Everything You Need To Know About Canadian Securities Exam

How to enroll for the exam?

Enrolment in these exams are open to registrants worldwide and can be done throughout the year. Students may begin their studies immediately upon enrolling. Students who pay their registration fees by cheque must wait until fees are processed before they can begin their studies.

ARE PREREQUISITES REQUIRED?

There are no particular set prerequisites for this but the exams or courses of different categories might have them, you can get to know about it more on the particular site.

What are the eligibility criteria for enrolling?

Wondering how you can get into this matter of fact, well all you need to do is be a part of any course in the past so you can again be a part of it. There is no time limit for exam enrolling, they have been open throughout the year. Relief the headache! Cause now you can enroll for this within the six months from your previous attempt to the exam.

What is the exam format

The general pattern for the exam consists of 100 multiple choice questions. The Canadian securities exam are as followed and everyone has its own format;

  • Portfolio Management Techniques (PMT), consists of a single exam that consists of 120 questions based on multiple choice questions.
  • Advanced Investment Strategies (AIS), the format goes the same for it as well, it has 75 questions in total.
  • Options Licensing Course (OLC), the multiple choice questions of 50 per exam.
  • Derivatives Fundamentals Course (DFC), the question paper is composed of 65 Multiple Choice Questions (MCQs) in total.
  • Derivatives Fundamentals and Options Licensing Course (DFOL), 110 Multiple Choice Questions (MCQs) are displayed in the question paper.
  • Canadian Securities Course (CSC), the format of the exam is designed in the form of Multiple Choice Questions (MCQs). There are 50 questions in total.
  • Conduct and Practices Handbook Course (CPH), the format of the exam is designed in the form of Multiple Choice Questions (MCQs). There are 100 questions in total.
  • Wealth Management Essentials (WME), has two exams and each contains several questions which are Exam 1: 120 Questions and Exam 2: 50 Questions.
  • In the New Entrants Course (NEC), the questions per exam are 75 and they are multiple choice questions.
  • Investment Management Techniques (IMT), consist of Exam 1: Multiple Choice questions and Exam 2: Multiple cases with Multiple Choice Questions. Exam 1 has 110 questions and exam 2 have 50 questions.

What exam is based on?

The Canadian Securities Course is an entry-level education program offered by the Canadian Securities Institute (CSI). The CSC can also be used to satisfy the educational requirements needed to sell and trade mutual funds, exchange-traded funds, stocks, and fixed income assets.

There are different series to it which are DFOL, OLC, AIS, PMT, IMT, DFC, IMT, and lastly NEC. It is a multiple choice based question and computer-based exam which makes it easy for anyone to achieve the goal.

What is the ideal time required to study for the exams?

Well, this part solely depends on the person who is studying and how he or she carries the tasks. What is the study plan you have created but the ideal one that experts say is something between the exam requires 150-200 hours of prep time. It can exceed the time limit or can be less depending upon who is studying for it.

WHAT CAN BE THE EXAM PREPARATION STYLE?

Here are some of the suggestions to help you clear this exam:

COURSES

Online courses are available to teach you.  Registering yourself in these courses is very important if you want to clear the exam. All the study tools are also available. Moreover, the CSI has also updated the workbooks. Chapters have been revised to convey important and accurate information to the students and guess what? The end of the section quizzes has also been added for you to access yourself after completing each chapter. It is advisable to save the information that is taught in these courses because access to your online materials will close 2 weeks after the successful course completion. However, this course can be extended for 1 year if you have not exceeded the attempts allowed for each exam.

ONLINE PRACTICE

Though the exam is very easy and anyone having a basic knowledge of the derivatives can pass this exam with flying colors yet you need to practice online MCQs to polish your skills.

By becoming a regular member of online programs and practicing the MCQs religiously you can ace the exam.

MAKE NOTES

Note-taking is such an essential and effective way of clearing any exam. Highlight all the key points that are taught in online courses. Revise them again and again for performing better in the exam.

TEXTBOOKS

Textbooks are available online and in pdf form. They provide a comprehensive guide on the DFC program and cover all the essential topics of the syllabus.

FOLLOW THE SYLLABUS

All the syllabus has been uploaded on the website. The chapters are divided and the weighting is given. It’s better to prepare for the exam whilst keeping the weightage of every topic in mind. The chapters with more weightage have higher chances of appearing in the exam and vice versa.

SOLVE PAST PAPERS

It is such a crucial step in every exam. Testing yourself is so important and the best way to do is to solve the past exams. Not only will this give you an idea about the questions coming in the exam but it will also help you to access yourself.

TRAINING CENTRES

Training centers are the surest way to ace the exam. Professionals are available in these centers who guide you accordingly. These centers will provide you with important tips and tricks to ace the exam.

DIVIDE THE SYLLABUS INTO SMALLER CHUNKS

Compartmentalize chapter per day or hour for your convenience. Divide your time accordingly and stick to the syllabus mentioned on the official website.

What is the price of exams?

The original pricing for the exam is provided on the official website of the exams, and every course has its pricing.

Here is the link to the official site; https://www.csi.ca/student/en_ca/courses/allcourses.xhtml

What is the passing rate for the exams?

