PracticeVideosBlogFlashcardsEspañol
All Practice Exams

100+ Free CME-3A Securities Practice Questions

Pass your Securities (Brokerage) — CME-3A exam on the first try — instant access, no signup required.

✓ No registration✓ No credit card✓ No hidden fees✓ Start practicing immediately
100+ Questions
100% Free

Loading practice questions...

Same family resources

Explore More Saudi Capital Markets Exams

Continue into nearby exams from the same family. Each card keeps practice questions, study guides, flashcards, videos, and articles in one place.

Saudi CME-1B General Capital Market Rules and Regulations

Practice Questions

Saudi CME-2A Global Financial Compliance

Practice Questions

Saudi CME-2B Compliance and AML CTF Rules

Practice Questions

Saudi CME-3B Broker Rules and Regulations

Practice Questions

Saudi CME-4B Asset Manager Rules and Regulations

Practice Questions

Saudi CME-5A Corporate Finance Technical Foundations

Practice Questions
2026 Statistics

Key Facts: CME-3A Securities Exam

70%

Pass mark for the CME-3A Securities exam (70 out of 100)

Financial Academy - Securities (CME-3A) exam details

120 minutes

Time limit for the CME-3A Securities exam

Financial Academy - Securities (CME-3A) exam details

SAR 2,100

Exam fee for CME-3A Securities

Financial Academy - Securities (CME-3A) exam details

9 chapters

CISI Certificate in Securities syllabus chapters tested in CME-3A

CISI Certificate in Securities syllabus

27%

Asset Classes is the largest syllabus area in CME-3A

Financial Academy - Securities (CME-3A) exam details

CME-3A + CME-3B

Both exams are required to be authorised for equity brokerage

CMA - Capital Market Qualification Examinations

About 80 hours

CISI's estimated study time for the Certificate in Securities

CISI Certificate in Securities workbook

100

Free original practice questions here

OpenExamPrep

CME-3A Securities is the technical brokerage exam in the Saudi Capital Market Qualification (CME) programme, delivered by CISI for the CMA. It is a computer-based multiple-choice test with a 70% pass mark and a 120-minute time limit, and the fee is SAR 2,100. The syllabus follows the nine chapters of the CISI Certificate in Securities, weighted toward Asset Classes (27%), Secondary Markets (15%), Primary Markets (14%) and Accounting Analysis (14%). Passing both CME-3A and CME-3B is required to be authorised to carry out equity brokerage at a Capital Market Institution. This 100-question bank provides original practice modelled on the official syllabus areas, including the Saudi Exchange (Tadawul), sukuk and settlement.

