UK visa refusal, now applying for Malta Schengen visa to sit MRCP paces exam [closed]

We cannot possibly guess what your chances are since we don't know your particular circumstances or the data about you in UK or Schengen databases. But there are some things which can be said.

• Both the UK and the Schengen area welcome genuine tourists and try to keep illegal immigrants out. If the UK concluded from your application that you may become an illegal immigrant, then Schengen might come to the same conclusion unless your circumstances changed in the meantime.
• Malta is a less attractive destination for illegal immigrants than the UK, but it is part of the Schengen area and the Maltese officials will wonder if you are trying to immigrate into another Schengen country. Depending on your current circumstances, they may be less concerned that you would overstay in Malta than in the UK.
• The UK and Schengen exchange information. The Maltese officials will be aware that your UK application was refused even if you did not mention it yourself.

Summarized, Malta might reject your application for the same reasons as the UK.