Checked 25 October 2026. The format facts were read on IBF’s CACS Examination Details page and its 5 May 2024 announcement on 25 October 2026. The two questions follow Singapore rules as at October 2026.
CACS Paper 1 practice is most useful in the paper’s own shape: 80 multiple-choice questions in 2.5 hours, against a 75% pass mark, with more application-based questions since the new exams began in August 2024. Below are two questions worked through, each with the explanation and the rule its answer rests on. They come from our own independent CACS Paper 1 practice test, written to IBF’s six syllabus headings from the public rules. IBF’s exam rules say registered candidates can access a PDF of its study guide through the IBF Portal. ProSyllabus is an independent study site. It is not affiliated with IBF, the Private Banking Industry Group, the Association of Banks in Singapore (ABS) or MAS, and nothing here is official. Every exam fact below is from IBF’s own pages, and every rule from the official text of the code, notice, guideline or Act named, read on 25 October 2026.
Format from IBF’s CACS Examination Details page, read 25 October 2026; the per-question time and the 60 of 80 are our arithmetic.
FreeTests: Overview of Wealth Management · Client Due Diligence · Wealth Transfers and Succession Planning · Ethical Conduct
CACS Paper 1 Practice Test: free sample
Answer 4 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 8 minutes · free · no sign-in.
4 questions to answer
Start nowabout 8 minThis one is free · no sign-in needed
Your result shows how long each question took you.
Two worked CACS Paper 1 questions
Each question is printed exactly as it appears in the ProSyllabus CACS Paper 1 practice test, with the explanation the test gives after you answer.
Question 1 · Overview of Wealth Management
Mrs Ho's primary residence is worth S$1.5 million with a S$0.9 million mortgage secured on it. Her other net personal assets are S$1.5 million. Does she exceed S$2 million of net personal assets?
- Yes: the home counts at S$0.6 million, so the total is S$2.1 million
- No: the home counts at S$0.1 million, so the total is S$1.6 million
- No: the home counts at nothing, so her total is only S$1.5 million
- Yes: the home counts at S$1.5 million, so the total is S$3.0 million
Answer: A. SFA s 4A(1A) values the residence at fair market value less the secured loan (S$0.6 million) and takes the lower of that and S$1 million, so it counts at S$0.6 million and her total of S$2.1 million exceeds S$2 million. The residence is not excluded outright, and the cap is not reduced by the loan a second time.
From the ProSyllabus CACS Paper 1 practice test: an original question, not an IBF exam or study-guide question. It is one of that test’s four free questions.
Question 2 · Wealth Transfers and Succession Planning
A client's will, otherwise validly made, leaves S$200,000 to his friend Ravi. Ravi's wife is one of the two attesting witnesses, and there is no other witness. What is the effect?
- The gift is valid, since Ravi himself did not attest the will
- The whole will is void, because a witness had an interest
- The gift to Ravi is void, but the rest of the will stands
- The gift is valid if Ravi gives up his claim to the residue
Answer: C. Section 10(1) of the Wills Act makes a beneficial gift to an attesting witness, or to the witness's wife or husband (other than charges and directions for the payment of a debt), utterly null and void so far as it concerns that person. So the gift to Ravi fails, but that does not by itself invalidate the will, and section 9 confirms a will is not invalid because a witness is incompetent.
From the ProSyllabus CACS Paper 1 practice test: an original question, not an IBF exam or study-guide question. It is one of that test’s four free questions.
| Question | Syllabus heading | Answer |
|---|---|---|
| 1 | Overview of Wealth Management | A: Yes: the home counts at S$0.6 million, so the total is S$2.1 million |
| 2 | Wealth Transfers and Succession Planning | C: The gift to Ravi is void, but the rest of the will stands |
The table repeats the two answers for readers on a version of this page that does not show the cards.
FreeTests: Overview of Wealth Management · Client Due Diligence · Wealth Transfers and Succession Planning · Ethical Conduct
CACS Paper 1 Practice Test: free sample
Answer 4 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 8 minutes · free · no sign-in.
4 questions to answer
Start nowabout 8 minThis one is free · no sign-in needed
Your result shows how long each question took you.
