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CSC Exam Guide

Understand the Canadian Securities Course exams before you prepare

The CSC currently has two proctored multiple-choice exams. Use this hub to understand format, study time, weighting and how Exam 1 and Exam 2 differ.

Current exam structure

2 exams • 100 multiple-choice questions per exam • 2 hours per exam • 60% passing grade • 3 attempts allowed per exam.

Recommended study time

CSI currently lists 135–200 hours of study for the course and a one-year enrolment period.

Current 2026 context

The CSC continues to be offered by CSI, but it is no longer acceptable for CIRO Investment Dealer approval under the proficiency rules effective January 1, 2026.

Continue your CSC preparation

CSC Exam Format CSC Exam 1 CSC Exam 2 Practice Questions Calculation Questions Case Studies Mock Exams 2026 CIRO Changes

Independent preparation: CSCprep is not affiliated with, endorsed by, or sponsored by the Canadian Securities Institute (CSI) or the Canadian Investment Regulatory Organization (CIRO). Official exam requirements can change; candidates should confirm current requirements with the relevant official organization.

CSC Exam Structure, Registration & Preparation

Current CSI exam structure

2 proctored exams
100 multiple-choice questions per exam
2 hours per exam
60% passing grade per exam
3 attempts allowed per exam
Remote or in-person test-centre format

How to use your study time

Build chapter understanding first, then use questions to identify weak concepts. Give extra attention to calculations and concepts with similar-looking answer choices. Finish with timed mock exams so pacing becomes familiar before exam day.

Exam 1 vs. Exam 2

Exam 1 covers Chapters 1–12, moving from the Canadian marketplace and economics into fixed income, equities, derivatives, corporations and financing. Exam 2 covers Chapters 13–27, including analysis, portfolio management, managed and structured products, taxation and working with retail and institutional clients.

Registration and official enrolment

CSCprep is an independent preparation provider. Candidates register for the actual CSC through CSI. Always use CSI for current enrolment, scheduling, fees, identification and exam-policy information.

2026 context: CIRO's new proficiency model for Investment Dealer Approved Persons took effect January 1, 2026 and is assessment-centric. The CSC continues to be offered by CSI, but candidates seeking CIRO approval should verify the current requirements for their intended role.

How to prepare for the CSC exam without wasting study time

Start by confirming that the Canadian Securities Course is the right credential for your goal. If you need approval as an Investment Dealer Approved Person, review CIRO's 2026 proficiency changes before buying any exam preparation. If you are taking CSI's CSC, use the two-exam structure to build a practical schedule.

Example six-week study sequence

Weeks 1–2: build understanding of Exam 1 topics; make a one-page sheet of bond, equity and economics relationships.
Week 3: answer mixed Exam 1 questions, redo calculation errors, and attempt a timed mock when ready.
Weeks 4–5: work through Exam 2 investments, portfolio concepts, products, taxation and client scenarios.
Week 6: use mixed Exam 2 practice, review low-confidence answers and simulate exam pacing.

Adjust the duration to your own starting knowledge and exam bookings; this is an illustrative plan, not a CSI requirement.

Know the numbers, then practise the decisions

Each CSC exam currently has 100 multiple-choice questions and a two-hour limit, which averages 72 seconds per question. A 60% passing mark does not mean aiming for exactly 60% in practice: build a buffer by understanding why each incorrect option is wrong.

Exam trap: a bond's coupon rate is based on face value, while current yield uses the bond's current market price. Mixing the denominators can produce a plausible but incorrect answer.

See a worked bond-yield example.

What if you are unsure which exam to take?