, also ensuring their direct documentary rights. Workbook p.23; Art.105(1).
Why you can trust these questions
- Published questions: 514. We reviewed every one before publishing it: the answer, the explanation of each option and the source.
- Exam facts last checked against the organiser’s website: 2026-11-03. We check them again every three months and two weeks before each test.
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