Why these are scenario questions
IBF’s announcement of the new CACS exams lists an “Increase in application-based questions to test candidates’ understanding and application of concepts”, and an increase in Paper 1’s time from 2 hours to 2.5 hours “to accommodate the increase in the number of application-based questions”. So it pays to practise rules as decisions: a client’s home and mortgage turned into a number against a threshold, or a witness’s spouse turning a gift void. Knowing that a rule exists is the start; being able to apply it to a client’s facts in under two minutes is what the time allows.
What to practise under each heading
Because the paper now leans towards application, it helps to turn each heading into the kind of decision a client adviser actually makes. The table below is our own list of the decisions worth drilling, heading by heading, with the official text to check each one against. It is a study aid, not IBF’s list.
| IBF syllabus heading | Decisions worth drilling (our list) | Check against |
|---|---|---|
| Overview of Wealth Management | Is this client eligible to be an accredited investor, on which limb, and has the client opted in with this bank? | SFA s 4A; Classes of Investors Regulations 2018 |
| Private Banking Code of Conduct | Is this person a Covered Person, may they advise before passing CACS, and do their CPD hours count this calendar year? | PB Code (Covered Person definition, section 2 on CACS, CPD hours); IBF CACS CPD page |
| Client Due Diligence | Is CDD triggered, who are the beneficial owners, is enhanced CDD needed, and when must a suspicious transaction be reported? | MAS Notice 626 paras 6, 8 and 14 |
| Client Advisory | Is there a reasonable basis for this recommendation given the client’s profile, and what must be disclosed about fees and benefits? | PB Code 6.2 and 6.4; MAS Guidelines on Fair Dealing |
| Wealth Transfers and Succession Planning | Who inherits without a will, is this will validly witnessed, and has a marriage revoked it? | Intestate Succession Act s 7 (rules for distribution); Wills Act ss 6, 10 and 13 |
| Ethical Conduct | May the adviser act on this information, accept this gift, or allocate this partly filled order this way? | PB Code section 5 (professionalism, conflicts, order handling); MAS Fit and Proper Guidelines |
Headings from IBF; the decisions and the rules to check them against are ours.
After a timed mock, sort what you missed by heading before you re-read anything. Two or three misses spread across six headings may point to reading too fast under time; five misses under one heading may point to a rule that needs another read. Re-read the rule in the official text, not only in a summary, and then try a short set on that heading alone before the next full mock. Read the explanations of questions you got right as well: a right answer reached for the wrong reason will not hold when the facts change slightly.
Pace on an 80-question paper
| Checkpoint | Time used at an even pace (our arithmetic) | Time left |
|---|---|---|
| Question 20 | 37.5 minutes | 112.5 minutes |
| Question 40 | 75 minutes | 75 minutes |
| Question 60 | 112.5 minutes | 37.5 minutes |
| Question 80 | 150 minutes | None |
150 minutes divided by 80 questions is 1.875 minutes, or 112.5 seconds, a question. Our arithmetic from IBF’s stated 80 questions and 2.5 hours.
FreeTests: Overview of Wealth Management · Client Due Diligence · Wealth Transfers and Succession Planning · Ethical Conduct
CACS Paper 1 Practice Test: free sample
Answer 4 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 8 minutes · free · no sign-in.
4 questions to answer
Start nowabout 8 minThis one is free · no sign-in needed
Your result shows how long each question took you.
Reading your mock score
Your mock score against the 75% pass mark
Enter how many of 80 questions you got right in a timed 2.5-hour mock. The tool compares it with IBF’s 75% pass mark for Paper 1, which on 80 questions is 60.
A practice score on our questions is not a CACS result and does not predict one.
| Correct answers out of 80 | Against the 75% pass mark | What we would do next (our suggestion) |
|---|---|---|
| 64 or more | 80% or above | Keep one timed mock for the final week; re-read the rule behind every question you missed. |
| 60 to 63 | At or just above 75% | Too close to rely on. Work on your two weakest headings, then sit another timed mock. |
| 52 to 59 | Below 75% | Go back to the study guide and the official text for the headings where you dropped most marks. |
| 51 or fewer | Well below | Finish the study guide before another timed mock; use a mock to find gaps, not to learn the material. |
The 75% pass mark is IBF’s; the bands and suggestions are ours. A score on practice questions is not a CACS result and does not predict one.
