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100+ Free Saudi CME-2B Practice Questions

Pass your Saudi CME-2B — Compliance and AML/CTF Rules and Regulations (Saudi CMA) exam on the first try — instant access, no signup required.

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Key Facts: Saudi CME-2B Exam

Two modules

CME-2 splits into CME-2A (international compliance) and CME-2B (Saudi-specific); both must be passed

Capital Market Authority - CME Qualification Examinations

About 25 questions

CME-2B is a multiple-choice module sat in 30 minutes at a Financial Academy test centre

Financial Academy - CME-2B Exam Details

70% pass

CME-2B requires the 70% passing standard, shown as a passing mark of 17

Financial Academy - CME-2B Exam Details

SAR 1,700

The CME-2B exam fee paid to the Financial Academy

Financial Academy - CME-2B Exam Details

Royal Decree M/20

Saudi Anti-Money Laundering Law issued in 2017, with implementing regulations the same year

Saudi Anti-Money Laundering Portal (aml.gov.sa)

10 years

Minimum record-keeping period for CDD and transaction records under the Saudi AML Law

Saudi Anti-Money Laundering Law and Implementing Regulations

SAFIU

Suspicious transaction reports are filed with the Saudi Arabia Financial Investigation Unit

Saudi Arabia Financial Investigation Unit (SAFIU)

100

Free original CME-2B practice questions available here

OpenExamPrep

Saudi CME-2B is the Saudi-specific module of the CME-2 Compliance and AML/CTF qualification run by the Financial Academy for the Capital Market Authority (CMA). The exam is about 25 multiple-choice questions in 30 minutes, with a 70% passing standard (a passing mark of 17) and a fee of SAR 1,700. It covers CMA regulations — Financial Institutions, Investment Funds, Market Conduct, Corporate Finance and Investment Accounts Instructions — plus the Saudi Anti-Money Laundering Law and the Law of Combating Crimes of Terrorism and its Financing. Candidates must pass both CME-2A and CME-2B to obtain the CME-2 certificate, the requirement for leading compliance or acting as an MLRO. This 100-question bank gives original Saudi-specific practice with full explanations.

Sample Saudi CME-2B Practice Questions

Try these sample questions to test your Saudi CME-2B exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which Saudi authority is primarily responsible for regulating capital market institutions, securities firms and investment funds?
A.The Saudi Central Bank (SAMA)
B.The Capital Market Authority (CMA)
C.The Ministry of Commerce
D.The Saudi Arabia Financial Investigation Unit (SAFIU)
Explanation: The Capital Market Authority (CMA) is the government body that regulates and develops the Saudi capital market, including securities firms (capital market institutions) and investment funds, under the Capital Market Law. SAMA supervises banks and insurers; the CMA supervises securities activity.
2Under the Saudi Capital Market Law, which body supervises banks while the CMA supervises securities firms?
A.The Saudi Central Bank (SAMA)
B.The Financial Academy
C.Tadawul (the exchange)
D.The General Authority of Zakat and Tax
Explanation: The Saudi Central Bank (SAMA) is the prudential supervisor of banks, finance companies and insurers, while the CMA supervises securities firms and the capital market. Candidates must keep the two regulators distinct.
3What does the abbreviation MLRO stand for in the context of a Saudi capital market institution?
A.Market Liquidity Risk Officer
B.Money Laundering Reporting Officer
C.Managed Listing Registration Office
D.Mandatory Licensing Review Officer
Explanation: MLRO stands for the Money Laundering Reporting Officer (also called the Anti-Money Laundering Reporting Officer). This is the person responsible for receiving internal reports of suspicion and filing suspicious transaction reports with SAFIU. CME-2 is the qualification requirement for those acting in this role.
4A capital market institution receives an internal report that a client transaction has no apparent economic purpose and is inconsistent with the client's known business. To which body must any resulting suspicious transaction report be filed?
A.The Capital Market Authority
B.The Saudi Arabia Financial Investigation Unit (SAFIU)
C.The Ministry of Commerce
D.Tadawul
Explanation: Suspicious transaction reports (STRs) in Saudi Arabia are filed with the Saudi Arabia Financial Investigation Unit (SAFIU), the national financial intelligence unit that receives, analyses and disseminates STRs. SAFIU then refers matters to competent law-enforcement authorities.
5Under the Saudi AML framework, when must a financial institution file a suspicious transaction report?
A.Only when the transaction exceeds SAR 60,000
B.Whenever there are reasonable grounds to suspect money laundering, regardless of the amount
C.Only after a court has issued a freezing order
D.Only at the end of each calendar quarter
Explanation: An STR must be filed whenever there are reasonable grounds to suspect that funds represent proceeds of crime or relate to money laundering or terrorism financing, regardless of the transaction value. The duty is triggered by suspicion, not by a monetary threshold.
6For how long must a capital market institution generally retain customer due diligence and transaction records under the Saudi AML Law and its Implementing Regulations?
A.Not less than 10 years
B.Not less than 3 years
C.Not less than 1 year
D.Only until the account is closed
Explanation: The Saudi AML Law and its Implementing Regulations require records of customer identity, accounts, correspondence and transactions to be kept for not less than 10 years from the end of the business relationship or the date of the transaction. This supports later investigation.
7The Saudi Anti-Money Laundering Law was issued by which instrument?
A.Royal Decree No. M/20 (2017)
B.A CMA board resolution of 2003
C.A Tadawul listing rule
D.A SAMA circular of 2010
Explanation: The current Saudi Anti-Money Laundering Law was issued by Royal Decree No. M/20 dated 2/5/1439 AH (corresponding to 26/10/2017), with its Implementing Regulations issued shortly afterwards. The reform aligned the framework with updated FATF recommendations.
8What is 'tipping off' under the Saudi AML framework?
A.Paying a referral fee to a broker
B.Disclosing to a customer or third party that a suspicious transaction report has been or will be filed
C.Rounding a client's account balance
D.Reporting a transaction to SAFIU
Explanation: Tipping off is informing a customer or any third party that a suspicious transaction report has been, is being, or will be filed, or that an investigation is under way. It is prohibited because it could prejudice the investigation, and it carries penalties.
9Which step is a core element of customer due diligence (CDD) under the Saudi AML framework?
A.Guaranteeing the customer's investment returns
B.Identifying and verifying the customer and any beneficial owner
C.Publishing the customer's identity in the press
D.Waiving identification for corporate clients
Explanation: CDD requires identifying the customer and verifying their identity using reliable documents, and identifying and taking reasonable measures to verify any beneficial owner. It also includes understanding the purpose of the relationship and conducting ongoing monitoring.
10When is enhanced due diligence (EDD) required under the Saudi AML framework?
A.For all customers without exception
B.For higher-risk customers and relationships, such as politically exposed persons
C.Only for customers who request it
D.Never, because standard CDD is always sufficient
Explanation: Enhanced due diligence applies to higher-risk situations, including politically exposed persons (PEPs), customers from higher-risk jurisdictions and complex or unusually large transactions. EDD includes obtaining senior-management approval and establishing the source of funds and wealth.