Sample CME-3A Securities Practice Questions

Try these sample questions to test your CME-3A Securities exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which of the following best describes the role of the Capital Market Authority (CMA) in Saudi Arabia?
A.A commercial bank that lends to brokerage firms
B.The government regulator that supervises and develops the capital market
C.The central securities depository that settles trades
D.A self-regulatory association of listed companies
Explanation: The Capital Market Authority is the statutory regulator responsible for supervising, regulating and developing the Saudi capital market, including licensing market participants and protecting investors. It sets the rules that brokers and other Capital Market Institutions must follow.
2In the financial services industry, the term 'retail client' generally refers to:
A.A large institutional investor such as a pension fund
B.An individual or small investor receiving the highest level of regulatory protection
C.A market maker quoting prices on the exchange
D.A government sovereign wealth fund
Explanation: Retail clients are typically individuals or small investors who are presumed to have less market knowledge, so regulators give them the highest level of protection. Professional and institutional clients receive less protection because they are assumed to be more sophisticated.
3Which participant in the financial services industry primarily provides liquidity by continuously quoting both buy and sell prices for securities?
A.Custodian
B.Market maker
C.Registrar
D.Auditor
Explanation: A market maker stands ready to buy and sell a security by quoting two-way (bid and offer) prices, which provides liquidity to the market. The difference between the bid and offer is the market maker's spread.
4Wholesale financial services are best characterised as services provided:
A.Only to individual savers
B.Between financial institutions and large corporate or professional clients
C.Exclusively by central banks
D.Only through retail bank branches
Explanation: The wholesale sector covers large-value transactions between financial institutions and large corporate, government or professional clients. The retail sector, by contrast, deals with individuals and small businesses.
5An ordinary shareholder in a company is best described as:
A.A lender to the company entitled to fixed interest
B.A part-owner of the company entitled to vote and to residual profits
C.A creditor ranking ahead of bondholders
D.A holder of a fixed-maturity instrument
Explanation: Ordinary shares represent ownership (equity) in a company. Holders usually have voting rights and a claim on residual profits through dividends, but they rank last in a liquidation after creditors and preference shareholders.
6Compared with ordinary shares, preference shares typically:
A.Carry full voting rights and variable dividends
B.Pay a fixed dividend and rank ahead of ordinary shares for dividends and capital
C.Always convert into bonds at maturity
D.Have no claim on the company's assets
Explanation: Preference shares usually pay a fixed dividend and rank ahead of ordinary shares for both dividend payment and repayment of capital in a liquidation. They normally carry limited or no voting rights.
7A bond is best described as:
A.A unit of ownership in a company
B.A tradable debt instrument on which the issuer usually pays periodic interest and repays principal at maturity
C.A right to buy shares at a fixed price
D.A pooled investment fund
Explanation: A bond is a debt security: the investor lends money to the issuer, who typically pays periodic interest (the coupon) and repays the principal (face value) at maturity. Bondholders are creditors, not owners.
8A bond has a face value of SAR 1,000 and pays an annual coupon of SAR 50. What is its coupon (nominal) yield?
A.2.5%
B.5%
C.10%
D.50%
Explanation: The coupon yield is the annual coupon divided by the face value: SAR 50 / SAR 1,000 = 5%. The coupon yield is fixed relative to the face value and does not change with the market price.
9If a fixed-coupon bond's market price rises above its face value, the bond's running (current) yield will:
A.Rise above the coupon yield
B.Fall below the coupon yield
C.Equal the coupon yield exactly
D.Become zero
Explanation: Running yield equals the annual coupon divided by the current market price. When the price rises above face value, the denominator increases, so the running yield falls below the coupon yield. Price and yield move inversely.
10In a credit-rating scale, a bond rated below investment grade (for example BB or lower) is often called a:
A.Gilt-edged bond
B.High-yield or 'junk' bond
C.Zero-coupon bond
D.Government bond
Explanation: Bonds rated below investment grade (below BBB-/Baa3) carry higher default risk and must offer higher yields to attract investors, so they are called high-yield or 'junk' bonds. Investment-grade bonds are rated BBB-/Baa3 and above.

About the CME-3A Securities Exam

Securities (CME-3A) is the technical securities and brokerage examination required, alongside CME-3B (Saudi Capital Market Rules and Regulations for Brokers), for staff seeking registration to perform local or international equity brokerage functions at a Saudi Capital Market Institution. It is one of the Capital Market Qualification Examinations mandated by the Capital Market Authority (CMA) and delivered in cooperation with the Chartered Institute for Securities & Investment (CISI). The exam is based on the CISI Certificate in Securities workbook and covers asset classes, primary and secondary markets, corporate actions, clearing and settlement, accounting analysis and investment management. It is a computer-based multiple-choice test available in Arabic and English.

Assessment

Computer-based multiple-choice exam covering the nine chapters of the CISI Certificate in Securities: Financial Services Sector, Asset Classes, Markets, Primary Markets, Secondary Markets, Corporate Actions, Clearing and Settlement, Accounting Analysis and Investment Management.

Time Limit

120 minutes (2 hours).

Passing Score

70% (70 out of 100). Results are reported as pass or fail.

Exam Fee

SAR 2,100, payable through CISI and the Financial Academy. (Chartered Institute for Securities & Investment (CISI), administered for the Saudi Capital Market Authority through the Financial Academy.)

CME-3A Securities Exam Content Outline

3%

Financial Services Sector

Structure and participants of the financial services industry, including retail and wholesale sectors, institutions and market participants, and the role of regulators such as the CMA.

