CME-5B Complete Review Guide 2026–2027
Every exam topic in a 22-page Arabic PDF, ordered from the heaviest unit to the lightest. The first three chapters alone cover about 84% of the exam questions.
- 22Pages
- 60Key points
- 24Common mistakes
- 48Flashcards
Guide map
Each chapter is one exam unit, ordered by its weight in the real exam.
| Chapter | Unit | Weight | Exam questions | Key points |
|---|---|---|---|---|
| 1 | Rules on the Offer of Securities and Continuing Obligations | 40% | 10 | 15 |
| 2 | Corporate Governance Regulations | 28% | 7 | 15 |
| 3 | Special Purposes Entities | 16% | 4 | 15 |
| 4 | Merger and Acquisition Regulations | 16% | 4 | 15 |
Chapter 1 in full: Rules on the Offer of Securities and Continuing Obligations
40% of the exam, about 10 questions. These are its key points, as in the guide.
- The offer definition covers issuing securities or inviting subscription (Arts. 1 and 3).
- Private-placement advertising documents must carry a prominent statement (Art. 10).
- The Authority may reject a private placement or request more documents.
The rest of chapter 1, on this page
- The issuer notifies the Authority and files private-placement documents under the Rules.
- Secondary-market restrictions after a private placement usually end on listing.
- Prospectus duties rest on the offeror and underwriter (Arts. 23–29).
- The prospectus must disclose the stabilisation manager, period and restrictions.
- A purchase option lets the manager buy the over-allotted shares at the subscription price.
- Stabilisation instructions require records of stabilisation trades.
- Capital increase routes: rights issue, capitalisation of reserves, debt conversion or share issuance for asset acquisition (Arts. 53–57).
- Capitalisation converts eligible reserves into share capital.
- Parallel Market issuers remain bound by continuing obligations after listing (Art. 89).
- Continuing obligations include publishing financial statements on the required timetable.
- Directors, senior executives and substantial holders are subject to share-dealing restrictions (Arts. 67–69).
- Capital may also be reduced under the statutory assembly and Authority approvals.
Common mistakes in this chapter
- Do not mix the two limited-offer limits: 100 offerees (excluding institutional and qualified clients) and SAR 200 thousand per offeree.
- The 5% notice is due on the third trading day after the transaction, not immediately nor within a week.
- Private-placement restrictions (Art. 14) bind the subscriber and later transferees.
- Investment fund units are carved out of OSCO and follow fund regulations.
- A public offer of shares needs a prospectus approved by the Authority.
- Over-allotment is capped at 15% of shares offered and stabilisation lasts 30 calendar days from first listing day.
The other chapters are in the full guide
One purchase · lifetime access · review guide included
7-day review plan
The chapters are spread over 6 days by weight so each day carries a similar load. Day 7 is a full exam.
Day 1 · 40% of the exam
Chapter 1: Rules on the Offer of Securities and Continuing Obligations
Day 2 · 28% of the exam
Chapter 2: Corporate Governance Regulations
Day 3 · 16% of the exam
Chapter 3: Special Purposes Entities
Day 4 · 16% of the exam
Chapter 4: Merger and Acquisition Regulations
Day 5
Full mock exam: 25 questions in 30 minutes, then review the common mistakes in the units where you lost marks.
How many correct answers do you need?
- Pass mark 68%17 correct out of 25
Before you read: see your score today
10 free questions from the main units, no sign-up. Then you know which chapter to start with.
Try 10 free questions and see your levelA look at each chapter
The first three key points of each chapter, as they appear in the guide (in Arabic in the PDF).
Chapter 1: Rules on the Offer of Securities and Continuing Obligations
- The offer definition covers issuing securities or inviting subscription (Arts. 1 and 3).
- Private-placement advertising documents must carry a prominent statement (Art. 10).
- The Authority may reject a private placement or request more documents.
Chapter 2: Corporate Governance Regulations
- The board shapes strategy, oversees performance and bears ultimate responsibility.
- Board composition includes diverse competencies and independent members.
- A member avoids voting where his interest conflicts with the company's.
Chapter 3: Special Purposes Entities
- An SPE is an entity set up for a specific purpose, such as issuing…
- The SPE keeps its assets separate from the sponsor's.
- The trustee represents holders' interests toward the SPE.
Chapter 4: Merger and Acquisition Regulations
- Mergers involving a listed entity engage the Authority's process and approvals.
- Relevant private transactions require announcements under the Rules.
- The Regulations expect independent advice for the offeree board.
The full guide comes with lifetime access
The full guide (22 pages) is included with lifetime access to this exam, together with every question and full mock exam. Chapter 1 is free for everyone.
Questions about the guide
Is the guide free?
Chapter 1 is free to read on the guide page. The full guide comes with lifetime access to this exam; 7-day access does not include it.
Is it up to date for 2026–2027?
Yes. Unit weights and exam facts follow what the exam body last published, and the last check date is printed in the guide. If the standards change we update the file and buyers download the new version.
Does the guide have questions?
No. The guide covers key points and common mistakes; scoring, weak-area practice and full mock exams are on the site.
Can I read it on my phone?
Yes. A5 pages in a single column, with chapters linked from the contents.
- Pages
- 22
- Edition
- 1448 AH · 2026–2027
- Language
- Arabic
- Last updated
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