About the Saudi CME-2B Exam

CME-2B is the Saudi-specific module of the CME-2 Compliance and Anti-Money Laundering qualification administered by the Financial Academy for the Capital Market Authority (CMA). It tests the local regulatory knowledge required of individuals registering to perform the compliance and AML/CTF functions at a capital market institution, including those who lead the compliance department or act as the Anti-Money Laundering Reporting Officer (MLRO). The syllabus covers the CMA's Capital Market Institutions Regulations, Investment Funds Regulations, Market Conduct Regulations, Corporate Finance rules and Investment Accounts Instructions, together with the Saudi Anti-Money Laundering Law and the Law of Combating Crimes of Terrorism and its Financing and their implementing regulations. To earn the full CME-2 certificate, candidates must pass both CME-2A (international financial compliance, aligned with the CISI Global Financial Compliance syllabus) and this Saudi-specific CME-2B module.

Assessment

Approximately 25 multiple-choice questions across seven syllabus areas: Financial Institutions Regulations (20%), Anti-Money Laundering System (20%), Investment Funds Regulations (16%), Market Conduct Regulations (12%), Corporate Finance (12%), Counter-Terrorism Financing (12%) and Investment Account Instructions (8%).

Time Limit

30 minutes of exam time at a Financial Academy test centre.

Passing Score

70% passing standard, shown on the Financial Academy exam as a passing mark of 17.

Exam Fee

SAR 1,700, paid to the Financial Academy. Eligible Saudi candidates may receive Hadaf (HRDF) support after passing both CME-2A and CME-2B. (Financial Academy (in collaboration with CISI), on behalf of the Capital Market Authority (CMA))

Saudi CME-2B Exam Content Outline

20%

Financial Institutions Regulations

Authorisation, registration and conduct of business for capital market institutions under the CMA's Capital Market Institutions Regulations. Practice covers registered functions, the compliance officer and MLRO roles, fit-and-proper requirements, conflicts of interest, client classification and the obligation to maintain compliance monitoring programmes.

20%

Anti-Money Laundering System

The Saudi Anti-Money Laundering Law (Royal Decree M/20) and its Implementing Regulations. Practice covers the definition of money laundering, customer due diligence and enhanced due diligence, beneficial ownership, the 10-year record-keeping rule, suspicious transaction reporting to SAFIU, the tipping-off prohibition and the criminal penalties for money laundering.