27%

Asset Classes

Ordinary and preference shares, government and corporate bonds, bond yields and prices, credit ratings, sukuk and Islamic finance instruments, collective investment schemes, money-market instruments, derivatives basics and foreign exchange.

2%

Markets

The distinction between primary and secondary markets, market liquidity and the role of exchanges and regulators in capital markets.

14%

Primary Markets

Raising capital through initial public offerings, subscriptions, placements, bookbuilding and underwriting, plus price stabilisation and greenshoe (over-allotment) options.

15%

Secondary Markets

Trading mechanisms and market structure, order-driven and quote-driven systems, order types, dark pools, the Saudi Exchange (Tadawul) and equity indices.

7%

Corporate Actions

Mandatory and voluntary corporate actions including dividends, scrip and bonus issues, stock splits, rights issues and share buybacks, with related calculations.

8%

Clearing and Settlement

Post-trade clearing, settlement and custody, central counterparties and depositories, delivery-versus-payment models and securities (stock) lending.

14%

Accounting Analysis

Financial statements and accounting concepts, and key ratios such as EPS, P/E, dividend yield, dividend cover, ROCE and gearing used to analyse listed companies.

10%

Investment Management

Risk and return, diversification, systematic and unsystematic risk, correlation, active versus passive management, benchmarks and ESG investing.

How to Pass the CME-3A Securities Exam

What You Need to Know

  • Passing score: 70% (70 out of 100). Results are reported as pass or fail.
  • Assessment: Computer-based multiple-choice exam covering the nine chapters of the CISI Certificate in Securities: Financial Services Sector, Asset Classes, Markets, Primary Markets, Secondary Markets, Corporate Actions, Clearing and Settlement, Accounting Analysis and Investment Management.
  • Time limit: 120 minutes (2 hours).
  • Exam fee: SAR 2,100, payable through CISI and the Financial Academy.

Keys to Passing

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

CME-3A Securities Study Tips from Top Performers

1Spend most of your time on Asset Classes; at 27% of the marks it is by far the largest chapter and covers shares, bonds, sukuk, funds and derivatives.
2Practise the core ratios from Accounting Analysis until they are automatic: EPS, P/E, dividend yield, dividend cover, ROCE and gearing each appear in calculation questions.
3Learn the primary-market vocabulary precisely, distinguishing IPOs, placements, bookbuilding, underwriting, stabilisation and greenshoe options.
4For Secondary Markets, be clear on order-driven versus quote-driven trading and the different order types, and relate them to how the Saudi Exchange (Tadawul) operates.
5Memorise the delivery-versus-payment (DvP) settlement models and the roles of the clearing house, central counterparty and depository in the post-trade cycle.
6Use timed mock exams to build the pace needed to answer all questions within 120 minutes and aim comfortably above the 70% pass mark.

Frequently Asked Questions

What is the CME-3A Securities exam?

CME-3A is the technical securities and brokerage exam in the Saudi Capital Market Qualification (CME) programme. It is delivered by CISI for the Capital Market Authority and is based on the CISI Certificate in Securities workbook.

How many questions are on CME-3A and how long is it?

The exam is a computer-based multiple-choice test with a 120-minute (2-hour) time limit. It covers the nine chapters of the CISI Certificate in Securities syllabus.

What is the pass mark for CME-3A?

The pass mark is 70% (70 out of 100). Results are reported as a pass or fail rather than a numerical score band.

Do I need both CME-3A and CME-3B?

Yes. To be registered to perform local or international equity brokerage functions at a Capital Market Institution, candidates must pass both CME-3A (Securities) and CME-3B (Saudi Capital Market Rules and Regulations for Brokers).

Which topics carry the most marks?

Asset Classes is the largest area at 27%, followed by Secondary Markets (15%), Primary Markets (14%) and Accounting Analysis (14%). Investment Management is 10% and Clearing and Settlement is 8%.

Are these official CISI or CMA questions?

No. These are original OpenExamPrep practice questions modelled on the published CME-3A syllabus. CISI and the Financial Academy provide the official workbook and mock exams separately.