Traps worth practising
| Trap | Where it bites | What to do (our suggestion) |
|---|---|---|
| “Exceed” or “not less than” | Individual accredited investor limbs: net personal assets must exceed S$2 million, financial assets net of related liabilities must exceed S$1 million, and income in the preceding 12 months must be not less than S$300,000 (SFA s 4A). | Read the comparison word before the number. |
| Code expectation or legal duty | The PB Code says what is expected; MAS Notice 626 says what a bank shall do. | Ask which instrument the option relies on before deciding how strong it can be. |
| Every element of a list | Where paragraph 8.3 of Notice 626 applies, enhanced CDD for a politically exposed person needs at least senior management approval, source of wealth and source of funds, and enhanced monitoring. | When a question asks for every required measure, an option that names two of the three is incomplete, however sensible it sounds. |
| The family member | A gift to a witness’s husband or wife is void too (Wills Act s 10), apart from charges and directions for paying a debt; that alone does not invalidate an otherwise valid will. | Check who signed as witness and how they are related to each beneficiary. |
| Time | 112.5 seconds a question on average (our arithmetic). | Mark a question you cannot settle and come back to it. |
The rules named are from SFA s 4A, MAS Notice 626, the PB Code and the Wills Act 1838; the traps and suggestions are ours.
For the public rules behind each heading, see the CACS Paper 1 syllabus explained; for fees, booking and rescheduling, the CACS Paper 1 alerts and updates page.
FreeTests: Overview of Wealth Management · Client Due Diligence · Wealth Transfers and Succession Planning · Ethical Conduct
CACS Paper 1 Practice Test: free sample
Answer 4 questions against the clock, like the real exam. You then see the right answer, the reason and your time on each. About 8 minutes · free · no sign-in.
4 questions to answer
Start nowabout 8 minThis one is free · no sign-in needed
Your result shows how long each question took you.
Frequently asked questions
Where can I find CACS Paper 1 practice questions?
IBF’s exam rules say registered candidates can access a PDF of its study guide through the IBF Portal. Independently, the ProSyllabus CACS Paper 1 practice test has two 80-question timed mocks and six heading drills, four questions of which are free; two are worked through on this page.
Are the questions on this page real CACS questions?
No. They are original questions written to IBF’s Paper 1 syllabus headings from the public rules. They are not IBF exam or study-guide questions, and IBF has not reviewed or endorsed them.
How long should a CACS Paper 1 mock take?
2.5 hours for 80 questions, the time IBF states for the paper: 112.5 seconds a question on average.
How many questions do I need to get right to pass?
IBF’s pass mark is 75%. On 80 questions that is 60 (our arithmetic).
Which rules do these questions follow?
Singapore rules as at October 2026: here, the Securities and Futures Act 2001 s 4A and the Wills Act 1838.
Sources
- official — IBF: Client Adviser Competency Standards (CACS) Assessment, Examination Details (Paper 1 and Paper 2 syllabus, format, duration, pass mark, fees, exemptions; read 25 Oct 2026)
- official — IBF: Implementation of the New Client Adviser Competency Standards Examinations (CACS Exams), 5 May 2024
- official — IBF: Examinations Rules and Regulations (June 2026)
- official — Singapore Statutes Online: Securities and Futures Act 2001, section 4A
- official — Securities and Futures (Classes of Investors) Regulations 2018, Singapore Statutes Online page (the version current as at 5 April 2025), read from the Internet Archive copy captured on 4 April 2025
- official — ABS: Private Banking Code of Conduct, effective 1 September 2020
- official — IBF: CACS CPD requirements
- official — MAS: Notice 626, Prevention of Money Laundering and Countering the Financing of Terrorism – Banks (dated 28 March 2024; MAS page: last revised 30 June 2025)
- official — MAS: Guidelines on Fair Dealing – Board and Senior Management Responsibilities for Delivering Fair Dealing Outcomes to Customers (FSG-G04; MAS page: last revised 30 May 2024)
- official — MAS: Guidelines on Fit and Proper Criteria (FSG-G01; MAS page: last revised 30 May 2025)
- official — Singapore Statutes Online: Intestate Succession Act 1967
- official — Singapore Statutes Online: Wills Act 1838
official = a document published by the conducting body. reported = a news or coaching site we could not check against an original. Where sources disagree this page says so rather than picking one.