16%

Investment Funds Regulations

CMA rules for public, private and real estate investment funds, including fund manager duties, offering documents, valuation, disclosure to unitholders and the compliance obligations that attach to fund management activity.

12%

Market Conduct Regulations

Prohibitions on insider trading, disclosure of inside information, market manipulation and untrue statements under the Capital Market Law and the Market Conduct Regulations, plus the obligation of a capital market institution to notify the CMA of suspected market abuse by clients.

12%

Corporate Finance

Rules on the Offer of Securities and Continuing Obligations, prospectus and disclosure requirements for issuers, related-party transactions and the compliance considerations for capital market institutions advising on or arranging securities offerings.

12%

Counter-Terrorism Financing

The Law of Combating Crimes of Terrorism and its Financing (Royal Decree M/21), the definition and penalties for terrorism financing, targeted financial sanctions, asset-freezing obligations and reporting of suspected terrorist financing.

8%

Investment Account Instructions

The CMA Investment Accounts Instructions governing the opening, operation and ongoing KYC of client investment accounts, including identity verification, account documentation and the link between account opening and AML customer due diligence.

How to Pass the Saudi CME-2B Exam

What You Need to Know

  • Passing score: 70% passing standard, shown on the Financial Academy exam as a passing mark of 17.
  • Assessment: Approximately 25 multiple-choice questions across seven syllabus areas: Financial Institutions Regulations (20%), Anti-Money Laundering System (20%), Investment Funds Regulations (16%), Market Conduct Regulations (12%), Corporate Finance (12%), Counter-Terrorism Financing (12%) and Investment Account Instructions (8%).
  • Time limit: 30 minutes of exam time at a Financial Academy test centre.
  • Exam fee: SAR 1,700, paid to the Financial Academy. Eligible Saudi candidates may receive Hadaf (HRDF) support after passing both CME-2A and CME-2B.

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

Saudi CME-2B Study Tips from Top Performers

1Read the CMA implementing regulations themselves — Capital Market Institutions, Investment Funds, Market Conduct, Offer of Securities and Continuing Obligations, and Investment Accounts Instructions — because CME-2B tests exact rules rather than general concepts.
2Learn the Saudi Anti-Money Laundering Law (Royal Decree M/20) and its Implementing Regulations in detail, especially CDD steps, the 10-year record-keeping rule, the tipping-off prohibition and the penalties.
3Memorise the suspicious transaction reporting protocol: reports go to SAFIU, must be filed when there are reasonable grounds for suspicion regardless of amount, and SAFIU can suspend a transaction for up to 72 hours.
4Know the institutional map: the CMA supervises capital market institutions, SAMA supervises banks and insurers, SAFIU is the financial intelligence unit, and the Permanent Committee coordinates national AML/CTF policy.
5Study the Market Conduct Regulations and Capital Market Law definitions of insider trading and market manipulation, and the requirement to notify the CMA of suspected market abuse by a client.
6Practise recalling exact figures and timeframes — penalties, fines, the 10-year record-keeping period and reporting deadlines — because the Saudi module rewards precise memorisation.

Frequently Asked Questions

What is the CME-2B exam?

CME-2B is the Saudi-specific module of the CME-2 Compliance and Anti-Money Laundering qualification administered by the Financial Academy for the Capital Market Authority (CMA). It tests local CMA regulations and the Saudi AML and counter-terrorism financing laws required of compliance and MLRO staff.

How many questions are on CME-2B and how long is it?

The CME-2B module is about 25 multiple-choice questions to be completed in 30 minutes at a Financial Academy test centre. It is closed-book with one best answer per question.

What is the passing score for CME-2B?

Candidates must reach the 70% passing standard, shown on the Financial Academy exam as a passing mark of 17. You must pass both CME-2A and CME-2B to earn the full CME-2 certificate.

How much does CME-2B cost?

The CME-2B exam fee is SAR 1,700, paid to the Financial Academy. Eligible Saudi candidates may receive Hadaf (HRDF) support after passing both CME-2A and CME-2B.

What is the difference between CME-2A and CME-2B?

CME-2A covers international financial compliance aligned with the CISI Global Financial Compliance syllabus, while CME-2B covers the Saudi-specific CMA regulations and the Kingdom's AML and counter-terrorism financing laws. Both must be passed for the CME-2 certificate.

Who needs the CME-2 certificate?

CME-2 is the qualification requirement for individuals registering to perform the compliance and AML/CTF functions at a capital market institution, including those leading the compliance department or acting as the Anti-Money Laundering Reporting Officer (MLRO).