CMFAS Notes

Please read these Terms of Use ("Terms") carefully before using or purchasing materials from CMFAS Notes. By accessing our website, creating an account, or purchasing our study materials, you agree to be bound by these Terms.

Independent Educational Provider & Non-Affiliation Disclaimer

• Not Affiliated with IBF, SCI, or MAS: CMFAS is an independent educational content provider. We are not affiliated, associated, authorized, endorsed by, or in any way officially connected with:

  • The Institute of Banking and Finance Singapore (IBF)

  • The Singapore College of Insurance (SCI)

  • The Monetary Authority of Singapore (MAS)

  • Any other official examining or regulatory body in Singapore.

• Informational Purposes Only: Our Capital Markets and Financial Advisory Services (CMFAS) examination study guides, summary notes, cheat sheets, and mock exam questions are supplementary study aids created independently to assist candidates in revision.

Intellectual Property & Limited License

• Our Ownership: All materials—including study notes, digital summaries, cheat sheets, practice questions, answer explanations, mock tests, and website layouts—are the exclusive intellectual property of CMFAS Notes, protected by Singapore copyright laws and international intellectual property treaties.

• Single-User, Non-Exclusive License: Upon payment, you are granted a non-exclusive, non-transferable license to access and use the purchased materials strictly for your personal, non-commercial educational revision.

• Restrictions: You expressly agree that you will NOT:

  • Share, distribute, resell, lease, sublicense, or rent the materials to any third party.

  • Upload, transmit, or share the materials via shared corporate drives, cloud folders (e.g., Google Drive, Dropbox), Telegram groups, WhatsApp groups, forums, or document-sharing websites.

  • Print or distribute physical copies for colleagues, teams, or training cohorts without an authorized commercial/enterprise license.

  • Modify, reverse-engineer, decompile, adapt, or create derivative works from our content or platform.

• Watermarking & Digital Rights Management (DRM): Downloadable files may be digitally embedded or visible-watermarked. Tampering with or stripping digital watermarks is a strict violation of these Terms.

Account Security & Access

• Account credentials (username and password) are strictly for your individual use. You may not share your login credentials with colleagues, friends, or third parties.

• Concurrent logins from multiple distinct IP addresses or abnormal usage patterns may trigger automated account suspension pending investigation.

Limitation of Liability

• To the maximum extent permitted under Singapore law, CMFAS Notes, its founders, directors, employees, and contributors shall not be liable for:

  • Any direct, indirect, incidental, punitive, or consequential losses, including lost wages, delayed licensing, failure to secure employment, or exam re-registration fees resulting from an unsuccessful exam attempt.

  • Temporary website downtime, technical glitches, or server interruptions during practice exams.

• In any event, our total aggregate liability arising out of or related to your use of our platform or materials shall not exceed the actual amount paid by you for the specific product giving rise to the claim.

Indemnification

You agree to defend, indemnify, and hold harmless CMFAS Notes and its affiliates from and against any claims, damages, liabilities, costs, or expenses (including legal fees on a full indemnity basis) arising out of:

1. Your breach of these Terms (including copyright infringement or unauthorized file distribution).

2. Your misuse of the website or purchased materials.

Termination of Access

We reserve the right, without prior notice or refund, to immediately terminate or suspend your account, revoke access to the mock test portal, and block future purchases if:

• You breach these Terms.

• We detect unauthorized credential sharing, scraping, or distribution of our content.

• We detect fraudulent payment or chargeback disputes.

We reserve the right to pursue civil remedies and damages for copyright infringement under the Singapore Copyright Act 2021.

Governing Law & Jurisdiction

These Terms of Use are governed by and construed in accordance with the laws of the Republic of Singapore. Any dispute, claim, or controversy arising out of or relating to these Terms or the breach thereof shall be submitted to the exclusive jurisdiction of the courts of Singapore.