If we see the general passing rate for all the exams then it could be 60%. Individually every exam has the same passing rate and means you can now easily pass the exam in no time.

What happens when you fail the exam?

The course enrollment fee includes the charges for the first attempt. But if you are unable to clear the exam in the first attempt then you have to pay some extra charges for availing of the second or third chance. Three attempts are allowed.

Do you have to pay for the exam again if you fail?

The course enrollment fees of exam programs include the fees for the first attempt only. If in the case of the second or third attempt the candidate has to pay more fees. The discount codes are available for different categories.

How much is the certificate recognized?

On the successful completion of the course, a “NOTICE OF COURSE COMPLETION” appears on the student profile. The student can also download this notice. It will remain on the profile as formal confirmation of course completion. Candidates achieving 85% marks or higher will be awarded “HONORS CERTIFICATE”.

Some of its designations are also recognized internationally, allowing for substitutes on regulatory exams. CSI is a key operator of licensing, training, and educational resources for Canada’s securities industry.

For how long are the exams valid?

The validity for the Canadian Security exams is three years if you’ve never been approved with an IIROC member firm. If you have terminated your membership, your licensing course is valid for three years from that date, provided you were registered in a category that required the course.

On what scale the exam is difficult?

It again depends on how vigilant you are and how much you want to work on it. It’s not hard to pass but still need your time to study well for it.

Summary table-

INVESTMENT MANAGEMENT TECHNIQUES
Exams2
Exam FormatExam 1: Proctored (remote or in-person at a test center)
Exam 2: Proctored (remote or in-person at a test center)
Exam DurationExam 1: 3 hours
Exam 2: 3 hours
Question FormatExam 1: Multiple Choice questions
Exam 2: Multiple cases with Multiple Choice questions
Questions Per ExamExam 1: 110 Questions
Exam 2: 50 Questions
Attempts Allowed Per Exam3*
Passing Grade60% (Pre Exam)
Assignments Hours of Study     Enrolment PeriodNone 80 – 100 hours 1 year +
PORTFOLIO MANAGEMENT TECHNIQUES
Exams1
Exam FormatProctored (remote or in-person at a test center)
Exam Duration3 Hours
Question FormatMultiple Choice
Questions Per Exam120
Attempts Allowed Per Exam3*
Passing Grade60% (Pre Exam)
Assignments Hours of study   Enrolment period                          None 70 – 95 hours 1 year+
CONDUCT AND PRACTICES HANDBOOK COURSE
Exams1
Exam FormatProctored (remote or in-person at a test center)
Exam Duration3 Hours
Question FormatMultiple Choice
Questions Per Exam100
Attempts Allowed Per Exam3*
Passing Grade60%
Assignments Hours of Study Enrolment period               None 40 – 55 hours 1 year +
NEW ENTRANTS COURSE
Exams1
Exam FormatProctored (remote or in-person at a test center)
Exam Duration2 Hours
Question FormatMultiple Choice
Questions Per Exam75
Attempts Allowed Per Exam3*
Passing Grade60%
Assignments Hours to studyNone 55-65 hours
ADVANCED INVESTMENT STRATEGIES 
Exams1
Exam FormatProctored (remote or in-person at a test center)
Exam Duration2 Hours
Question FormatMultiple Choice
Questions Per Exam75
Attempts Allowed Per Exam3*
Passing Grade60%
Assignments Enrolment time                      None 1 year +
 WEALTH MANAGEMENT ESSENTIALS
Exams2
Exam FormatExam 1: Proctored (remote or in-person at a test center)
Exam 2: Proctored (remote or in-person at a test center)
Exam DurationExam 1: 3 hours
Exam 2: 3 hours
Question FormatExam 1: Multiple Choice Questions
Exam 2: Multiple Cases with Multiple Choice Questions
Questions Per ExamExam 1: 120 Questions
Exam 2: 50 Questions
Attempts Allowed Per Exam3*
Passing Grade60% (Pre Exam)
AssignmentsNone
DERIVATIVES FUNDAMENTALS AND OPTIONS LICENSING COURSE
Exams1
Exam FormatProctored (remote or in-person at a test center)
Exam Duration3 Hours
Question FormatMultiple Choice
Questions Per Exam110
Attempts Allowed Per Exam3*
Passing Grade60%
AssignmentsNone
Options Licensing Course
Exams1
Exam FormatProctored (remote or in-person at a test center)
Exam Duration1.5 Hours
Question FormatMultiple Choice
Questions Per Exam50
Attempts Allowed Per Exam3*
Passing Grade60%
Assignments                    None
DERIVATIVES FUNDAMENTALS COURSE
Exams1
Exam FormatProctored (remote or in-person at a test center)
Exam Duration2 Hours
Question FormatMultiple Choice
Questions Per Exam65
Attempts Allowed Per Exam3*
Passing Grade60%
Assignments Enrolment timeNone 1 year +
CANADIAN SECURITIES COURSE
Exams2
Exam FormatProctored (remote or in-person at a test center)
Exam Duration2 Hours
Question FormatMultiple Choice
Questions Per Exam100
Attempts Allowed Per Exam3*
Passing Grade60% (Pre Exam)
AssignmentsNone

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